The paper "Advertising: Promotion of the Laneway Proposal in Australia and Singapore" is an outstanding example of an assignment on marketing. Laneway Festival started as live band music concerts and has been operating within Australia. Its growth has been tremendous and this resulted in expansion into Singapore. However, its salience has been low and it also faces competition from other music festivals, more especially the Big Day Out festival. It is therefore important that this festival is promoted so as to ensure that it is known more widely. This report will discuss ways through which the festival can be advertised and promoted.
It will include various recommendations and their justifications on how to build awareness in a fun way. To better reach out to people in Singapore and in Australia, Laneway Festival should develop a promotion and advertising strategy. According to Marketing Made Simple (2012), promotion is considered as a key element in the marketing mix and it involves any communication way; be it one-way or two-way, which occurs with the customer. Laneway Festival should, therefore, develop a promotional strategy that will focus on advertising it to the target market and make people aware of its existence and the services that are offered.
The marketing manager needs to develop a strategy for marketing communication. The manager is required to make key decisions on who the customers of the festival are, how the customers can be contacted and the message that shall be conveyed to them (Marketing Made Simple, 2012). Baines et al (2005) stated that the answers faced by the manager can be answered by a three-stage process known as the STP process (segmentation, targeting, and positioning).
This process is used when the market is mature, the needs of the customers are diverse and there is a need to reach niche or specialized segments. For this reason, the Laneway Festival manager should first segment their market so as to identify the people to be reached. These are particularly the people aged 18-24. The segment will also show that these people are the correct target group since they are the people who are most likely to attend festivals. This will also help the organization to identify new opportunities for products in terms of the needs of the people.
Besides this, the manager should identify suitable positioning of the festival and the communication strategies that will involve the kind of message to be communicated to the target market. Baines et al (2005) further stated that organizations that operate in environments that are highly dynamic will conduct segmentation frequently so as to keep up with the changing market. Such a case applies to Laneway Festival since the target market is always changing with time and they will need changes in the services that they are being offered.