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Marketing Plan for Monster Truck Show

Buy custom Marketing Plan for Monster Truck Show essay

Buy custom Marketing Plan for Monster Truck Show essay

Executive Summary

a)      Company Brand (name, logo, and slogan)

Feld Entertainment Inc is a live show production company founded by the Irvin Feld in 2012. It specializes in the production and management of live shows. Its main areas are sports events with a focus on a monthly racing and freestyle competition with the monster trucks: the Monster Truck Show.

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b)      Objectives

The major objectives include increasing awareness, image enhancement, building the goodwill and improving the company’s profitability by reaching the otherwise unreachable customers.  The company also seeks to promote their products through the readily available media coverage in the events it organizes.  Without a doubt, leisure activities attract immense media coverage. In a response to the rising cost of media advertising, sponsorship is currently the cheapest and fastest means to promote a product.  This is because the consumer awareness and the sponsorship status are solely measured by the consumers’ ability to recognize and recall the sponsors of an event. With that in mind, it is necessary to construct a state-of-the-art facility to accommodate all events.

c)      Events to be held atthe venue

The motor racing events include monster truck racing and freestyle competition between monster trucks. Other smaller shows such as the wheelie competitions, go-Karting, motorcycle stunts, and the donut contest will be held at this event.

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d)     Market

The Monster Truck Shows are held every month, with more of the shows being held in winter than summers. With the expansion of the international tours, more new fans in Europe, South America and Canada are likely to enjoy the shows. All fans attending the Monster Truck Shows have the chance to interact with the stars of the show during the pit parties and autograph signing sessions. The monster truck drivers will remain at the pit parties until the last autograph is signed. In addition, the leisure activities are likely to attract greater media coverage. The coverage is likely to come free of charge; this enables the company to advertise and increase its market share thanks to public indifference to the conventional forms of communication. The Monster Truck Shows and events air on some television stations after the events are over and during the live shows of the Monster Jam World Finals held in the late winter each year, which culminate in Las Vegas in March every year. The company will also attract the attention of other sponsoring companies. Multiple sponsorships imply that the company is guaranteed of organizing futuree events. Furthermore, four officially licensed Monster Truck Show video games have been produced. The first two video games produced include the maximum destruction vehicle combat game and the arcade racing game.

e)      Management team members

The management team members in the event include representatives of Feld Motor Sports (monster Jam), Family events, Outlaw Monster Truck Tours, the Monster Trucks XL tours, Mega Monster Truck Nationals, Monster Truck Challenge, Vaters Monster Motorsports and the Monster Nations Promotion.

f)       The return investors should expect

The investors of the shows will benefit from the sponsorship contracts that will involve the commercial transaction to transfer of defined rights. As investors, the Truck owners and manufacturing companies will benefit from the purchase of rights including the shows’ titles and rights to specific emblems and logos in exchange for rights to the shows’ advertising, promotion, and inclusion of their trucks and other products.  However, the specific rights will vary according to the size and the nature of each event. The investors sponsor their own drivers but will benefit from the tremendous publicity generated by the event and, subsequently, the increased number of the consumer audience generated by the sporting event.

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