1-2 Video Check-In Learner-Instructor Connect MBA 645
.docx
School
Southern New Hampshire University**We aren't endorsed by this school
Course
MBA 580
Subject
Marketing
Date
Dec 22, 2024
Pages
2
Uploaded by EarlThunder13156
Hello Professor Smallheer,After reviewing the memo from the CMO, I can clearly outline how the four P’s—Product, Price, Place, and Promotion—can be leveraged to attract both existing and new customers back to the U.S. Southeast parks upon reopening, with a focus on our target demographics. The primary audience consists of teens aged 15-18, alongwith their families. Understanding the interests and preferences of these teens is essential, as they often influence family decisions. To gather valuable insights, we should conduct extensive market research, including surveys and focus groups. Thisdata will guide us in enhancing our offerings, ensuring that the parks remain appealing not just to teens but also to their parents and siblings, thereby encouraging repeat visits.Pricing is another critical factor in our strategy. We must identify a price point that isaccessible for families with an average income of around $75,000. By ensuring that ticket prices are affordable for a family of four, we can facilitate multiple visits throughout the season. It is important to consider the relationship between perceived value and price; families should feel they are receiving quality service that justifies the cost. To achieve this, our finance team should regularly analyze market trends and competitor pricing, allowing us to establish competitive pricing structures that attract our target audience while maintaining profitability.In terms of Place, creating a safe and welcoming environment is paramount. We need to reassure our guests and employees that their safety is a top priority. This includes conducting thorough assessments of our facilities and the surrounding areas to address any potential safety concerns. Ensuring that visitors feel secure during their drive to the park, as well as while parking and enjoying the attractions, will strengthen their confidence in our brand. By actively engaging in zoning research and safety surveys, we can demonstrate our commitment to providing a secure experience for all guests.Promotional strategies will play a key role in increasing engagement with our community. We can create outreach programs and partnerships with local schools, grocery stores, and businesses to enhance our visibility and attract more visitors. For example, organizing field trips for local high schools can generate excitement among students, leading to increased family visits. Additionally, offering company discounts through local businesses can encourage parents to purchase tickets at a reduced cost, promoting family outings and fostering a sense of community support for the parks.With this comprehensive understanding of the four P’s, I feel prepared to effectively address Milestone Two. I plan to identify two methods for consumer research, such as online surveys and focus groups, to gather valuable feedback. Furthermore, I will outline three traditional marketing strategies, including print advertising, billboards, and direct mail, alongside three digital marketing approaches like social media campaigns, email newsletters, and influencer partnerships. By integrating these strategies, we can create a cohesive marketing plan that enhances our brand's appeal and drives traffic back to the parks.
Thank you and have a good day.