1. Prepare a SWOT analysis. 2. Prepare a competitive analysis of what other festivals have been doing...
Question:
1. Prepare a SWOT analysis.
2. Prepare a competitive analysis of what other festivals have been doing to generate a revenue stream.
3. Evaluate the festival’s customer base and suggest a marketing strategy.
4. Develop a marketing plan for the Writers at Woody Point Festival.
This case illustrates the growth challenges experienced by the Writers at Woody Point Festival in Woody Point, Newfoundland. Since its inception in 2004, the festival had grown significantly in terms of box office sales and memberships. Reading and musical events sell out within hours after the tickets go on sale in May, almost 15 weeks before the start of the festival. As a result, in 2010 the festival expanded from a four-day to a five-day event. While additional reading shows had been scheduled concurrently with other reading shows, the demand was still higher than the supply, as the additional shows also sold out quickly, leaving out large numbers of potential festival visitors without tickets. Stephen Brunt and the board felt that it was time for the festival to adopt a formal marketing strategy that could provide long-term economic sustainability for Woody Point and the other nearby communities. The marketing strategy had to evaluate the festival’s customer base and recommend new revenue streams and customer segments. Apart from the brochures, community announcements, website, and word-of-mouth advertising, the Writers at Woody Point Festival did not have a marketing plan. This marketing plan had to re-evaluate current product, pricing, distribution, and promotion strategies.
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