By means of this document, the approach to Panama* is to present a marketing communication plan proposal. The assignment is to fulfil panamas objectives for the upcoming year. Therefore a marketing communication plan will be written. The aspects of marketing communication is to bring advertising, sales promotion, public relations, and direct marketing into one marketing mix together. To achieve the objectives of panama the communication plan has been researched and developed based on the following considerations:
The marketing analysis: the needs, characteristics and environment of panama and its competitors are analyzed, and the target group is defined -The marketing objectives: the objectives of panama will be described in detail for the up coming year
Marketing strategy: here the strategy for achieving the objectives will be explained and the target group will be described in detail as well
Marketing operations and implementation: how to work with the marketing mix, which channels and promotion tools will be used, taking costs into consideration.
Over the last few years, the entertainment industry has become bigger and bigger.
People can chose from a broad variety of offers to spend their leisure time. In the Netherlands Panama is a famous night entertainment venue. Located in Amsterdam it offers the customer a unique experience of a combination of a restaurant, theatre and night club. Panama competition is large; therefore a good marketing communication is essential. If a club like Panama does not communicate well to its target audience, people will go to the competing clubs because they are not aware of what Panama offers them.
The main focus of Panama is on its DJs. People come to the club because of the popular DJs that play. Panama wants to attract more loyal customers who come and visit the club on a regular basis. They want them to come because they like the club, not only because of the DJs. Furthermore they want to promote the restaurant and the theatre, because people are not aware of the fact that Panama is more than a night club. This means, Panama needs to come up with a strong marketing communication plan, to increase visitors and especially loyal visitors. Strong promotional tools re needed to make the communication mix strong and effective. The campaign should fit to the image and reputation of Panama.
This aspect of the work comprehends the factors of demand from the different target groups. And with this information, it is possible to assess the competition and forecast their possible responses.
Panama is a night club located in the harbour of Amsterdam. Besides being a night club, Panama also locates a very good restaurant and theatre where live performances of bands, DJs and comedians take place. It is known for its exclusive atmosphere and special decoration. The restaurant can be divided into interior and exterior. During the summer a big terrace is open where approximately 100 people can enjoy dinner with the exclusive view on the Amsterdam harbour. The current communication is mainly focused on the website of Panama. From the website people can get information about upcoming events, shows and DJs.
It is the main tool to communicate to the target audience. Furthermore Panama communicates to people from all over the world by all their famous DJs. The DJs go to internationally known hot spots of the industry, like Ibiza, Las Vegas and Miami and promote the club Panama during their shows. People who visit these clubs abroad are aware of the existence of Panama, so come to Panama as soon as they are in Amsterdam. Another communication tool is the merchandising of Panama. At the club’s shop you can by products that remind you of your stay at Panama. You can also buy these products on their website.
As a proof of the international awareness of Panama an international website describes Panama as follows: “Pricey wines and classy French fare are the name of the game at Panama – we just wonder why they didn’t call it Paris. Located in a spacious former Port Authority building on the edge of the city, it’ s a multi-room interior with restaurant, nightclub and theatre – perfect for an upmarket dinner, drink and dance with your date. Finely crafted cocktails are delivered to tables packed with a laid-back crowd of young lookers who are drawn to the high windows, soft light and minimalist decor.
In comparison to the Panama and to ‘The Power Zone’, ‘The Zebra’ is directly located in the centre of Amsterdam at the ‘Leidesplain’ which must be stated as an excellent location as being attractive for regulars and visitors which are not familiar with the whole club-offer in Amsterdam. Communicated via the marketing strategy is clearly the focus on ‘The Zebra’ being a young, trendy location where visitors of all kinds will find what they were seeking for. Integrated in the concept is the transformation of fashion, style and sex-appeal whereby the diversity of visitors and the uniqueness of the location take central position.
Music is taken as a feature for meeting people and having a good time while enjoying a cocktail, rather than listening to extraordinary acts. The major aspect of the ‘The Zebra’ is that exclusiveness is offered by providing the feeling of being trendy instead of having the feeling of being rich. In comparison to Panama, the Zebra offers next to the club and bars no further attractions like a theatre or restaurant. The main and only focus is to entertain visitors with the night-club, in which several lounges and cocktail bars offer the opportunity for having a nice evening that promises the visitors to dance, drink and meet.
On the basis of high charges for entrance and drinks, visitors certainly can be determined as having an interest in exclusive treatment and an elite ambience. In addition to that, Panama is astonishing successful with their concept of having admired acts and DJs which leaves the conclusion that visitors in fact are being attracted and aware of this intercontinental booming music-scene of trance, house and electro music. Thus, Panama’s customers, of particularly the Night-Club, take advantage of the information flow offered via the website and, as a consequence, contribute more enthusiastically.
Market Analysis Panama is located in the centre of the netherlands in amsterdam, a well kown citie around the world. It is the capital city of the Netherlands. The Netherlands represents an economically healthy nation in which the government has reduced its role radically since 1980. The ethnic origins of the citizens are very diverse, and the opposition to new ideas and cultures is barely null. For the prospective audience of the entertainment industry, Amsterdam would represent the most adequate venue for the coming objectives of attracting national and international visitors.
The means of transportation ease for the public the use of alternatives to a car, promoting a very powerful unconcern for going out and consume the products of the so called night businesses. The presence of several competitive firms hinders the possibility of standing out and imposing the presence of a certain static concept in an effective way. Public is growing wiser over the marketing strategies of the different media they are being exposed to, and for the same reason, they are becoming reluctant to adopt an existing concept as a part of their lives.
For this reasons, it is hard to retain a recurrent audience without a connection to them. That is because Amsterdam is located in the centre of Europe and easily to reach also from visitors of Belgium, England and Germany. As conclusion: The Netherlands is a country with an international outlook, where foreign visitors and refugees quickly feel at home. For centuries, Amsterdam has been a ‘melting pot’, and its lively, international and cosmopolitan atmosphere explains its popularity with other nationalities; close to half the city’s residents have foreign or ual nationality. This sets the basis for a stronger and loyal target audience for Panama.
Product Analysis Panama should retain the expectations of the new consumer behaviors and trends for the entertainment industry. As the acknowledge and recognition of the strategies for promotion is evolving every day, the product must project the personality of the target it attracts. With that objective taken into consideration, we plan to connect the ideal of Panama with the exclusivity of its clients and the ideals of its competitors.
Panama is the experience of perform and be surrounded by a special elite. Panama is the venue where people enjoy the presence of friends and colleagues. But Panama is hidden from new public and that represents an obstacle for prospective members to adventure into the concept. People tend to search more for the event the company offers than the company itself. On the whole the target group runs from people of 21 to 40. Because Panama is an exclusive place to go out, prices are higher than in other clubs. Therefore Panama focuses on an upper class public.
The club is located in the so called ‘Manhattan of Amsterdam’, which means it is a top location near the industrial heritage of the city. Parking space is highly accessible at Panama. It is located closely to a highway, so it is an attractive place for business and leisure. Panama offers an extent space where parties can be held, people have diner at the separated restaurant, have a drink or enjoy the theatre show. Due to the fact that panama is exclusive the customers have a lot of money to spent, because they are well situated and do not watch every penny they spent.
After researching Panama and his competitors you can say that, the main focus of Panama is the special night out they offer his guests, which includes the separate restaurant and theatre besides the club. It wants to deliver a whole special night out. This special treatment only offers Panama. Weaknesses It seems that people’s decision whether to go or not to go to Panama* depends on the DJ that is performing, therefore the club is not sold out every night. It does not have customers who come on a regular basis to the club without the interest of the performance of the night.
Panama only reaches people who have a car or can afford to take a cab. The location of Panama is also a weakness, because it is not located direct in the city centre of Amsterdam where it is easier to come too. The prices of Panama either in the club or in the restaurant are very high. They only attract richer people. This is more niche marketing, so it is a weakness of Panama that they can not target on a random public. Opportunities An opportunity for Panama* is to give the brand more awareness to the target group they could this via business to business.
It could attract more guests’ will the club is sponsored via well-known brands, where the exclusiveness of the club will be better defined as well. When the exclusiveness of the club increases the amount of loyal customers would rise as well. Another opportunity for Panama would be to improve the website, because it is the signboard of the club. It has to be more exclusive and trendy more what the target group has in mind about a special evening out and an exclusive night-club. Threats A threat to Panama* is that it is only known for it famous DJ’s but not for the club itself.
It can happen fast that other night-clubs adopt the same strategy and then Panama will loose his customers to other clubs. The number of coming guests would decline highly in times of a bad economy, because Panama is a luxury nightclub and restaurant where people have to spent money when they are going there to have a nice evening out and when the wealth of the loyal customer disappears the customer disappears as well.
The marketing communication objectives define what exactly Panama wants to change with their campaign. The main focus should be to increase the numbers of visitors for the different aspects Panama offers: The club, the restaurant and the theater. People should visit Panama more regularly and not only if they know that their favorite DJ is playing.
It is important to separate Panama from its competitors but not just copying the competitors concept. In general Panama wants people to come and visit the club, restaurant or theater if there is no special artist or DJ performing. Facts and figures for the club campaign: Panama wants to increase loyal visitor numbers by 25% during the next year Panama wants attract people of the target group but have not been to Panama by 15% – Panama wants to increase the number of daily visitors by 5% In order to measure the objectives the visitor numbers will be counted on a monthly basis.
By this Panama can figure out if the new marketing strategy works out or not and maybe adjust it during the time its running. For the restaurant the objectives will be different. The campaign will be separated from the club campaign. The results should be similar to the objectives of the club campaign but it is not expected to be as successful like the club campaign.
Facts and figures for the restaurant campaign:
Panama wants to increase loyal visitors by 15% during the next 6 months.
Panama wants to attract people from the target group who have not been to the restaurant by 25%.
Panama wants to increase number of daily visitors by 10% 5.
Marketing Communication Strategy “An effective marketing strategy sells the brand, not the company…” Levick. In order to define the characteristics of the media used to send Panama’s message, a communication strategy has been designated to pull visitors to the concept by inviting them to join a community that will expand without further effort.
The marketing strategy will be a pull strategy. The targeted consumer will be pulled into Panama by different tools. The overall strategy will divided into a strategy for the club and one for the restaurant. As a solid basis for the development of an effective marketing strategy is taken the fact that Panama* mainly focuses on the promotion of their Night-Club and their Restaurant. Therefore, in this Marketing Communication Plan, strategies for the Theatre are excluded. This decision is based on the fact that our research reflects a direct promotion by the play or erformance and not by the venue.