Essay
Unit 3 P4 - Use marketing research for marketing planning
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Unit 3 P4 - Use marketing research for marketing planning
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Unit 3 – Introduction to marketingPass criteria 4
P4 – Use marketing research for marketing planning
The business that I am going to use marketing research for marketing planning is Rumpus
Party.
SWOT analysis:
Strengths
They will not have a lot of competition due to how unique it is. Each event has its
own different theme which means that the company can reach out to lots of
different people; they cater for all different types people.
The tickets are affordable for everyone; the company makes a good profit without
charging extortionate prices.
No other company is quite like them
Weaknesses
The company is very out there in the way they expect people to dress, this could be
quite daunting to certain types of people so they might not bother going.
Rumpus parties only take place in London which means they do not take advantage
of the fact that other people in different regions would want to go to their parties,
they could expand to other big cities.
The business only appeals to a particular age group which means they are missing
out on a potential rise in profits
Opportunities
They could start catering for children, for example by having an earlier start time,
serving no alcohol and only allow under 18s in to keep them safe
They could expand to other areas of the UK or even beyond
They could offer ‘calmer’ themes that are not so daunting for people
Threats
Due to geographical restrictions people may not be able to justify spending money
on travel and costumes which can be very costly
With all companies, competition is always a threat that could affect the business this
is especially if a new company comes along and offers different parties that Rumpus
doesn’t
SMART targets for Rumpus parties
(Specific, measurable, achievable, realistic and timed)
75% said they wanted more parties
They could organise more parties by hiring a few more staff members. This would be
a trial for a few months and if they are not making enough of a profit compared to
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