Management and a Tourism Workforce

This document discusses the management and workforce in the tourism industry, including the cost analysis of organizing a health event. It also explores different pricing methods and justifies the chosen pricing strategy.

Running Head: MANAGEMENT AND A TOURISM WORKFORCE 0
Management and a Tourism
Workforce
(Student Name)

MANAGEMENT AND A TOURISM WORKFORCE 1
Table of Contents
Description of Event........................................................................................................................2
Cost of all element of activity..........................................................................................................2
Overall cost to the activity...............................................................................................................4
Price to the Client............................................................................................................................4
Justification of Analysis...............................................................................................................5
Pricing Method................................................................................................................................5
Conclusion.......................................................................................................................................6
References........................................................................................................................................7

MANAGEMENT AND A TOURISM WORKFORCE 2
Description of Event
In the recent scenario, the individuals of the giant metropolises such as London ace huge level of
pressure that is imminent from their exertion as well as lives. They majorly face issue in
managing stint as well as vigor to get the healthy nutrition as well as participate in other physical
activities that cause poor lifestyle as well as healthiness concerns such as diabetes, gain of weight
and so on (King and Church, 2015). It has been analyzed that more than 5% or million women
are suffering from diabetes worldwide. It forms prodigious influence on the heath of the mother
as well as youngster. Sots of the people smoke at the initial stage that made their body weak
from internal (Holt et al., 2019). Therefore, the event has been organized for such people who
want to life healthy life with healthy schedule. The key persistence of such event is to spread
awareness of the healthy lifestyle in the contemporary life. The key leitmotif of the event will be
“Special Day for Health” in which numerous undertakings related to health will be organized in
the event to augment the vigorous lifestyle of the individuals as well as make them away from
the disease such as disabilities (Kurby and Zacks, 2018). In the entire event, dissimilar suitability
facilities will be involved through the event which includes yoga, rambling, pedaling, running,
tai chi, jogging, as well as dance. Small session about the diabetes in which how to cure with
such disease wild be discussed with the attendee to make their life healthier in an effective
manner. The elements that will be required in the whole event to design that suit the theme are
catering, venue, speakers, props, audio visuals, entrainment speakers artists, sound, light with the
special effects and so on (Flores et al., 2016).
In the following part of the report there will be detailed analysis of the cost that will be occur in
the whole event effectively.
Cost of all element of activity
Location Cost
Site Rental fee £ 11,000.00

MANAGEMENT AND A TOURISM WORKFORCE 3
Event Licence £ 2,200.00
Projected Tips £ 2,200.00
Additional Labour £ 3,300.00
Total Location Cost £ 18,700.00
Lighting Cost
Lighting for Pictures or Video £ 440.00
Generator or Extension Board £ 990.00
Labour £ 3,300.00
Total Lighting Cost £ 4,730.00
Cost of Potential Food and Beverages
Catering or Food £ 22,000.00
Beverages or Juices £ 8,800.00
Equipment £ 4,400.00
Utensils £ 5,500.00

MANAGEMENT AND A TOURISM WORKFORCE 4
Staff £ 4,400.00
Health Permits £ 5,500.00
Miscellaneous Charges £ 7,700.00
Total Food and Beverages Cost £ 58,300.00
Entertainment Cost
Walkie-Talkie £ 2,200.00
Computer Interfaces £ 7,700.00
Cameras, Film, Recorders £ 8,800.00
Projector, Screen £ 3,300.00
Microphones £ 2,200.00
Music and talent £ 7,700.00
Sound System and Speakers £ 7,700.00
Transportation £ 4,400.00
Total Entertainment Cost £ 44,000.00

MANAGEMENT AND A TOURISM WORKFORCE 5
Auxiliary Material
Visiting or Business Cards £ 880.00
Brochures £ 1,100.00
Advertisement £ 3,300.00
Posters £ 990.00
Invitation Cards £ 1,100.00
Envelopes £ 2,200.00
Packets of Registration £ 3,300.00
Tickets £ 2,200.00
Total Auxiliary Material £ 15,070.00
Security
Private Security £ 2,200.00
Facility £ 880.00
Total Security Cost £ 3,080.00

MANAGEMENT AND A TOURISM WORKFORCE 6
Consideration of Trash Removal
Portable Restrooms £ 990.00
Dustbins and Disposable Service £ 550.00
Crew for Clean-up £ 990.00
Supplies £ 880.00
Miscellaneous £ 550.00
Total Trash Removal £ 3,960.00
Miscellaneous
Prizes £ 3,300.00
Menus £ 1,100.00
Sponsor Holders/ Name tags and Signs £ 1,100.00
Frames £ 880.00
Others £ 1,100.00
Total Miscellaneous Cost £ 7,480.00

MANAGEMENT AND A TOURISM WORKFORCE 7
Potential Rental Needs
Table and chair (Furniture) £ 3,300.00
Flooring or Carpeting £ 1,100.00
Tents and Props £ 2,200.00
Labour £ 5,500.00
Total Potential Rental Cost £ 12,100.00
Suppliers and Decoration
Plants and Flowers £ 330.00
Stage or Event Décor £ 4,400.00
Covers of Chairs £ 440.00
Props or Signs £ 2,200.00
Paper Supplies £ 880.00
Labour Charges £ 3,300.00
Total Suppliers and Decoration Cost £ 11,550.00

MANAGEMENT AND A TOURISM WORKFORCE 8
Overall cost to the activity
Elements Cost
Total Location Cost £ 18,700.00
Total Lighting Cost £ 4,730.00
Total Food and Beverages Cost £ 58,300.00
Total Entertainment Cost £ 44,000.00
Total Auxiliary Material Cost £ 15,070.00
Total Security Cost £ 3,080.00
Total Trash Removal Cost £ 3,960.00
Total Miscellaneous Cost £ 7,480.00
Total Potential Rental Cost £ 12,100.00
Total Suppliers and Decoration Cost £ 11,550.00
Total Cost £ 178,970.00
Note:

MANAGEMENT AND A TOURISM WORKFORCE 9
Transportation provision
£
440.00
Transportation Cost
£
4,400.00
Entrance Fee
£
250.00
Price to the Client
Break even analysis
Calculation of break-even point
Per unit Total
Selling price (Entrance Fees) £ 250.00 £ 175,000.00
Less:
Variable cost £ 106.39 £ 74,470.00
Contribution (Sales - variable cost) £ 143.61 £ 100,530.00
Fixed cost £ 79,420.00
Break-even point (Fixed cost /
contribution) £ 553.01 £ 138,252.26

MANAGEMENT AND A TOURISM WORKFORCE 10
Profit (Sales - Break even sales) £ 36,747.74
Justification of Analysis
The break-even point is 553 that represent that the event can cover its cost if 550 people attend
the event. After that it can earn sufficient profit that can be used to invest in some other event or
some other social welfare activities. It show case that the price of the tickets is sufficiently
charged that can cover cost as well as also will give sufficient return to the event planner or
client in an efficient manner. It will motivate the client to adopt such strategy to earn maximum
number of income in an efficient and effective manner. Therefore, it will offer £250 as an
entrance fees to the consumers to cover cost.
The main reason for adopting such approach is due to the reason, the client cam able to earn
sufficient profit from the activities that is planning to be arrange in the event. It help the client to
cover its cost more efficiently and can able to target the consumers in an efficient manner due to
the reason, the price of the tickets are not that much high that can be easily affordable for the
people who are seeking for the healthy life. With such approach, the client can able to earn profit
as well as can able to participate in the social activities in an efficient and effective manner.
Pricing Method
There are different types of pricing method that can be used by the client such as cost based,
demand based, competition based as well as other ricing method.
Cost based pricing: it is the technique in which certain proportion of the preferred revenue
limits is further to the rate of the creation to find out the ultimate price. Cost plus pricing method
is the modest approaches of decisive the value of the creation. In such technique a static
proportion that is also baptized as mark-up proportion of the entire rate is added to the overall
cost to fix the amount. Moreover, such method is also recognized as an average cost valuing
technique. Such method is mostly used by the manufacturing or service industry. The cost-plus

MANAGEMENT AND A TOURISM WORKFORCE 11
pricing will be benefited to the client that is the reason such method is adopted to analyze the
pricing (Töytäri, Rajala and Alejandro, 2015).
Demand based pricing: such method refer to the valuing technique in which the value of the
product is majorly confirmed rendering to the petition of the product in the market. If the
demand of the product is high in the market among consumers, then the company prefers to set
high price for the product to earn profits, whereas if the demand of the product is own, then the
price will be set at low amount to target maximum number of consumers in an efficient manner
(Sharma, Bhakar and Tiwari, 2017).
Competitive based pricing: it refer to the technique in which the company reflects the values of
the rival’s products to set the price of its individual product it is happen due to the reason of
competing the competitors in an efficient manner. It may set near to the price of the competitors
that has been set for the particular product (Fisher, Gallino and Li, 2017).
In the event, cost based pricing strategy is being adopted in which the total cost is expected as
200 per person and it is expected that the client will earn 25% profit on every individual.
Therefore, through such method, the client will able to understand the amount that is required for
them to offer to the consumers that will make its event more successful. Therefore, the final price
that will be offer by client is £250 per person to cover the cost as well as to earn maximum
number of profit in an efficient and effective manner.
Conclusion
From the above analysis it can be concluded that the event that is planning to be arrange by the
client is one of the effective event that will attract maximum number of people due to the reason
they are switching to the healthy lifestyle. Such event will guide the people to live their life
healthy and effective. The price that will be offered by the client will be £250 that will help in
covering overall cost as well as can able to earn sufficient profit from the event

MANAGEMENT AND A TOURISM WORKFORCE 12
References
Fisher, M., Gallino, S. and Li, J. (2017) Competition-based dynamic pricing in online retailing:
A methodology validated with field experiments. Management Science, 64(6), pp.2496-2514.
Flores, G.P., Peace, B., Carnes, T.C., Baumgartner, S.L., Buffkin Jr, D.E., Euliano, N.R. and
Smith, L.N., (2016) Performance, reliability, usability, and safety of the ID-Cap system for
ingestion event monitoring in healthy volunteers: a pilot study. Innovations in clinical
neuroscience, 13(9-10), p.12.
Holt, R.I., Gossage-Worrall, R., Hind, D., Bradburn, M.J., McCrone, P., Morris, T., Edwardson,
C., Barnard, K., Carey, M.E., Davies, M.J. and Dickens, C.M. (2019) Structured lifestyle
education for people with schizophrenia, schizoaffective disorder and first-episode psychosis
(STEPWISE): randomised controlled trial. The British Journal of Psychiatry, 214(2), pp.63-73.
King, K. and Church, A. (2015) Questioning policy, youth participation and lifestyle
sports. Leisure studies, 34(3), pp.282-302.
Kurby, C.A. and Zacks, J.M. (2018) Preserved neural event segmentation in healthy older
adults. Psychology and aging, 33(2), p.232.
Sharma, A., Bhakar, R. and Tiwari, H.P. (2017) Demand response-based enhanced LRIC pricing
framework. IET Renewable Power Generation, 11(13), pp.1723-1730.
Töytäri, P., Rajala, R. and Alejandro, T.B. (2015) Organizational and institutional barriers to
value-based pricing in industrial relationships. Industrial Marketing Management, 47, pp.53-64.