Financial Decision Making for Creative Projects and Event
Added on 2020-06-04
9 Pages2106 Words26 Views
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Financial Decision Makingfor Creative Projects andEvents
TABLE OF CONTENTSINTRODUCTION...........................................................................................................................1Outcomes of the market research................................................................................................1Funding for event........................................................................................................................1Discussion over relevant income streams...................................................................................2Illustration on proposed event.....................................................................................................3Pricing strategy............................................................................................................................5Recommendation.........................................................................................................................6CONCLUSION................................................................................................................................6REFERENCES................................................................................................................................7
INTRODUCTIONATPI is offering the best event management services which organises the events forcorporations and for sports tournaments. Currently the firm is being engaged in organising thecar racing sports' event in London. However, there will be influence of various sponsors andcorporations which will help in managing the events. The report will help managers in analysingthe requirement of resources for such event such as arrangements, funds, numbers of employees,sponsors as well as the participants. To organise the profitable event there is need to have properplanning and costs estimation which help in deciding the level of requirements. Moreover, thereport will present an accurate analysis over the forecasted revenue and costs will incur in suchsport event.Outcomes of the market researchIn relation with the online survey made by the professionals of ATPI it has beendetermined that there are positive responses towards the car racing sports. Thus, the method ofconducting the online market research which was on the basis of various reasons such as it willrequire less time, cost efficient as well as wider area of analysis will be made. There will berecord of large reviews from mass audience (Amornkitvikai and Harvie, 2018). On the otherside, it will be beneficial for ATPI to have favourable marketing of the event they are going toorganise. Additionally, the survey consist of various questionnaires which were made over massmedia. Thus, the organisation had received positive outcomes from that survey and whichindicates that it will be profitable and fruitful for the growth of entity.Funding for eventATPI is planning for car racing event on which there will be requirement of appropriateamount of funds which will help in succeeding the satisfactory event. To gatherer the sufficientcapital resources the invitation need to be proposed among various sponsors, stakeholders orinvestors of the business (Ferrando and Lekpek, 2018). However, there are various big MNCswhich have the collaboration and partnership in various events such as Heineken, Microsoft andHyundai. The investments will be made on the basis of the area of operations, numbers of staffand the audience which will take the memorable experience of the racing game. Thus, the propermarketing will help in attracting the large consumers and it will evaluate the profitability of thebusiness. Therefore, in relation with the funds gathered by the firm from its sponsors or investorsit can be seen as below listed table:1
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