If I were to do this again I would have used the Internet more and also, I would have focused more on the text books, but I believe I have used every source possible. Local Competition In my personal local environment there is a large gap in the market for performing arts as there are no cinemas or theatres in the Leyton area, the market trader on the other hand will have a lot more competition as there are stores in Leyton which do sell the same goods as the market trader. I think that my research is of quite a high standard as it is varied, meaningful and contains facts which I can use. I have also carried out BOTH desk and field research to give me a two sided view.
Yes, the businesses can survive in spite of competition as both companies are greatly valued by both their customers and workers, and therefore both businesses have support from the most important people, their customers. I have gathered the social economical groups and Waltham forest population in broad age groups to find out the ages of both males and females living in the Waltham forest area (refer to reference 1). From my research I have found that the target age group for the “Kenneth Moore Theatre” which is between thirty and fifty-nine, is highly populated in the Walthamstow area which would guarantee good business for the theatre in my local area
An interview with Vivian Ellacot from “Kenneth Moore” 1. How do you measure success in your company? There are two ways to measure success in a theatre, one is in artistic achievement from a subjective judgment and act can be great personal acheivemt but might not be liked by the public, but success can also be measured financially where the more tickets sold will give a success. 2. What is the type of business ownership and how was the business set up? The theatre is a charitable company, which is limited by guarantee and controlled by a board of trustees who cannot be paid.
3. How do you motivate staff? In this line of work the staff are motivated by their personal love for the theatre and by the example of the artistic director. 4. How have you created your image? This theatres image has grown over the past thirty years where they have become an important part of the community in olved. 5. How much money do you spend on advertising? In a normal “West End” theatre they would spend up to 10% of their intake on advertising but in this case our theatre supporters club who bye around 70% of the tickets sold funds us. The money given from the supporters is for the program of on -coming shows and the stamp, the supporters are put on a mailing list and the program is sent to them. In total we spend only 2.5% of our intake on advertising.
6. How do you promote and advertise your business? The first way in which we promote and advertise is by sending out our leaflets to all of the addresses on our mailing list of supporters and the other is by word of mouth which is when people come and see the show and tell their friends and family. 7. What is your age group? In the theatre there is no age group, it changes according to the show and some shows appeal to everyone no matter their age.
8. How do you deal with competition? The only competition against the theatre is the cinema and TV and the Internet because the theatre is a charity they co-operate with each other by lending props etc. to other theatres. 9. Do you have a business plan and how do you arrive at your targets? The business plan is to maintain ticket sales and improve artistic standards also quality improves of costumes and props. Another target is to help build experience for staff example technicians. Interview with a Market Trader 1. How do you measure success in your company? Overall profit produced/amount of products sold. 2. What is the type of business ownership and how was the business set up?