Harvard Case - Canadian Western Agribition: Beefing up the Growth Strategy
"Canadian Western Agribition: Beefing up the Growth Strategy" Harvard business case study is written by Tatiana Levit, Michael Taylor. It deals with the challenges in the field of Marketing. The case study is 20 page(s) long and it was first published on : Apr 2, 2015
At Fern Fort University, we recommend Canadian Western Agribition (CWA) adopt a multi-pronged growth strategy focused on enhancing its brand positioning, expanding its digital presence, and diversifying its offerings. This strategy aims to attract a wider audience, increase revenue, and solidify CWA's position as a leading agricultural event in North America.
2. Background
Canadian Western Agribition is a renowned agricultural event held annually in Saskatoon, Saskatchewan. It attracts over 100,000 attendees, showcasing livestock, agriculture technology, and industry expertise. However, CWA faces challenges in maintaining its relevance and attracting new audiences in a rapidly evolving agricultural landscape.
The key protagonists in this case study are:
- The CWA Board of Directors: Responsible for setting the strategic direction and ensuring the long-term sustainability of the organization.
- The CWA Management Team: Responsible for executing the strategic plan and managing the day-to-day operations of the event.
- The Stakeholders: Including exhibitors, attendees, sponsors, and the broader agricultural community.
3. Analysis of the Case Study
To analyze CWA's situation, we employ a combination of frameworks:
SWOT Analysis:
Strengths:
- Strong brand recognition and reputation within the agricultural community.
- Established network of exhibitors and attendees.
- Strong partnerships with government agencies and industry organizations.
- Large-scale event with significant economic impact on Saskatoon.
Weaknesses:
- Limited digital presence and engagement.
- Reliance on traditional marketing channels.
- Potential for declining attendance due to changing demographics and industry trends.
- Limited focus on attracting new audiences beyond the core agricultural sector.
Opportunities:
- Expanding digital marketing efforts to reach a wider audience.
- Diversifying event offerings to appeal to new demographics and interests.
- Developing partnerships with international agricultural organizations.
- Leveraging emerging technologies to enhance the attendee experience.
Threats:
- Competition from other agricultural events.
- Economic downturn affecting agricultural spending.
- Changing consumer preferences and demand for agricultural products.
- Climate change and its impact on agriculture.
PESTEL Analysis:
- Political: Government policies and regulations impacting agriculture.
- Economic: Global economic conditions and agricultural commodity prices.
- Social: Changing consumer preferences and demographics.
- Technological: Advancements in agricultural technology and digital marketing.
- Environmental: Climate change and its impact on agricultural production.
- Legal: Regulations governing food safety, animal welfare, and environmental protection.
Market Segmentation:
CWA can segment its target market based on:
- Demographics: Age, gender, location, income level.
- Psychographics: Interests, values, lifestyle.
- Behavioral: Purchase behavior, brand loyalty, media consumption.
Brand Positioning:
CWA needs to clearly define its brand positioning to differentiate itself from competitors. This involves:
- Value Proposition: What makes CWA unique and valuable to attendees and exhibitors'
- Target Audience: Who is CWA trying to reach'
- Competitive Advantage: What sets CWA apart from other agricultural events'
4. Recommendations
To achieve sustainable growth, CWA should implement the following recommendations:
1. Enhance Brand Positioning and Marketing Strategy:
- Redefine Brand Positioning: Position CWA as a dynamic and innovative platform for the future of agriculture, attracting a wider range of stakeholders, including young professionals, technology enthusiasts, and consumers interested in sustainable agriculture.
- Develop a Comprehensive Marketing Plan: Utilize a mix of traditional and digital marketing channels, including social media, content marketing, email marketing, and influencer marketing.
- Target New Audiences: Develop targeted campaigns to attract new demographics, such as young farmers, urban consumers, and international visitors.
- Strengthen Brand Equity: Invest in brand building activities, such as public relations, sponsorships, and community outreach programs.
2. Expand Digital Presence and Engagement:
- Develop a Robust Website and Mobile App: Provide user-friendly platforms with event information, exhibitor listings, interactive maps, and online ticketing.
- Utilize Social Media Platforms: Engage with audiences on platforms like Facebook, Twitter, Instagram, and LinkedIn, sharing event updates, industry insights, and behind-the-scenes content.
- Implement Digital Marketing Strategies: Utilize search engine optimization (SEO), search engine marketing (SEM), and targeted advertising to reach potential attendees.
- Leverage Data Analytics: Track website traffic, social media engagement, and marketing campaign performance to optimize digital marketing efforts.
3. Diversify Event Offerings and Partnerships:
- Expand Beyond Livestock: Introduce new exhibits and activities focused on emerging technologies, sustainable agriculture, food security, and consumer education.
- Develop Partnerships: Collaborate with universities, research institutions, and industry leaders to showcase cutting-edge innovations and foster knowledge sharing.
- Host Educational Workshops and Conferences: Offer specialized programs on topics of interest to specific target audiences, such as agtech, precision agriculture, and organic farming.
- Create Interactive Experiences: Enhance the attendee experience with virtual reality (VR) tours, interactive displays, and hands-on demonstrations.
4. Embrace Technology and Analytics:
- Implement CRM Systems: Utilize customer relationship management (CRM) tools to manage attendee and exhibitor data, personalize communications, and track engagement.
- Leverage AI and Machine Learning: Utilize AI-powered tools for data analysis, predictive modeling, and personalized recommendations.
- Explore Blockchain Technology: Investigate the potential of blockchain for supply chain transparency, traceability, and secure data management.
- Develop a Data-Driven Approach: Utilize data analytics to understand audience preferences, optimize event logistics, and measure the impact of marketing campaigns.
5. Basis of Recommendations
These recommendations align with CWA's core competencies and mission to promote the agricultural industry. They consider the needs of both external customers (attendees and exhibitors) and internal clients (CWA staff and stakeholders). The recommendations are also aligned with the evolving needs of the agricultural sector and the broader consumer market.
The basis for these recommendations is further supported by:
- Quantitative Measures: The proposed digital marketing strategies and event diversification initiatives are expected to generate increased revenue and attendance.
- Assumptions: The recommendations assume that CWA will invest in the necessary resources, including technology, staffing, and marketing budgets, to implement these initiatives effectively.
6. Conclusion
By embracing a strategic approach that combines brand enhancement, digital expansion, and diversification, CWA can solidify its position as a leading agricultural event in North America. This strategy will attract a wider audience, increase revenue, and ensure the long-term sustainability of the organization.
7. Discussion
Other alternatives not selected include:
- Maintaining the status quo: This option would likely lead to declining attendance and revenue as CWA struggles to keep pace with changing industry trends.
- Focusing solely on digital marketing: This option would neglect the importance of traditional marketing channels and the value of in-person networking opportunities.
Risks and Key Assumptions:
- Financial resources: Implementing these recommendations requires significant financial investment.
- Technological expertise: CWA will need to acquire the necessary technical skills and resources to effectively leverage digital technologies.
- Market acceptance: The success of these recommendations depends on the willingness of attendees and exhibitors to embrace new technologies and event offerings.
8. Next Steps
To implement these recommendations, CWA should:
- Develop a detailed implementation plan: Outline specific actions, timelines, and resource requirements.
- Secure necessary funding: Allocate budget for technology upgrades, marketing campaigns, and staff training.
- Form a dedicated team: Assemble a team of experts in digital marketing, event management, and agricultural technology.
- Monitor progress and make adjustments: Regularly track key performance indicators (KPIs) and make necessary adjustments to the strategy based on data insights.
By taking these steps, CWA can position itself for continued growth and success in the evolving agricultural landscape.
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Case Description
In early June 2014, the chief executive officer of Canadian Western Agribition, a not-for-profit organization, is reviewing the results of its 2013 agricultural show, a fair that takes place every November in Regina, Saskatchewan. The week-long event includes the largest livestock show in Canada, an extensive agribusiness tradeshow, a large marketplace of home products, a rodeo competition, and entertainment and educational programs that have a focus on First Nations. After bouncing back from major financial problems three years earlier, Agribition had generated almost $4 million in 2013. How can management ensure that it will continue to grow as a world-class event? Which customer segment - rural, urban or international - should be targeted? How can more visitors, ranchers and breeders be attracted to pay the admission, entry and commission fees that account for 90 per cent of the organization's budget? How can corporate sponsorship and government grants be increased? To maintain its status as one of the best beef shows on the continent, management must implement a marketing and operations strategy that will meet the needs and interests of many groups, a key element for growth and profitability.
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