History of Royal Weddings in UK and an overview of the wedding of Prince Harry and Meghan Markle
United Kingdom and royal weddings with all their glitz and glamour have been one of the iconic events that has taken place since eternity of British rule. The royal weddings have always been an event that is to look for both the sense of fashion and guest list that includes the best of the people from all over the world (Balmer 2017). The history of royal wedding has always been in the limelight for the grandeur that it possesses since the last 150 years at Windsor Castle. The weddings, right from Prince of Wales to the Princess Alexandra of Denmark to the present wedding of Prince Harry to Meghan Markle have always been in the talk of the world for the various kind of unique features that the weddings had (Otnes and Maclaran 2015).
The wedding of Prince Harry and Meghan Markle took place on 19th May, 2018 (Saturday) with a lot of grandeur but had certain uniqueness that distinguished it from the other conventional royal weddings till date. The guest list of 2640 people consisted of not only the richest sections of the society but also the charities and organizations and even subjects who had no place in the previous wedding functions. The uniqueness of the wedding certainly attracted the minds of the masses and also made the wedding one of the best and unconventional wedding ceremonies in the times (Grech 2015). Right from the fact that the bride of the wedding was not from the royal family, divorced and not from the fair complexion group to the strong relationship management that has been conducted, the wedding surely will be one of the most unconventional wedding that has been attended in the history of British Royalty.
1. Part A: Stakeholder Analysis
1.1 Stakeholder Theory
Stakeholders are defined as the individual party that have a concern or interest in the workings and dealings of the business of an organization. The stakeholder theory states that in order to be a sustainable business house having a good business opportunity, the company or the business must address the interest of the stakeholders as much as possible. The main motive of the business is to create maximum value and returns for the stakeholders and to give them maximum profit at the end of the assessment year (Jones, Wicks and Freeman 2017). The aim of the managers should be to make the profit margin of the stakeholders at the best and also to make sure that the interest of the customers and other occupational agents are considered and evaluated in the process. The concept was introduced by Edward Freeman in 1988 and it applies to the royal wedding of Prince Harry and Meghan Markle in a huge way. Being from the royal background with a number of subjects and stakeholders in their business and relationship, it is their duty to maximise their profit margin and also to make sure that they are getting their dues in the process (Andriof et al. 2017).
1.2 Ten key stakeholders of the Royal wedding and describe each stakeholders needs/interest
The ten major stakeholders of the royal wedding of Prince Harry and Meghan Markle are as follows with their interest in the same –
1.3 Power/Interest matrix
Power Interest Matrix is a software tool that helps you to analyse the level or the power and interest of stakeholders in the increasing order to make out the people of the stakeholder community who have the right to make or devastate the project (Yang 2014). The matrix is a part of the Project Communication management and helps to scrutinize the priority of the stakeholders carefully without having the stakeholders to put much effort. When the power interest matrix is put into use, both the time and energy of the project holders are saved and the matrix determines the level of determination.
1.4 Stakeholder analysis using the Power/Interest matrix and comment on each stakeholder’s type of influence on the Royal wedding
There are two types of stakeholders, primary and secondary, that were present in the Royal wedding which are as follows (Reference Appendix 1) –
2. Part B: Relationship Marketing
2.1 Importance of relationship marketing
The importance of relationship marketing lies in the fact that with effective relationship management, the customer relationship status remains strong. The needs and demands of the customers are fulfilled to the fullest and made sure that the bond made between the customers and the organizations or people are strong enough to make it better (Halinen 2012). The aim of relationship marketing is to give the customers direct needs and requirements so that all their protocols are fulfilled. Open communication is promoted in the concept of relationship marketing which makes the concerned theories relevant and important. The concept of relationship marketing is applicable in the case of the royal couple and holds importance.
2.2 Importance of The Royal couple adopting a relationship marketing approach with key stakeholders
The importance of the relationship marketing approach with their key stakeholders lies in the fact that both the royal family and the royal couple are liable for their subjects and should consider the interests of their people and aim to meet their requirements. The relationship management approach of the royal couple lies in the fact that this type of approach helps to make sure that the people involved in the wedding either directly or indirectly are getting their due paid and also made sure that the stakeholders in their marriage are also meeting their interest and making proper use of the same (Homburg, Klarmann and Staritz 2012). The royal couple are made to serve the purpose and also given enough time and opportunity to serve their people which is their primary agenda. Both Prince Harry and Meghan Markle are advocates of genuine behaviour and always try to do best for their subjects which make their engagement in this sort of a relational management behaviour in their times of wedding one of the prime importance (McLoughlin 2013).
2.3 Two examples that illustrate how Prince Harry and Meghan have met or aimed to meet its stakeholders’ needs
The royal couple, Meghan and Prince Harry have adopted the approach of relationship marketing with the key stakeholders and have maintained it very well with integrity. The royal couple in their wedding invited a number of guests including the people involved in charities and other platforms in which they are involved. They have maintained their views and have included a number of people from various fields and arenas on their special day. The couple has also maintained the fact that the people who are their guests get the exact limelight which they deserve making the purpose of some of their guests a truth (Hennig-Thurau and Hansen 2013). Another stakeholder is the family of the bride who got all the attention and they could speak their minds in front of the media due to their association with the royalty. They made sure that their approach of relationship marketing is adhered correctly and made to use with immediate effect. The key stakeholders of the wedding are given due importance and they are made to their own mode of relationship management with royalty and the couple (Monger 2013).
2.4 Importance of building trust and loyalty with members of the general public and provide examples of how this may be achieved
Trust and loyalty are two important pillars that should be dealt with the members of the royalty with ease and importance. The members of the royal family show the symptoms of trust and loyalty to their subjects to make sure that they have a positive impact on their subjects. The importance of building trust lies in the fact with the required amount of trust, there is a specific amount of loyalty within the arenas of customer for the royalty and the members of the royal family. The importance of the building trust lies in the fact that the members of the royal family are public figures who need to interact with the general public to get their work done and also to make sure that their reputation among the masses remain intact with the people of the country (Martínez and del Bosque 2013). The loyalty of the people of the community is very important for the people who belong to the higher sections of the society as they have the scope to get the workings of the people of the sector of the lower or middle classes.
The task of building loyalty and trust with the general people by the people of the royalty can be achieved with some of the very basic and few steps that can be done namely –
Good behaviour with the general people is one of the major ways in which such a kind of achievement can be made. The good behaviour of the people belonging to the royal classes of the society can make the general people of the country feel wanted and have much importance in their overall candidature (Lund 2014). The good behaviour also attracts multiple other number of people into the genre and also make them aware of the presence of royalty. In the marriage of Prince Harry and Meghan Markle, there is a host of good behaviour by both the parties as a sign of respect to the people of the general order.
Another factor that can help in the building of trust and loyalty with the people of the royalty is the level of interaction. If there is a good level of interaction between the two classes of people, there is a possibility that the people of the lower sections of the society will have a better overview of the rich and royal classes of the society (Goffman 2017). Interaction can help to level most of the things in the place and so with a good level of interaction it is possible to get the required amount of benefits both for the lower and the middle classes.
2.5 Role and assistance of an account manager can assist Prince Harry and Meghan, in maintaining loyalty with members of the general public post the Royal wedding
One of the most important ways to establish loyalty with the people of the general class is to establish a monetary loyalty with the people which can be established by the people of the royalty with the help of their account managers. The people of the royal origin have a history of doing charity and working for the needy people of their province with Prince Harry and Meghan Markle being no exception to the same (Teicher, Cardis Enterprises International 2013). The prince and his wife are totally into charities and working for the needy sections of the society and they have a history of providing the same and even more to the people who need their help. The prince and his wife even invited a number of people from the charities in which they were involved in and also made sure that they received their fair amount of share in the wedding.
The account manager of Prince Harry and Meghan Markle can impose a number of measures for the maintenance of loyalty for the royal couple with the people of the general category. The account manager can make a number of changes in their financial planning and can also impose some of the measures required for the maintenance of their financial assets with the people (Ottar Olsen et al. 2013). The account manager can account for the financial workings and can also plan the amount of money that is to be invested for the charities and the general public in the course of the time. This makes up for the loyalty issue that is to be done in the course of time between the people of the royal classes and the masses.
Another role of the account manager is the fact that the account manager can help in the further calculation of the amount of money that has been spent in the process of charity by the people belonging to the loyal set. The account manager of the royal couple makes sure to have ample amount of generous resources for the betterment for the general mass of people and also to make sure that they get the required amount of benefit from the general people in terms of taxes and respect (Jaakkola and Alexander 2014). This type of financial give and take relationship makes sure that the account manager has an important role to play in the establishment of trust and loyalty with the masses.
2.6 Communication Plan by Prince Harry and Meghan to engage and build relations with members of the general public
Communication plan is defined as the plan that has been set by the members with their associates in order to communicate with the other sections of the society (Lando 2014). The plan set by the royalty in communicating with the people of the general category can be seen in the Appendix 2. The communication plan is set to ensure effective mode of communication with the people of the general category with the royalty and to make them realise the various types of communicative needs that are there between the people of the higher sections of the society and the general people who are known as their subjects. Prince Harry and Meghan Markle have an effective communication plan to implement their association with the people which is given in Appendix 2.
2.7 Justification each of the outlined messages and chosen mediums
The two messages are made to make sure that each member of the royal family gives an equal amount of dignity and respect to all the members of the society and they had included people from various groups into their wedding to embrace the dimension they always believed in. Prince Harry and Meghan always worked for the charities and for the betterment of the people and their inviting the different sections of people for their wedding and building up of relational management with them is a proof of their views. The newlywed couple of the British royalty made sure to engage themselves in the work of relational management by giving out two messages of equal dignity and respect and to ensure peace among the subjects. The mode chosen is both direct conversation and report to have both personal and official touch to their mode of conversation and also to ensure that their words are not misinterpreted by the people of the social order. The royal couple made sure to get the required amount of respect and loyalty off the general people of the class and also to make sure that their image in the minds of the general people remain intact and worthwhile. The medium and the communication message thus stated are both significant and necessary for the same.
Conclusion:
In conclusion, it can be said that relationship management and communication is one of the pivotal means of establishing a relationship between the higher sections of the society and the general people who wish to communicate and develop a world of mutual respect. The marriage of Price Charles and Meghan Markle is an example of the richness of the culture and thinking that the couple has in establishing the relationship management with the subjects of the Britain as well as the people with whom they deal in charitable trusts. In addition, the stakeholders of the organization are assessed and given due reasons about their means and motives with their benefits of being the stakeholders of the royal wedding. The use of Power Matrix is done in determining the position of the stakeholders and also an elaborated reasons are presented to the reasons of being in that order. The communication plan of the royal couple is also presented along with their mediums with required justifications to make sure the relationship management of the couple with the other people are maintained. At the end, the marriage and its significance in terms of stakeholder ship and relational management is being addressed with regards to the British Royal wedding of Prince Harry and Meghan Markle.
Relationship marketing is defined as the marketing process that fosters customer loyalty and further benefits with the long-term engagement to the masses and the people working with the people (Christopher, Payne and Ballantyne 2013). The aim of relationship marketing is to foster customer needs and benefits to them and thereby strengthening the relationship between them and the customers. The importance of relationship marketing is important in every aspect of the modern world marketing and it had been evident at the wedding of Prince Harry and Meghan (Peck et al 2013). They, unlike the other royal members have included a variety of different types of subjects including charities and groups in their guest list and made the ties with their subjects stronger and healthier. The wedding of Prince Harry was one of the finest instances of relationship marketing and implemented a number of techniques and ways to meet the stakeholder’s needs which has been explained in the following paragraphs. The report also highlights the different types and importance of relationship marketing along with a detailed communication plan for the same.
Reference:
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