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(Solution) Assignment on Event Management

   

Added on  2021-04-21

17 Pages4111 Words80 Views
Finance
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Running head: EVENT MANAGEMENTEvent ManagementName of the student:Name of the University:Authors Note:
(Solution) Assignment on Event Management_1

1EVENT MANAGEMENTTable of ContentsIntroduction:....................................................................................................................................2Market research:..............................................................................................................................3Commercial viability of event management products:................................................................3The following organizations are the main competitors in the event management industry in thecountry to Julia Charles:..............................................................................................................5Sources of finance:..........................................................................................................................6Analysis of the main purposes of financial management within the event industry:......................7Critical analysis of relevant pricing strategies available to the event management company toprice its products in the industry:.....................................................................................................8Critical analysis of CPV and break-even point for the particular event:.........................................9Break even analysis:......................................................................................................................12Recommendation:..........................................................................................................................13Conclusion:....................................................................................................................................14Reference.......................................................................................................................................15
(Solution) Assignment on Event Management_2

2EVENT MANAGEMENTIntroduction:In the United Kingdom Julia Charles is well known event Management Company in allover the world. The company specializes in managing different kinds of events includingentertainment events. Creativity and innovation are the two main aspects of the company’sservices and the management uses these two elements effectively to manage entertainment,business and luxury events. Though the company is based in UK the services of the company in relation to the eventmanagement are stretched to different parts of the world. The company is credited for some ofthe most creative event management services in UK with number of events for shopping centredisplays and entertainment events. The company takes pride in providing highest quality servicesto manage different events as required by the clients of the company. The company has wonnumber of awards for providing creative event management solutions for the clients to satisfytheir requirements (Titman et al. 2017). The company offers creative event management services and provides top qualityentertainment management services for the clients. The company has its own in-house costumedesigners, planners for wedding, luxury event planners and designers to design prop to manageevents of different kinds. Thus, the company is well equipped to manage wedding parties, babyshower parties, designer events, company product launch parties, entertainment parties andevents of any kind.
(Solution) Assignment on Event Management_3

3EVENT MANAGEMENTMarket research:In this part of the document a detailed discussion shall be made on the findings from themarket research which have been conducted on the commercial viability of similar events andthe existing competitors of the company in the market. Commercial viability of event management products:Here the market research has been limited to the market in the United Kingdom since thecompany’s majority of operations are limited within the boundaries of the country. According tothe findings of a recent study conducted on the UK event industry the industry is almost worth of₤45.00 billion and currently supports almost 600,000 jobs directly (Barr and McClellan 2018).The market research further provides that on an average event attendees spent ₤68,000 in annualregistration fees. In-fact just a year back, i.e. in the year 2016 the market research on the eventmanagement industry showed the following results:
(Solution) Assignment on Event Management_4

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