DBS Has Talent

DBS Has Talent is a talent show which is run by the BTEC class of Dubai British School of 2015/2016. DBS Has Talent is a charity event in which involves 17 students organising and providing a talent show for Dubai British School for students and parents to attend. DBS Has Talent has been taking place for the last 6 years at Dubai British School but this years the BTEC class of 2015/2016 wants to make this event bigger and better then ever before.

Aims and Objectives of the Business:

Private Sector

The private sector is "the part of a country's economic system that is run by individuals and companies, rather than the government. Most private sector organizations are run with the intention of making profit." - http://whatis.techtarget.com/definition/private-sector

DBS Has Talent has to appeal to guests to by tickets in order for it to not become a failure and result in the event not succeeding. To do this ticket sales and sponsorship is essential in order for the event to recieve an income and raise as much money as possible for its chosen charity; which is Red Cross. In order for DBS Has Talent to grow we have to meet the needs of our guests and make sure we meet all their needs and expectations.

Public Sector

The public sector is "the part of the economy concerned with providing basic government services. The composition of the public sector varies by country, but in most countries the public sector includes such services as the police, military, public roads, public transit, primary education and healthcare for the poor. The public sector might provide services that non-payer cannot be excluded from (such as street lighting), services which benefit all of society rather than just the individual who uses the service (such as public education), and services that encourage equal opportunity. -http://www.investorwords.com/3947/public_sector.html#ixzz3w6MfVLiK

DBS Has Talent aim to provide a service towards Dubai British School in order to showcase the talent in which DBS provides. In order to meet our organisation goals we have to make sure we meet the standard in which we set out to meet, in order for our brand to be well respected and for our guests and staff to be satisfied to the highest level. We have to make sure we are effiective and efficient in order to make sure that we produce the best event in which Dubai British School has ever held.

Marketing Objectives

Marketing objectives are goals set by a business when promoting its products or services to potential consumers that should be achieved within a given time frame. In other words, marketing objectives are themarketing strategy set in order to achieve the overall organizational objectives. DBS Has Talent marketing objectives were to make sure that our brand awareness grow to the level we believed it should in order for tickets to be sold out and for our customers to see that our brand is of the highest quality. With top class services and marketing compaigns in which exceeds our customers expectations we believe we can make sure our event is the best event DBS has ever held. On the 9th December our tickets went on sale to students, staff and parents of Dubai British School in which DBS Has Talent held a media day in order to raise attention about the event in which is taking place on the 16th of January. Our marketing objectives will link to our overall business objectives as we want our tickets to be sold out for our event and by doing this our marketing compaign needs to be at the highest level in order to engage possible guests to buy a ticket for our event.

Marketing

Marketing is the management process through which goods and services move from concept to the customers. Marketing includes the coordination of four elements called the 4 P’s of marketing. These are:

Product
Place
Price
Promotion

The 4P’s is a general phrase used to describe the different kinds of choices organisations have to make in the whole process of bring a product or service to the market. The 4P’s are about putting the right product in the right place, at the right price, at the right time.

What is meant by place in marketing?

Place is the point where products or services are made available to customers. A business has to decide on the most cost effective way to make their products easily available to customers. This involves selecting the best channel of distribution. Potential methods include using:

Retailers
Wholesalers
Mail orders
Internet selling

What is meant by ‘promotion’ in marketing?

Promotion refers to the methods used by a business to make customers aware of a specific product or product range. Advertising is just one of the means a business can use to create publicity. Business create an overall promotional mix by putting together a combination of the following strategies:

Advertising
Sales promotions
Personal selling
Direct marketing

Ansoff Matrix

Ansoff Matix is strategic marketing planning tool that links a firm's marketing strategy with its general strategic direction and presents four alternative growth strategies as a table (matrix). These strategies are seeking growth:

1. Market penetration: by pushing existing products in their current market segments.

2. Market development: by developing new markets for the existing products.

3. Product development: by developing new products for the existing markets.

4. Diversification: by developing new products for new markets.

DBS Has Talent are seeking market penetration in order to sell our tickets to our current market in which we are pushing an existing product being our event. Our marketing compaign relates to this as we are only limited to sell our tickets to staff, pupils and parents so we are unable to target this product to a different audience so we have guarantee we have the planning tools that links our organisation strategy with our general stategic direction.

Branding/Importance of Branding

Why is branding important?

Brand can be a name, term, sign, symbol or design, or a combination of these elements that identify products or services of a seller. These elements differentiate the goods and or service from other sellers. Branding is not only about getting your target market to select you over the competition, but it is about getting your prospects to see you as the sole provider of a solution to their problem or need.

The objectives that our DBS Has Talent brand will achieve include:

Clearly delivers our message
Confirms your credibility
Emotionally connects our target prospects with our service.
Motivates our potential guests to buy a ticket
Creates User Loyalty

In order for us to succeed in branding, we must understand the needs and wants of our customers and prospects.

Fonts/wording/images/style/theme

The use of bold font stands out to the viewer as it is eye catching and would keep the audience interested and wanting to know more. The use of basic language in a advertising poster makes it easier for the audience to see what they would expect from the event and what the event provides. The background image of Dubai skyline allows guests to relate to where the event is taking place.

How does their branding influence buyer behaviour?

This branding influences buyer behaviour as possible guests will see this poster and it will automatically engage the audience with the bright colours and background image. The name of the event automatically allows buyers to understand what the event is about as its similar to "Britains Got Talent" which is a well known talent show with takes place in the UK. The branding of the event is of a professional level which possible buyers will realise and understand that this event is serious and of the top quality.

How does DBS Has Talent encourage customers to be brand loyal?

Brand loyalty occurs when a customer chooses to repeatedly purchase a product produced by the same company instead of a substitute product produced by a competitor. For example, some people will always buy a DBS Has Talent ticket as they really support the school and the students involved; as the school has a very strong community. Brand loyalty is often based upon perception. A consumer will consistently purchase the same product because they perceives it as being the superior product among the choices available. DBS Has Talent encourages brand loyalty in order to get repeat sales so that tickets are sold out quickly in order for the event to be a success.

Relationship/Transactional Marketing

Relationship Marketing

Relationship marketing is when a business puts there full focus of their marketing on their long-term valued customers. This means identifying their valuable customers and initiating and maintaining relationships with them. Customers built on relationship marketing are used to generate majority of the constant sector of a companies sustainable profit. For example, getting customers to sign up with their loyalty cards and the company can keep in touch with the customer to notify them of promotions etc.

Transactional Marketing

Transactional marketing is where a businesses marketing puts their full focus on their sales of an item or service with a smaller expectation of a relationship developing with their customers. A business would do this by giving discounts, lowering delivery cost and making products in more of a price range suitable for clients. For example, buying a product for its cheap prices rather than communicating with customers to make the sale. Their objective is also to completely raise sales.

What is the difference between the two and describe what type your business uses

and why.

Transactional marketing targets on just getting the customer to purchase a product, whilst relationship marketing sees the sale as the first step in building of a relationship. Transactional marketing’s goals are to bring the customer for one off purchases mainly on price and short term benefits with partial service. Relationship marketing is all about producing repeat sales and customer interactions, focusing on promising long-term performance.

Relationship marketing also brings customers to the focus. This concept has implied the fact that a customer does not buy a product, but instead buys a resolution for a exact problem or need. If the company can build a relationship with the customer, they would find out who they are, what their needs are, this also creates a lifetime valued customer. Transactional marketing puts their reliability on price, short term benefits and product performance, while having restricted service.

Relationship marketing is focused on creation, maintenance and satisfaction of the customers. It focuses its importance of long term relationship with customers, then attracting new ones every time. The Transactional marketing employs the pull technique, producing the product with quality as key concern, and satisfying the customer needs and wants without structure any connection with them. The transactional marketing focuses on enlarging the profit of the company by having more customers to purchase the businesses product.

DBS Has Talent marketing focuses mainly on transactional marketing focusing on selling tickets but also we did focus on relationship marketing because we constantly emphasising on how much as a business they value customer service. We make sure that our staff are always professional and always help customers to the highest standard.

What are the benefits of ‘lifetime value of a customer’

"A lot has been talked about Customer Life Time Value in recent times. Though there has been a debate about whether it is a useful tool to adopt in the course of business to enable revenue growth, there have been organizations who have started realizing the importance of calculating the life time value. In a situation where companies need to stay ahead of competition, with technology there is always a better solution out there - there always is and there will be a new approach, a new disruption, a new business story – and customer life time value aids in such an effort." - see more at https://www.linkedin.com/pulse/20140613073548-28262382-business-benefits-of-customer-lifetime-value

The most significant part of Customer life time value is that it is not at all for any specific industry and rather spans across all industries. It is just a matter that the level of engagement and advantage might differ based on the business model in place. Though there can be a lot of assumptions which are accounted for in the process of calculating the life time value, ultimately organizations need to remember that at the end of the day, it is just a tool and not a strategy to enable better revenue growth opportunities.