Promotion Strategy Development: Case of the Virtual Reality Quest Room of the Company «Lovushka»

Product and service promotion is one of the key stages in marketing strategy implementation, since it directly affects the brand recognition and stimulates the clients to use the services / products of the company. Promotion is considered as a set of activities carried out by the company through communication with potential buyers. Since promotion plays an crucial role in the company's activities, affecting the profitability indicators, it is necessary to tackle the issue of creating a strategy systematically, exploring both external and internal environment of the company, highlighting competitive advantages and exploring key characteristics of the target audience. The goal of this paper is to investigate the market and the target audience of the virtual quest and to develop a promotion strategy for the virtual reality quest. This study has been conducted for the company that offers the service of playing a virtual quest. The managerial problem of the organization is that from the very beginning of the quest operation there was a problem of low attendance, caused primarily by the lack of a developed promotion strategy and lack of knowledge about the target audience, therefore the main tasks are the measurement of the market, the assessment of the competition level, the study of the virtual quest service itself and the allocation of competitive advantages, as well as a study to determine the target audience of the quest. The study revealed the main interests of the target audience, determined the decision-making factors and formulated the most important characteristics that influence clients’ satisfaction with the service. The derived data helped to get a holistic view of the target audience and its needs, which can be used not only in the formation of the positioning strategy and the promotion program, but also in building business processes as well as improving a loyalty program and developing the product line.