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| Source: entertainment.designer.com |
It is no doubt that the MBS is the biggest hotel in town.
Apart from lodging facilities that the hotel provides, MBS is also a typical and well-known event venue that holds a plethora of events such as international events like World Cities Summit and local events such as Star Awards.
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| Source: Spopdaily.com |
It also holds renowned musical like Wicked and The Lion King. From non-business perspective, these also include events for pleasure such as the Titanic and Harry Potter Exhibition.
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| Source: Motherinc.org |
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| Source: Lime-sorbet.blogspot.sg |
The popularity of these events can be analysed from an events marketing strategy viewpoint.
The marketing strategy that MBS uses for its events would be the Marketing Concept. Marketing Concept holds that realizing organizational goals depends on establishing the needs and wants, and bringing in preferred satisfaction for their target markets better than their competitors.
As quoted from MBS's website, their organisational goal is to "achieve the country's economic and tourism goals as Asia's leading destination for business, leisure and entertainment".
As part of their marketing strategy, MBS usually collaborates with well-known event organisers like World Cities Summit to strengthen their business competencies by merging their valuable resources such as the branding and publicity that they already have together, so that they can meet the needs and wants of their target market in cost-efficient manner.
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| Source: Sisv.org.sg/wcs |
Thus, with such combined forces, this will help MBS to better propel into hitting its organizational goals, to be the event organizer of choice and the leading hospitality hub of Singapore.
Also, with the expertise of these two organizations, the event can then be priced at a premium for the customers to match the establised branding that these two companies already have. In this manner, they can also increase their profitablity through this pricing approach.
