Chapter 1: INTRODUCTION
Management an event is the crucial task which require the active attention of parties associated with the same so as to render perfect quality of services. It is considered as the project management kind of approach under which varied activities are scheduled as per the cost and time involved under each. This proves to be effective to integrate all business activities and support management to carry out operation activities effectively. It is very important to shed light on brand awareness in order to increase the purchase intention of customers. This is because if a customer is well aware of particular brand. This aids to increase the attention of consumers and create work of mouth (Mazodier and Merunka, 2012). This proves to be effective for business to increase overall rate of return and increase the satisfaction level of customers.
There are some key factors which aids to promote the customers purchase decision to a great extent. It can be made possible only with the help of aspects such as brand, search, social media and work of mouth as well as conversions. Along with that, other factors such as intelligence, creativeness and trustworthiness are some of the factors which influence buyers to purchase a particular product or service. This in turn it becomes easy to grab their attention and ensure their inclusion in the process of repeat purchase decision (Chang and Chen, 2014). It indicates clear link between a particular brand and repeat purchase decision of the customers. This in turn, parties show their interest towards the brand by seeing advertisement and other related strategies. Purchasing decisions of buyers gets affected and due to that overall sales performance of the company gets influenced. It is critical that impact of these factors should be considered so that improvements can be made in the performance of the organization. Along with this Brand awareness gives impact on the consumer purchasing decisions of the business. There are many external and internal elements that gives influences on the buying decisions and due to that purchase of products and services in market gets affected. Advice and recommendations given by friends and family members affect the thought process of the buyer.
Companies integrate the customer facing activities so that it becomes easy to provide them quick information related to product and services. Not only this but with the help of customer focused activities firm gain the trust. Furthermore, online targeting strategies are applied by markers so as to make it possible that customers are effectively connected with the business and getting information regarding varied kind of products and services. For example, information Websites and PR as well as loyalty programs (Aaker and Joachimsthaler, 2012). It indicates that initiatives are taken by the business like Ticket desk through so as to attract clients and make them aware related to new offerings of the business. In this manner, corporate gain attraction of buyers and make it possible for them to get good quality of services and appropriate business environment. Not only this but companies use aspects such as increasing the expertise of personnel and enabling them to focus on the products and services of the corporation. This proves to be effective to determine the long run success and development.
Branding of an event has its own importance such as promotion, creating brand strategy and setting it up for success. In this manner, event management companies effective promote their services just with the help of branding. It enables firm to spread the information related to event management organization and let them aware of the importance of the particular brand. Furthermore, brand awareness is considered as the dominant choice tactic among the aware group of people. However, some of the customers do refer a brand just because of their involvement and emotional appeal with the same (Balakrishnan, Nekhili and Lewis, 2011). Though, they do not consider the same in term of price and quality due to their focus on brand only. For this purpose, it becomes important for an organization to refer the given brand and accordingly cater their requirement appropriate with introduction of several kind of promotional tools and technologies.
Present investigation is base don Ticket desk companies which is associated with several kind of west end shows, currency exchange and concert tickets as well tour packages. It contracts with several companies such as big buss and golden tours as well as secondary agents in order to increase the revenue and meet the expectations of all related stakeholders in an effectual manner. The organization is situated in Centeral London and customer foot falls is more than 400 customers every day. It reflects higher sales turnover for the business and attract more and more customers towards the same for getting the good quality of services. Company contact with different suppliers or parties such as TUI and thetrainline.com as well Saga. The cultural exhibitions and sightseeing tends to form the integral part of out product range. This in turn becomes easy to offer the services in competitive prices. On the other hand, restaurant packages and group rates are charged in order to provide the rich experience for the users. Moreover, Ticket desk provide the services in term of several tourist attraction such as London Zoo and London Eye and London Aquarium (Booth and Matic, 2011). Along with that, Tower of London and London Dungeon. Thus, firm is working under partnership with many other parties through which it becomes easy to organize the most appropriate event in accordance with different parties. It proves to be effective for deriving the higher level of satisfaction among varied parties and retain them for longer time span. In addition to this, sightseeing tour of center includes Charing Cross Island and Leicester Square Station as well as Criterion Theater. These remain open in accordance with convenience of visitors and provide them appropriate kind of service package and also help them to organize their events in a most effective manner. Feedback taken from consumers aids in making positive improvements in overall performance of the business and due to that weak; performing areas can be easily identified. Along with this comment card systems can also be used so that difficulties and issues faced by the consumers can be evaluated and on the basis of that strategies and action plans can be formed. Event management sector is facing huge challenges and competition and due to that it is critical that strategic approaches should be should so that competitive advantage can be gained for the business. Moreover, strategies and action plans used by rival firms can also be identified so that better and effective measures can be taken for meeting with the challenges that are created by the rival firms. Satisfaction level of consumers is essential so that more number of consumers can be added in the business and potential buyers can be identified. It will help for ensuring growth and success for the enterprise.
The event management sector shed light on promoting their services and giving higher level of satisfaction among customers. It is considered as the effective aspect whereby competitive edge of the business is created. For this purpose, focus is laid on quality, price and other related aspects. For this purpose, Ticket desk follow its structured approach under specific requirement of the customers are taken into account and they are provided services accordingly. It can be critically evaluated that in case business does not follow the most appropriate approach then company need to pay its cost in term of higher loss (Braimah and Tweneboah-Koduah, 2011). Here, extra benefits associated with service delivery are considered by the users or corporation under which customer satisfaction can be increased to a great extent. It contributes towards the generating the positive attitude among customers and making them aware related to presence of a particular brand. In addition to this, brand awareness among customers indicates that consumers are possessing necessary knowledge regarding the brand. It is the biggest reason that corporation operating under event management industry prepare the emotional communication package in order to create the positive affective response (Bruhn, Schoenmueller and Schäfer, 2012). This leads to increase their intention towards the brand. On the other hand, customers prefer the brand attracting them and meeting their requirement to a great extent. For this purpose, good experience of their relatives is also important so as to have positive word of mouth in the marketplace.
Advice given by friends and family members play a vital role in influencing the though process of buyers. If positive recommendations are given by friends, family members and relatives than it will support for encouraging the buyer to purchase the products that are offered by the organization. If negative reviews will be given by friends and family members than it will create negative brand image of the firm. Company should regularly make efforts for making interaction and communication with the buyers. Social media platforms can be used for making proper interaction with consumers. It will support for enhancing the business experiences of buyers and they are most likely to repurchase the products and services that are offered by the company. Along with this event management companies can make use of innovative approaches so that positive reviews can be gained from the buyers. It will aid for ensuring long term growth and survival of the business.
1.2 Significance of the study
The brand awareness is very important for the purpose of upward direction of the business which assists corporation to create strong market position. It aids to integrate all business activities and support business in deriving valid outcome. It assists corporation to adopt the most suitable sales strategies so as to increase attention of customers towards particular brand and access good brand which best meet their expectations. In modern era, competition in increasing highly which made it typical for businesses to grab the attention of the buyers. For this purpose, it is very important to shed light on expectations of customers. However, role of latest communication technology is very important through which companies come into the contract of buyers and make them aware related to range of products and services. Though, it is the fact that brand conscious customers would not likely to switch from another brand frequently unless they get dissatisfaction from the current one (Buil, De Chernatony and Martínez, 2013). However, some unique features available with brand attract them to switch towards the new brand. In order to beat the competition and retain customers, companies are opting suitable strategies for through which positive attitude is generated among customers they stay connected with a particular brand for longer time span.
The study under consideration would be effective to understand the link between brand awareness and its direct impact on the purchase intention of customers. This assists management to deliver good quality of services to potential buyers and address the issues which are being faced by them in searching for the best quality of products and services. Here, mid-sized companies offering services at higher cost would be provided the suggestions related to higher customer satisfaction and implementing the cost effective strategies so as to derive greater revenue for the business. Furthermore, event management business of UK suffer from greater competition due to available of varied tourist destination and operation of number of tour operators in the same. Owing to this, it becomes typical to approach the customers and enable them to access the cost effective sources so as to retain them (Buil, Martínez and de Chernatony, 2013).
In addition to this, current thesis would be effective highlight that how outcome of the study can be applied under the Ticket desk for repeat purchase decision of clients and ensure its expansion at global marketplace. Furthermore, study would be effective for parties contributing towards the field of literature. They can use the literature in order to construct valid outcome and apply their knowledge for completion of the investigation in the most effective manner. Apart from this, students who are doing studies in the similar field will find the study most effective for their reference. In addition to this, most important advantage can be considered in term of mid sized event management companies which are operating their business at small level and struggling to create their competitive edge in the marketplace. Therefore, current study on assessing the impact of brand awareness on purchase intention of customers is very important to bring important improvement.
1.3 Problem statement
The customer in the modern era has become quite brand conscious so it becomes challenging for marketers to gain attraction of such kind of powerful customers. However, this affect the performance of the event management companies by reducing their rate of return and decreasing the customer base. Owing to this, present study has been conducted to analyze the impact of brand awareness on customers purchase intention. It enables companies to assess those factors through which customers can be attracted shifted towards the particular brand. It enables management of the business to apply most effective strategies for promotion of their brand and make the customers aware of the same. At this juncture, marketing mode, reward strategies and uniqueness in the current products and services are considered (Dolbec and Chebat, 2013).
Furthermore, the brand awareness is based on marketing and its direct impact can be seen on purchase intention. Owing to this, present investigation is carried out to assess that how brand awareness contribute towards increasing the purchase intention of UK event management industry. In addition to this, specific focus is laid on Ticket desk as the mid-sized organization through which it becomes easy to evaluate the importance of brand awareness. Thus, issue related to brand awareness and its direct impact on purchase intention of consumers. Therefore, study under consideration has been taken into account so as to produce valid outcome and draw valid the inferences in order to meet the specific research objectives effectively. Apart from this, issue related to lack brand loyalty among customers is affecting the performance of the business and increasing the operation cost (Balakrishnan, Nekhili and Lewis, 2011). This can be resolved only by increasing the brand loyalty among users. It aids to utilize the limited resources effectively and ensure its contribution in the process of creating competitive edge of the business. Hence, completing the entire study would be helpful for event management industry to address issues related to customer retention.
1.4 Research aim and objectives
The research aim and objectives of the study is presented in the following manner which proves to be effective to complete the thesis in the direction of selected methodology.
The aim of the current research is to carry out a critical investigation on how brand awareness impacts on the purchase intentions of customers in the UK event management industry and then, to determine how mid-sized event-based companies located in the UK is able to develop effective customized sales strategy which influence the purchase intentions of their target