Corporate Event Management: Planning, Promotion, and Analysis

This report provides a comprehensive overview of corporate event management, encompassing various aspects from planning and promotion to feasibility studies and audience identification. It begins by defining corporate events and differentiating them from leisure events, outlining the range of corporate-focused events such as conferences, trade shows, team-building activities, and company meetings. The report then delves into the differences between planning and promotion strategies for corporate and leisure events. It further examines the importance of different corporate events in meeting strategic business goals, supported by examples such as how conferences and team-building events contribute to achieving objectives. The report also discusses the criteria for identifying potential audiences for new corporate events and highlights the significance of feasibility studies in determining and mitigating risks. Key elements of a feasibility study are outlined, followed by the development of a detailed plan for a corporate event, incorporating key planning and promotion principles. Finally, the report evaluates the process of planning and promotion, culminating in a comprehensive plan for a corporate event.

Corporate event management
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Table of Contents
INTRODUCTION...........................................................................................................................3
P1 Range of different corporate focused events..........................................................................3
P2 Comparison and contrasting difference between corporate and leisure events......................4
M1 Differences between planning and promotion of corporate and leisure events....................5
P3 Different types of corporate events and their importance in meeting goals...........................5
M2 Evaluation of success of different types of corporate events in achieving strategic business
objectives.....................................................................................................................................6
P4 Different criteria to identify potential audience for new corporate event..............................6
M3 Importance of feasibility study is determining risk...............................................................7
P5 Key elements of feasibility study of event.............................................................................7
P6 Plan for a corporate event and key planning and promotion principles.................................8
P7 Evaluate process of planning and promotion of corporate event...........................................9
M4 Develop detailed plan for corporate event..........................................................................10
CONCLUSION..............................................................................................................................10
REFERENCES..............................................................................................................................12
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INTRODUCTION
Event industry is rapidly growing to a great extent. It has entered into various areas and
providing variety of services to people. There are various types of events which are organised
such as corporate, wedding, parties, meeting, etc. In all these events the requirement of client
differs. Moreover, it requires a proper planning in organising event. it is because there are
different types of activities which are done in it. Also, event needs to managed in effective way
to make it successful (Vallée,, 2019).
this report will lay emphasis on different corporate event and its difference with leisure
events. Furthermore, it will review different event on basis of goals. It will be described about
criteria to find out audience and elements of doing feasibility study. In addition, a plan will be
developed for event and process of planning and promotion of event will be discussed.
P1 Range of different corporate focused events
Before discussing different types of corporate events it is important to understand the
actual meaning of corporate events. So, in this context it can be said that corporate events refer
any form of events or social activity which is being organized or funded by business entity.
Audience of such kinds of events are mainly members of a board, employees, stakeholders, but
they are not limited to this. Some different types of corporate events include:
Conference: It is one of the most common type of corporate event which often last for 1 day in
order to provide important and all detailed information to target people by business. One of the
main common aims of organizing conferences is to motivate and educate students or participants
by selecting some specific and relevant topics. It is the most suitable type of corporate events for
providing information to employees, resellers and customers.
Trade shows: In this type of event, businesses rent space within a larger event area with main
aim of promoting products and making customers aware about effectiveness of their products
and services. In some types of trade shows, businesses may host of an exhibition for attracting
other businesses which are known as exhibitors and providing them opportunities to promote
their goods and engage attendees (Types of Corporate Events, 2017).
Team building events: It is also called as in house events in which employers or managers of an
organization try to boost morale confidence and engagement of employees with the company and
colleagues. One of the main aims of this event is to encourage and make employees able to work
together and help company in accomplishing their goals as well as improving overall
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productivity. Corporate team building events can be organized for making employees feel valued
by organizing some activities like solving puzzles, completing complex outdoor obstacles for
checking their confidence and sense of humour.
Company meeting: It is a common and the most used formal corporate event in which
shareholders of an organization, board members and stakeholders come together at a place for
discussing performance of the company and areas for improvement. If business found
requirement of changes in any area then also it organizes this type of event to inform all member
about it as well as discussing ways as how they can develop or grow their business (Baker,
2018).
So, from the above discussed events it can be said that all are beneficial for both
employees and employers and ultimately help in accomplishing goals.
P2 Comparison and contrasting difference between corporate and leisure events
There is a huge difference between business and leisure events as they are being
organized for different purposes. Leisure events are those events which are being organized for
entertainment, traveling for enjoyment, visiting new places, destinations, sports, cultural
purposes etc. There is no relation of customers or attendees of finance or business transaction is
known as leisure. Whereas all those events which are being funded by businesses for completing
business activities, accomplishing goals, promoting products, attracting customers and all others
needs relating to business. Some other differences include:
Motivators: Visitors related to this event are mainly motivated to travel for exploring
different cultures, visiting new places and to experience freedom. Ultimately enjoying and
making themselves pleased and refreshed (Buswell and et.al., 2016).
Whereas, in business related events, main motivator is business activity, learning
something new and growing themselves as a professional. Event organizer of business events are
motivated by the suitability of the venue, effective host and other facilities. Attendees are
motivated by the content or the main topic of the business, location as well as accessibility.
Type of experience: In business related corporate events, attendees want to attend events
because of increasing knowledge, sharing knowledge and boosting sales. On the other hand, in
leisure travels or events, people just want to make themselves refreshed and enjoying nature and
other things.
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Management: It refers planning, coordination and organization. Management of leisure
events or traveling are being managed by travelers themselves and sometimes it may be managed
by tour operators, travel agents and others as per the choice of travelers (Moutinho and Vargas-
Sanchez, 2018). On the other hand, business travels are also being managed by travelers
themselves and sometimes it being managed by others like specialist staff hired by business etc.
Some leisure activities include for which such kinds of events are being organized:
driving, fishing, hiking, ice skating, golf etc. whereas, product launching, attracting customers
are some activities of business corporate events.
M1 Differences between planning and promotion of corporate and leisure events
Basis Leisure events Business events
Purpose  Fun, enjoyment or leisure.
 Exploring new cultures and
destinations as well
 Business networking.
 Education
Drivers  Available leisure activities.
 Affordability.
 Attractiveness of destinations
and cultures
 State of domestic
economy.
 Quality of events and
infrastructure.
Expenditures  Personal expenditure of traveling
and leisure activities.
 Both personal and
business expenditure
Service providers  Hotels
 Tour operators
 Airlines
 PCOs
 EMCs
P3 Different types of corporate events and their importance in meeting goals
Different types of corporate focused events are being developed for helping companies in
accomplishing their goals. Different types of events have different purposes related to business
activities. Here are some corporate events which shows that how such events help in meeting
goals of the company such as:
Conference: It is one of the most common used corporate events. Conferences are being
organized by businesses and educational institutions. It helps them out in accomplishing their
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goals. For example: London University and some retailers of the UK wants to make their
position in the market as they are facing problems due to climate change- Covid 19. So, by
organizing online conference they can take suggestions from all participants and can also
communicating appropriate ways which university and companies have decided about changes
by which they can being in the market. So, by taking suggestions and providing all information
they can take better decisions. So, it can be said that conference help companies in
accomplishing their goals because it gathers all those people who share same or common goals
by which they support companies in accomplishing their goals (Spyropoulou and et.al., 2018).
Team building events: Team building events also help companies in accomplishing their
goals. For example: Toyota wants to become the market leader then with the help of organising
team building events it can make all employees aware about collaboration and improved relation.
By engaging them and allowing them to interact with each other Toyota can motivate them, It
can help employees in reducing errors in their work as because of improved relation they take
help and guidance of their seniors and improve performance. By working in a team, they also try
to bring innovation and creativity which can help company in satisfying customers' needs,
attracting them to the great extent and becoming market leader as well.
M2 Evaluation of success of different types of corporate events in achieving strategic business
objectives
There are several corporate events such as seminars, trade shows, product launching and
others which helps in accomplishing goals such as: improving brand, attracting customers,
increasing sales, taking competitive advantages, bringing innovation in organisation and
satisfying customer needs. Team building improves relation and engage employees. Conference
and seminars help company in making decision. Trade shows and product launching allows them
to attract customers and lead sales.
P4 Different criteria to identify potential audience for new corporate event
Identification of audience or target people is one of the important tasks while organizing
and making planning about corporate events (Jaimangal-Jones, Fry and Haven-Tang, 2018).
Selection of target market or audience is mainly depended upon purposes and nature of the
corporate events. For example: if conferences is being held by educational institutes then their
target market will be students and it also depends upon aim or objectives of conducting or
organizing events. For example: if restaurant is going to launch new food product or snack which
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is beneficial for older as food product is full of healthy products and nutrients. For this it
organizes product launching event then main target will be people with age group of 35-50.
There are some common criteria of identifying potential audience such as: Age, occupation,
gender, educational and income level, ethnic background and demographic location. It is also
important to identify as target people have same or common goals which company has.
Targeting people with same feelings, willingness and accomplishing goals can make beneficial
to company in meeting all objectives in a timely as well as in an effective manner.
There are other ways of setting criteria of target market and others such as: looking at the past
attendees, results of that events, looking at competition as whom they are targeting, what is their
objectives of organizing events, what kind of content they are going to use, taking suggestions
from colleagues about setting criteria as per the main aim, sending survey or asking questions to
mail list to nearby people and by creating an attractive attendee persona profile. So, by making
use of all these and on the basis of objectives of organizing events, criteria of target market are
being set (Kasperson, 2019).
M3 Importance of feasibility study is determining risk
The study enables in analysing all things are done in right direction and there is minimum
risk in it. this enables in taking effective decision and fulfilling needs of stakeholder. Along with
it, study helps in identifying risk that can occur and taking proper measures to mitigate it.
P5 Key elements of feasibility study of event
It is necessary to conduct feasibility study of event so that it is easy to identify areas where
improvement is needed. By doing it problems are identified and then measures are taken to
improve. However, there are several elements which needs to be considered in it. They are useful
in conducting event successfully (Pröllochs and Feuerriegel, 2020). Similarly, for corporate
event feasibility study is done. in that there are certain elements to be followed. They are defined
as
Time – It is vital element of feasibility which state that whether there is enough time to organise
event or not. Also, how much time is required to book venue, promote event, etc.
Fund – here, study is done to find out how much funding will be available for event and level of
risk in acquiring those funding. besides that, what are expenses incurred in it and revenue
generated.
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Staff- in this study in which HR feasibility is done. it is accessed that whether proper staff will be
available for organising event or not. thus, tasks are identified so on basis of that staff is
recruited.
Venue – It is accessed whether there is access to a suitable venue. The venue should be equal to
or better than the standard expected by all participants and other stakeholders.
P6 Plan for a corporate event and key planning and promotion principles
A corporate event is planned with purpose of organise a party. for that proper planning is
done which allow organising party in effective way. Also, to successfully do event there are
certain steps which is followed (Vallée,, 2019). so, it is as below :
Understand need of stakeholder- this is first step in which needs of stakeholder is identified. It
helps in analysing why event is organised and what is its purpose. Through that, it becomes easy
to find out goals and objectives of event. here, a corporate event of auto expo will be done.
Setting budget- The next step is to set budget for event. On basis of goals and needs of
stakeholder budget is estimated. this allows in ease in allocation of resources. the budget reflects
how much expenses will be incurred. then, accordingly further planning is done. the budget is
$15500
Timeline- in this the event time is set. this means that how much time is required to organise and
complete event. so, there is break down of activities of event. Thus, auto expo event will of 7
days.
Identify audience- It is a crucial stage in planning as here audience is identified for whom event
is organised. On basis of audience, snack, theme activities etc are decided. Thus, for auto expo
event audience will be auto companies.
Chose theme- Here, a theme is chosen of event. there are various types of themes in event.
However, theme is chosen as per stakeholder need and audience of event. in auto expo event
theme will be launch of new cars.
venue- After all above things the venue of organising event is selected. The venue must be
accordingly to audience capacity so that there is no problem in managing people. It must fit all
the specs. auto expo will be organised in an open ground.
Planning logistics – in this stage overall schedule of event is organised that what activities will
be done on which day.
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Promoting event- The event is promoted to attract people. for this different sources are used such
as social media, TV, newspaper etc. so, auto expo event will be promoted through social media.
P7 Evaluate process of planning and promotion of corporate event
It is important to do proper planning for organising an event. this is useful in analysing
activities and doing it properly. Also, planning gives insight on what things are to be done, when
and how. besides that, success of event depends on how well planning is done. there is a
systematic process to do planning (Hwang, Kihl, and Inoue, 2020). It enables in effective
organising of activities and task and completing event in specified time. Apart from it, event
needs to be promoted as well to create awareness. So, there is process of promoting corporate
event.
Step 1 Identify requirements- this is first step in which requirements are identified. here, needs of
stakeholders are determined. then, accordingly planning is done. the main thing identified here is
when, where, what etc.
Step 2 estimate budget- It is step in which budget is estimated for event. Then, accordingly
resources are allocated in various tasks. the planning of budget gives insight on expenses
incurred.
step 3 – select a theme- this is most crucial step in planning of corporate event. Here, theme of
event is identified and accordingly arrangements are made. on basis of theme entire event is
organised.
step 4 venue and caterer- here, venue of event is selected on basis of theme. the venue needs to
be as per theme. also, environmental analysis is done to identify hazard that can occur. However,
along with venue, catering planning is done. Moreover, catering is selected on basis of theme of
event.
step 5- schedule of logistics – In this step logistics planning is done. here, it a schedule is
prepared that when and where logistics is to be accommodated.
Process of promotion of event
In similar way, corporate event is promoted by following a process
step 1 finding out sources of promotion- the first step is to find out what are ways of promoting
an event. It is essential to identify it so that its pros and cons are specified. Besides that, target
audience is evaluated and how they will be reached. then.
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step 2 – defining strategy – in this strategy are developed that how promotion will be done. it
consists of all steps which are to be implemented (Kasperson, 2019).
Step 3 selecting of relevant source – here, an effective way of promotion is selected by doing
analysis of it. For that, there are various criteria which is taken into consideration.
step 4 promotion- this is last step in which event is promoted in specific way. All method and
way are followed in it.
M4 Develop detailed plan for corporate event
Understand need of stakeholder- this is first step in which needs of stakeholder is identified. It
helps in analysing why event is organised and what is its purpose. here, a corporate event of auto
expo will be done.
Setting budget- The next step is to set budget for event. On basis of goals and needs of
stakeholder budget is estimated. this allows in ease in allocation of resources. the budget is
$15500
Timeline- this means that how much time is required to organise and complete event. Thus, auto
expo event will of 7 days.
Identify audience- It is a crucial stage in planning as here audience is identified for whom event
is organised. Thus, for auto expo event audience will be auto companies.
Chose theme- Here, a theme is chosen of event. there are various types of themes in event. in
auto expo event theme will be launch of new cars (Cheng and Wang, 2019).
venue- The venue must be accordingly to audience capacity so that there is no problem in
managing people. auto expo will be organised in an open ground.
Promoting event- The event is promoted to attract people. So, auto expo event will be promoted
through social media.
CONCLUSION
Hereby, it is summarised that corporate event are of different types such as Conference
Trade shows, etc. there is difference between corporate and leisure event. Also, key elements of
feasibility study is fund, staff, venue, etc An event of auto expo is organised and audience is auto
companies. the purpose is to launch new cars. There are several steps in planning of event like
stakeholder need, chose of theme, venue, date etc.
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REFERENCES
Books and journals
Baker, C.L., 2018. A CRITICAL INVESTIGATION INTO THE KEY FACTORS AND
CHARACTERISTICS OF AN EFFECTIVE CORPORATE EVENTS TEAM (Doctoral
dissertation, Cardiff Metropolitan University).
Buswell, J. and et.al., 2016. Service Quality in Leisure, Events, Tourism and Sport. CABI.
Cheng, Q. and Wang, X., 2019. Do corporate site visits impact stock prices?. Contemporary
Accounting Research, 36(1), pp.359-388.
Hwang, G., Kihl, L.A. and Inoue, Y., 2020. Corporate social responsibility and college sports
fans’ online donations. International Journal of Sports Marketing and Sponsorship.
Jaimangal-Jones, D., Fry, J. and Haven-Tang, C., 2018. Exploring industry priorities regarding
customer satisfaction and implications for event evaluation. International Journal of
Event and Festival Management.
Kasperson, R.E., 2019. Corporate management of health and safety hazards: a comparison of
current practice. Routledge.
Moutinho, L. and Vargas-Sanchez, A. eds., 2018. Strategic Management in Tourism, CABI
Tourism Texts. Cabi.
Pröllochs, N. and Feuerriegel, S., 2020. Business analytics for strategic management: Identifying
and assessing corporate challenges via topic modeling. Information &
Management, 57(1), p.103070.
Spyropoulou, S. and et.al., 2018. Strategic goal accomplishment in export ventures: the role of
capabilities, knowledge, and environment. Journal of the Academy of Marketing
Science. 46(1). pp.109-129.
Vallée, B., 2019. Contingent capital trigger effects: Evidence from liability management
exercises. The Review of Corporate Finance Studies, 8(2), pp.235-259.
Online
How to do corporate event, 2018. [online] Available through :
<https://www.businessnewsdaily.com/9825-plan-corporate-event.html>
Types of Corporate Events. 2017. [Online]. Available through:
<https://www.penguins.co.uk/blog/what-are-corporate-events>
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