Different Types of Corporate Events and Their Strategic Focus

This document discusses the different types of corporate events, including exhibitions, sales meetings, and seminars. It also explores the difference between leisure and corporate events. The document further delves into how corporate events meet strategic goals and the criteria for identifying potential customers. Additionally, it covers the elements of a basic feasibility study and provides a plan for a corporate event, including the principles of planning and promotion.

Corporate Events
Management
1

Table of Contents
INTRODUCTION.....................................................................................................................3
Main Body..................................................................................................................................3
TASK 1......................................................................................................................................3
P1) Discuss different types of corporate events.....................................................................3
P2) Difference between Leisure and Corporate event..........................................................4
TASK 2......................................................................................................................................4
P3) Discuss different types of corporate events along with the way in which they meet with
strategic focus and goals........................................................................................................4
TASK 3......................................................................................................................................5
P4) Discuss different criteria to identify potential customers for a new event......................5
P5) Discuss elements of basic feasibility study.....................................................................6
TASK 4......................................................................................................................................7
P6) Devise a plan for corporate event along with principals of planning and promotion....7
P7) Discuss the process for planning and promotion of a corporate event............................9
CONCLUSION........................................................................................................................10
REFRENCES...........................................................................................................................11
2

INTRODUCTION
In business sector, there are ample of events organized at wide level in order to enhance
presence of company at market place. These events are also helpful to formulate long terms
business relationships with business tycoons that is essential to grow and prosper in corporate
sector. Here, events are organized to bring new ideas, launch a new product and service at
market place (Abratt and Mingione, 2017). It is analyzed that corporate events are organized
in systematic way that includes proper planning in order to get desired results. In the current
report, Seven Events Ltd has been selected that is based in London, UK. It is monitored that
company organizes digital and live events with an aim to provide better experience to
customers. In the report, different kind of corporate events have been discussed. It also
comprise difference between corporate as well as leisure event. In addition, it also includes a
complete plan for organizing an event along with the process used for planning and
promoting an event.
Main Body
TASK 1
P1) Discuss different types of corporate events
Here, corporate events refer to those events that are organized in formal and
systematic manner in order to attain predefined business objectives. These include ample of
activities that are associated with institution, professional work, industry and more. Different
types of corporate events are given as under:
Exhibition: It is organized for business purpose in which ample of people take part. It
helps organization to enhance its current brand image and strengthen its position in market.
These events are considered as better way to demonstrate products and services to audience.
In reference of Seven Events London, managers are responsible to determine appropriate
sponsorship rates in order to promote events in an effective manner. In addition, organization
also provides appropriate space and corner services so that employees can conduct event in
better way (Agha, Pham and Yu, 2020).
Sales meeting: In this, people who are part of sales team take part in the meeting.
Here, a common meeting is organized in premises where all the people can join and interact
with each other. Main aim of these meetings is to attain predefined objectives of sale team in
an effective manner. There are different person such as wholesaler, sales members, retailers,
suppliers take part in this meeting. It is monitored that in Seven events London managers
3

organize these kind of meetings that is crucial to increase in productivity and profitability of
company.
Seminars: It is the most crucial type of corporate events that are conduced to deliver
necessary information to target audience. These events are organized for short duration such
as from couple hours to some days. There are generally some speakers present in seminars to
address the audience in an appropriate way.
P2) Difference between Leisure and Corporate event
It is stated that corporate and leisure are two important type of events that are widely
organized within event industry. Difference between both events is discussed below:
Leisure event Corporate event
Here, different events such as concerts, sports
event, entertainment and more are organized
in an effective manner.
This includes commercial, business and trade
events such as conferences, seminars, sales
meeting, exhibition and so on.
Main objective of these events is to entertain
people in large number (Argenti, 2018).
On another side, these events are organized
for promotional purpose as well as rewarded
and felicitating people, charitable cause and
many more.
Here, enthusiastic individuals are recruited so
that audience can be retain for longer
duration in an effective way.
In this, skilled, competent employees are
hired so that they can deal with business
clients in an effective manner.
TASK 2
P3) Discuss different types of corporate events along with the way in which they meet with
strategic focus and goals
It is monitored that in business world there are different corporate events are
conducted which help to attain predefine strategic goals and objectives of company. In
addition, corporate events helps an organization provides ample of benefits to organization
that will further help to get competitive advantage at market place (Barik and Pandey, 2016).
Events are discussed as under:
Conferences: These events are conducted for the people who belong from same field.
Here, different kind of professional activities are organized to learn new and creative things
effectively. Main aim of conferences is to gather ample of people at single place where they
4

can exchange thoughts and opinions with each other. It is crucial for effective decision
making in organization.
Trade shows: It is an event where products and services of company are showcased to
target audience in order to grab their attention. These target audience include suppliers,
potential users and many more. These events people belong from same sector take part in
large number that is crucial to maintain long term business relationships (Euchner, 2016). In
addition, these events helps to formulate positive brand image of company among customers
though positive word of mouth. It is analyzed that main goal of each and every company is to
earn higher profit. This event is helpful to providing higher competitive edge to organization
that will eventually lead towards higher profitability.
Product launch: It is analyzed that product launch is a crucial event that is organized
while an organization is going to introduce new products and services. Here, it is crucial to
aware customers regarding new products & services in order to get an edge over competitors.
Further, it helps managers to get acceptance from customers that will help to inflate in current
sales & profit margin.
There are ample of corporate events that are organized with some predefined purpose
such as attracting customers, launching a new product and service and more. In addition,
these events are helpful in increasing overall profit margin of company. Thus, events will
help to achieve predefined strategic objectives (Inya, Psaros and Seamer, 2018).
TASK 3
P4) Discuss different criteria to identify potential customers for a new event
It is analyzed that it is crucial to attract more and more audience for the success of a
new event. For this, there are ample of strategies are used by event mangers. Here, they
analyze current market condition and their existing number of customers. It helps to know
about taste, preferences, needs and requirements of buyers. Further, they also analyze
competitor’s positing and strategies used by them in order to make necessary modifications
on their own strategy accordingly. Further, managers also establish a relationship with
different personnel’s who visit in event. This networking really helps to attract more number
of client’s which is essential to increase in existing sales & profit margin.
In regards of Seven Events London managers are looking forward to conduct an event
that is related to new restaurant named “Foodie Floavour”. Restaurant is established in one of
the Porsche area in London. It is analyzed that currently it is operating business ay small
scale but planning to add some new things in their existing menu so that they will be able to
5

attract more audience. It is also essential to retain customers for longer run by providing them
different foods and beverages. With this, organization is able to earn substantial amount of
profit and revenue.
Here, event is related to add some new as well as unique products in menu in order to
grab the attention of audience in significant manner. For effective implementation of this
plan, managers of Seven Events London need to gather required information about guest who
will attend the event. It will help to meet with requirements of audience in an efficient
manner. Here, inappropriate analysis regarding target audience may become a reason of
failure of new event. So, some predefined standards related to identification of target
audience are discussed as under:
Purchasing power: It is monitored that different customers have different purchasing
power so it is crucial for Seven Events London to make arrangements as per financial
capabilities of different person. In context of new event of company people who can spend
money freely without giving ant second thought are right audience. In simple word,
impulsive audience is appropriate for new event and will help organization to earn substantial
profit margin (Mamun and Shaikh, 2018).
Interest in drink and junk food: The another important criteria for selecting target
audience is to target such people who are fond of new and unique food & beverages. For the
success of new event, it is vital to tap appropriate audience who like to enjoy different
flavours of beverages. It will help them to earn significant profit by increasing the sale of
food products that are being prepared by foodie flavours. By this way, organization will be
able to target appropriate audience that will further lead company towards goal attainment.
P5) Discuss elements of basic feasibility study
There are a lot of resources required to conduct an event. It causes higher cost so it is
essential for managers to undertake feasibility study before undertaking an event. This study
helps to know that is it profitable rather feasible to organize an event. It also comprises
outcomes of event. For feasibility study different factors are given as under:
Time feasibility: It is vital to identify whole time that will required to launch a new
product, organize a trade show, conference, seminar and other event (Odriozola and Baraibar‐
Diez, 2017). In this study manager analyze whole situation, make necessary anticipations and
determine necessary time to conduct an event. In regards of Seven Events London, it is
ensured to prepare, manage as well as organize all the necessary activities in order to conduct
a successful event.
6

Risk Feasibility: It is significant for managers to analyze risk factors associated with
corporate events. There are ample of uncertainties associated with future so it is vital for
managers to prepare an effective strategy in order to deal with future situation in an efficient
manner. In reference of Seven events London, there are a lot of risk include in launching of
new products through Foodie Flavours. This risk in implementation of this event are related
to damage of property, risk of injury, legal as well as market risk & more. So, to deal with
future uncertainties manager need to prepare effective strategies.
Funding feasibility: It is related to availability of necessary funds so that event can
be organized in predefined manner. There is huge fund required to undertake business events.
In addition to this, available funds need to manage wisely in order to attain desired goals. In
regards of Seven events London, it is crucial to prepare a complete budget that will include
all the expenses incurred in launching of new products. With this, they will be able to make
effective use of available financial resources (Rylov, Shkurkin and Borisova, 2016). It helps
to attain substantial amount of profit and revenue that is essential to get competitive
advantage at market place.
Staffing feasibility: Here, human resources play a crucial role in overall growth and
success if company. They are responsible to make appropriate use of available resources that
helps to increase in productivity and profitability of organization. In content of Seven events
London, employees are significantly linked with the process of launching a new product. It is
analyzed that staff members of respective company are competent, skilled thus able to
perform assigned task in an efficient manner. Here, organization also provides appropriate
motivation to work force through monetary and non monetary techniques that enhances their
productivity as well as efficiency.
So, there are ample of factors such as finance, human resources, risk and more that
need to include in feasibility study in order to carry out an event in an efficient manner. It is
also essential to make appropriate use of available resources.
TASK 4
P6) Devise a plan for corporate event along with principals of planning and promotion
It is stated that Seven events London is going to organize an event Foodie Flavours in
which they are introducing a new product. For this purpose, managers are required to prepare
a well structured and appropriate plan which includes all the necessary information. It will
help to perfom predefined activities effectively in order to attain organizational goals.
Promotion is a significant part to prepare a plan. So, it is vital for manager to take all these
7

factors into consideration in order to successfully complete a plan and enhance in existing
brand image of organization in market. Different factors for a plan related to corporate event
are given as under:
Conceptualization of theme: It is the most important factor for an event manager to
prepare an attractive theme for event. It will help to grab the attention of visitors that will lead
company towards higher sales and profitability (Truong and Hall, 2017). Here, an attractive
theme such as “Eat and Repeat” has been determined by event manager of respective entity.
On the basis of this theme, they appeal to visitors to enjoy food and beverages on regular
basis. With this it is monitored that theme of organization is quiet attractive thus able to drive
positive outcomes.
Set preliminary budget: Finance is required to undertake each and every activity of
event. Without availability of necessary funds, it is not possible to perform predefined task in
better way. For this, managers of Seven event London prepare a complete budget including
all the expenses. It provides them a fair idea about cost that will incurred during overall event
and profit that they will able to earn through event. With this, they are able to undertake
effective techniques to cut down cost and ensure adequate profit margin.
Meetings with venue owners and vendors:
Here, Seven events London is executing contract with vendors in order to get
necessary resources and maintain better relationships at market place. It is essential for
organization to get in touch with vendors and venue owners in regular basis to implement
different activities related to events in an efficient manner (Yakovleva, 2017).
Identify right services for potential guest: It is significant for managers of Seven
events London to identify needs and requirements of guest in an effective way. It will help to
provide customized services to customers that will lead company towards higher slaes and
profitability.
Principles for planning:
 It is required by manager of Seven event London to plan all the necessary activities in
an efficient way to attain predefined objectives.
 In addition, manager needs to have proper knowledge regarding needs and
requirements of audience so that they can provide them services accordingly.
Principal for promotion:
 Here, seven events London can make appropriate use of social media marketing
techniques to promote services at online platforms.
8

 It is suggested that managers need to emphasis to meet with requirements of
customers so that they can achieve higher satisfaction level of customers.
P7) Discuss the process for planning and promotion of a corporate event
Planning
In-depth planning: It is a process to prepare effective plans with the help of detailed
market study and analysis. It is monitored that detailed planning is done by considering each
and every fact that will affect plan (Yu, 2020). With this, managers are able to perform
different activities in a systematic way that will reduce down future uncertainties and their
impact over organization.
Data of audience: Here, data is collected from customers regarding their needs and
requirements. It is essential to gather information related to the guest who are going to attend
the event.
Promotion:
Strive for repeat business: It is a crucial principal associated with launch of a new
product. Here, Seven events London is required to identify their current customer base so that
they can prepare effective strategies to retain old customers for longer run. It is monitored
that retaining existing customers is more important than attracting new buyers. It not only
reduces promotional cost but also provides positive outcomes to organization. Respective
company is working on this concept that will provide higher competitive edge to them in
market. So, this concept will help to earn substantial amount of sales and profit margin.
Adopt online resources: It is analyzed that online tools and applications play a
significant role in enhancing presence of company in market. There are ample of online
techniques such as social media marketing, SEO and more are used by managers in order to
promote products and services at wide level. In current business world, digital techniques
play a crucial role in promotion and advertisement of products at wide level. There are
different platforms such as Face book, Instragram, You tube are present by which products
and services can be promoted in significant manner. It is analyzed that nowadays ample of
people are using such applications so it is easy for business owners to promote their products.
In context of Seven event management managers use ample of online techniques such as
social media, websites and more to grab the attention of large number of audience.
9

CONCLUSION
From above discussion, it is summarized that events play a crucial role in business
world to strengthen presence of company in market. It helps to gather several people at same
place at same time that is crucial to attain predefined objectives. There are different events
such as seminars, conferences, product launch, trade shows and more are organized to meet
with different purpose. In addition, feasibility study is crucial to undertake in order to conduct
a business event in an efficient manner. It includes study of different areas such as finance,
risk, resources and more. It can be concluded that there is a proper plan including budget,
target audience is also vital for an effective corporate event. Moreover, promotion and
planning are two important aspects of a corporate event plan and help in gaining positive
outcomes.
10

REFRENCES
Books and Journals
Abratt, R. and Mingione, M., 2017. Corporate identity, strategy and change. Journal of Brand
Management, 24(2), pp.129-139.
Agha, M., Pham, M.D.M. and Yu, J., 2020. Management Connectedness and Corporate
Investment. In Asian Finance Association (AsianFA) 2018 Conference, Journal of
Banking and Finance, Forthcoming.
Argenti, J., 2018. Corporate planning: a practical guide. Routledge.
Barik, P. and Pandey, B.B., 2016. The Key Role of Human Resource Management in
Corporate Social Responsibility (Environmental Protection) in Chhattisgarh
State. Asian Journal of Management, 7(3), pp.201-206.
Euchner, J., 2016. Emerging models for corporate innovation: Insights from the IRI 2015
strategy forum. Research-Technology Management, 59(1), pp.56-60.
Inya, P., Psaros, J. and Seamer, M., 2018. The relevance of western corporate governance in
mitigating management misconduct in Thailand. Emerging Markets Finance and
Trade, 54(6), pp.1425-1441.
Mamun, M.A. and Shaikh, J.M., 2018. Reinventing Strategic Corporate Social
Responsibility. Journal of Economic & Management Perspectives, 12(2), pp.499-512.
Odriozola, M.D. and Baraibar‐Diez, E., 2017. Is corporate reputation associated with quality
of CSR reporting? Evidence from Spain. Corporate Social Responsibility and
Environmental Management, 24(2), pp.121-132.
Rylov, D.V., Shkurkin, D.V. and Borisova, A.A., 2016. Estimation of the probability of
default of corporate borrowers. International Journal of Economics and Financial
Issues, 6(1S).
Truong, V.D. and Hall, C.M., 2017. Corporate social marketing in tourism: to sleep or not to
sleep with the enemy?. Journal of Sustainable Tourism, 25(7), pp.884-902.
Yakovleva, N., 2017. Corporate social responsibility in the mining industries. Routledge.
Yu, H.C., 2020. Corporate philanthropic giving and sustainable development. Journal of
Management Development.
11

12

13

14

15