THE WRITERS AT WOODY POINT FESTIVAL MAIN REPORT PROBLEM STATEMENT Writers at Woody Point Inc. need to make important decisions for the growth and sustainability of the festival. Stephen Brunt wants to ameliorate the economic development of the festival and nearby communities. The business needs to find new sources of revenue and develop an effective marketing strategy; they need to decide the best product, price, promotion, place, distribution and segmentation for the woody point festival. ANALYSIS The Writers at Woody Point Festival has a potential to generate more revenue because many people have been found interested in the literature. The festival has even experienced growth and attracted more number of people. With its tickets …show more content…
The festival had been getting aids and donations from some sources but they are not suitable to be relied on. With a permanent and strong sponsor, the festival would receive higher revenues and would be able to offer more shows and entertainment for the adults and youngsters. More entertainment would increase the number of attendees and also spread the word of mouth across the country. However, this alternative has a limited impact as it would increase the revenue but not affect the other things severely. The sponsors can also help resolve the issue of residence or staying for the attendees of the festival. ALTERNATIVE 2 The second option for the festival is to increase the ticket prices. It has been observed that the tickets for Writers at Woody Point festival get sold out within hours due to its attraction. Hence, the business can increase the ticket prices for the customers. In this regard, the festival can offer tier based pricing i.e. selling exclusive tickets at higher prices. The exclusive ticket holders can enjoy all events including writers contest, musical performances and art exhibitions. Nonetheless, this alternative is not as viable as the previous one because high price might detract the customers. ALTERNATIVE 3 The third viable alternative for the festival is to use the market penetration strategy. It has been observed that a lot of people have been unable to attend the festival because of out-of-reach places and scarcity of tickets. Thus, if the
2.Now a days, concerts of famous artists are usually held in big stadiums and theaters, which brings a huge crowd of fans for affordable ticket prices and the same time, satisfies the high demanded payment for the top artists and earns a profit for the organizers of the shows. However, there are concert management companies, like Nederlander, that manages to charge higher ticket prices for small theater performances and to deliver a “sellout crowd night after night”(Video Case: Nederlander, p.1). Why is Nederlander able to do that when audiences could pay less at stadium concerts?
Since the stakeholders revokes their contract with Regale Properties whose str market?” ategy is to host the city’s festival as marketing strategy to launch the hotel product offerings into the market and prefer moving into franchise with Marriott for best reasons known to them. The decision problem becomes “How do we better position and market the hotel product offerings into the mature competitive To better define the
Jefferson City, TN- The Jefferson County Patriots, comeback from eleven-points down in the third set to sweep the South Doyle Cherokees 25-21, 28-26, 25-23, on Thursday night at the Patriot Academy.
Two non traditional methods of program funding that the XYZ Corporation can incorporate are fundraising dinners and an annual music festival. Both of these fundraising methods have the potential to raise thousands of dollars for the organization. Planning these events will be time consuming and somewhat costly, the XYZ Corporation will seek to get as much donated materials and volunteer time as possible to keep costs of the fundraising events at a minimum. The dinner will incorporate a cost per plate that is affordable yet will maximize fundraising potential. The music festival will bring publicity and positive attention to the organization as well as maximize fundraising capabilities.
It will last for four hours and my goal is to sell as many tickets as possible, as selling every ticket would give me around £20,000, which would greatly contribute towards paying for the costs. Even without reaching this ideal, it allows for a far greater expansion in all areas of the project. The launch party will also provide some advertisement for my product, as the marketing ideas should build up enough attention for people to acknowledge my product. The launch party will also be used as an opportunity to sell merchandise, as people would associate the merchandise to the artist, and the memory of attending the live event. This is a key opportunity to sell merchandise, as it is the beginning of an artist's career, and merchandise from the beginning of an artist's career can be both a sentimental, memorable object, as well as a collectors object, and both hold values in different ways. In order to transport instruments and musicians to and from the venue, travel would cost around £200 to rent a vehicle for a weekend. This would be vital, as it is a cheap and efficient way to get everything to the live performance, and without it, there would be no live
An economic impact study was conducted on the festival to show that the city was receiving a great come back for its investment. On the other hand, a survey was proposed to gather information from the local population to determine whether the festival was a quality community event and whether it was generating spending by attracting non-local and out-of-state visitors. The research team piloted an economic impact analysis with importance on the total value added to the community through expanded spending and the city’s tax collections through the event. The team also measured the level of satisfaction that the event participants had to determine the percentage of repeat visitors. However, the study rediscovered that 34,000 visitors spent an estimated $7.32 million with local vendors on many goods and services during the festival. The positive economic impact, favorable reviews by attendees, number of return visitors, and variety of attractions that festival goers selected indicated that this even is both a successful economic stimulus and an effective community development
South Secondary School students run the event. They go out and find corporate sponsor to fund the event. This ensures all funds raised go directly to the cause.
A $2 increase on admission prices has the potential to increase revenues with a low risk of profit loss. A loss would only occur if the price change were to lose more than 572 visitors. An increase to $14 a ticket will bring in extra profits and still remains below the competitors and the ROM’s regular hours
The festival which already receives funding from major companies, can seek out new music focused company sponsorship's that will provide aid for the costs of the concerts. The last opportunity for the festival includes the role it can provide in educating the local youth about local cultural music, theater, and arts. Many may grow up to have a strong appreciation towards their own communities’ festival.
“A three-day event is just perfect for me”, Allan Theodre said. “You get more fun for your money”. It was his second year attending the festival.
This really makes the people at the community find the sense of pride and ownership and encourages local people to participate at the festivals not only as audiences but also as volunteers or staffs. For example, some venues for the festival are churches located at downtown, and local people are familiar with those places; therefore, they have the sense of ownership when they work at that venue and they will have great passions, which will lead to the success of the festival too. Also, those local citizens are stakeholders to the organization. For the Lotus Blossoms event, which is a program that helps children to get involved into the arts, the parents and schoolteachers can be the stakeholders and schools can develop a partnership with the organization. The musicians make up another big part of stakeholders, and some of them keep coming back each year, which indicates that there is a strong partnership between Lotus and those great artists. Those sponsors keep supporting Lotus is another major part of stakeholders. Without those stakeholders’ contributions, it is hard to make a festival or events come true. Maintaining good partnership with them and listen to their advices and suggestions is one of the key to keep the organization fresh and
So instead of asking Eren who Allen was I asked a different question. "Has this Allen ever been here?" I asked him making sure to choose my words carefully so that I could bypass my Mistress's command.
In recent years the growth of the festival’s attendance has created a problem for many visitors in their ability to find lodging. Resulting in many having to stay in motels and/or bed and breakfasts as far as 60 kilometres away. Readings and musical events sell out within hours after tickets go on sale. Additional readings have been added, but the demand still exceeds the supply.
Ultra Music Festival (UMF) is a yearly open air electronic music celebration that happens in March in the city of Miami, Florida, United States (DURAN, 2013).In this report I have analysed about the ultra-Miami festival event in USA and what is behind the success of the event. Events rarely succeed or fail it is totally depending on the scheduling and who all are the stakeholders are supporting the particular event. For a successful event there are several potential goals to satisfy and a plethora of stakeholders to involve (Presenza, 2012). Festivals are mostly unique in the events sector how the stakeholders are involved in the events. Media is mainly involved in a group way in television and
The reach of our Festivals is expanding rapidly, but we are also retaining the partners we have developed over the years. This year we have hosted more than 40 festivals in 15 states and 5 foreign countries, reaching more than 5000 students. Of these, 22 festivals were hosted by new partner institutions. We have also received more than 70 inquiries about Festivals