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MARKET ANALYSIS AND STRATAGE

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Events Operations (BHO 2000)

   

Added on  2020-02-19

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This analysis is appropriate because it helps to determine the target market of the individuals who are targeted to attend the event and the consideration of the necessities that this group of people might have, in order to address those necessities prior to the day when the event takes place. Research about the previous events helps to determine the willingness of the targeted audience to attend the event, an aspect that can help in the estimation of the expected population to attend from the available market of the region.

MARKET ANALYSIS AND STRATAGE

   

Events Operations (BHO 2000)

   Added on 2020-02-19

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1MARKET ANALYSIS AND STRATEGYStudent’s nameSubjectDate
MARKET ANALYSIS AND STRATAGE_1
2For all major events that are organized to take place in a region, there are certain essential forms of analysis and study that are considered very essential. To begin with, the analysis and creation of a budget, which helps the organizers to understand the cost that they will incur in the process of establishing the event are of paramount importance. The other important section of consideration in this process is the section of assessing and analyzing themarket and the strategy of the event. This analysis is appropriate because it helps to determine the target market of the individuals who are targeted to attend the event and the consideration of the necessities that this group of people might have, in order to address thosenecessities prior to the day when the event takes place. The strategy of the event also helps in guiding how the event preparation process will take place. This section of the paper provides a clear market analysis for the event and the event’s strategy (Allen, 2009).The market of the event. As explained earlier, the Rhyme and Reason Music festival event is a music festival event which is being organized in Australia, suitable for all ages. The main purpose of the event is to maintain the culture, appreciate art and contribute towards charity. The first important aspect to consider with regard to its target market is that the event is organized being an all age event. This aspect makes the event suitable and appropriate for all individuals interested thus increasing the targeted market significantly. Music and culture are two major aspects that people in Australia values. When music shows and events are held, a large number of people make the decision to attend those events, even when they are considered to be suitable for a certain age group. Since the event is being held in Melbourne Exhibition Centre in Australia, people from Australia will provide the largest market share. Research on other similar themed events that have taken place in the region reveals that people from Australia are friendly and willing to attend events that involve music and art (Bowdin, 2011).
MARKET ANALYSIS AND STRATAGE_2

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