Operations & Management
V. Operational Plan
Product/service development
Customers seek event planners to assist in some aspect of an event, whether that event is celebration, business conference, promotion or rallies, or commemorations. Often individuals find that they lack the expertise and the time to plan events themselves. Most people who employ event planners for these types of parties are in the middle- to upper-income levels and have some spare income but no spare time. While the nature or reason for events will vary, there is basic framework that with a little customizing, will match the needs of each customer. ABC Events will focus on celebration of family events. This company will goal is to develop a package of services that meet the needs of customers. There are five reasons a customer can benefit from hiring ABC Events.
1. The customer saves time – ABC Events can plan, organize, and execute the event in less time than customer could, allowing them to focus on other responsibilities or just having fun and enjoying the event.
2. The customer can save money – ABC Events will use its experience, knowledge, and relationships to ensure the customer receives the economic pricing for the event.
3. The customer benefits from the experience and knowledge of ABC Events – The customer benefits from the knowledge and experience of ABC Events owner.
4. Capitalize on Their Contacts and Resources – ABC Events will a relationship with vendors to address common issues. Not only to it ensure a quick response, but also repeat business will open the door to better pricing.
5. Stress-Free Troubleshooting – Despite all the planning, preparation and management, problems still occur. ABC Events will be there resolve the problem,...
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Their ability to distribute the cut rate from their operating proficiencies in supply chain management and cash flow, permits them to offers items at discounted rate and a lower price than their competitors. For Costco the meaning of being the low-cost provider while also differentiating from the competitors is ambiguous at best. Costco’s CEO, Jim Sinegal, is certain that low priced, and the high value merchandises are exactly what is needed maintain and achieve a staying power in the industry. Costco also entices their customers with low prices on designated set apart products available only at their stores. Within these designated products, Costco provides a limited selection of nationwide brand-named merchandises in some wide categories. Their approach comprises of selling a limited number of items, keep their costs down, maintain a high volume, compensate employees well, ensure that customers buy their memberships, and target upscale small-business owners through their business only
that it’s free for us to hold the event. The event can be held in one day, so it isn't a time crunch,
The Big Bucks Corporation and Consolidated Industries, two major corporations have just merged. The two companies have picked Nashville, Tennessee as their desired location for a six-day planning meeting bringing together the upper management, which will now consist of 250 executives. Nashville, Tennessee is a great location for a meeting, there is plenty to do and lots of DMCs that can help me plan companion programs, trips and tours for the wives of the executives. Destination Nashville, is a global DMC partner as well as the Gaylord Opryland Resort’s go-to for anything events related. They specialize in Meet & Greets, Tours, and VIP Activities, Shuttling and Transportation, Evening and Daytime customized services for all types of guests. Blue Spark Event Design has a Nashville location. They strive to create more for the guest traveler to Nashville and specialize in historical tours, sports tours, museum visits, and of course anything to do with country music. Blue Spark Nashville can also help companies with meeting planning, site selection, hotel sourcing and contract negotiation, registration, and if necessary audio visual requirements. Now, saving the best for last, The Key Event Group is Nashville’s premier DMC. They pride themselves on delivering creative, high impact events and have been doing so since 1978. In conjunction with their high impact events, they also do team building activities, Full, Half Day, Pre and Post meeting Tours, they visit historic Nashville sites, as well as plenty of sporting options. They too, specialize in Meet & Greets. I believe that each of these DMCs would make a great choice simply because they all offer pretty much the same thing. The only differences would be how long they have been oper...
Lower prices draw a larger audience. When tickets are inexpensive and in high-demand, audiences are drawn to that event, thus creating a
They are the Total Health Show and the Whole Life Expo. Total Health Show currently hosts 200 exhibits specifically catering to the natural healthy lifestyle, 60 international speakers and attracts around 20,000 people. This event will earn the highest profit ($4585) with a cost of $1400 and $5985 in sales. This event also requires a deposit of 20% at the time of booking. The show that offers the next highest return is the Whole Life Expo. They are currently the largest showcase of natural health and green living products and services. They also attract 200 exhibitors and 90 speakers in a three-day event held at at the end of November. This event will earn the second highest profit ($3438) out of the four available options, earning sales of $4788 and costs of $1350. Another reason why we feel Whole Life Expo to be the best, besides Total Health Show, is because they are the cheapest for the brand to attend. With the remaining three shows all offering the same return on investment, choosing the one, which costs the least, makes the most financial
It will provide the necessary tools, techniques, examples and methods to sponsor and exciting and profitable event
One of the benefits of using ABC system is product and price mix decisions; one of the
Others feel that ABC would be more widespread in industry if it were marketed better by the cost accounting profession itself [1]. As the dust has settled, ABC has turned out to be less a revolutionary technique than a useful refinement to proven systems. The costs of products and services must be accurate, or management can be misled. Decisions... ...
Objectives- Currently the company that provides a free calendar receives its income from advertising on the calendar. So, we can believe that the objective is to provide a basic product, and spend as little as possible to place the product in the market.
You have decided on a location, and now it is time to make a list of the people who will be attending. Make a list of everyone you want to attend and do not forget their family members who may come with them. You may want to allow everyone to bring a friend if they are single, or you suspect they will come alone. Fill out your invitations and get them in the mail at least two weeks before your event. Now you are ready to get down to the details of the part...
NetMBA. (2011). Pricing Strategy. In NetMBA Business Knowledge Center. Retrieved February 27, 2011, from http://www.netmba.com/marketing/pricing/
So, furthermore, it is quite easy to enter and exit the market however, brand loyalty can influence how well your event planning does in the industry. Thus, consumers tend to look at the level of knowledge, expertise, and experience many event planning businesses entails in order to differentiate one from other competitors. Therefore, you tend to see that many consumers generally base their decisions and choices on if they have utilized the services previously, does the company have a great reputation, is the company known for exceptional services and events, and does other consumers speak highly about the business. All these factors contribute to how well a company excels over its competitors in the market. Moreover, these attributes and qualities brings forth and bridge brand loyalty among its consumers and potential consumers looking for quality services and companies within the event planning business and causes many event planning businesses to stand out and reign supreme over others. All the more making it harder for other incoming event planning business to excel due to others in the industry have the upper hand when it comes to knowledge and expertise according to many
After selecting the team, the group’s chair leader will be appointed and the team will aim at making a detailed plan for the event. Markedly, this strategy will have to entail the budgets, time lines, and data from the community. Similarly, the team will investigate the technicalities such as reserving a venue, publicizing the event, securing resources to be used, and so on. Therefore, the professional team’s input will ensure that the event has a good
Without a successful business strategy put in place the company would fail and be unable to compete with competitors. There would be on way of knowing what resources are required. No planning for the future of the business. If there are no targets set out to achieve there would be no way of measuring how successful the company has been.
From business conferences to weddings, there are events going on all around us, and where there are events there are event planners constructing it, putting it all together, while making everything run effectively. Event planning is always unpredictable and you need to be always ready for any problematic situation that may occur. When starting out there is a great chance that problems will occur that one will not prepared to face, but this is all a part of the improvement process. These situations should be looked at as a learning experience and should give you some ideas of how to improve one’s event planning skills and one’s own business. Because of all the hospitality, craziness, and personal gratification, I have chosen to become an event planner.