CMNS 112
The Axis
Interoffice Memo
______________________________________________________________________________
In order to present a valid marketing recommendation that will increase revenues for The Axis, I have conducted a survey among 220 students from the university in Adams City. Since The Axis is trying to target the college-aged students, it is but proper to study our market and determine what their preferences are.
Findings and Analyses
The results of the survey show that out of the 220 respondents, only 3.2% consider The Axis as a favorite concert venue. Among the students surveyed, 55.9% prefer The Rage as a concert venue. One probable reason why The Axis is not a favorite concert venue is because it is perceived as a venue for concerts for mature audiences.
Relative to The Axis, the ticket prices of The Planet West and The Club, are perceived to be more reasonable. It is worth noting though that although the ticket prices of The Rage are rather high, they are still the preferred concert venue. The survey, however, revealed that discounts are very important to ticket buyers.
The results of the survey show that most students get information about concerts through word of mouth. Word of mouth is when people talk about how good one’s product or service is without the company paying them or even without hiring a public relations officer. Through the survey, one sees the major role played by word of mouth advertising in getting people to come to a concert venue. There is therefore a need for The Axis to determine what features or services they should introduce in The Axis for people to talk about it.
A very small percentage, that is, 10% only of the respondents rely on flyers and magazines. On the other hand, newspapers are widely used by all concert venues which is justifiable since it ranks number two source of concert information for students.
Internet advertising is another source of concert information of students. It is noticed that The Planet West does not use internet advertising while all other concert venues do. With the growing popularity of social media networks, it may be worthwhile to invest in internet advertising because information spreads rapidly.
With regards to radio advertising, it is again observed that The Planet West does not use it while all other venues employ this tool. Radio advertising is an effective advertising tool because 19.1% students who were surveyed relied on the radio for concert announcements. Considering the importance of radio advertising, The Axis should look into how they can maximize their radio advertisements to increase their customers.
The figures on the source of concert information should be taken into consideration in deciding how the advertising budget should be allocated.
The results of the survey are summarized in Table 1 and Table 2 below:
Recommendations:
Based on my findings and analysis of the survey results and my study of The Axis’ competitors, I have come up with a set of recommendations which will hopefully attract the college students to The Axis,; thus, increasing our revenues:
Print ads that will be used in newspapers should have color and must include pictures of the performers.
The Axis website should be improved to make it more attractive. Information on performers, date of concert and ticket price should be included. It must be updated regularly.
Eliminate magazine advertisements as it is not an effective marketing tool for concert venues.
Lower prices to make it more competitive.
Sponsor on-site promotions and contests which will give away free or discounted tickets.
Change the image of The Axis from a mature audience concert venue to a college students’ concert venue. This can be done by making the print ads more appealing to the youth.
Develop a close relationship with radio stations and actively promote concerts through their shows.
If flyers will be distributed, it should be done in the University.
Build tie-ups with record stores, especially those near the University.
- Create a presence in social networking sites by creating a Facebook page or a Twitter account to increase followers of The Axis.
The above recommendations may serve as guidelines in formulating the marketing strategies that will be adopted by The Axis. I am willing to discuss with you in greater detail these recommendations, at your convenience. I believe that with these proposals, The Axis can achieve its goal of becoming the favorite concert venue of the youth.
Thank you and best regards.
