The London Palladium - Marketing Analysis

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The London Palladium - Marketing Analysis

The London Palladium boasts of a wealth of historical heritage, having commenced its
operations on the 26th of December 1910. Since its inception, it has witnessed performances
from stars, hosted various acts, musicals, pantomimes, and royal performances (Bricault, 2016).
The theatre has a capacity of 2,286 seats and is situated on Argyll Street, London. The theatre
was listed Grade II in September of 1960 and has retained most of its original attributes since
Walter Gibbons first built it. The venue has cemented the public's affection by hosting one of
the most famous shows, acts, musical productions, and Pantomimes. Marketing analysis is
necessary for understanding how the London Palladium has tried to become relevant in a highly
dynamic theatre industry. Marketing analysis articulates the dynamism of a given market and
suffices factors, which affect a specific sector (Harzig, 2020). Marketing analysis suffices
information, which helps formulate a marketing strategy for a company like the London
Palladium. Concisely, the following factors will be discussed in the following explanation of
market analysis of the London Palladium: Goal performance, customer insight, brand
perception, internal capabilities, and resources.
Goal Performance

Marketing goals are performance-based benchmarks that are crucial in measuring the
company's success from a marketing and overall business success. The marketing goals include
creating brand awareness, augmenting customer value, generating high-quality leads, and
thought-leadership (Raukomaa, 2019). Analyzing the London Palladium along the achievement
of marketing goals brings us to the goal performance assessment. The results of this
assessment are necessary for identifying areas of weakness and strengths when it comes to the
performance and achievement success and performance of marketing goals tied to the London
Palladium company.

A review of the marketing goals of the London Palladium reveals success in some aspects and a
gap in some of the marketing goals components. For instance, over the years, the company has
created brand awareness through events, shows, and musical productions. The robust historical
heritage and the positive goodwill have generated high-quality leads and augmented customer
value through improved service delivery over time. The theatre company has stood the test of
time by withstanding the adversities of the First World War, the George Black era, the Second
World War, the Parnell era, and the 21st century. However, albeit the massive achievements in
augmenting brand awareness, customer value, and generation of high-quality leads, a gap
exists in thought-leadership. The lackluster though-leadership stems from the fact that the
company has retained most of its 20th-century features, making it outpaced in the eyes of the
21st-century generation.

Customer Insight

Customer insight in marketing analysis refers to a company's understanding of customers'

needs and addressing the needs in line with their preferences. Companies understand
customers' needs and preferences by analyzing data about customers, including purchase
patterns, demographics, and campaign response patterns (Said et al., 2015). The premise of
customer insight is to establish customer-centric services based on needs and preferences,
which drives sales through robust customer loyalty. London Palladium Company has leveraged
customers' needs and preferences to meet customer needs. However, this feature has not been
fully utilized to its full potential because the company is still adapting to the needs of the 21st
generation, who are technology savvy and averse to old models of theatres.

Brand Perception

The London Palladium has a robust historical heritage from its inception in 1910 through the
First World War, Second World War, the George Black era, the Parnell era, and the new 21st
century. The theatre company has built a strong brand perception among customers over time.
It hosts one of the most famous shows, acts, musical productions, and Pantomimes. Concisely,
the theatre has a strong brand perception among customers who are avid lovers of the
historical heritage associated with the London Palladium (Bignell, 2005). However, there is ab
group of customers, the generation Y, and Z with low brand perception to the old modeled
theatre as new theatres with modern designs emerge. This is because the theatre has retained
the majority of its original features right from its inception, albeit ownership changing hands
severally. Consequently, the theatre needs to modernize most of its parts to win the perception
of the current generation.

Internal Capabilities and Strengths

The theatre has a strong historical heritage with a positive impact on the company's brand. The
venue has cemented the public's affection by hosting one of the most famous shows, acts,
musical productions, and Pantomimes. It also boasts a robust architecture with a capacity of
2,286 seats (Bricault, 2016). The theatre company has stood the test of time by withstanding
the adversities of the First World War, the George Black era, the Second World War, the Parnell
era, and the 21st century.

References

Bignell, J., 2005. And the rest is history: Lew Grade, creation narratives, and television
historiography. ITV Cultures. Independent Television Over Fifty Years (Maidenhead: Open UP,
2005), 57Á70.

Bricault, L., 2016. Live at the Palladium. Pallas. Revue d'études antiques, (100), pp.275-281.

Harzig, P., Brehm, S., Lienhart, R., Kaiser, C. and Schallner, R., 2020, April. Multimodal image
captioning for marketing analysis. In 2018 IEEE Conference on Multimedia Information
Processing and Retrieval (MIPR) (pp. 158-161). IEEE.

Raukomaa, J., 2019. Thought leadership and social selling as B2B sales drivers–Case Hopkins Oy.

Said, E., Macdonald, E.K., Wilson, H.N. and Marcos, J., 2015. How organizations generate and
use customer insight. Journal of Marketing Management, 31(9-10), pp.1158-1179.