Stage 1: Initial Brief
The word “KTV” stands for Karaoke Television. It is a form of interactive entertainment where amateurs sing along recorded music using a microphone and public address system with a screen of displayed lyrics. There are over 100 KTV establishments in Singapore. Party World KTV is an established karaoke entertainment in Singapore, boasting 12 outlets throughout the island. Equipped with the latest in entertainment technology, user-friendly systems and comfortable spacious rooms, patrons are ensured utmost pleasure and comfort. Party World KTV strives to enrich patron’s experience in singing quality and ‘beyond singing’ experience.
Various segments have been identified as possible segments that Party World KTV could target and choose to focus on. Possible segments include but are not limited to: students, corporate, families and senior citizens. The possible segments allows Party World to be an all-rounder KTV entertainment provider, providing from young to old, private to corporate.
However, instead of competing in a mass market with broad segments, in adopting a narrower focus, the company ideally focuses on their specialized needs, thus better tailoring the marketing mix accordingly. The chosen segments to focus are students and corporate. Students and corporate segments are important source of customer base. Corporate functions are on regular basis where organizers are willing to spend generously. Students, on the other hand are cost conscious.
Singapore’s KTV entertainment industry has grown rapidly over the years. Party World KTV has significance market shares in the industry, nevertheless, not without strong competitors like K Box, Good Luck KTV and Top One KTV.
The targeted markets consist of working class (corporate) and non-working class (students). There are huge pools of customers readily available in these two segments. Offering specialize services aimed at corporate functions could set Part...