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D1 Unit 4 Business

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The Isle of Wight Festival ages back to August 1968. It is a special event in the UK. According to the Business Dictionary (2017), an event is defined as “occurrence happening at a determinable time and place, with or without the participation of human agents. It may be a part of a chain of occurrences as an effect of a preceding occurrence and as the cause of a succeeding occurrence.” Special events are defined and classified based on a variety of factors. A SWOT analysis is conducted to ensure the success of an event and also a marketing mix in developing a marketing strategy for an event. In addition, marketing segmentation, targeting and positioning as well as careful risk management which is important for the success of an event. In creating a marketing strategy for a small community events, all these concepts must be considered.

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For a small event such as a Food or Farmers Festival cautious planning must be done. A Food Festival will allow local farmers, chefs and others in the community to highlight their local produce and sellers in the area. This festival will also allow attendees to get a chance to eat all the delicious food that will be highlighted at this event. This will be a form of segmenting the market as it will identify the needs of the people and be beneficial. With targeting and positioning, the local people of the community will be targeted as attendees. Decisions will be made to better reach the targeted market effectively. This would include pre event such as social media announcement and day to day announcements. Positioning will be done by putting all the decisions into perspective for the event. Risk such as overcrowdings, traffic and parking must be managed for a successful

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