Sample Marketing Paper on Understanding Marketing and Events

Walt Disney Company is a company that deals with animation and movies and is the leading company in America in areas of entertainment and information. It prides itself on providing the most creative, innovative and entertaining products in the world. As competition increases in the world when it comes to cutting-edge products, companies are forced to adopt marketing and events organizing strategies that will enable it to remain competitive. This paper will be looking at how events are defined and classified,  the marketing activities undertaken by Disney and the role events play in the company’s marketing strategy. It will also look at the role of a marketing mix (4ps) and how Disney employs these in their marketing strategy as well risk management considerations to take into account in their event planning (Fulgoni and Lella, 2014).

 

  • Definition and Classification of special events.

Special events are  ‘special’ as they usually happen outside the normal programs or activities or business of the organization or company. Special events are of entertainment, or hospitality nature hence are carried out in a social setting though they still have a business motive. These special events are generally for marketing, promotion, advertising and sales purposes. Special events comprise of private events, sporting events, public events as well as fairs and festivals.

Private events include parties and celebrations events like weddings and birth parties. They also comprise of brand communication events, for instance, retail events, launches, and fashion shows. Charity events and fundraisers are as well classified as private events.

Public events are usually open to the public, and some of the examples include brand marketing events like road shows, product demonstrations where people are present as the targeted audience. The company may want to hire a public space with the intention of advertising and promoting their products. These events may require permission from government officials, and some even may need risk assessment and traffic management like fun walk to raise an awareness of something (Goworek, and McGoldrick, 2015).

Public events can also take the form of fairs and festivals.

1.2. Scope and impacts of events and marketing in Walt Disney Company

One of the marketing activities that Walt Disney uses to market its products is to have great messages accompany their products. For example, the company uses the phrase ‘Healthily Ever After’ and this always connects its products with the targeted audience.  When this message is passed on using Disney characters, parents and children end up buying Disney products as they identify them with healthy living. The company has been using Disney characters to influence families and their children to exercise and eat healthily. This marketing activity has proven very effective in marketing Disney’s products. Walt Disney also uses events to market its products.

Events play a major role in the overall marketing strategy by companies and how such events are organized and marketed determine the success of that business (Armstrong and Kotler, 2014). Events are preferred in marketing because they are fresh hence able to capitalize on current trends. Events can also deal with different themes depending on what people like at the moment. Events are usually attractive to partners and sponsors and are easy to change and adapt to current issues. One event that played a key role in Walt Disney Company’s marketing strategy is Epcot international food and wine festival which usually drew one million visitors each year. This was a very useful marketing.

 

1.3.  The role of the marketing mix in developing event marketing strategies of Walt Disney. 

The marketing mix is a marketing strategy used by a company in promoting and increasing demand for its product. The marketing mix consists of 4Ps; product, price, promotion, and place. These four elements are key in marketing strategy (Baker, 2014). A good quality product will outdo the other products from competitors. A good product must be accompanied by a reasonable price and effective promotion in order to sell. Promoting means taking your product to the people and explaining the product features and benefits. On the other hand, the product must be placed where the market segment is (McDonald and Wilson, 2016). This means that if the target market is the urban population, then you cannot sell it in rural areas.

Walt Disney Company has effectively used the market mix as a marketing strategy. The company’s products are competitive and of high quality like the world class movies and cartoons that are very popular with children. Regarding place, Disney stores are located in shopping centers and big malls across the world. Disney also makes sure that that they have theme parks in different places around the world. When it comes to pricing, Disney world targets the mass population hence things like toys are made available through affordable prices as they target children while prices for movies targeting middle class are a bit higher. Their price is considerate of the average person because they the average earner who lives in urban centers. Disney products are known all over the world, but despite this popularity, the company still advertises through bill boards, TV programs, online advertising, competitions, and commercials. Disney also comes up with taglines like ‘The happiest place on earth,  and this draws many customers to its products. The company aggressively promotes its products (Choudhury, 2017).

 

 

1.4. Marketing strategy used by Walt Disney organizers in event planning

Walt Disney Company has a special event of open-air screening of one of their films to promote their brand. The company should take into consideration market segmentation and target and positioning. Market segmentation helps the company to know what the customer needs are by grouping people according to their preferences while targeting is where the company identity’s what to sell to whom. Positioning is where the company creates the image of the product in the minds its targeted market. Considering that Disney wants to open-air screen one of their films, they should target young, an urban middle-class population as they are the ones most interested in films. This target market is found in urban places frequented by middle class and this is how Disney ought to market their film because once they create the product’s image in the minds of these young people, then, they will become their regular customers. They will have succeeded in positioning their brand. Market segmentation is a very effective strategy because the company is precisely aware of the customer needs hence can tailor make products that serve the needs of the targeted market.

Risk management in the planning of special events is of high importance as there are many problems that may arise during the event. Risk management is the process of eliminating or reducing risks that emanate from involving ourselves with any event. Some of the risks that could be involved include power failure, last-minute postponement, medical emergencies, and financial loss among others.

 

 

 

Disney should take into consideration the risks involved in event p[lanning like power failure, medical emergencies that can result from fainting due to suffocation as a result of the large crowd of people involved. Standby generators should be made available just in case of power failure. They should put in place crowd control measures in advance to allow free movement of people as well as have breathing space for people. First aid kits should be available, and if possible, an ambulance should be made available for any medical emergency that may arise.

1.5. Conclusion

Special events play a major role in ensuring marketing strategy of an organization is effective as this paper has shown. When a company uses the marketing mix effectively by having a competitive product that is  promoted and advertised and whose price is reasonable and is sold in the right place, then the company will always reap high profits. Marketing and events go hand in hand and how an event is planned, who is targeted by the event matters a lot if a company wants their marketing strategies to be effective. Disney has been successful because of its ability successfully organize marketing events that make its products stand out. The company has also employed the marketing mix strategy effectively making it a global brand present all over the world.

 

References

Armstrong, G., Adam, S., Denize, S. and Kotler, P., 2014. Principles of marketing. Pearson Australia.

Baker, M.J., 2014. Marketing strategy and management. Palgrave Macmillan.

Choudhury, R.G., 2017. Influence of Marketing Mix Decisions on Emotional Branding and Its Effect on Customer Appeal. Driving Customer Appeal Through the Use of Emotional Branding, p.107.

Fulgoni, G. and Lella, A., 2014. Is Your Digital Marketing Strategy In Sync with Latino-User Behavior?. Journal of Advertising Research54(3), pp.255-258.

Goworek, H. and McGoldrick, P., 2015. Retail marketing management: Principles and practice. Pearson Higher Ed.

McDonald, M. and Wilson, H., 2016. Marketing Plans: How to prepare them, how to profit from them. John Wiley & Sons.