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The target market can be identified using four deferent types of variables: * Demographic ; Geographic * Cryptographic * Behavioral In the case of Splendor In the Grass, they could use a mixture of these to create heir target audience. Demographic Variables Splendor in the Grass would use this variable based on age, gender and occupation. The ages that this event Is aimed at is 18-30, the reason for being such a wide range Is because the acts that play at the event cater to such a large audience.
There are artists that have been In the Industry for a long time who would appeal to the older and more avid fans, and on the other end of the spectrum there are artists that have lust started out, thus making it appealing for all different age groups. Family life-cycle stage is also a huge demographic for this event. The festival is mainly aimed at bachelor stage (young single people), This Is mainly because at this stage of their lives they can afford to attend this festival without all the responsibilities of family and bills.
Also there is a ‘carefree’ attitude surrounding this group. Geographical Variables Splendor Is held In Woodward SLD, but a lot of people from across the nation come to the grounds for the festival. The event used to be held In Byron Bay, NEWS, but recently moved due to council restrictions. This caused a lot of controversy with fans, but never the less it was still a sold out event. People will travel far to attend this activates as It does not occur anywhere else In the country and it has a good reputation. Cryptographic Variables This is a very important variable, but can be risky.
Although Splendor does not accommodate everyone. They only offer 2 types of ticket sales. The socioeconomic have to consider the cost of the festival ticket and all the additional expenses that they may incur including; travel, accommodation, food, beverage Just to name a few. Lifestyle is also taken into consideration. The festival is aimed at people who enjoy music and enjoy crowds. People who enjoy drinking would also be targeted. Most people portray festivals as an event that they drink dance and having fun.
Therefore young single people are the people that are most likely to attend. Behavioral Behavioral is probably one of the most important in identifying the target market for this particular event. I believe that a majority of the audience are loyal. Some of them are event loyal and will attend most years, but I think that most are band loyal. Once they find out the line-up of the event they will attend depending on which artists are playing. It is very important for the organizers to engage people from the artists that hey have playing at the event.
The ideal market is for people aged from 18-26, both male and female, who enjoy the experience of a three day music festival. The festival combines an ideal atmosphere of music, different cultures and the opportunity of meeting different people. Segment the audience The main segment for Splendor in the Grass would be demographic. Targeting people from their age, life-cycle stage, income and occupation would be the most realistic approach to marketing this music festival. Also another useful target would be within the cryptographic, which includes lifestyle and personality.
Behavioral variable is a very important segment, this targets buyer loyalty and occasions. Target Market Strategy Undifferentiated marketing can be described as ‘a market-coverage strategy in which a marketing organization might decide to ignore market segment differences and go after the whole market with one market offer’ (Kettle et al 2009, p. 243), and I think this is the way in which Splendor approaches their market. Although they are technically not ‘ignoring market segment differences, they do not design separate offers for each segment of the market.
There are a lot of segments to consider when seceding on how to target the correct market, but demographic (age, life-cycle and income) and chirography’s (lifestyle) and behavioral (loyalty) is the ones that mostly used. This type of music festival attracts a wide variety of people, but it would be wise to target people based their age, life-cycle and loyalty to the artists and the event. Positioning Statement A product or service’s position is how the consumer relates, feels or interprets the product or service against your competitors.
It is very important to achieve affordability to the product in the consumers mind. Splendor does not have a consisting statement but it could go along the lines of ‘Splendor – listen, laugh, love, enjoy! ‘. The reason I have chosen this mix of words is because people listen to the music, enjoy the time they experience at the festival, laugh at the good times they have and hopefully love it so they will return! This statement positions the event as having a fun loving, carefree atmosphere that people will enjoy.
Section Two Product Strategy world class acts from around the globe and present an experience like no other to every person that attends. To see more clearly as to what the consumer is getting, we an break it down into three groups. Core Product – The core product is fulfilling the customer’s wants and needs. This involves the enjoyment of experiencing three days of music, arts and culture from around the globe. There are new artists every year at the festival, so there is some excitement from the consumer, in seeing an act that they have never seen perform before.
Actual Product – The actual product is the tangible product that the customer purchases. This includes the ticket that they buy to enter the festival, the merchandise that they buy and the food and beverages that they consume during the event. Also this can include the traveling expenses that they incur getting to the festival and the accommodation that they stay in. Augmented Product – The augmented product can include benefits such as camping onsite as opposed to purchasing an event only ticket.
Also there are PIP tickets which include special PIP areas such as bars and seating that only these ticket holders can enter. There is also extra security in the areas as well as extra facilities and increased public transport to and from the event. Price Strategy Splendor in the grass has definitely taken advantage of the growing demand for this vent. The table below outlines the rising ticket prices for the past three years. I 2009 12010 12011 Event-only Ticket | $240 | $350 | $403. 50 | camping Ticket | $372 | $450 | $523. 0 | One of the main reasons the costing of the tickets has increased from 2009 to 2010 is because the event moved to new grounds at Woodward and added another day, making it a three day festival. This event is only held once a year and there are no direct competitors. Splendor is the only winter festival that runs for longer than one day. The Falls Festival is the only similar festival to Splendor, it runs for four says but in summer. Most festivals are run during summer, so this gives Splendor a massive advantage to Justify high admission and product prices.
Tickets are expensive as the organizers have major costs to cover including prices of bands, renting the grounds, food, beverage, hiring security and equipment hire Just to name a few. Place Strategy The only place to purchase the tickets is through moist, either through the website at www. moist. Com. AU or by phoning them on the day of release. The event now offers re-sale ticketing and re-issuing. Tickets are issued in the form of an e-ticket. That means that the ticket is emailed to the customers email address who can then print the ticket for themselves instead of being sent hard copy tickets.
Promotional Strategy This event uses advertising as the main form of promotion. Splendor advertises a lot over the internet on websites such as intermix. Com. AU, faceable. Com, BBC. Net. AU/ triple] and of course septuagenarian’s. Com. They reach a very wide audience using this method. Consumers access the internet on a daily basis and if they see the advertisements on their internet pages they are likely to have some form of interest ND therefore click on the page. They also advertise on web pages that are relevant coverage on the radio leading up to the event.
Public relations is defined as ‘building good relations with the company’s various publics by obtaining favorable publicity, building up a good corporate image and handling or heading off unfavorable rumors, stories and events’. (Kettle et al 2009, p. 468). Splendor has quite an impressive reputation among the music industry because of the length of the festival, the artists who perform and the price of admission. Since the event already has a DOD reputation, public relations is used to inform the customers of the line-up and the location rather than what the event is and how it is run.
The most common form of PR are press relations. Most websites and radio stations release positive information about the festival without the organizers having much or any input. Conclusion This report shows that to segmenting the target audience for Splendor in the Grass can be done in a few effective ways. The use of demographic, physiographic and behavioral segments can be used effectively, if used properly. Splendor has used a rarity of ways to target the appropriate markets. The most effective are by using brand and artist loyalty.