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Event management and its relationship with other industries
Assignment for event management
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Principles of Event Management
Since the dawn of time, in one way or another, events have existed to mark an important occasion that is to happen. Celebrating the changing of seasons and phases of the moon are all events because it gathers people of a common interest to a specified place at a particular place. Although events have been around for many years, the 1990’s saw the events industry emerge. The events industry saw the growth of events related education in colleges and universities. At present times, events have grown in popularity to such a scale, that it is now a global industry. There are different types of event, which include social life cycle events, sporting, cultural, business and fundraising. Events can be divided in terms of size and the impact they make on society economically and socially. These are called Hallmark, Mega and Major Events. A hallmark must earn its name. An event is considered to be so significant in the spirit or ethos of a city or region, that it helps form an identity for that city and region. It also gains widespread recognition. A classic example is the Carnival in Rio. It represents Latin vitality and the exuberance of the city. Social Cycle events include birthdays, anniversaries and funerals. This events occur in accordance to the calendar, for example a person’s birthday can only be an event at a specified time of year. Sporting events are categorised into three types, which are Mega events, calendar events, one-off events and showcase events. Mega events are events that are so large that they affect whole economies and obtain media coverage globally. Examples are the Olympics and Fifa World Cup. It is difficult for many other events to be labelled a mega event. Getz (1997) defines a mega event: “those that yield extraordinary high levels of tourism, media coverage and prestige. Their volume should exceed 1 million visits, and their reputation of a ‘must see’ event”. A smaller version of a mega event is called a Major Event. Major events are capable of attracting significant amount of visitors, media coverage and economic benefits. There are numerous major events particularly in the cultural sector. For example, major musicals such as Cats and Mama Mia receive huge amounts of tourism revenue for London’s West End. Glastonbury Festival is a main contender to be categorised as a major event. Festivals itself can i...
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...marketing mix is a vital factor of marketing in events. Event organisers need to be aware of the consumer decisions-making process. The acronym PIECE explains this process, which stands for problem recognition, information search, evaluation of alternatives, choice of purchase and evaluation of post purchase experience. Problem recognition is involved in selecting a target market and appealing to their needs. This links to Maslow’s Hierarchy of Needs. Refer to Appendix F. Does your target audience want to look for romance? Build self-esteem? Overall what need will your event fulfil. These needs must be highlighted through marketing. Other competitors are a vital component in the decision-making process. What will make your event appeal more than another? What will finally convince a consumer to attend an event? What are the incentives? Post event is just as important. Did the target market enjoy the experience? Was it enjoyable? How will customer satisfaction be monitored? Handing out questionnaires is one tool. Kotler et al defines the marketing mix in as “the set of controllable tactical marketing tools that the firm blends to produce the response it wants in the target market”.
The 4 Ps of the marketing mix are: Product, Promotion, Price, and Place. The marketing mix puts the right products, at the right price point, in the right place, at the right time. The following examines how Claire’s Chocolates optimizes its marketing mix (Yoo, Donthu, & Lee, 2000, 195-196).
Malfas, Maximos, B. Houlihan, and E. Theodoraki. "Impacts of the Olympic Games as mega-events." ICE, 2004. Print.
The marketing mix is "the controllable variables the company puts together to satisfy the target market" (Perreault and McCarthy, 2004). The target market is the group of customers the company wants to attract or appeal to with the service or product. The marketing mix includes four elements called the four P's of marketing: product, place, price and promotion. These four elements work together to produce a profit. Changing any one of the four will affect the results of the other three. The marketer uses the marketing mix to develop the marketing strategy; thus, determining the marketing mix is an important first step in the process. "It takes proper coordination, planning and use of each of these elements to reach the consumers in one's target market". (Lake, 2006).
•Sports events - Referring to the tourism where major purpose of the trip is to participate in the sports event, either as an observer or a participator.
Rawlinson, J. (2013). Music Festival Tourism Worldwide - International - June 2013. Retrieved 02 28, 2014, from Mintel Report: http://academic.mintel.com/display/643783/
According to Principles of Marketing, 14e, Kotler and Armstrong, 2012 - "The Marketing Mix is the set of tactical marketing tools - Product, Price, Promotion, and Place - that the firm
The "Marketing Mix" is a term used to describe the combination of tactics used by a business to achieve its objectives by marketing its products or services effectively to the customer. It is also known as the 4 P's Product, Price, Promotion, and Place. The marketing mix is also known as the '7 P's', when you add people, process, and physical evidence to the first four.
...fective marketing tools to reach consumers” (Kerin et al., 2009 p. 13). Additionally, the main recommendation for the marketing mix concept is to stay focus and go beyond and above its goal to sell a product. In other words, from the consumers’ perspective, identify and meet the needs of a selected targeted market and from the company’s angle, meet financial and marketing objectives. “… [the four] elements [of the marketing mix] will potentially contribute to the success of the product…” (BusinessMate, 2010).
The Marketing Mix: According to University of Newcastle (2017) Marketing mix is the company strategy to outline which customers the company will serve and how it will create value, the program builds relationship by transforming the strategy into action.
A marketing mix refers to a system of classification that an organization uses to manipulate factors of marketing to generate optimum revenue from its target markets. These factors are the product, price, place and promotion, also known as the four P’s. Thus as stated by Kamal (2007), a marketing mix can simply be seen as getting “the right product to the right place… at the right price, and at the right cost”, with the right promotion strategy. Once a company has established a decent product and selected its target market it should begin to establish a price range that would suit each market segment it wishes to reach. It can then establish a ‘place’ or method of distribution for each product and ten, finally a promotion and advertising strategy to create awareness within the various market segments.
The marketing mix, also known as the 4 Ps of marketing, refers to the set of actions that a company uses to promote its brand or product in the market. It consists of product, price, place and promotion. All elements of the marketing mix influence each other. They make up the business plan for a company and can give it great success.
Risk management is the term applied to a logical and systematic method of establishing the context, identifying, analyzing, evaluating, treating, monitoring and communicating risks associated with any activity, function or process in a way that will enable organizations to minimize losses and maximize opportunities. (Lecture notes)Risk Management is also described as 'all the things you need to do to make the future sufficiently certain'. (The NZ Society for Risk Management, 2001)
...fields will be given and afterwards it will be covering marketing, public relations and advertising main points and this way providing a comparison. “Marketing mix” serves as a connector between “target market” and “target consumers” for companies to achieve their marketing aims (Kotler, Armstrong,Wong and Saunders, 2008:49). “Marketing mix” is the key desicion part of marketing to implement their goals (Jobber, 2010:17). Moreover, the “4-Ps of the marketing mix” consists of:
In Singapore, event management is a large sector and it is growing rapidly along with Singapore’s position as a global business city. Singapore is known to be a country with excellence meeting and convention spots and a preferred destination for Meetings, Incentives, Conventions, Exhibitions (MICE) and other events. As Singapore is strategically located at the crossroads of multiple air and sea routes, it is able to provide convenience for people travelling to Singapore, with many direct flights from other countries. Singapore has grows to become an international large-scale events destination over the years. With the government’s vision of expanding Singapore’s sports, arts and entertainment sectors, infrastructures were developed such as
While in Rio, Gomes (cited in Smale 2012), agreed that the citizens of Brazil became more attracted to the Olympics after the 2012 Olympic in London. She concluded that according to the public, Rio would not gai...