Harvard Case - Festival by the Sea
"Festival by the Sea" Harvard business case study is written by Tim Agarwala, Cathie M. Hurley, Paula A. Levesque, Siddharth Sathe, Eduardo Vargas, Zaur Khoutyz. It deals with the challenges in the field of General Management. The case study is 18 page(s) long and it was first published on : Jul 27, 2006
At Fern Fort University, we recommend a strategic transformation for Festival by the Sea, focusing on digital transformation, sustainable practices, and community engagement to ensure long-term growth and success. This approach will involve a multi-pronged strategy that leverages technology, fosters community partnerships, and prioritizes environmental responsibility.
2. Background
Festival by the Sea is a popular annual music festival held in a coastal town in New Zealand. The festival has experienced significant growth over the years, attracting a large audience and generating significant revenue. However, the festival faces challenges related to increasing competition, environmental concerns, and the need to enhance its digital presence. The case study focuses on the festival's founder, Sarah, who is considering various options to address these challenges and ensure the festival's future success.
The main protagonists of the case study are Sarah, the festival founder, and the festival's board of directors. Sarah is a passionate and visionary leader, but she is also facing pressure from the board to ensure the festival's financial sustainability and address growing concerns about its environmental impact.
3. Analysis of the Case Study
SWOT Analysis:
Strengths:
- Strong brand recognition and loyal fanbase
- Unique location and atmosphere
- Strong community support
- Experienced team with a proven track record
Weaknesses:
- Limited digital presence and marketing efforts
- Lack of data-driven decision making
- Environmental concerns and limited sustainability initiatives
- Dependence on a single event for revenue generation
Opportunities:
- Expanding digital marketing and online ticketing
- Diversifying revenue streams through merchandise and sponsorship
- Implementing sustainable practices and promoting environmental awareness
- Building stronger relationships with local businesses and communities
Threats:
- Increasing competition from other music festivals
- Economic downturn impacting ticket sales
- Negative press regarding environmental impact
- Changing consumer preferences and trends
Porter's Five Forces:
- Threat of new entrants: High, as the music festival industry is relatively easy to enter.
- Bargaining power of buyers: Moderate, as consumers have a wide range of choices.
- Bargaining power of suppliers: Low, as there are many potential suppliers for festival services.
- Threat of substitute products: High, as consumers can choose other forms of entertainment.
- Competitive rivalry: High, as there are many competing music festivals.
Key Performance Indicators (KPIs):
- Ticket sales and revenue
- Online engagement and website traffic
- Social media reach and engagement
- Environmental impact and sustainability metrics
- Customer satisfaction and brand loyalty
4. Recommendations
1. Digital Transformation:
- Enhance online presence: Develop a user-friendly website with online ticketing, event information, and social media integration.
- Leverage data analytics: Implement a data analytics platform to track website traffic, ticket sales, and customer preferences, enabling data-driven decision making.
- Expand digital marketing: Utilize targeted online advertising, social media marketing, and influencer partnerships to reach a wider audience.
- Develop a mobile app: Offer a mobile app with features like event schedules, maps, and real-time updates to enhance the festival experience.
2. Sustainable Practices:
- Reduce waste: Implement a comprehensive waste management plan with recycling and composting initiatives.
- Promote sustainable transportation: Encourage attendees to utilize public transportation, bike paths, and carpooling.
- Utilize renewable energy: Explore options for solar panels and other renewable energy sources to power the festival.
- Partner with environmental organizations: Collaborate with local environmental groups to promote sustainability and raise awareness.
3. Community Engagement:
- Local partnerships: Partner with local businesses, community organizations, and artists to create a more inclusive and engaging festival experience.
- Volunteer program: Develop a robust volunteer program to involve the community in the festival's operations.
- Community outreach: Organize pre-festival events and workshops to connect with the local community.
- Support local artists: Feature local musicians and artists at the festival to showcase local talent and foster community pride.
4. Financial Sustainability:
- Diversify revenue streams: Explore new revenue sources beyond ticket sales, such as merchandise, sponsorships, and licensing opportunities.
- Optimize pricing: Analyze ticket pricing strategies to maximize revenue while remaining competitive.
- Cost control: Implement cost-saving measures through efficient operations and resource allocation.
- Financial planning: Develop a long-term financial plan to ensure the festival's sustainability.
5. Basis of Recommendations
These recommendations are based on a comprehensive analysis of Festival by the Sea's current situation, its strengths and weaknesses, and the opportunities and threats it faces. They align with the festival's core competencies of providing a unique and memorable experience, while also addressing the need for growth, sustainability, and community engagement.
External Customers and Internal Clients:
The recommendations consider the needs and expectations of both external customers (festival attendees) and internal clients (festival staff, volunteers, and partners). The focus on digital transformation, sustainability, and community engagement aims to enhance the festival experience for all stakeholders.
Competitors:
The recommendations address the competitive landscape by focusing on differentiation through sustainability, community engagement, and a strong digital presence.
Attractiveness:
The recommendations are expected to enhance the festival's attractiveness to both attendees and sponsors, leading to increased ticket sales, sponsorship revenue, and brand value.
Assumptions:
The recommendations assume that the festival's core values and brand identity will remain consistent, and that the local community will continue to support the festival.
6. Conclusion
Festival by the Sea has the potential to become a leading sustainable music festival in New Zealand. By embracing digital transformation, prioritizing environmental responsibility, and fostering strong community partnerships, the festival can achieve long-term growth and success while remaining true to its core values.
7. Discussion
Alternatives:
- Maintain the status quo: This option would involve continuing with the current approach, which carries the risk of falling behind competitors and failing to address growing concerns about sustainability.
- Focus solely on digital transformation: This option would prioritize digital marketing and online engagement, but could neglect the importance of sustainability and community engagement.
- Focus solely on sustainability: This option would prioritize environmental initiatives, but could lead to a decrease in revenue and a less appealing festival experience.
Risks:
- Implementation challenges: Successfully implementing the recommended changes requires effective project management, resource allocation, and communication.
- Resistance to change: Some stakeholders may resist the proposed changes, requiring effective change management strategies.
- Financial risk: The proposed investments in digital infrastructure and sustainability initiatives may require significant financial resources.
Key Assumptions:
- The festival's brand identity and core values will remain consistent.
- The local community will continue to support the festival.
- The proposed changes will be implemented effectively.
8. Next Steps
Timeline:
- Year 1: Implement digital transformation initiatives, including website redesign, data analytics platform, and mobile app development.
- Year 2: Focus on sustainability initiatives, including waste management plan, renewable energy sources, and partnerships with environmental organizations.
- Year 3: Enhance community engagement through partnerships, volunteer programs, and local artist showcases.
Key Milestones:
- Develop a comprehensive strategic plan with clear objectives and timelines.
- Secure funding for digital transformation and sustainability initiatives.
- Build a strong team with expertise in digital marketing, sustainability, and community engagement.
- Communicate the proposed changes effectively to all stakeholders.
- Monitor progress and adjust strategies as needed.
By taking these steps, Festival by the Sea can position itself for continued growth and success while making a positive impact on the environment and the community.
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Case Description
The Festival by the Sea (FBTS) has been successful by all accounts except financially. As the General Manager reviews the recent performance of the festival, she also noted several challenges lied ahead. The events industry needs better educated professionals, ethical issues need to be addressed, temporary employees and volunteers need to be successfully hired and retained, and sponsors need to be attracted in order to cover the costs of the New Brunswick festival. The General Manager must determine how to ensure the viability of the FBTS.
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