End of Year Party for Business School L4: Planning, Marketing Mix

This report details the planning for an end-of-year party for level 4 business school students at the University of Bedfordshire's Luton Campus, focusing on the Metro Bar as the venue. It outlines the event's objectives, potential dates in April 2020, and justifies the estimated 170 student attendance. The report employs the marketing mix (product, price, place, promotion) to develop a marketing strategy, detailing entertainment activities, ticket pricing, venue selection, and promotional methods. It also specifies human resources requirements for pre-party, during-party, and post-party activities, assigning responsibilities to various staff members. Furthermore, the report presents a financial plan, including budget allocation and break-even analysis, to ensure the event's financial viability. The goal is to provide students with a relaxing and enjoyable experience while showcasing their talents through various activities.

Business Practice
Explored
1

CONTENTS
Contents...........................................................................................................................................2
INTRODUCTION...........................................................................................................................3
MAIN BODY..................................................................................................................................3
Overview of event........................................................................................................................3
Possible dates for the party..........................................................................................................3
Justification for the number of students who will attend the party..............................................4
Marketing strategy with the help of Marketing mix....................................................................4
Human resources requirement for the party................................................................................5
Financial details for the party......................................................................................................9
CONCLUSION..............................................................................................................................11
REFERENCES..............................................................................................................................12
2

INTRODUCTION
Event management involve set of activities or actions that the manager of an event taken into
consideration for ensuring that each and every activity that are decided prior to it get
accomplished effectively with best possible outcome. In such practice it become crucial for the
manager to creates a plan before performing action as it will help in getting an idea regarding the
set of actions to be performed for executing the party effectively. Addition it will also support in
getting an idea regarding the number of resources, equipment, fund or human resource required
for a particular event (Raj, Walters and Rashid, 2017). The current report is based on the coasted
plan which is created for organising a end of year party for the level 4 students within the
business school. For organising this event it is decided to book the Metro Bar, Luton Campus
which is at University of Bedfordshire as it holds the capacity of attending 200 people at a time
which is relatively high. This report includes a detailed description regarding the date for the
party, justification about the number of students who attend party, marketing strategy using
marketing mix and a description regarding the number of human resources required along with
their roles and responsibility. At last it contains a budget plan as well as break even analysis for
this event.
MAIN BODY
Overview of event
It has been decided by the business college to organise an event for the students of level 4
which is a “end of year party” in order to provide them an occasion for enjoying with their
friends and relax from their stress of study (Lambe, 2014). Hence for this it has been decided to
organise this party at the Metro Bar, Luton Campus, University of Bedfordshire. This event not
only support in entertaining and relaxing the students from their stress but is also provide them a
chance to showcase their talent by participating in several curriculum activities. It will provide
them a refreshing moment where they can enjoy and be able to perform well in the near future.
Possible dates for the party
This event will be organised in the month of April between the date that is 15-04-2020 to
20-04-2020. This will be so because at that time students get free from their assignment as well
as submission of work so they can enjoy it with more relaxation.
3

Justification for the number of students who will attend the party
There will be around 170 students that can attend this year end party this is so because
the majority of students are waiting for this party and it will provide them an evening where they
can enjoy without any stress. So maximum number of students will try to attend the party as they
get a chance to enjoy with their friends (Berners, 2018). The estimation is this because the passes
are being provided to the students with the help of which they get entry to the party and for this
around 100 students had already enquired about the event which give an estimation regarding the
people that may attend the party.
Marketing strategy with the help of Marketing mix
For the success of this party, promotion practices are required to perform so that mor and
more people can be invited to the party by presenting them with all the necessary information as
well as experience they will get. So that more and more people can be called to purchase the
passes for the party (Gerritsen and van Olderen, 2014). This will help in getting an idea
regarding number of people will attend the party and at the same time support in recovering the
cost that get invested in organising the party. Hence, for effective execution of event marketing
mix is adopted that support in combining and coordinating with all the essential factors of
marketing. These are explained below:
Product: - Under this the service is party which is being organised for the level 4
students, which involve range of activities that support in entertaining the students who attend
the event. These entertaining activities are being categorise so that students get information
regarding each and every activity and be able to get an idea regarding the kind of enjoyment they
will experience by attending the party. This mainly includes, fashion show, dance performance,
games, DJ party, dinner etc. these all are the full night packed activities that will continue for
entertainment of students.
Price: - Under this party the price is basically belongs to the participation charges as well
as entry fess that students have to pay in order to attend the party. This is mainly charged from
the students so that the fund which is being invested from the event can be recovered through
these charges (Reic, 2016) . Under this the entry fees for the students would be a pound per
ticket on the other hand the students that want to participate in the event they have to pay off 2
pound over their performance but their costume, prompts and other things required will be make
available to them so that they get ready to pay off this amount.
4

Place: - It refers to the point through which consumers or user would be able to get their
product or be able to avail services. In order to organise this end year party effectively a Metro
Bar is booked which is in Luton Campus at the University of Bedfordshire (Nugroho and Irena,
2017). The main reason behind deciding this place is that it will be more convenient for students
to reach here and at the same time it has the capacity to cater around 200 people at a time which
is consider to be more suitable for this event.
Promotion: - For promoting this event, it has been decided that the posters will be
printed that will be placed at the notice board of the college and at the same time other main
locations within college so that each student passing through it can get idea about the party.
Other than this, it will also be promoted at the social media pages of the college, group of
students at social media sites as well as official web page of the college so that no body remain
unaware about the organising of event (Naumovska and Blazeska, 2016). Despite of all this the
invitation will also be send to the students for whom this event is being organised.
Human resources requirement for the party
In order to conduct this event that is “end of year” party for the level four student of
business school, it is required to formulate a team of skilled people who can support in
organising this party effectively without any kind of issues (Jiang and Schmader, 2014). There
are number of activities that would be performed throughout this event which require manpower
accordingly. So these activities are divided into two part i.e. pre party preparation, during part
and post party activities so that it become easier to differentiate the work of people and arrange
manpower according. Hence the activities involve in these stages along with people requirement
are mentioned below:
Activities No. of
Staff
Responsibilities
Pre party activities: -
Preparing budget 2  Finance staff will be responsible for analysing the
fund required for event.
 Comparing the requirement of fund with available
fund and perform estimation for each activity.
Hall decoration 8  Must understand the requirement for event and then
5

perform work accordingly to decorate room as per
theme.
 Ensure lighting must be done appropriately and
safely so that nobody get harmed during event
(Macbeth and Pitt, 2015) .
 All music system must get arranged in right manner.
 Tables must be well managed and properly
decorated.
 Flowers used for decoration must be fresh.
Arranging resources 3  Responsible for arranging all the musical
equipment’s such as mike, speakers, CD’s etc.
 Arranging items for decoration such lighting,
flowers, chair, tables etc.
 Ensuring that vehicles are available to make all the
resources get available to the hall on timely manner.
 Arranging fund for the event so that it become easier
to pay off all the bills on timely manner (Sadd, Fyall
and Wardrop, 2017).
 Dealing with caterer so that they would be available
at the venue before party event with all the required
equipment’s.
 Ensuring that all the staff required for performing
their task get present in hall so that activities can be
performed in scheduled time period.
 Arranging all the material or equipment required for
performing the promotional activities appropriately.
Promotional
practices
2  Responsible for preparing an appropriate
communicational and promotional plan which help
in determining the sources through which students
get information regarding it and how event will be
promoted.
6

 Responsible for providing right set of information to
the people who are interested for attending the event.
 Must ensure that party invitation get printed and
made available to the students a week before its
execution (Beech and Gilmore, 2015).
 Poster must be presented within college so students
get an idea regarding the party.
 Details must also be posted over the social media site
of college for promoting the event effectively.
Catering 8  Must deal with right caterers who are having good
team of workers who can cook and sever food or
beverages effectively.
 Have a check that all the utensils as well as stuff is
available prior to party so that refreshment can be
arranged.
 Responsible for ensuring that good number of
waiters are available in order to cater the audience.
 Responsible to have a check that whatever stuff they
are using must be fresh and work must be perform
while considering hygiene.
During event:
Entertainer 1  Responsible for hosting the event and handling the
stage for all the activities performed by the students.
 Remain responsible for arranging the sequences of
activities to be performed and at the same time
ensuring that every thing get accomplished within
the time provided for party.
Cook and Chef 3  Responsible for preparing food which is being deal
prior to the event.
 Ensure that food get prepared well as per the
available candidate in hall.
7

 Refreshment to be arrange before the arrival of
attendants so that with their welcomed it can be
served to them.
Security for event 2  Responsible for checking the identity as well as pass
passes of each and every candidates that are
mentioned in the list.
 Ensure that every thing get performed in safely
without any sort of dispute (Smith, 2015).
 Remain alert if any thing mishappens and handle
them effectively.
Parking
arrangement:
1  Ensure that space is available for the number of
audiences that are to be attending the party.
 Responsible for guiding people to park their vehicle
effectively for avoiding any kind of inconvenience.
 Must have a check that each vehicle must be parked
in parking area only.
 Ensure that accidental cases must be avoided.
Coordination 5  Coordinators are responsible for ensuring that each
and every action get performed as per planned.
 They are responsible for coordinating with the
participants so that they get all the promotes or
essentials for performing well.
 Responsible for ensuring that each individual present
in hall must get their refreshment.
 Coordinators are responsible for ensuring that each
equipment that are arranged before event must
perform effectively.
 Responsible to have a check that every staff have a
clarity in their mind regarding actions to be
performed and performing in similar manner.
Post event activities: -
8

Balancing budget: -  Under this the financial staff are responsible for
balancing the budget after execution of event by
matching all the expenses.
 Staff members are responsible for paying off all the
bills that are due after winding up the program.
Cleaning: - 3  These staff members are responsible for collecting
all the stuff used in party décor in order to return it
back to the decorators.
 Cleaning up all the tables, floor etc.
 Disposing all the waste material which is left behind
or wasted.
Engage in social
media: -
1  Posting up all the pictures related with event at the
official webpages and social media sites.
 Sharing the experience with follower.
Financial details for the party
The estimation as well as presentation of financial detail regarding an event is crucial as
it support in determining the fund which is actually required for this party so that it can presented
in front of college authority for arranging fund (Smith, 2015). For assuring that event get
organised and executed effectively without any kind of hurdle it is required that each activity
must be scheduled in advanced so that the budget can be prepare regarding the fund which is
required for executing each of them. This support in guiding the staff members regarding the
ways in which they must perform their work so that it can be performed in available fund. Other
than this after preparing budget the break-even point will also be analysed so that with the
arrangement as well as execution of event the college will not remain at loss. The financial
details are mentioned below:
Budget: -
Particulars Amount
Receipts
Getting funding from finance department 50000
Receipts from selling of tickets 40000
9

Total (A) 90000
Payments:
Entertainer 4000
Cook and Chef 16000
Security for event 5000
Cleaning 4000
Hall decoration 6000
Food and beverages 15000
Promotions 10000
Total (B) 60000
Closing balance (A - B) 30000
Break-even point: -
BEP it has been estimated that 200 tickets will be sold and cost of each will be around 200
pounds. Calculation of BEP is as follows:
BEP (in units) = Fixed cost / contribution per unit
= 41000 / 105
= 390.48 or 390 Tickets
In order to meet the point of BEP at least 390 tickets are required to be sold.
BEP (In amount) = Fixed cost / PV ratio
= 41000 / 52.5%
= 78095.24 or 78095
The no profit and no loss point require that the event should generate revenues of around
78095 pounds.
Calculations:
Fixed cost = Promotions + Cook and chefs + Food and beverage
= 10000 + 16000 + 15000
= 41000 pounds
Contribution per unit = Sales – Variable cost per unit
= 200 – 95
= 105
PV ratio = Contribution / sales * 100
10

= 105 / 200 * 100
= 52.5 %
CONCLUSION
From the above mentioned report, it can be summarised that for the success of an event it
remain crucial that all the activities must be pre planned so that a roadmap can be created over
which the activities can be performed. This support in performing each and every activity in
more effective as well as in sequential manner so that desired outcome can be extracted out of
efforts by avoiding any kind of wastage or error that result into increasing expenses of the event.
Other than this a success of event also depends upon its marketing so proper promotional
activities must also be performed so that right information can be delivered to the interested
people and at the same time attract them to attend for the same.
11

REFERENCES
Books & Journals
Beech, N. and Gilmore, C. eds., 2015. Organising Music. Cambridge University Press.
Berners, P., 2018. The Practical Guide to Managing Event Venues. Routledge.
Gerritsen, D. and van Olderen, R., 2014. Events as a strategic marketing tool. CABI.
Jiang, J. and Schmader, S.W., 2014. Event management education and professionalism: The
view from the trenches. Event Management, 18(1), pp.25-37.
Lambe, P., 2014. Organising knowledge: taxonomies, knowledge and organisational
effectiveness. Elsevier.
Macbeth, S. and Pitt, J.V., 2015. Self-organising management of user-generated data and
knowledge. The Knowledge Engineering Review, 30(3), pp.237-264.
Naumovska, L. and Blazeska, D., 2016. Public relation based model of integrated marketing
communications. UTMS Journal of Economics, 7(2), pp.175-186.
Nugroho, A.R. and Irena, A., 2017. The Impact of Marketing Mix, Consumer’s Characteristics,
and Psychological Factors to Consumer’s Purchase Intention on Brand “W” in
Surabaya. iBuss Management, 5(1).
Raj, R., Walters, P. and Rashid, T., 2017. Events management: principles and practice. Sage.
Reic, I., 2016. Events marketing management: A consumer perspective. Taylor & Francis.
Sadd, D., Fyall, A. and Wardrop, K., 2017. Evaluative event frameworks: A learning destination
perspective. International Journal of Tourism Research, 19(3), pp.339-348.
Smith, R., 2015. College re-culturing, marketisation and knowledge: the meaning of
incorporation. Journal of educational administration and history, 47(1), pp.18-39.
12