Report about strategic issues related to a previous assignment Research Paper

Report about strategic issues related to a preceding assignment - Research Paper ExamplePrinciple of Participation is the underlying driving force of the winner of the festival. However, few strategic issues have turned out to be nontrivial for the organization in the festival in the recent years. These issues are The tickets of the concerts and the programs of the festival are very pricy. In the recent years, especially from 2009, the recession in the global economy has reduced the supply of money in the economy this has reduced the disposable incomes of the consumers. The demands for the tickets of the festival have fallen for this reason in the recent years. The industry for entertainment has baffle highly war-ridden in nature. The occurrences of famous sports events like the Olympics have seemed to reduce the popularity of the music festivals. Rather there are in any case other companies engaging in the organization of music events. The entertainment and music festival mark et of UK has become more than competitive due to entry of untested competitors and service diversification of existing competitors. For example, competitors or inventive entertainment shows like Northern Darkness, Dumbfest Music and Comedy similar offerings like Secret Garden fellowship/Secret Productions (Kuchler, 2013). ... ding to Ansoff Matrixs Model (1987), marketers nookie have four types of strategic options 1- change magnitude penetration for existing ware in existing market through tailor made marketing strategies. The organisation can apply this strategy by go unique products and services and putting more variety in existing offerings such as Secret Emporium, Boutique camping, Soul Fire Restaurant, The mental hospital and Secret Forum Improving the relationship with customers by developing customer community, online customer feedback forum and customizing the product offering as per request of customers Increasing brand credibility through developing unique promo tional campaign consisting of brochures, mail shots, advertisements, website promotion , sales promotions, personal change, exhibitions, and press publicity campaign 2- Offering new services in existing market by Penetrating existing market by delimit the market served and establishing strategic alliances with small level music festivals, public relation firms and music DVD selling companies 3- Entering new market by offering existing product portfolio by The uncertain negativities of large weather can be reduced by the company if it can organize its programs in the interior halls of U.K Organizing the festival in new places apart from U.K. 4- Developing and diversifying the product portfolio as per requirements of new market. The company can enter in different types of strategic alliances with other event-organizing firms. This would help the firm to acquire more skills and expertise. Offering online broadcasting / streaming of the festival customers who do not have the time an d opportunity to enjoy the festival by being physically present (Secret Garden Party, 2013). As a summary, it can be utter that Secret Garden Party