Caroline and Jennifer said that ‘Market segmentation is a crucial marketing strategy. Its aim is to identify and delineate market segments or set of buyers which would then become targets for the company’s marketing plans.’ (Tynan and Drayton, 1987) There are many ways to segment the market, such as age, region, environment, psychology and wages (Hall, Jones and Raffo, 2010).
Because it is a music event which includes camping, so the attendees must be able to be free for less than three days. As the objective says, the attendees should better be young people so that this event could spread young culture. People who are young also will have the passion to attend music events. As the price of Glastonbury Festival is very high which could be hundreds of ponds for just three days, so the market segmentation should be people with high wage or students whose parents have high wages. To sum up, the market segmentation should be young people who have high wage or their parents have high wages, love to attend music events and may accept the way of camping for days.
5.2 Environmental Analysis
5.2.1 SWOT Analysis
The SWOT analysis form is showed as Appendix 2. From SWOT Analysis, the strength, weakness, opportunity and threats will be defined very clearly. The strength is very obvious; it is already a very big event so that it does not need to do a lot of promotions and it is becoming more popular. People, local company and the local government will support this event because it will bring a huge amount of tourism so that the local economy will increase as well.
The weakness is also very clear. As there will be 177,500 attendees during the event, there will be a lot of garbage created and need to be collected.
The major opportunity is that the awareness of local product and the whole local economy will be improved better.
The main threat is that the event should depend on the weather and the garbage problem should be improved as soon as possible.
5.2.2 PEST-G Analysis
The PEST Analysis is showed as Appendix 3. The PEST Analysis is the external impact that could affect Glastonbury Festival. One thinks that the most important part that they should focus on is the Green part. As Glastonbury is an event that with objective about environment and corporate with Greenpeace and Water Aid, they should bring a better image about protecting the environment.
5.3 Marketing Mix
Event ticket, record CDs, clothes for Glastonbury, posters, tent renting, coach buses
£210 + £5 booking fee per person, with deposits of £50 per person payable on October 6th. The price of coach buses depends on where the audiences take on. The price for tent starts from £105 person for 5 nights.
In the whole town of Glastonbury
5.3.4 Promotional Mix
For Glastonbury Festival, as it is a music event with a long history, it has a huge number of existing audiences. It does not need to do a lot of promotion to attract new...