Business Event Management Report

This report delves into the intricacies of business event management, covering essential topics such as marketing strategies, the importance of sponsorship, and methods for evaluating event success. It emphasizes the role of innovative marketing techniques and the significance of partnerships in enhancing brand visibility and customer engagement. The report also discusses the evaluation process as a critical component for assessing the effectiveness of business events and making informed decisions for future planning.

Running head: BUSINESS EVENT MANAGEMENT
BUSINESS EVENT MANAGEMENT
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TABLE OF CONTENT
INTRODUCTION...........................................................................................................................2
TOPIC 6: MARKETING OF BUSINESS EVENTS......................................................................2
How business events are marketed in modern world and what is the role of business events in
destination marketing?.................................................................................................................2
What are the 4Ps of marketing and how are they related to marketing of business events?.......4
TOPIC 7: SPONSORING AND PARTNERSHIP OF BUSINESS EVENTS................................6
What is the importance of sponsorship?......................................................................................6
How can sponsorship and partnership be compared?..................................................................7
Topic 8: MONITORING AND EVALUATION OF BUSINESS EVENTS..................................9
What is meant by evaluation in planning cycle?..........................................................................9
Why is evaluation important?....................................................................................................10
What are the methods of evaluation?.........................................................................................11
REFERNCE...................................................................................................................................13

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INTRODUCTION
Event marketing is the process of using a presentation, exhibition or visual display to
promote a product and service. The marketing of events can take place both online and offline
and the event can be hosted or sponsored. Inbound and outbound marketing techniques play a
pivotal role in promotion of business events.
TOPIC 6: MARKETING OF BUSINESS EVENTS
How business events are marketed in modern world and what is the role of business events
in destination marketing?
Event marketing is the process of using a presentation, exhibition or visual display to
promote a product and service. The marketing of events can take place both online and offline
and the event can be hosted or sponsored. Inbound and outbound marketing techniques play a
pivotal role in promotion of business events. Business events are marketed to build brand image,
develop public relation, generate goodwill and earn trust of potential customers. Business events
can be marketed by applying contemporary tools of marketing. Innovation and creativity is of
paramount importance in marketing of business events. Experimental marketing plays a vital role
in marketing of business events (Jones, 2014). Customers needs and preference changes
continuously and can be widely different from one another. Companies try to make business
events by engaging directly with customers and providing them one to one services. Thus
customized marketing and tailor-made marketing plays a vital role in marketing of business
events. The products of a company can be introduced in a business event by interacting directly
with customers and creating Customer Perceived Value in the minds of customer. The brand

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image of a company can be enhanced during business events. Technological innovation and its
implementation is of paramount importance in marketing of business events. Thus business
events should be tracked by employing GPS and real time software. Transformative technology
like 3-D technology, augmented reality and projections play a vital role in marketing of business
events (Hallak et al 2016). Content marketing, digital marketing tools and use of social media
platform play a vital role in marketing of business events. The company can get immediate and
direct customer base for the events by using social media platform and inviting customers for the
event. Popular social networking site like Twitter and Facebook can play an important role in
marketing of events. A prize, premium or direct reward can be introduced to customers who will
attend the business event. Hiring of experts from the industry can be important for proper
marketing of a business event (Beard & Russ, 2017).
Destination marketing is a type of marketing that is used to market a region, country, city
or town to enhance the number of visitors of the place. Business events can be related with
destination marketing as these events can increase the awareness about a place. For destination
marketing it is important to study the customers, competitors and conducting online events which
increases awareness about a particular destination can play an important role in the marketing of
business events (Buning & Gibson, 2016). Social media platforms, videos and photos and
recommendations from individuals who have already visited the place play an important role in
destination marketing. Business events play a vital role in destination marketing as these events
can be used to create awareness about the destination. Destination marketing is related to
marketing of experiences. Therefore event marketing can enhance the brand image of a particular
destination and a huge customer base can be generated by implementing modern and innovative
tools of destination marketing (Mallen & Adams, 2017).

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What are the 4Ps of marketing and how are they related to marketing of business events?
The 4Ps of marketing are products, price, place and promotion
Product- The product of a company can be tangential or non-tangential like a service.
Anything can be marketed like a product, service, experience or an idea. A company should have
a strong product line. The company can enhance its product by introducing different layers of
product like core product which is the basic product of the company. The company can enhance
its product by adding more features to the product or improving the quality of the product, thus
offering customers an augmented product. Companies should constantly invest in research and
development to build a strong product. The competitor’s product profile should also be studied
and the constant innovative technologies should be upgraded in product of a company. The
product line can be developed well by the company by introducing profitable product lines and
pruning product lines by removing non-profitable products. Product diversification helps a
company to be more profitable and have an umbrella of products under one popular brand name
or different brand names for each product line.
Business events play a vital role in marketing the product of a company. Business events
can introduce a product of a company to the customer and helps in building a strong image of the
product in minds of customers (Kwiatkowski, 2016).
Price- Proper Pricing of a product is of paramount importance. Different pricing
strategies can be introduced depending on the product life cycle which is introduction, growth,
maturity and decline. The pricing of the products can be done using market skimming or
marketing penetration pricing strategy. Market skimming pricing strategy is used when the
business wants to introduce its product or service in the market at a premium price. Market

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penetration strategy is used when business wants to penetrate into the market by gaining a huge
customer base and thereby introducing the product at a lower price in the market. Competitive
pricing strategy is used when a product is priced considering the price of the product of the
customer
Business events can play a vital role in introducing the price of a product in the market.
Customers can be willing to pay a premium price if they like the product in the business event.
Place- The place is the geographic region where products and service of a company will
be available. Organizing business events at popular places play a vital role for marketing of a
product or service of a company.
Promotion – Promotion plays an important role in marketing. Promotion can use different
mediums like above the line promotional mediums like television and radio to reach the mass
market. Below the line promotional events like in-store promotional events can also be
conducted.
Business events play an important role in promotion. These events help in gaining
customer trust, loyalty and perceived value. A strong brand image can be created in business
events which helps the company in promoting its products and services (Rojek, 2014).

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TOPIC 7: SPONSORING AND PARTNERSHIP OF BUSINESS EVENTS
What is the importance of sponsorship?
Sponsoring of business events is of paramount importance as sponsorship helps in
funding of business events and enhances the credibility of the business event. It is very important
for an organization to sponsor an event where the image of the business is in alignment with the
event. Organizers of business events provide a sponsor detailed idea about the set of audience
which will be targeted by the business, the coverage plan of the media and the obligation of a
sponsor. Sponsorship of business events can help a sponsor to build a strong network with top
decision makers of the industry, top delegates of the government as well as customers.
Sponsorship is an effective tool to build brand image and develop a good relationship with
public. Sponsorship of an event is undertaken not only by large multinational companies but
small and medium sized business organizations also actively participate in business events. The
management of relationship with customers plays a vital role for business. It can be noted that
gaining a new customer can be very costly for a business and therefore business should have a
strong base of loyal customers. Loyal customers make repeat purchases and sponsoring a
business event can create goodwill for the business in minds of loyal customers. Also
sponsorship of business events can help in introducing the brand of the company to new
customers.
Sponsoring an event can help a company not only by showcasing its brand logo but the
brand of the company will be promoted and visible to a large number of target audiences in
different stages of the event. Sponsoring a business event can require outflow of cash but in the
long run sponsoring a business effect will enhance profitability of the company and will have an

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impact on increasing the sales value of the company. Sponsorship of a business event will help a
company to gain exposure in the media and build relationship with reputed journalists and media
house. Sponsoring a business event can introduce positive experiences or emotions with a brand.
The type of event an organization would sponsor will convey a lot about the values and mission
of the company. The customers will associate the brand image of the company with the type of
event the company sponsors. Brand has different personality like ruggedness and this personality
of a brand of an organization should be aligned with the image the sponsored brand will portray
to customers. Sponsoring an event will enable a company to generate strong leads. Interaction
with event attendees will enable the sponsor to gain business leads and an organization can
expect to gain a good return on investment from the sponsorship of an event. A good connection
and relationship should also be established between the organizers of the event and the sponsor.
The organizers of the event should be able to provide good return on investment to the sponsor
and the event should serve the mutual interests of both the organizers and the sponsors
(McDonnell & Moir, 2013).
How can sponsorship and partnership be compared?
A sponsor is someone who pays for the event and invests in an event while a partner may
provide other services to an event. For instance, the sponsor of an event can be a business
organization that has invested in the event and wants its brand image to be enhanced during the
event. A partner can be a media house which will cover the entire event and will air the even in
its media channels or publicize the event. In return, the logo of the partner will also be visible in
the event. The Sponsor will expect a good return on its investment in the long run while a partner
will only be able to gain popularity and enhance its brand image through the event and will often
share the risks and earnings of the event. Both sponsors and partners are important for the

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organizers of the event. The organizers of the event should have an integrated corporate
marketing program to build alliance with the sponsors and the partners (Lewandowska, 2015).
The items that can be included in an event sponsorship package are space for exhibition,
showing of corporate video of the sponsor during the event, the logo of the sponsor should be
visible during both online and offline promotion of the event, a slot for speakers for sponsors
should be arranged in the Question and Answer Panel of the event .Complimentary tickets
should be provided to the sponsors and their product samples should be distributed in an event.
Networking should be allowed among the sponsors and interview of the sponsors should be
written or filmed during an event. A sponsor should also be satisfied with venue of event.
(Michelini, Iasevoli & Theodoraki, 2017).
An event partner generally will not have a financial exchange with the event. Event
partner will be able to promote the event in its website, insert flyer of the event in corporate
mailing, the event can be promoted in corporate newsletter by the partner of the event. The event
can be promoted by the partner in social media platforms like Facebook and Twitter, the
partnership of the event can be announced in media, press and trade magazines. Thus partners
help an event in its promotional activities and help the event to reach its target audience.
For success of an event both sponsors and partners are important. The monetary flow
from the sponsors will help in smooth conduction of the event while publicity and promotional
help from the partners will enable the event to gain a huge base of target audience. If the
organizers of an event can partner with reputed companies, then it can also gain credibility from
sponsors. Sponsors will be assured that the event will have huge market coverage if they have
strong partners and will be willing to invest in the event. The organizers of the event should

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ensure that both the interests of the sponsors and partners are taken care of so the organizers get
an opportunity to renew their contract with both the sponsors and partners when a repeat event is
held.
Topic 8: MONITORING AND EVALUATION OF BUSINESS EVENTS
What is meant by evaluation in planning cycle?
Evaluation is that component in the event management which reflects the ultimate
success of failure of the targeted program in terms of the outcome it produces. For any well-
established and running organization, evaluation helps bring out the efficacy in the
program that further demonstrates the achievement of the end results generated from the event.
Evaluation brings forth good information that further impacts the decision making of the
business organization that executed the program (Zikmund et al., 2013). The information are
derived from the data that in turn collected from the factual observations by recording and
manipulating it through arranging sorting storing and analyzing.
In technical term evaluation is the process that involves data collecting, gathering them
with proper techniques and making storage of it for analysis of different hypotheses or
observations made in market or real world scenario. The resulting information are then utilized
in determining the effectiveness and intensity of impact the organizer company has been able to
achieve through setting up the event for broader motives in terms of the activities it has planned.
Evaluation on a broader sense depicts how far the anticipated results of the program are able to
meet the objectives of the planning.

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Evaluation is part of assessment which makes inclusion of monitoring of certain key
aspects of the event. How far these aspects interpret into the success or failure of the events are
assessed by the end results of the evaluation process (Sylvia & Sylvia, 2012). The implication
evaluation process are not limited only in calculating the expected economic gain or losses from
any event in order to create an image but also the underlying feature decision making that it
promotes. Based on the concluding results and statements, the business makes its decision and
plans the growth model to generate higher revenue.
Why is evaluation important?
The reason behind undertaking evaluation process lies in the important role it plays in the
business planning and decision making. The allocation of resources, application of strategies and
execution of them are based on the core information and results that evaluation brings to the
event Organizer Company or enterprise. Evaluation process is important component because it
ensures whether the objectives of the core planning of the event have been met. The existence of
divergence of the results from the targeted plans and expected outcomes help to detect the lags
and insufficiency of the program (Rogers & Davidson, 2015). It is useful in order to take
necessary action to meet the lag and promote the welfare as have been motivated by the
organization. To identify success and measure the quotient evaluation helps immensely. The
positivity or negativity of the event that has been exerted on the layman can be analyzed well
from the results obtain din the evaluation in form the feedback and general impact it creates
among people. The further development of any organization is based on the information and
facts derived from the evaluation. So it usually helps in setting the growth trajectory of the
company. Contribution to further security regarding funding and development of EIS is taken
care by the evaluation with making provision of the evidences of the beneficial impacts EIS have

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on the business functioning of the organization (Getz & Page, 2016). One of the important
reasons of conducting evaluation is to identify the quality of staffs of the organization in order to
meet the long term goals of it. It also posits whether training should be conducted to the staffs to
strengthen their service quality and increasing the reputation of the organization as whole by
emitting expected and higher outcomes. Evaluation also helps in gaining the support of the
managers that are there to take of the institutional requirements. Driving the guidance the future
plans, creating and providing information to stakeholders, developing guidelines regarding
planning and growth, strategy devising and positioning the event in relation to the current global
market performance aspect are all the roles that evaluation process single handedly provide to the
organization in its effective functioning.
What are the methods of evaluation?
This part discusses the important methods that need to be adopted in order to produce
good evaluation outcome. For nay types of evaluation process conduced, one general method
irrespective of the context is to collect feedbacks of the event. The qualitative as well as
quantitative feedback process extracts much of the insight that the vent planning designed in the
core (Sekaran & Bougie, 2016). The feedback process can primarily focus on the economic
impact of the event on mass as it has implication on the marketing of the brand or organization.
This is essential component to ascertain future growth in the business. Advertising and publicity
on social media as well as on the electronic media are major part of collecting feedback on mass
level. The excitement and enjoyment achieved by the visitors or audience if can be captured then
can generate great sources of feedback that helps in further evaluation process making easy and
deriving expected results.