Marketing Strategy – Event Planning Business
It is important to choose a marketing strategy that considers the environment, the competition and your products’ strengths and weaknesses.
- What is the competitive strategy for your company? Using Porter’s Generic Strategy, which approach will you use and why?
- Once you identify your approach, discuss how your strategy will be implemented given the market forces. For example, if you choose a differentiation strategy, how will you differentiate your product or service from the competition?
- Will your prices reflect the strategy you chose? How will you market to the audience reflected in your strategy?
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Marketing Strategy – Event Planning Business
The competitive strategy of the even planning business is to provide event planning services that are lower compared to other companies within the industry. In any industry or market, providing goods and services at lower prices than other companies creates an edge for the company within the market. According to the Porter’s generic strategy, the firm is met with a weakened bargaining power from the customers since many accept the pricing strategy that is used by the company (Bischoff, 2016).
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