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The Writers at Woody Point Festival

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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

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