Proposal for Event Management Company

A report on the Proposal for Event Management
Company
Submitted by
Student’s Name:
Professor:
University:
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Executive Summary
Fantastic Music Decorators is a well known in the event management industry which is
specialised in retreating its corporate customer has asked its Assistant Finance manager to
identify and propose an event that seems to be financially viable. Hence the finance manager
is writing this proposal covering the broader aspects like the introduction of the company,
results of his market research, a critical analysis of the alternative sources of funds to fund the
event, a critical analysis of the pricing strategy to be adopted for pricing the products and
services for the vent etc, which have been presented in the following section.
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Table of Contents
Executive Summary...............................................................................................................................2
Introduction...........................................................................................................................................4
Company Profile................................................................................................................................4
Description of the Venue and its facilities.........................................................................................4
Market research................................................................................................................................4
Market research and commercial viability of the events proposed......................................................4
Market Research...............................................................................................................................5
Market Segmentation........................................................................................................................5
Projected Statement of Profit and Loss.............................................................................................5
Critical analysis of the sources of funds.................................................................................................6
Critical analysis of the purpose of financial management.....................................................................6
Critical analysis of the pricing strategy..................................................................................................7
CVP analysis...........................................................................................................................................7
Recommendation..................................................................................................................................8
Conclusion.............................................................................................................................................9
References...........................................................................................................................................10
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Introduction
Company Profile
Fantastic Music Decorators is one of the renowned event company based out of London. The
company has been in profit for quite some time and employs 2 full time salaried people and 5
part time staff. The company mainly deals in decoration for events and parties, weddings and
other social functions. It is well known for its unique work in political manifestations, rallies
and music festivals and concerts as well. The company was formed in 1988 by 2 students
who were studying event management in the Greenwich University (Belton, 2017).
Description of the Venue and its facilities
The venue which will be chosen is Tottenham Hotspur stadium considering the huge capacity
of 50000 people which it can accommodate. The same has also been approved by the mayor
of London Boris Johnson in the month of February, 2016. The venue has been selected as it is
centrally located and easily accessible to local public. There are a number of transport means
which are available and people who use public transport like buses and trains can also reach
there quite easily. Furthermore, the stadium has got good security measures which will be an
added advantage considering the crowd.
Market research
As per the BBC news, a Bomb attack in Manchester Arena on 16th May, 2018 is suspected to
have killed over 22 lives and over 800 people were also injured who were present there to
celebrate one of the music events. The main reason for the selection of Tottenham Hotspur
stadium was the large capacity holding of 60000 people and ample security and safety for
people. It was also established that none of such event was organised in the stadium in the
past and that makes the venue more attractive for the fans of Tottenham club as well as the
local public.
Market research and commercial viability of the events
proposed
The Assistant Finance manager has proposed to organise a corporate retreat planning for the
Raymond Group of Industries considering it as one of the most profitable option to earn a
steady market gain (Alexander, 2016). The major reason for opting for this proposal is that
the Assistant Financial Manager strongly feels that though during the period of the economic
downturn companies prefer the trend to follow the cost cutting strategy, but this is not the
case for the large corporate groups like Raymond. These corporate groups may lay off its
employees, but shall always consider the expenses incurred on training their employees as a
worth making investment. Further recently one of the representative from the personnel
training and Administrative cell has visited the Fantastic Music Decorators with a view to
organising the Training session on the recently implemented tax mechanism of the
government naming goods and service taxes. Further the Assistant financial manager strongly
believes that the market for the corporate training and leadership retreats rarely shows a
diminishing trend rather demonstrates a steady rise always.
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