Business Practice Analysis: Farewell Party Event Report BSS005-1

This report provides a comprehensive analysis of the business practices involved in organizing a farewell party event at the Metro Bar, Luton Campus, for the University of Bedfordshire. It delves into key aspects such as the marketing mix, including product, price, place, and promotion strategies used to attract attendees. The report also examines the human resource requirements, outlining the necessary staff roles and responsibilities for event management, catering, marketing, and cleaning. Furthermore, it details the costs associated with running the event, differentiating between fixed and variable charges, and calculates the break-even point to ensure financial viability. The report utilizes various references to support its analysis, offering a practical understanding of event planning and execution within a business context.

Business Practice Explored
BSS005-1

Table of Contents
MAIN BODY...................................................................................................................................3
Marketing mix..............................................................................................................................3
Human resource requirements ....................................................................................................5
Costs of running the event...........................................................................................................7
REFERENCES................................................................................................................................1

INTRODUCTION
Business practice refers to the tactic or conduct of business to attain the business objectives. This
is the way or the manner in which practices are implemented or attempted in the most cost
effective way. Every organization has certain set and predetermined rules for business practice
which ensures that its employees are effective with their work and must abide by all the
applicable laws (Kingsnorth, 2019). This report covers the depth of understanding about the
Farewell Party Event which is been organized at the Metro Bar, Luton Campus in the University
of Bedfordshire. Report provides the good understanding about certain topics that include
marketing mix, required human resources and finance and the cost involved for the organizing
this event.
MAIN BODY
Marketing mix
Marketing mix is a tool used to develop an effective marketing campaign. Marketing is
an improve the functional activity that support the organisation to cherish the overall operations
of organisation. IT involve product, price, place, promotion and other such factors that company
needed to cope up with in against to cherish the busi9ess objectives.
Product: The event in Metro Bar is the main product here. The event is a farewell party of the
students who are pass out this year. The main attraction of the party is the key factor to attain the
farewell party (Key and Czaplewski, 2017). It includes all ancillary activities that occurs at party
and may be after party including the pre-event media days and event like contest happen in party
on website and social media, while the event day registration process, food and beverages, gifts
and giveaway are conducted at party. Post event parties and awards and recognition of the best
student of the year. To make it success events is focused on the groups are willing to pay the
price for this event.
Price: It is the most important component of marketing mix. It helps in determining how much
must be charged for the particular product or service so that the desired level of profit can be
achieved. For this there are several strategies that has been followed like cost-plus pricing,
competitive pricing and value based pricing. The price must be decided by taking into
consideration the strategy practices by other players in the same industry. Here we are planning
an event of farewell party where we have to decide upon per member charges. By looking at the

price list of Metro Bar the per member charges comes to 20 pounds per member including foods,
snacks, drinks and DJ. The bundle pricing strategy has been adopted where only a single value is
being charged from visitors for a variety of services offered during the event. This strategy has
been adopted in order to arrive at a single value that represents the lowest value for a variety of
products and services offered.
Promotion: It refers to that component of marketing mix which helps in communicating target
audience about certain product or service. This helps in informing the target in a more persuasive
manner so that the customer base can be enhanced. Here we will be incorporating this element of
marketing mix for informing students about the Farewell party event which will be organised in
the Metro bar, Luton Campus in the university of Bedfordshire. Various sources used in
promoting the event are as follows:
 Email marketing: By sending mails to our students regarding the farewell party, students
can be attracted towards the event.
 Prestigious venue: The venue has been selected by keeping in mind the expected level of
prestige of the students (Key and Czaplewski, 2017).
 Website marketing: The information related to the event has been posted also on the
website of the college. This will be done in a much attractive manner like through
designing eye-catchy posters, which would be helpful in attracting large number of
students.
 Registration site: A well designed site has been developed for registering for the event.
This will create popularity about the event and students will be urged for the event
enrolment.
 Printed media: The templates stating about the event will be distributed to the students
along with notice being posted on the notice board of the college (Park and Park, 2017).
Notice board is the most important source of informing students about the event as almost
every day some important notice has been present on the notice board, so along with that
notice, the students can be noticed about Farewell party event in the best way.
All this promotional tools stated above will be utilised for communicating students about the
farewell party event so that large number of students can be gathered for the event. This will be
helpful in making the event successful and inspiring one (Chaffey and Smith, 2017). Nowadays
digital marketing tool is being popularly used for marketing events and other products and

services and because of this reason only several digital marketing tools like registration site,
website posting and email marketing has been utilised here, as the present generation has become
more digitalised.
Place: Party is at Metro Bar is the main venue where the party occurred for the students, place
help to attain the maximum of the crowed for pre and post event activities occurred by the team.
To meet the maximum of it, management should suit for students like cocktail parties, media
days, conference news to reach more students for the party (Kingsnorth, 2019). While students
also see the location that are considered by student to reach at party, traffic at place and the
parking space of the event. The best location of logistic is by selecting the best location that are
easy to reach and suite in budgets of the students pockets.
Human resource requirements
The human resource are the group people that have activities related to finding, screening
the individual, recruit them and train them to perform the duty that will assign to them. The
human resource help any university to take its changes according to the need of environment in
which the business is running. They are also responsible to provide adequate benefits and recruit
and many more activities in development of group of people (Holcombe, 2019). Luton Campus
university is needed its human resource to organize a farewell party for its students at the time of
ending session.
Staff required for farewell party
Basically this party are given to those people who are leaving the university so the staff who is
conducting this must have knowledge regarding the reason of leaving so that they can make
arrangement in the party accordingly (Debreceny and et. al., 2020). There is requirement of staff
to organize a farewell party that are:
Event Management staff : As the party for student of university is conduct on a wide scale a big
number of students and some special guest are invited for this so there is requirement of Event
management team so that all the activities that will performed in this are organized perfectly.
They make arrangement of setting, performances, Anchoring also management the other people
involve in this party. Manager is required from the initial stage of business operations to the end
time of delivering the serves. This is the professionals that needed to address all the respective
services in order to achieve the bets level of profitability against the business operations

entertained by the organisation. Event management required at the initial stage when the event is
stated and also till the end when the entire event get finish. They needed to operate every single
role and responsibility which organisation is seeking to address in order to meet the various
objectives behind channelising the event management services.
Catering : The farewell party for student also involve launch or dinner so to serve the starters and
main course the catering peoples are needed so that all the invited students and other peoples can
enjoy the party. They will also serve the drinks and water to the students and it will let the party
going smoothly. Catering is among the significant part of the event management service. This is
directly associated with the food part of event management organisation. They also needed top
meet the responsibilities from the initial time when the entire event get start and also they
emended to address their responsibilities till the time the event do not get finishes. They carry
equal involvement in the pre event time and also in the post event time when the vent get
finishes.
Marketing staff : As the farewell party is organized for all the student who are going to pass the
section and getting their degrees, so they all have to be aware regarding the farewell party. The
marketing team will do their promotional work to the targeted students and other peoples who
are going to come on that date (Ponsford and et. al., 2019). If they don't know about the party
than they will miss it so, marketing staff make awareness in the student to come for the party.
The marketing staff is working for the party before the Party and their work is also ended when
the date come closer. Marketing staff get involve in the pre time when the event get to start and
also the prior period of the time when the planning is conducted of the event and also they get
involvement in the post period of event when the entire event is conducted. Marketing staff pay
role in promoting the products and services offer by organisation as they needed to get involve in
cherishing the brad value of organisation. They needed to identified the suitable marketing and
promotion strategies which company can use so that all operations can get the proper popularity
inn the respective market.
Cleaning Staff : the party is being held on a huge scale and the people who are taking beverages
and food item they may not use the dustbin and expose the wastage so the cleaning staff will take
care of that and try to keep environment fresh by which all the student can get into the party
nicely. The cleaning staff work mostly after the end of the party because they have to clean the
place where the party has organized. Cleaning staff play the major role in the post event period.

They needed to be involved in cleaning every single functional activity post time the event get
conducted.
The above mentioned points related to the human resources which organisation needed to
have in order to conduct the event. All the human resources play the significant role in achieving
the success against the event conducted. They needed to become part of every single functional
activity that event required to get involve with in delivering the event management practice.
Costs of running the event
Fixed charges of the event include the following:
Hiring charges of the Metro bar = 645 pounds per night
Security guards for the event = 2 * 25 = 50 pounds
promoting team for pre- event promotion = 4 * 50 = 200 pounds
Cleaning and clearing charges = 20 pounds
Additional hours charges = 87 pounds
Charges of waitress service = 2 waitress * 2 * 23 = 92 pounds
DJ charges = 100 pounds
Total of fixed charges comes to around = 1200 pounds
Sales price or per member charges are fixed at = 20 pounds per member
Variable charges of food and snacks will be around = 12 pounds per member
Sales 20 * 200 = 4000
Less: Variable cost 12 * 200 = 2400
Contribution margin 1600
Less: Fixed charges (1200)
Profit 300
Break-even point will be achieved as follows:
Total Fixed cost / Contribution margin
Total Fixed charges = 1200
Contribution Margin per unit = 1600 / 200 = 8
Break-even point = 1200 / 8 = 150 members.

Break-Even point is a point where organisation can entertain all its cost. This is the point
in time where organisation get to recover all its cost that has incurred against the services deliver
by organisation. 150 units is the standard break even point company need3ed to address against
the operations channelises by organisation (Lohmann, 2020). This is the number of people
organisation needed to deliver its services so that overall cost incurred in delivering the services
can meet by organisation. Break even point must be achieved at the initial time of the operations
so that organisation and management can frame policies and strategies for addressing
profitability against the business operations channelises by the organisation. Beyond the reach
even point every single sale organisation could address will added to the profitability of the
organisation. This point organisation needed to entertain in order to contain the profitability and
meet all different objectives behind the business operations and functions entertained by the
organisation (SHROTRIY, 2019). 150 units is the point that organisation required to address
against the business operations channelises so that it can meet up the overall objectives behind
the business operations entertained by the organisation. In case of small businesses this number
of unit is not much which can be addressed and sale even in the initial, stage of the business
operations and belong this figure every sale organisation could address will favour the
organisation in the face of profit.
CONCLUSION
The following report above discuss in detail about the Farewell party event that is
organized for the students. It explains the various concepts that are involved while organizing
party in Metro Bar such as how marketing mix elements that product, price, place, promotion are
considered, how the human resources are to be managed as the bar only provides the capacity of
200 people which includes the management, students and staff and it discusses how the finances
are to be managed in the effective manner so that the cost of the event is managed in affordable
amount with compromising the quality of party or having the best party. Lastly, this individual
report justifies all the decisions taken for the happening of the best farewell party.

REFERENCES
Books and journals
Chaffey, D. and Smith, P. R., 2017. Digital marketing excellence: planning, optimizing and
integrating online marketing. Taylor & Francis.
Debreceny, R.S. And et. al., 2020. Knowledge and skills in complex assurance engagements:
The case of XBRL. Journal of Information Systems. 34(1). pp.21-45.
Holcombe, A., 2019. Farewell authors, hello contributors. Nature. 571(7763). pp.147-148.
Key, T. M. and Czaplewski, A. J., 2017. Upstream social marketing strategy: An integrated
marketing communications approach. Business Horizons, 60(3), pp.325-333.
Kingsnorth, S., 2019. Digital marketing strategy: an integrated approach to online marketing.
Kogan Page Publishers.
Lohmann, R. A., 2020. Break Even Analysis: A Tool for Budget Planning (Revised).
Park, S. B. and Park, K., 2017. Thematic trends in event management research. International
Journal of Contemporary Hospitality Management.
Ponsford, M., and et. al., 2019. Clozapine is associated with secondary antibody deficiency. The
British Journal of Psychiatry. 214(2). pp.83-89.
SHROTRIYA, V., 2019. Break Even Analysis–The Concept and It’s Utility.
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