Karaoke Television

The word â€Å"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 World’s positioning at a higher level. Students, on the other hand are customers who enjoy KTV entertainment due to many reasons such as, fans who imitate idols, singing as hobby and friends hangout. In targeting these segments, Party World KTV sets its positioning in customer’s mind uniquely different from other common KTVs. Setting a prestige standard for official functions while not neglecting the needs of the young and non-working customers. An overview of the marketing mix, place, price, products (service) and promotion are as followed. * Place – Exclusive, multiple locations strategically located (12 branches). Rooms are comfortable and spacious. VIPs room exclusively only available in 5 branches with prior bookings needed. All branches are located island wide, convenient for all. * Price – Different pricing strategy. Higher prices targeted to high end customers (corporate functions). Affordable prices for middle income or non-working customers (students). With 2 major segments targeted, pricing have to be set accordingly, suiting customer’s need. Moreover, customers are charges at per room (not per pax), this allows customers to bring more friends. * Products and/or (Services) – High-end service, well-trained staffs and well equip facilities (includes internet, pool table, board games, DVD player and Playstation 3. Exclusive service provided for corporate / private functions. Staffs are well-trained and experience in KTV related services. Party World KTV goes the extra mile to make customers feel more relax with available gaming electronics and free snacks and drinks (for members only). * Promotions – Wide variety of promotions for the targeted segments. Promotional tools currently used by Party World to attract and retain customers are as followed. Before any promotional steps are taken, there must first be a retention strategy to retain current customers before attracting new potential customers. Membership is one way of retaining and attracting customers. Members enjoy lifetime member privileges, moreover, given a birthday voucher on the birthday month. Points redemption / accumulation entitles members to be rewarded for every dollar they spent. Points are redeemable for food and beverages, longer usage of facilities and special gifts. With points redemption, customers are more enticed to spend more and remain loyal to Party World KTV than switching to others. (Spend in Party World and get rewarded!) A singing contest is held monthly to promote singing. It is considered as a friendly and leisure contest to promote singing. Most of the participants are students eagerly waiting for their chance to sing on stage. Thus, this promotional tool is appropriate in attracting the student amateur singers. â€Å"Happy Hour Promotion† applicable from Mondays to Fridays (2pm – 7pm), customers are given a special rate which includes free snacks and non-alcohol drinks. Members are able to enjoy an additional 10% discount. â€Å"3 bottles package† Customers are able to choose any 3 bottles of alcohol with free 6 bottles of mixers at only $598. Nevertheless, the promotions are insufficient to attract customers. We recommend for an â€Å"Epic Theme Nights† which covers from Monday to Thursdays and Sunday where Party World KTV has least customers. Selling points: Now you can even produce and design your own MTV album (with your own vocals and video) with Party World KTV's professional studio and recording system! find their favorite croons and save favorite songs in a playlist for easy retrieval on the next visit. All you have to do is to register through the KTV system using your mobile number as login ID and start saving your favorite KTV songs in your playlist! Your comfort and pleasure is met with our spacious rooms which are lined with comfortable leather seats and massage chairs and in-room foot massage machines. Message: For wannabe Singapore Idols, Party World is the obvious place to hone your singing skills. Affordable room rentals and a hefty bilingual song catalogue should ensure hours of crooning entertainment, not to mention various discounts available to NTUC cardholders. With 11 branches spread across the island, Party World has become quite a karaoke institution.