Overview Of Event Marketing

This chapter gives an overview on Event Marketing and other traditional promotional tools, selling mix every bit good as why this survey will be carried out followed by the research inquiries and hypothesis

Hire a custom writer who has experience.
It's time for you to submit amazing papers!


order now

1.1 Background

Selling is a societal and managerial procedure by which persons and groups obtain what they need and want through making and interchanging value with others. ( Kotler & A ; Armstrong ) . It aims at pulling new clients while retaining bing 1s by assuring superior value and by presenting satisfaction. The fact that there are many trade name names, companies are viing with others in order to bring forth gross revenues and net incomes which have led companies ‘ publicity to make out the mark market.

Harmonizing to American Marketing Association, “ Promotion is the personal/impersonal procedure of helping and/or carrying a prospective client to purchase a trade good or service or to move favourably upon an thought that has commercial important to the marketer. ” Its design has in many lines of concern go the lone factor dividing a company ‘s offer from its rivals. ( Behrer & A ; Larsson, 1998 ) . The publicity mix, which stands for a company ‘s entire selling communications plan, originally consists of advertisement, personal merchandising, gross revenues publicity, and public dealingss ( Kotler & A ; Armstrong, 1994 ) .

Promotional Tools

Tools

Benefits

Drawbacks

Advertising-

give-away, cyberspace,

telecasting, wireless, imperativeness, non-media options

Powerful media that can make multitudes of people

Educate, sensitize and motivate people on wellness, educational, moral and societal issues

Helps construct client trust

Can non reply all a client ‘s inquiries

Can non carry clients to do a concluding buying determination

Incorrect pick of merchandise or hapless creativeness may degrade the image of advertizer

Personal Selling

Bipartisan signifier of communicating, customized message and addition feedback

Constructing relationships with assorted clients

Most practical promotional manner to make those who are non easy reached through other methods.

Using a gross revenues force is dearly-won

Time-consuming in order to make out a big audience

Gross saless Promotion

e.g. Price publicity, vouchers, gift with purchase, frequent circular, point of sale shows

Different monetary values charged to different consumers and trade sections depending on how sensitive each section is to peculiar monetary values

Good short term tactical tool

Customers wait and clip their purchases to co-occur with promotional offers on their preferable trade names

Excessively much publicity may damage the trade name image

Public Relations – imperativeness release

Credibility- since the message seems to be coming from a 3rd party ( e.g. magazine, newspaper )

Lead Coevals

Ability to make specific groups

Image Building

Hazard of losing control – can non ever command what other people write or say about your merchandise

Management and a deficiency of co-ordination

Direct Marketing –

Direct mail, on-line selling

Enables you to speak straight identify, isolate and communicate with chiseled mark markets.

Cheaper than mass market communicating

Enable you to aim different messages to different receivers

Relationship Building

direct mailing offends the clients and many do non O.K. it as they say it inhibits their private lives.

Table 1: Promotional Mix pros and cons

Changing communicating environment

With the rapid gait of technological and commercial invention in the media and communications environment today, it has become expensive to make and act upon mark groups through traditional media. Since companies besides progressively are seeking to vie through publicity, new ways of making so are developed in order to distinguish the messages the company wants to pass on ( Behrer & A ; Larsson, 1998 ) .

Along with the addition of media jumble there is an addition in the involvement for media that can set up a personal relation to the clients. This is the chief ground to why event selling now is steadily turning. ( Lundell, 1999 ) .

Event Selling

In Event Marketing ( EM ) the event is an activity that gathers the mark group in clip and infinite ; a meeting in which an experience is created and a message communicated ” . ( Freely translated by the writers from Behrer & A ; Larsson, 1998 ) .

It involves advancing products/ services through patronizing or hosting events and a good manner of set uping good public dealingss among targeted members or the audience. It is marketing through events, where selling is seen as cardinal and the event is considered the existent selling tool. Companies can easy pull more clients and assist the concern to turn and boom. Event publicities have an chance to accomplish success because, unlike other signifiers of selling communications, events reach people when they are receptive to selling messages and gaining control people in a relaxed atmosphere. It is turning quickly because it provides companies options to the littered mass media, ability to section on a local or regional footing, and chances for making narrow lifestyle groups whose ingestion behaviour can be linked with the local event. It integrates the corporate sponsorship of an event with a whole scope of marketing elements such as advertisement, gross revenues publicity, and public dealingss.

Ems can be used in concern to concern every bit good as in consumer selling. It is within the country of consumer selling that it is today most significantly increasing. ( Lundell, 1999 ) . Hence, the return of event selling is the personal meeting.

Kotler describes the organisation ‘s selling mix as governable variables that are mixed so that the organisation gets the response that they are inquiring for from the mark market. EM every bit fits under publicity in the selling mix. It can be seen as a combination of the different parts in the publicity mix ( Behrer & A ; Larsson, 1998 ) .

Monetary value

List monetary value

Discounts

Allowances

Payment period

Recognition footings

Merchandise

Assortment

Quality

Design

Features

Brand name

Boxing

Servicess

Target Customers

Intended Positioning

Em

Promotion

Ad

Personal merchandising

Gross saless publicity

Public dealingss

Topographic point

Channelss

Coverage

Assortments

Locations

Inventory

Transportation system

logistics

Figure 1 — The Four Ps of the Marketing Mix – Merchandise, Place, Price, and Promotion ( Sellerss ‘ Point of View )

Companies that use EM must see other parts of the publicity mix before, during, and after the event every bit good as the different sorts of events and the locale which will take to success. One of the chief advantages with EM compared to the other channels is that the aim can both be direct gross revenues, and image edifice, depending on how it is used.

Problem treatment

Many writers, such as McManus ( 1995 ) and Holland and Rich ( 1999 ) , stress the importance of planning and holding a thorough scheme in order to win with EM. A scheme that puts the clients in the Centre of the investing must be considered in order to present the expected end product.

Another major issue brought up is the aims with EM ( Taranto, 1998 ; Behrer & A ; Larsson, 1998 ; Menaghan, 1983 ; Andersson & A ; Mossberg, 1998 ; Walker, 1999 ; Holland & A ; Rich, 1999 ) . Taranto ( 1998 ) states that placing the aims with EM is really of import. The writer claims that this is really hard, really frustrating but finally most honoring in order to win with EM. Sing what objectives that are most normally stated with EM, discordance exists among different research workers. Behrer and Larsson assert that the chief nonsubjective companies have with EM is to make or beef up the corporate or trade name image, which is supported by Meenaghan ( 1991 ) .

Andersson & A ; Mossberg, on the other manus, stress to construct relationships with clients as a chief aim with EM. Andersson and Mossberg are supported by Taranto and Behrer and Larsson, who points at the increased importance of relationship development as an aim. Walker states that all aims with EM should fit the overall selling aims. Furthermore, Holland and Rich province that the aims with EM should be clearly defined and the company must do certain that everyone involved to the full understands them.

Another issue of importance in the use of EM is, harmonizing to Meenaghan ( 1991 ) and Taranto ( 1998 ) , the choice of a specific event. Meenaghan states that it is of import to analyze a proposed event against certain relevant standards, so that it represents a rational pick. Even though the event choice is single for each company, there are some general standards that harmonizing to Meenaghan frequently are considered in most companies ‘ event choices. The company should hold a policy when choosing events, reflecting the vision of itself and its merchandises. The policy should clearly place both acceptable and unacceptable countries of activity.

Furthermore, the rating of event effectivity has received great attending in media every bit good as by assorted research workers. Harmonizing to Meenaghan ( 1991 ) , it is necessary to measure the events against the earlier declared aims. Behrer and Larsson ( 1998 ) note that many have had the belief that mensurating the effects of EM is non possible. This is nevertheless a false apprehensiveness, harmonizing to the writers. Just like every effort to pass on through media, EM can be evaluated, and frequently with the same methods normally used to mensurate effectivity.

Overall, EM offers great advantages for companies in the increasing media jumble and difficult competition ( Behrer & A ; Larsson, 1998 ) . In fact, the greatest advantage of EM is, harmonizing to Forsstrom ( 1998 ) that the mark group is efficaciously reached in an environment without media noise. This makes it possible for the company to set up a personal relationship to the client, and is harmonizing to Lundell ( 1999 ) a major ground to why EM is turning in popularity. Naturally, there are besides disadvantages connected to EM, although really few writers bring these up. Behrer and Larsson note that there are some disadvantages with EM in comparing with advertisement, such as less standardized solutions and inflexibleness. Most research workers agree that EM is an progressively of import promotional tool.

Need of the Study

Since EM is a comparatively new construct within publicity, it is interesting to happen out:

companies sentiments or to what extent Em can genuinely function as a promotional tool

To understand and pull off the event in the best and effectual manner.

To analyze and analyse certain issues in EM and event direction which need farther attending.

To give suggestions to do the EM and event direction industry more effectual

Research Questions

Make companies see effectual strategic planning when forming events in order to hold a good return on investing?

What objectives do companies put out with EM?

To beef up corporate or trade name image

To advance positive merchandise tendencies

To speed up the merchandise into new markets

Relationship edifice with Media & A ; Public & A ; other concern

To understand client attitudes

To carry purchasers for concluding purchase

To reply purchasers questions – face to confront

To aim group efficaciously

How do companies choose a specific event? What Policy do they hold?

How the event effectivity is finally evaluated?

Is EM compared to advertisement has less standardized solutions and inflexibleness?

Hypothesis

( What Hypothesis exist therefore ) ?

x

Hi!
I'm Heather

Would you like to get such a paper? How about receiving a customized one?

Check it out