Marketing Opportunities 1: Assessment 1
Kornphong THIPPACHAYAJIN #S40048338
Written or Oral Questions/Presentation
Assignment to be typed in a report style format.
Imagine that you are the owner of a small business, e.g. café, clothing store, electronics, restaurant, copy shop. You may need to consult with your trainer for potential types of businesses. You are thinking that this year will be the perfect time to begin exploring ideas to grow your business.
Based on the above scenario, answer the following:
1. Provide a brief description of your business, outlining such things as its products and services, location and capacity, etc. (5 marks)
>>> I am the owner of The Court Jester (gaming and sport (TAB) bar venue).
The Court Jester is the perfect place to meet for drinks, watch a game with mates, or simply relax the afternoon away with a few punts, there are 48 poker machines with TAB bar for your enjoyment.
Featuring Sky Racing, Fox Sports and $50 punters club every Saturday along with $5 Schooners of VB, Carlton Draught, Carlton Dry and Bulmers, entertainment is guaranteed.
Location: 270 Chapel Street, Prahran VIC 3181
Maximum capacity: 150 people
2. In terms of growth and expansion, design 3 objectives that your business will aim for over the next year. (3 marks)
>>> 1. Increase the memberships for more players and customers
2. Increase the total venue Return on investment (ROI) by 20% or more
3. Gain more venue reputation in Prahran area
3. Devise, rank and assess 5 marketing opportunities that may enable you to reach your objectives. You will have to use the ‘Ranking Opportunities Table’ that’s at the end of ‘Session 3’ of the workbook or something similar to complete this question. (10 marks)
|Rank||Opportunity||Fit with Company(1-5)||CapitalNeeded||ROI||ResourcesNeeded||TimetoProfit|
|1||Having more events to get more people come in and give them the membership cards for free.||4||80,000||77.5%||Event management team||1.3 years|
|5||Sponsor local Rugby team by providing all free drinks and meals for them.||4||5,000||23%||Sponsorship management team||1.6 years|
|2||Team up with the local restaurants to give them cheaper drinks for their customers.||5||12,000||47%||Restaurants managers||2 years|
|3||For membership customers, they can use the point for more benefit, not only for drinks. For foods and takeaway drinks to bring them back to the pub again.||5||5,000||34%||System technician||1.7 years|
|4||Advertise all events and what is going on each day via local radio and social media to get more customers||3||8,000||51%||Radio station manager||2.2 years|
4. Out of your list of opportunities, select the best one and document how your business will need to change in terms of operations and resources. This means that you will have to identify 3 business operations and 3 business resources that need modification in order to take advantage of this opportunity. (12 marks)
>>> I select ‘Having more events to get more people come in and give them the membership cards for free’.
Fit with Company (1-5): 4
Time to Profit: 1.3 years
Return On Investment = (Average Annual Profit ÷ Capital Investment) x 100
= (62,000 ÷ 80,000) x 100 = 77.5%
All new events are:
Monday – $4 Taco Lovin’ night
Tuesday – Karaoke night, $4 Taco Lovin’ night
Wednesday – Trivia night
Thursday – Meat Raffles
Friday – Live music, Lovely Lingerie waitress, Meat Raffles
Saturday – Live music, Lovely Lingerie waitress, Meat Raffles
*** For more colourful posters and details, please see them in my PowerPoint file ***
We mainly need resources from professional event management team and more staffs to take care of those new events as well as an effective budget manager to monitor, control and plan all financial matters. Also, we need to contact and have some meetings with the head office too.
5. It’s now time to communicate with your stakeholders to inform them of your findings. Prepare a 5-10 min presentation that outlines your plan. (10 marks)
>>> In my PowerPoint file, please have a look.
Marketing Opportunities 1 Workbook