Woody Point Festival Case Analysis
With its inception in 2004, the Writers at Woody Point Festival have become an ever increasingly popular annual literature festival for Newfoundland’s west coast. The festival has grown each year and has now reached the point where council believes a formal marketing strategy and plan is necessary for the festivals short and long term economic sustainability in the ever-increasingly competitive literature festival market. To create the marketing strategy for the festival, analysis will include looking at the events strengths and weaknesses, as well as its opportunities and threats in its external environment. Viable options will then be considered that will dismiss managements concerns, which will further be explained through specific recommendations for both short and long term for management to implement for the festival. Analysis
In this next section S.W.O.T analysis will be used to analyze the festivals strengths, weaknesses, opportunities, and threats which will provide the framework that the recommendations will be based upon. The festival has many strengths that have enabled its continued success since its infancy. The location for the festival alone is a great strength as it takes place within the popular Gros Morne National Park which provides a setting of amazing natural landscapes, and spectacular scenery for the event. It is apparent that the festivals majority of customers are locals from nearby communities, which is great as it shows the festival has the support of the nearby communities, and does not rely on visitors from afar or out of the providence. The strong focus on community can also be seen within the festival as there are various local artists, musicians, and writers showcased along with the numerous local programs and collaborations with local arts groups, including the: Theatre Newfoundland and Labrador, Gross Morne Summer Music Program, and school outreach programs. Another key strength for the festival is the increasingly growing support and fundraising received from large corporate businesses, government, and local businesses. This is beneficial for the festivals future long term because it will help provide the economic sustainability to continue growth and operations that management is concerned about. The last strength is the festivals continued support from local volunteers, including the board of directors and event coordinator who volunteer their time for organizing the festival. This allows the festival to allocate more money from the surplus each year towards marketing, and any other ventures it may want to expand into.
Weaknesses in the festival are problematic to management and should be handled cautiously. The sheer growth that has occurred in previous years has put a burden on the festivals facilities, including limiting ticket numbers. By limiting ticket numbers for the festival, the organizers are capping their growth potential, which can affect the future potential to penetrate the market. Ticket prices which have remained constant since its first year should be reevaluated to reflect the increasing demand. Another key weakness affecting the festival is the lack of sufficient nearby lodging for it’s out of town guests. By not having enough lodging nearby for out of town guests, interested potential customers may be turned off and decide not to attend the festival, as well risk festival numbers for the scheduled nightly activities.
Opportunities for the festival will allow the festival to continue to develop each year, and penetrate the market. The festival which takes place at a national park could attract camping families to attend the festival by promoting it as a key travel destination for those travelling in recreational vehicles. Next, the scheduling of more music concerts for the younger crowds also would be a great new opportunity the festival can use to expand future growth. The younger...
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