SAURABH ARVIND S292049 MKT502 CLIENTS AND MARKETS ASSIGNMENT – 1 SAURABH ARVIND S292049 MKT 502 INTRODUCTION TO DSO DSO is basically an orchestra group whose full name is Darwin symphony orchestra where they organise concerts and events for the entertainment of the population of Darwin in Australia. Martin Jarvis is the founder of the group where they have group of people who are expert and experienced in music industry, more than 50 people are the part of the groups where they perform and do musical events, storytelling concerts for the kids and some of the other events for the entertainment of the people of the Australia. It is basically a non-profit organisation and receives revenue from the government as donations and also does some of the fund raising events for the collection of the money. Table of Contents INTRODUCTION TO DSO.......................................................................................................................... 1 SEGMENTATION AND TARGETING .......................................................................................................... 2 SEGMENTATION ............................................................................................................................. 2 TARGETING ...................................................................................................................................... 2 SEGMENT EVALUATION ................................................................................................................... 3 B2C MARKET ANALYSES ............................................................................................................. 3 EXISTING CUSTOMERS OF DARWIN SYMPHONY ORCHESTRA ................................................................ 3 POTENTIAL CUSTOMERS OF DARWIN SYMPHONY ORCHESTRA ............................................................ 4 B2B MARKET ANALYSES .......................................................................................................................... 4 TARGETING PROCESS .............................................................................................................................. 5 B2C TARGET ............................................................................................................................................ 5 IDENTIFICATION AND EVALUATION OF NICHE CUSTOMER SEGMENT ................................................... 5 RATIONALE BEHIND SELECTIONS OF SEGMENT...................................................................................... 6 MARKETING MIX OF DSO ........................................................................................................................ 6 B2B TARGET ............................................................................................................................................ 7 SAURABH ARVIND S292049 MKT502 IDENTIFICATION AND EVALUATION OF NICHE CUSTOMER SEGMENT ................................................... 7 RATIONALE BEHIND SELECTIONS OF SEGMENT...................................................................................... 7 MARKETING MIX ..................................................................................................................................... 7 POSITIONING AND CUSTOMER BEHAVIOUR .......................................................................................... 8 RECOMMENDATION ............................................................................................................................... 8 CONCLUSION ........................................................................................................................................... 8 REFERENCES: ........................................................................................................................................... 9 SEGMENTATION AND TARGETING SEGMENTATION The segmentation of market is the division of large market which consists of existing and potential customers into small groups to well manage and satisfy customers belonging to diverse groups (London Opticians Recall Lapsed Clients, 2016). These groups are divided based on some features of marketing which may vary in line of product, age group or gender bias. As far as importance of the concept is concerned the main motive of the market segmentation is to offer the appropriate products and services to the consumer instead of offering those services to the customers with diverse needs and wants. With the help of segmentation, the market can exert efforts on a single segment of market which increases the marketing efficiency and decreases the risk. Advantages of Market segmentation are it is done to increase the profitability in the market. The segmentation is used to increase the focus of an organization on a single segment and when this focus is increased, the competitiveness within the market also increases. Through segmentation of market, firms get a chance to well communicate with their customers. TARGETING The targeting of market is done to decide an appropriate segment of the market to be served, keeping in mind the nature, size and the profitability from that segment. Targeting of the market generally helps to convince a segment which exists in the market, but is not well served by the other manufacturers present in the market. Importance of targeting is it is used to identify the potential of the segment to increase the profitability of a firm. With the help of targeting, a firm can better focus on the profit potential as they can serve a single segment with the resources available with them. Some of the advantages which are associated with SAURABH ARVIND S292049 MKT502 targeting are: with the help of targeting, a firm is able to offer the appropriate goods for a particular segment. The targeting makes it easier for the customers to find the servers and for the serving firm to find the customers. The targeting of market is also advantageous for the customers to have products according to their capacity as the manufacturers are aware of the prices to be offered to a segment of people. B2C and B2B market segmentation and targeting have different process where under B2C it is important to segment and target the audience by showing some of the benefits and features of the products to convert the potential customers where in B2C the advantages to business and to ultimate customers has to be presented as these kind of markets are knowledge seeker so it is compulsory to be ready with the knowledge and advantages of the product to target business to business customers and to crack the deal. SEGMENT EVALUATION After the segmentation of market, it becomes important for the firm to determine the potential of the firm to attract the customer towards the selected segment of market. Evaluation of the segment makes the firm aware of the estimated profitability of the selected segment. B2C MARKET ANALYSES EXISTING CUSTOMERS OF DARWIN SYMPHONY ORCHESTRA The orchestra is mainly driven by its audience which includes children as many events are done for the children where orchestra gets chance to perform their concert. So, huge fan following of children is enjoyed by the Darwin Symphony Orchestra. In Australia, music is liked by many people. For them music is the way to express feelings (MAGDALEIN, 2016). It is the mode of relaxation for them that the advantage of this feature is earned by the orchestra. As much as people like music, the orchestra earns more. The cultural music concerts are performed by the orchestra which are liked by the people who are emotionally attached with their culture; spiritual concerts are performed by the orchestra which gains more audience of those people who are spiritual minded. Opera concerts are also performed by the orchestra which also attracts the attention of people in Australia. A lot of audience gets inspired of the music given by orchestra for which they get more chances to perform concerts. The existing customers are accessible and approachable with the help of data which could be maintained in concerts where these audience come as customers to see the events and watch live SAURABH ARVIND S292049 MKT502 performance, with recorded data about the audience who are their existing customers, this can be done by writing and managing the details of the customers or audience who are existing customers. POTENTIAL CUSTOMERS OF DARWIN SYMPHONY ORCHESTRA Along with the customers who are already connected with the orchestra, it has the ability to increase their customers from the potential areas. To make the potential customers as their actual customers, orchestra can perform in the promotional events which are held by the people to promote their productions. By performing in the promotional events, more people will come to know about the orchestra and people may willingly try to connect with the orchestra which will definitely increase the number of customers of orchestra. There are many theatre groups in Australia which always find to have a better band or musical people with them to make their plays more attractive, they can be the customers of orchestra by appointing orchestra in their own theatre group. People in Australia are very much concerned about the events which are celebrated by them at any cost. A lot of people try to make their events more special, orchestra can be appointed by them as well by which more people will come to know about the orchestra performances. These kinds of potential customers can be accessed by visiting various places such as theatre groups where lot many people do participate for extra-curriculum activities, these groups of people are easy to approach as they are already into same interest which is related to entertainment sector. Promotional event organisers are also easy to access by visiting various sites on which they use to organise their promotional events. B2B MARKET ANALYSES EXISTING CUSTOMERS Nowadays, the audience of the orchestra consists most of the students as more concerts are done in the universities events. This has increased the youth customers for the organization. The audience for the orchestra is scattered in many areas of the country that the orchestra is never able to sell the tickets of their concerts in every area. Due to this many customers are even not aware of the concerts performed by the orchestra every year. To remove this hindrance, now the organization has tied up with some of the sites operating their business online. Due to this, the tickets of the concerts are selling online through these sites. This has increased the customers for the orchestra as well. The organizations which are basically SAURABH ARVIND S292049 MKT502 running with a motive to raise funds are also helped by the orchestra as many events are celebrated by these organizations and they prefer orchestra to perform in those events. These organizations are also the customers of orchestra. Universities are easy to access as they have proper and fixed place where they exist and can approach large number of young population as they would be having interest in same and other sites who deals in third party ticket bookings can also be helpful where they can easily access this market through internet and also can approach to sell the tickets of DSO on their website to attract and cater larger number of audience (Aron, 2016). POTENTIAL CUSTOMERS The college feats can be a place where the orchestra can perform if they are appointed. Restaurants can appoint the orchestra as to serve the customers with some differentiated service. This can increase the customers for both the restaurants and Darwin Symphony Orchestra. The shopping malls are also there which celebrates many events to make the people aware about their mall (ALTER, 2016). These can also appoint orchestra to perform and can have the number of customers who like music. There are many non-government organizations which like to have a performance of the orchestra within their organization for getting help in raising funds. These can also be a part to contribute to the orchestra to increase the number of customers. NGO’s can be accessed through their offices by presenting them benefits of joining DSO for business purposes where DSO can help other non profit organisations to raise their funds by adding some sort of entertainment in their events to attract larger group of audience. TARGETING PROCESS B2C TARGET IDENTIFICATION AND EVALUATION OF NICHE CUSTOMER SEGMENT Shopping complexes can be targeted where huge group of audience or potential customers can be found, the shopping complexes are full of customers in weekends especially when footfall is increased due to some shopping or outing purposes. Shopping complexes usually have lot many outlets and shops under one roof where some of the big brands and showrooms SAURABH ARVIND S292049 MKT502 are available for the shopping purposes. This segment would be the perfect niche segment as the people who are coming to these kind of shopping complexes have the ability to pay and the buyer power of the customers are comparatively high and also have the ability to spend the time for the concerts as they already are interested in going out and enjoying which could help DSO to target these kinds of customers who have time and money to be spent on concerts for the entertainment and enjoyment of themselves and for their family too. RATIONALE BEHIND SELECTIONS OF SEGMENT Rationale behind the selection of this market or shopping complexes is DSO can directly target to the customers by creating awareness inside the outlets and also cantarget to the kids who are coming to these shopping complexes for fun with their families. Kids can also act as influencer for their family where they can approach their parents for particular show and concert offered by DSO (Jayashankar and Goedegebuure, 2011). under this marketing team of the organisation can target the customers who are going to shopping malls, the size of the market is very huge as there and numbers of people who are visiting these malls on regular basis and especially on weekends just to spend some time happily with their family. Shopping complexes are easily accessible where marketing team of DSO can reach any of the shopping complexes having high footfall or they can go to place where malls are having lot many customers roaming inside the mall for shopping and enjoyment purposes. Accessibility of the same is easy and size of the market is high in numbers (Azadi and Rahimzadeh, 2012). MARKETING MIX OF DSO DSO’s marketing team can get the details of the customers who are loyal with the shopping complexes where they may maintain the records of the customers who are regular to their shopping complex. Messages can be send to their numbers and emailing campaign can be done to better target these set of customers, print material can be placed under shopping complex as banners or hoarding where it will advertise about the offering and the specialised events of DSO (Woodside, 2013). Banners and pamphlets can also be placed and distributed inside the shopping complex and it can also be distributed and placed inside the outlets and different shops which are present inside the mall or shopping complex (Benyoussef and Zaiem, 2017). This way huge number of potential customers could be aware about the events and offering of the DSO which could create immense awareness and buzz in the market. Emailing campaign and messaging could also solve the purpose of targeting such a huge set of customers to create awareness about the DSO’s offerings in the market. SAURABH ARVIND S292049 MKT502 B2B TARGET IDENTIFICATION AND EVALUATION OF NICHE CUSTOMER SEGMENT Hotels can be targeted as this segment caters some of the niche set of customers who have ability to pay for the purposes of fun and enjoyment. Hotel itself is a niche segment where lot many people use to come for holidays and enjoyment purposes. Not only for holidays do have some of the customers gone to hotel to celebrate their special occasions such as birthday parties and other anniversaries. Hotels can be targeted where the purpose and focus will be placing the DSO inside the hotel and entertaining the customers by sitting inside the hotel where customers can enjoy the music while having their food. This will be value addition and will satisfy the customer in better way, as there would also be the need of hotel to add some of the differentiation factors in their offering and packages for better satisfaction of their existing customers. This can be done for the enhancement of the customer base and adding more customers to the hotels which could be profitable for hotel and DSO too as DSO will be getting a platform where they can perform in front of people and hotel would be adding some of the differential with this which could help hotel to increase their existing customer base. RATIONALE BEHIND SELECTIONS OF SEGMENT The purpose and rationale behind the selection of this market segment is the ability to pay and buying power of the customer where ultimate customer is the audience and customers of the hotel and direct customer would be the hotel with whom this deal will be fixed. The focus of the marketing team should be identifying the hotels with large existing customers and who believes in adding something new and differentiated in their services to better satisfy the customer (Farber, 2007). The deal can be cracked by meeting public relation officers of the hotels and making them understand about the offering of DSO and the advantages of adding DSO in their halls and letting them to do some of their special events to entertain the customers who are coming to hotel. The size of the market is limited as there are limited numbers of hotels but the ultimate customers would be high in numbers. MARKETING MIX DSO is already having their personal website on which they are already posting about the events which are going to take place in future and also about the events which they have performed in past. Along with their own website they also post some of the information on Facebook to attract new set of customers and creates awareness in the market through the social networking sites. DSO can also use blogs where they can post and share the links of SAURABH ARVIND S292049 MKT502 the content and events which could be related to culture and regional interest. Press and public relations can be used to crack the deal with the hotels. Advertisement can be done in the form of commercials and print to attract new customers who can hear and watch their performances. POSITIONING AND CUSTOMER BEHAVIOUR Basically, the positioning is the element with the help of which organisation can act and show their offerings in such a way that these offering can be perceived by customers in the way organisation want to perceive them. Positioning is basically the image and perception about the product or service of the organisation. Positioning should be done after analysing the step of customer behaviour where organisation can analyse the decision making, process of the customers and position their product accordingly so the customer could feel the product or service as ideal product which could solve their problem and will give benefits to the customers. Both of the concepts have direct relation as customer behaviour could be the reason behind every purchase. RECOMMENDATION Hence it is recommended that the DSO should look in for the evaluation of the markets and develop strategies that could help the business to come up with creative ideas that could help the business to expand across the different channels that will be important for the business in order to grow and develop over the period of time. Also, it will be important that the business looks in for the integration of the concepts of digital marketing and apply the social networking platforms as far as brand promotion is considered as this will tend to increase the visibility of the brand and higher the visibility, the better it will be for the business as far as growth is considered. CONCLUSION Darwin symphony orchestra has been focussing on a niche segment and as such the existing customers are limited in nature, this report draws inferences that proposes the business to implement strategies that will help the business to expand and also identify the enormous opportunities that exists as far as increasing the visibility of the brand and promoting the brand across the different platforms is considered. Along with this by the application of the SAURABH ARVIND S292049 MKT502 proper channels it is possible that the business will be able to deliver better results in terms of business productivity. 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