Lesson 4. Assessing Experience Economy Strategies of the Business

1
Lesson 4. Assessing Experience Economy Strategies
of the Business
2
Quick Links

• 4.1 A 4E-based Marketing Plan to Help Define the
  Firms Position and Image
• 4.2 4E-based Strategy Formulation
• 4.3 Strategy Implementation and Evaluation
• Assessment Tool I Marketing Plan Framework

3
Introduction

• Lesson 4 provides business operators with
  practical background for developing a sound
  marketing plan for their business. It consists of
  three sections
• 4.1. 4E-based marketing plan,
• 4.2. 4E-based strategy formulation, and
• 4.3. Strategy implementation and evaluation.

4
Introduction (continued)

• The first section (4.1) introduces what a
  marketing plan is and how it can help business
  operators enhance their business, leading to
  increased profit. The second section (4.2)
  provides guidance and tools to analyze the
  current business situation so that the operator
  can have a better understanding of the business
  conditions from which to develop effective
  marketing strategies. The last section (4.3)
  presents ways of developing marketing strategies,
  implementing the strategies, and evaluating the
  strategy outcomes.

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4.1 A 4E-based Marketing Plan to Help Define the
Firms Position and Image
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4.1 A 4E-based Marketing Plan to Help Define the
Firms Position and Image

• As noted earlier, a strong, highly differentiated
  business image attracts new customers as well as
  retains current customers. A marketing plan is
  important in positioning the business to be
  different from competing businesses in the minds
  of customers. A business operator uses the plan
  as a guide for decisions on improvement to
  content of advertising and choice of promotional
  events, so that customers form a strong image of
  the business, including its uniqueness.

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4.1 A 4E-based Marketing Plan to Help Define the
Firms Position and Image

• The present lesson provides a systematic
  approach to developing a well-designed marketing
  plan. Some of the reasons for having a marketing
  plan are
• Aligns all marketing activities with the firms
  mission statement and long-term strategic plans
• Helps operators/owners to review and think
  objectively through all steps in the marketing
  process
• Assists in the budgeting process to match
  resources with marketing objectives
• Creates a process to monitor actual against
  expected results
• Helps position the firm competitively in the
  marketplace

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4.1 A 4E-based Marketing Plan to Help Define the
Firms Position and Image

• A marketing plan to help define effective 4E
  strategies
• The marketing plan presented here focuses on
  developing Experience Economy (4Es)-based
  marketing strategies for a firm. The building
  blocks of a 4E-based marketing plan are presented
  in Figure 4-1 and they are discussed individually
  with a complementary worksheet in Assessment Tool
  I. Business operators should follow the stepwise
  directions and illustrations for each building
  block to develop their own effective marketing
  plan.

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Figure 4.1 Building blocks of a 4E-based
marketing plan
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4.2 4E-based Strategy Formulation
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4.2.1 Mission statement

• The very first task in a marketing plan is to
  review (or develop if absent) the mission
  statement of the business. The mission statement
  must answer the question, what is our business?
  The mission statement should express an
  organizations
• Purpose
• Approach to managing the business
• Primary offerings
• Target customers
• Concerns for employees and the community (David,
  1995 Radtke, 1998)

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4.2.2 Situation analysis

• Situation analysis, also called environmental
  analysis, refers to collecting, analyzing, and
  interpreting information and trends that affect a
  company. An operator needs to constantly monitor
  these trends and conditions to estimate how the
  changes may affect the business. A primary goal
  of situation analysis is to identify current
  organizational strengths and weaknesses and
  emerging opportunities and threats (referred to
  as a SWOT analysis).

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4.2.2 Situation analysis (continued)

• The results of the situation analysis help
  operators determine the direction of their
  business, including the use of the 4Es. For a
  4E-focused marketing plan, situation analysis
  consists mainly of
• Internal audit of offerings
• Market trends analysis
• Market potential analysis
• Competitive analysis.

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4.2.3 Internal audit of offerings

• The business operator must conduct an internal
  audit aimed at identifying current strengths and
  weaknesses including the 4Es offered to the
  customer. The 4Es can result from a customers
  interaction with the sensory, physical and
  interpersonal components of the 4Ps of the firm
  Property, Product Presentation, Promotional
  Application, and People. Note that the 4Ps for
  the 4E-based marketing plan are slightly modified
  from the classic, product-oriented 4Ps of
  marketing (i.e., product, place, price, and
  promotion). Such modifications are necessary to
  aptly apply the concept of 4Es.

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4.2.3 Internal audit of offerings (continued)

• In combination, these 4Ps create the business
  experiential offerings. The present lesson will
  explain the 4Ps and provide an Assessment Tool
  I.3.1 to complete an internal audit of the
  business experiential offerings. This audit
  provides the operator with a better sense of the
  strengths or weaknesses in the depth and types of
  4Es that differentiate the business and where
  there may be room for improvement.

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4.2.4 The 4Ps Property

• To conduct an internal audit over the
  experiential nature of the sensory, physical, and
  interpersonal components of the business setting,
  the form (e.g., color, line, size) and content
  (i.e., emotional effect and message) of the
  following should be examined
• Property becomes the stage for the business,
  including store, restaurant, hotel, and BB
  buildings and interiors, where customers interact
  with goods or partake of a service. Property also
  includes auxiliary assets such as delivery or
  shuttle vehicles that send a message to the
  customer about the business offerings.

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4.2.4 The 4Ps Property (continued)

• Property relatively permanent (i.e., physical
  and time-wise permanence) business assets such
  as
• Architectural design elements
• Interior design elements
• Landscape design elements
• Business name or location signage
• Artwork
• Business vehicles

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4.2.4 Example of Property
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4.2.5 The 4Ps Product Presentation

• Goods and services are enhanced through sensory
  elements (e.g., music, scent) and physical
  elements (e.g., display units, props) of Product
  Presentation. Like music and props of a
  theatrical production, Product Presentation
  elements enrich the experience for the customer.
  

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4.2.5 The 4Ps Product Presentation

• Product Presentation easily changeable elements
  of the setting that surround and enhance goods or
  services including
• Display units and props
• Product labels
• Product samples
• In-store signage
• Presentation materials, such as
• Packaging, wrapping paper for retail products
• Tableware, table linens, menus for food service
• Bedding and linens for BBs
• Music
• Scents and tastes

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4.2.5 Example of Product Presentation
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4.2.6 The 4Ps Promotional Application

• Experiential aspects of the business are
  announced and emphasized through Promotional
  Application. The firms Website can be one form
  of Promotions, but we will focus on other forms
  in the present lesson because they become sources
  for the Website design, as will be discussed in
  Lesson 5.

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4.2.6 The 4Ps Promotional Application

• Promotional Application informational outlets
  and activities for publicizing/promoting the
  business offering or name including
• Advertisements
• Brochures or catalogs
• Banners
• Newsletters
• Stationary and business cards
• Press releases
• Public relations and special events

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4.2.6 Example of Promotional Application

• Example of Promotional Application

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4.2.7 The 4Ps People

• Personal attention and personalized service are
  strengths of many rural small businesses (Morris,
  1998). This suggests the potential of
  experiential offerings created through
  interactions with the staff, which is defined as
  People.

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4.2.7 The 4Ps People (continued)

• People qualities of staff and/or customers that
  affect customer experience including
• Physical appearance, such as
• Staff uniforms or costumes
• Hairstyles and grooming
• Interpersonal behavior, such as
• Warmth, humor, interpersonal communication skills
• Displaying or sharing of knowledge, skills, or
  experiences

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4.2.7 Example of People

• Example of People

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4.2.8 Market trends analysis

• Market trends are identified by analyzing
• Customer behavior trends and preferenceand their
  changes over timefor the key business offerings
  (e.g., 4Es) of the business
• Trends among business competitors in terms of
  focus of competition, emerging new competitors,
  modifications of offerings by key competitors,
  and new product developments that pose threats to
  the companys current offerings.
• Industry trends as a whole, for example
  industry standards of offerings, general
  direction of industry movement, and other changes
  within the industry

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4.2.8 Market trends analysis (continued)

• Information relevant to these trends comes from
  sources such as
• Chambers of commerce
• Convention and visitors bureaus
• Universities
• Government agencies, such as small business
  development centers
• Trade associations
• Commercial organizations, such as marketing
  research firms and advertising agencies
• The operator can also conduct research with
  his/her own customers to better understand market
  trends regarding changes in customers
  preference, including their response to 4E
  offerings.

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4.2.9 Market potential analysis

• In market potential analysis, the operator
  estimates the total demand for the business
  offerings. Although precise estimates are
  impossible in most cases, the operator tries to
  think out the best estimate through a logical
  process. For example, the operator can estimate
  whether the lodging business in a town is
  overbuilt or under-built (in a percentage term)
  by considering such factors as
• total number of available guestrooms
• average occupancy percentage by the competitors
• total visitor volume

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4.2.9 Market potential analysis (continued)

• Whenever possible, all estimates should be
  expressed in concrete terms such as percent,
  number, and dollar. For example, the total
  demand of our target market is 2,250 rooms per
  month and by increasing Esthetic experience
  (e.g., enhancing design of the property), our
  company can enhance market share by 10.

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4.2.10 Competitive analysis

• In addition to analyzing the trends before, the
  operator should identify his/her main competitors
  and conduct an audit for each using the same
  Internal Audit checklist on Assessment Tool
  I.3.1. By using the same audit checklist, the
  operator can easily compare his/her company and
  competitors in terms of 4E offerings. The
  competitive analysis can be done and related
  information can be collected through shopping
  the competitor, interviews with customers of
  competitors, first-hand market research, and/or
  expert opinions.

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4.2.11 SWOT analysis

• After gathering trend, market potential, and
  competitor information, a SWOT analysis
  (Strengths, Weaknesses, Opportunities, and
  Threats) can be completed for the company and
  competitors. Typically, the strength and weakness
  of the business are identified from the internal
  audits, while market trends/potential and
  competitive analyses help identify emerging or
  neglected opportunities and threats that are
  external to the business. The Assessment Tool
  I.3.5 will help the operator construct a SWOT
  matrix.

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4.2.12 Positioning

• Positioning refers to placing a business clearly
  in the minds of customers by instilling a strong,
  salient, and positive image. An effective
  positioning should be able to address the SWOT
  identified before. Positioning begins with
  development of a strong theme that also fits the
• Mission and core offerings (4Es in particular)
• Market needs and preferences
• Effective differentiation from those of
  competitors.
• An example in Assessment Tool I.4 illustrates a
  firms positioning theme.

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4.3 Strategy Implementation and Evaluation
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4.3.1 Marketing objectives and strategies

• Once the steps mentioned earlier are completed,
  the operator sets marketing objectives. In
  general, marketing objectives must be
• Achievable and realistic
• Expressed in clear numeric terms such as dollars
  (), percent (), number, or other quantitative
  measures (for example, increase the occupancy
  rate by 5 in the next year or increase the
  average seat turnover from 1.8 to 2.5 for dinner
  in the next year)
• Time-specific--containing a specific business
  deadline for achieving the goals (for example,
  six months, next year, next two years, etc.)
• Partially achieved by adding 4E strategies

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4.3.2 4E offering strategies

• To accomplish the marketing goals laid out
  before, the business operator needs to seek
  proper 4E offering strategies. In this lesson, we
  focus on developing a comprehensive 4E offering
  strategies. 4E offerings, here, are broadly
  defined to include not just tangible goods and
  instrumental services but also the 4Ps (Property,
  Product Presentation, Promotional Application,
  and People) that also contribute to the
  experiential offering.

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4.3.2 4E offering strategies (continued)

• First, developing 4E offering strategy requires
  (re)designing or selecting goods, services, and
  experiences to better meet the needs and
  preferences of the selected target market
  segments as well as addressing the SWOT for your
  organization. While considering all the analysis
  results and marketing objectives presented
  before, think about how you can specifically
  enhance value for the customer through 4E aspects
  of your total offerings.

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4.3.2 4E offering strategies (continued)

• For 4E offering strategy in general, the guiding
  principle of THEME (Pine Gilmore, 1999) will be
  helpful
• Theme the experience Themeing an experience
  means creating an interesting storyline that
  helps the operator produce a unified set of
  design elements and messages through the 4Ps.
• Harmonize impressions with positive cues The
  customers experience must leave indelible
  impressions. Impressions are the take-aways of
  the experience.
• Eliminate negative cues Operators must eliminate
  anything that diminishes, contradicts, or
  distracts attention from the theme.

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4.3.2 4E offering strategies (continued)

• Mix in memorabilia The customer purchases
  memorabilia as tangible artifacts of experiences.
  You must develop and be able to sell memorabilia
  associated with the key experience you created.
• Engage the five senses The more effectively an
  experience engages all the senses, the more
  memorable it will be.

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4.3.2 4E offering strategies (continued)

• For 4E offering strategies, Assessment Tool I.6.1
  provides detailed observations of the current
  offerings by the firm. It can be used to identify
  if a theme is carried through and where negative
  cues may exist that need the operators
  attention. In addition, Assessment Tool I.6.1
  provides helpful examples of 4E offerings
  classified into 4Ps.

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4.3.3 Budget and resources

• To implement the proposed marketing actions
  before, the operator must develop a budget to be
  allocated. It is often difficult to come up with
  a precise budget amount, but good estimates are
  necessary.
• Develop and propose an estimated budget, with
  resources specified, for the 4E-added product
  improvement plan before
• The budget and resources should be as detailed
  and realistic as possible each budget item may
  need brief justification
• The budget must provide information on costs of
  materials at the unit level of materials planned
  for improvements
• Include the advertising budget in the final
  marketing budget.

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4.3.4 Marketing control plan

• A marketing control plan provides a roadmap for
  precisely implementing the proposed marketing
  actions and periodically checking the progress
  toward goal achievements. The operator must
  develop a master chart that shows detailed time
  plans for implementing the suggested actions from
  above. To be included in the chart are
• Each proposed marketing actions implementation
  (use colors for different major actions) see an
  illustrative example in Assessment Tool I.8.
• Time sequence and time frame of each action
  implementation
• Plans to check the progress and measure the major
  implementation outcomes

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4.3.5 Summary of Lesson 4

• This lesson provided business operators with a
  step-by-step framework for developing a marketing
  plan based on the core concepts of experience
  economy, i.e., 4Es. The framework was accompanied
  by a practical Assessment Tool to facilitate the
  actual process of preparing a marketing plan. The
  framework began with the mission of the business
  and proceeded with situation analyses in which
  operators were directed in how to analyze
  internal and external business environments as
  well as competition. The next step was to segment
  the market and position the business, followed by
  ways to establish market oriented marketing goals
  and objectives for the business. The framework
  then targeted an important section, named action
  plan, to guide business operators in developing
  effective product, pricing, and promotional
  strategies. The final section of the framework
  showed business owners how to develop marketing
  budgets and control plans. Business owners are
  not expected to have extensive marketing
  knowledge or skills to follow the lesson and
  apply it to their business.

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References

• Kotelnikov, V. (2005). Corporate vision, mission,
  goals, and strategies. Retrieved June 02, 2005
  from http//www.1000ventures.com/business_guide/cr
  osscuttings/vision_mission_strategy.html.
• Kotler, P., Bowen, J. T., Makens, J. (2003).
  Marketing for hospitality and tourism, 3rd ed.
  Prentice Hall Upper Saddle River, NJ.
• Morris, M. (1998). Entrepreneurial intensity
  Sustainable advantages for individuals and
  organizations. Westport, CT Quorum Books.
• Pine, B. J., Gilmore, J. (1999). The experience
  economy. Boston, MA Harvard Business Review
  Press.

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References (continued)

• Radke, J. M. (1998). How to write a mission
  statement. Retrieved June 01, 2005 from
  http//www.tgci.com/magazine/98fall/mission.asp.
• Schmitt. B. Simonson, A. (1997). Marketing
  aesthetics. New York Free Press.
• Images
• www.cafedonpablo.com/main_pages/wholesale.shtml
• http//www.innisbrook.com/store/images/wedding/398
  .jpg
• http//www.visitpa.com/visitpa/visitDetailPrintAd.
  pa?nameBeaverCountyRecreationandTourismDepar
  tment
• http//www.foodzcatering.com/gallery_pop_up/staff_
  turquoise.htm

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Assessment Tool I Marketing Plan Framework
48
This Assessment Tool contains real world
examples, guiding principles, practical
worksheets, and information that can help you
complete a 4E-based marketing plan for your
business. This Tool can serve as companion
activities for Lesson 4.
Click to download this assessment tool in MS
Word format.
49
Assessment Tool I.1 Executive summary

• This is a summary of the marketing plan, so it is
  usually prepared after the plan has been
  completed. It should summarize
• Situation analysis results
• Marketing goals and objectives
• Proposed marketing actions (strategies and
  tactics) to meet goals and objectives
• Proposed marketing budget and key resources that
  are necessary to implement the marketing actions
• Expected outcomes of the proposed marketing
  actions

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Assessment Tool I.2 Mission statement

• This statement summarizes the guiding principles
  for your business. Examples of mission statements
  are shown on the following slides with the type
  of information to be included. The three examples
  are presented in the way that you can see one
  from a well-established government organization
  and two from small businesses like yours. Try one
  on your own after examining the examples.

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Assessment Tool I.2 Mission statement (continued)

• Federal Food and Drug Administration
  (http//www.fda.gov/opacom/morechoices/mission.htm
  l)
• The FDA is responsible for protecting the
  public health by assuring the safety, efficacy,
  and security of human and veterinary drugs,
  biological products, medical devices, our
  nations food supply, cosmetics, and products
  that emit radiation. The FDA is also responsible
  for advancing the public health by helping to
  speed innovations that make medicines and foods
  more effective, safer, and more affordable and
  helping the public get the accurate,
  science-based information they need to use
  medicines and foods to improve their health.

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Assessment Tool I.2 Mission statement (continued)

• The View Restaurant at Indian Kettles
  (http//www.indian-kettles.com/lake_george_restau
  rant.html)
• Our mission is to provide only the freshest
  and finest foods possible at a reasonable price
  to our guests. In addition, we will provide the
  highest degree of service possible. We will treat
  each and every one of our guests like family
  visiting our home for a festive occasion. We will
  strive to keep all areas of our Lake George
  restaurant spotless. We will protect Lake George
  and our environment regardless of cost to
  ourselves. We realize that without our customers,
  our business would not exist and we welcome the
  opportunity to serve them.

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Assessment Tool I.2 Mission statement (continued)

• Beaver Lake Cottage (http//www.beaverlakecottages
  .com/missionstatement.htm)
• Our goal is to provide the ambiance and
  amenities for our guests to Relax, Reflect and
  Renew.
• Our primary measure of achievement shall be
  our Repeat and Referral business.
• We shall provide a work environment that will
  encourage our employees to make our goals
  possible.
• If we are ever in doubt about any personal or
  business decision, we shall ultimately rely on
  the Golden Rule as our Final Answer.

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Assessment Tool I.3 Situation analysis

• Situation analysis will help you understand the
  current and near-future business activities you
  and your competitors are using. By conducting
  this analysis you will understand how customers
  respond to your offerings and those of your
  competitors. The results of this analysis,
  therefore, provide a basis for your marketing
  strategy development later on.

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Assessment Tool I.3.1 Internal audit

• Provided next is a checklist that business owners
  can use when conducting an internal audit of
  their offerings. You can use this checklist as a
  guide and can modify it to suit the elements of
  your business.

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Assessment Tool I.3.1 Internal audit (continued)

• The internal audit allows you to systematically
  identify components of the 4Ps (Properties,
  Product Presentation, Promotional Application,
  and People) within your business that enhance
  experiential value for your customer. Sometimes
  you are too close to your business to accurately
  assess these experiential elements. Therefore, we
  encourage you to gather assessments from staff,
  customers, or vendors. The chart next lists many
  of the elements constituting the 4Ps of a
  business that can enhance customer experience.
  You can place the description of each element in
  the column under the appropriate 4Es.

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Assessment Tool I.3.1 Internal audit (continued)

• 4E Offerings
• Educational ExperienceIdentify components of the
  4Ps (referring to the leftmost column in the
  table next) that contribute to customers
  enhanced knowledge, skill, personal development.
• Esthetics Experience Identify components of the
  4Ps that contribute to a well-designed, unique
  physical setting in which a customer feels
  immersed.
• Escapist Experience Identify components of the
  4Ps that contribute to active participation in
  creating a sense of a different place or time for
  a getaway.
• Entertainment Experience Identify components of
  the 4Ps that contribute to engaging performances
  for the customer.

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Assessment Tool I. 3.1 Internal audit checklist
for 4E offerings
59
Assessment Tool I. 3.1 Internal audit checklist
for 4E offerings
60
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
61
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
62
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
63
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
64
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
65
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
66
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
67
Assessment Tool I.3.1 Internal audit checklist
for 4E offerings
68
Assessment Tool I.3.2 Market trend analysis

• To understand what is going on in the
  marketplace, you may want to analyze market
  trends as follows
• Customer trends identify key trends in customer
  preference for each of 4Es by asking questions
  such as
• What is the demographic of your customers (age,
  gender, income, occupation, etc)?
• Why would these customers be interested in
  some/all of the 4Es you offer?
• How often do customers buy from you?
• What is your customers willingness to pay for
  the 4Es you offer?

69
Assessment Tool I.3.2 Market trend analysis
(continued)

• Competitor trends try to understand what your
  competitors are offering
• Who are in a head-to-head competition with you?
• What is the focus of the competitions offerings?
• Where are they located?
• What are your competitors primary strengths, as
  compared to your business?
• What are your competitors doing in terms of
  offering the 4Es?
• Are there newly opened businesses that may
  directly compete with you in the future?

70
Assessment Tool I.3.2 Market trend analysis
(continued)

• Industry trends Be aware of how the industry
  you are in changes as a whole and think about how
  you can stay ahead of such changes. Ask, for
  example
• Which companies are the major players in the type
  of business you are in?
• What are the major changes in the way similar
  companies market their offerings?
• How widely are 4E offerings adopted in the
  industry you are in?
• In general, what do you foresee in terms of the
  ways you and your competitors do business in the
  near future?

71
Assessment Tool I.3.3 Market potential analysis

• Estimate the total demand for your offerings and
  estimate how demand can be increased by adding
  some selected 4E offerings. It is important not
  only to look at current demand for your
  offerings, but to realistically assess potential
  demand under the new 4E offerings added. (see
  Lesson 4.2.9. for example).

72
Assessment Tool I.3.4 Competitive analysis

• Conduct an internal audit of your key
  competitors. This requires determining how they
  actually conduct business activities and
  decisions, so your access to this information may
  be limited. It may be necessary to discuss with
  your staff their ideas regarding key competitive
  strengths and weaknesses of your competitors.
  Your suppliers or customers can often provide
  insights into what your competitors are doing if
  they are also familiar with your competitors.

73
Assessment Tool I.3.5 SWOT analysis

• A SWOT (strengths, weaknesses, opportunities, and
  threats) matrix can be constructed next to
  visually summarize key competitive elements for
  your business and your competitors with a focus
  on the 4Es.

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Assessment Tool I.3.5. SWOT analysis (continued)

• SWOT Matrix

Note You may want to add columns to include
additional competitors as necessary.
Strengths and weaknesses are based on the
internal audits of 4E offerings, while
opportunities and threats are based on analyses
of external factors such as market
trends and competitive trends.
75
Assessment Tool I.4 Position your business

• By now, you should have a good idea of what is
  your SWOT and need to think about how to address
  your SWOT at a reasonable cost. One good way to
  address them is to build a strong, unique
  business image or theme based on your strengths
  (S) and opportunities (O) and communicate it to
  your customers. You may actively deal with
  weaknesses (W) and threats (T) as well, but, by
  focusing on what you can do best, you still can
  differentiate your business from your
  competitors. Such a differentiation is a starting
  point for business success.

76
Assessment Tool I.4 Position your business
(continued)

• To effectively position your business in the
  minds of your customers, you need to develop a
  strong coherent theme for your business so that
  the customer can form a clear impression of your
  business image. The following example shows the
  position or theme statement of a restaurant.

77
Assessment Tool I.4 Position your business
(continued)

• Jungle Jims Restaurant Bar, for example, has a
  positioning theme as follows (http//www.jungle-ji
  ms.com/rest/page_2.html)
• Convenience
• Customers do not have to "dress up" to go out to
  dinner. These are informal restaurants designed
  to serve customers in relaxed, comfortable
  environment. However, they also work well for
  those who are "dressed up" because of their
  richly decorated, up-scale design.
• Family Oriented
• Perfect for all occasions, birthdays to proms,
  everyone has a reason to celebrate at casual
  theme restaurants. These restaurants accommodate
  children without Mom and Dad having to worry
  about appropriate restaurant behavior.

78
Assessment Tool I.4 Position your business
(continued)

• Entertainment Value Casual theme restaurants
  provide entertainment to their customers via
  design, decoration, music, food preparation and
  presentation employee outfits and an
  ever-present attitude of fun for all. Special
  holiday promotions contribute to the on-going
  excitement and entertainment. By giving children
  something to do with their energies, parents can
  also enjoy a comfortable, relaxed meal.

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Assessment Tool I.5 Marketing goals and objectives

• State your marketing objectives in realistic,
  clear, and measurable terms. Think about how you
  can relate the 4E offerings you have identified
  as realistic for your customers to the marketing
  objectives stated here. Examples are provided in
  Lesson 4.3.1.

80
Assessment Tool I.6 Marketing action plans

• Marketing actions are means of achieving your
  marketing goals stated above. These actions must
  be realistic and help you position your business
  as planned above, while addressing your SWOT and
  market and industry trends.

81
Assessment Tool I.6.1 4E offering strategies

• 4E offering strategies mainly concern enhancing
  your offerings overall. Use the results of the
  Internal Audit from previous slides to gather
  ideas for improving business offerings overall.
  Examples are shown in the chart next for a
  variety of rural small businesses.
• The 4Ps (Property, Product Presentation,
  Promotional Applications, and People) can
  contribute to enhancement of the 4Es. The
  following tables provide examples of how aspects
  of the 4Ps may contribute to business offerings
  from the 4Es in accommodation/BB, restaurant,
  retail, and rural tourism marketing.

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Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Educational
  experience

83
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Educational
  experience

84
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Esthetic
  experience

85
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Esthetic
  experience

86
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Entertainment
  experience

87
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Entertainment
  experience

88
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Escapist
  experience

89
Assessment Tool I.6.1 4E offering strategies
(continued)

• Examples of the 4Ps contributing to Escapist
  experience

90
Assessment Tool I.7 Budget and resources

• Developing a comprehensive marketing budget
  requires you to specify all resources needed to
  implement the proposed marketing actions earlier.
  Your budgeting may closely follow the cost items
  inherent in your marketing action plans before.
  First, specify all necessary cost elements or
  items and obtain a real estimate for each cost
  element. The cost elements can be systematically
  broken down as exemplified in the table below. In
  addition, all resources required to implement
  your marketing actions must be included in the
  budget.

91
Assessment Tool I.7.1 Sample cost table for
marketing actions
This dimension should include all cost elements
required for advertising and promotion plans
developed under the Marketing Action Plan section.
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Assessment Tool I.8 Marketing plan time table

• Marketing plans are easier to follow and
  implement when they are put in a comprehensive
  time table. The following is an example of part
  of a marketing plan time table the table can be
  expanded to include many more marketing action
  plans.

93
Assessment Tool I.8 Marketing plan time table
(continued)
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Assessment Tool I.8 Marketing plan time table
(continued)

• Once a marketing plan time table is completed,
  the business owner needs to determine how the
  outcomes of each action will be evaluated and
  when or how often they will be checked over the
  marketing plan period. Such a review and revised
  plan is important to prevent waste in marketing
  resources.