Event Planning & Financial Strategy: Metro Bar, Luton Campus, UoB

This report provides a comprehensive plan for organizing an event, specifically a wedding, at the Metro Bar on the Luton Campus of the University of Bedfordshire. It covers key aspects of event planning, including marketing strategies utilizing the four P's (product, price, place, promotion) to attract the target audience and effectively communicate the event's message. The report also outlines human resource requirements, detailing the roles and responsibilities of event managers, coordinators, and other staff members needed for pre-event, during-event, and post-event activities. Furthermore, it presents a detailed financial plan, including budgeting and cost analysis, to ensure the event stays within its financial constraints while achieving its objectives. The report emphasizes the importance of adaptability and flexibility in event planning to meet client needs and ensure a successful and memorable event.

Event Planning

Contents
INTRODUCTION...........................................................................................................................................4
MAIN BODY.................................................................................................................................................4
Marketing strategy..................................................................................................................................4
Human resource requirements................................................................................................................6
Financial details.......................................................................................................................................9
CONCLUSION.............................................................................................................................................12
REFERENCES..............................................................................................................................................13

INTRODUCTION
Event organizing may be a lucrative career option. The finest event organizers will establish
a reputation and be capable of charging top dollar for their ideas, originality, implementation,
and outcomes. The practice of coordinating an event including a gathering, conference, expo,
ceremonial, group building exercise, party, or conference is referred to as planning an event
(Kim, Choi and Leopkey, 2021). Budgetary control, setting timeframes, choosing and setting
aside occasion sites, requesting, making plans food, finally implemented, continuing to develop a
topic, planning, choosing presenters and lectures, organizing for infrastructure and tools,
controlling risks, and constructing contingencies in place are all aspects of planning process. For
this report select event of wedding that organize in United Kingdom by top businessman. It must
be hosted at the Metro Bar, Luton Campus, University of Bedfordshire. In this report consist of
marketing strategy, human resource requirements and financial details about the event.
MAIN BODY
Marketing strategy
Marketing mix: The four P's are often used to characterize the marketing mix: product, pricing,
promotion, and location. To use these four factors while planning an event can help to create a
festival, athletic event, performance, or other promotion strategies that attract the proper
individuals and effectively communicate about message.

Product: The phrase "product" encompasses both tangible and intangible goods and also
activities. It is a provider corporation for our company. We primarily supply wedding planners
with consultation services. Clients can opt for the entire service package or only a portion of it.
The filled range of services here include supplying proposal suggestions, developing the
wedding ceremony event, implying wedding ceremony arenas, trying to contact photogs for
wedding photo sessions, creating a video of the couple's love storey, confirming with resellers
such as bridal gown, and getting ready the marriage cars (Agner, 2021). Our consumers, on the
other hand, are still welcome to make suggestions on any aspect of the project. The service we
give is adaptable and versatile. For instance, the bridegroom may like to dance for his wife, and
we will assist him in completing the necessary preparations to ensure that the entire presentation
runs smoothly.
Price: They will just discuss a small portion of what goes into price decisions because price is an
extremely complicated process. Pricing is heavily influenced by the other 3Ps of marketing:
product, location, and promotional. The highest price a consumer is willing and able to pay for a
Wedding Extravaganza commodity in the current highly competitive environment is known as
the relative benefits. They have included the costs of planning an event and promotion, facility
and instrument rental, personnel, security, licenses, permissions, and fees, installation and
cleaning fees, presents, foodservice, announcement systems, and pre / post wedding. To
determine the price, deduct expected sponsorship earnings, contributions, and sales revenue from
expenditures. The services are tailored to the client's budgets. However, they promise that their
service is excellent and that the pricing is fair. For instance, unless they want a live band to
perform at wedding supper, the cost is usually around RM 2000 for three hours. Nevertheless,
since we have our personal musician band, our pricing is significantly lower. There are certain
prices that have been set as a guideline. The pricing will be modified if the customers have any
additional needs. Please contact us for additional details on the pricing approach. (Zihan and
Runxin, 2021).
Place: The term "place" can also mean "route," "division," or "conciliator." It's the process of
moving products and/or commodities from a service supplier to a user or customer. They ought
to utilize at minimum three criteria to pick the top sites. Begin by determining which venues are
suitable for cocktail receptions, press tours, media interviews, and the function in respect of on-

site operations. Next, think about how simple it is for intended audience to even get to each
venue, taking into account travel time, traffic, and availability. Complete the venue selection
criteria by deciding on the finest logistical areas that are able to attain and fit cost (Lee and et.al,
2021). The place or distribution channel via which Wedding sends its goods to market is a group
of procedures. Allocation and advertising serve a variety of purposes, including logistical issues,
lowering buy batch size and thus particular target people to purchase products, supplying
customers with complete data, offering a diverse product assemblage using business units –
broadness, duration, and depth, making products easily available to target clients, and allowing
customized solutions.
Promotion: This entails informing admirers of existence as well as why people should care
about it. Although many artists rely heavily on the information to advertise themselves (social
media, creating internet sites, share videos, and so on), it's also critical to develop a mix of
"offline" techniques (getting beat on college radio channels, going to seek feedback in magazine
ads, connectivity at major dates and charitable organizations, and etc) to properly cover the
industry. Select magazines and newspapers, radio stations, and internet to advertise to target
registrants depending about what they study, view, attend to, and visit, using thorough
demographics characteristics of the target population. To get the most out of the occasion, begin
public connection and social media efforts long well before event and continuing thereafter.
Encourage suppliers and providers to help create a buzz at their retail establishments. Encourage
supporters to advertise the event on their facebook and other social media pages when they have
one (Vegara-Ferri, Pallarés and Angosto, 2021).
Human resource requirements
The logistical administration of public and corporate events is assisted by event employees.
Constructing locations and putting up seats and platforms for events, as well as acting as
stewards and managing cash machines, are among their major tasks. Employment is the process
of finding competent employees for certain jobs inside a company or industry. Recruitment
relates to the procedure of recruiting individuals, appraising their talents and experience, and
then allocating them to specific job roles within an organisation. The operational administration
of business and public events is assisted by Event Organizers. Constructing locations and putting

up seats and platforms for concerts, as well as acting as ushers and managing cash machines, are
among their major tasks (Yamashita, 2021).
Main requirements
 Excellent ability to organize.
 Effort and thoroughness are required.
 Outstanding interpersonal skills and a pleasant disposition.
 Strong communication skills, both written and vocal.
 Strong strength and great amounts of energy are required.
 Problem-solving abilities.
 The ability to perform well under pressure.
 Functionality is a strong suit of yours.
 Conflict resolution abilities.
To organize any event requires to hire a event manager who is liable for all the activities and
manage their staff members as per the requirement. The manager gives direction to all the
staff and manages the event (Samuel and et.al, 2021). There are mentioned responsibilities of
event manager in beach part such as:
 Preparation for the event
 Organizing an event that achieves the intended goals
 Organizing the finances and logistics for the event (venue, catering, etc)
 Organizing a successful event advertising campaign
 Registrant management
 Administration of the day-to-day operations
 Assuring that logistics are operating well on the day of the event (catering, venue,
equipment)
 Coordinating event personnel to assist with attendance tracking, speeches, attendee
assistance, and sign-ups, among other things.
 When necessary, sending SMS messaging to attendance (last minute venue changes,
parking notices etc)
 Messaging, monitoring, and analysis following the incident

 Coordinating post-event advertising and communication (thank-you emails, feedback
surveys, and so on)
 Examining reports
 Analyzing comments and reporting analysis to find if the event's aim was met
Event coordinator: Event coordinators, often known as event experts or event organizers, are in
charge of all aspects of arranging an event. Selecting locations, deciding costs, coordinating best
services, and checking customer approval are some of their major responsibilities. These are
different from the event manager because manager has not field experience only contacts with
client after that coordinator handle all the activities (Olson, Kedrowski and Singh, 2021).
Responsibilities
 Determine the requirements and aspirations of each customer for each event.
 As during event planning phase, communicate with suppliers, attendees, and partners to
verify everything was in line.
 Oversee all aspects of event setup, cleanup, and obey.
 Keep track of event expenses.
 Make arrangements for venues, performers, cameras, and presenters.
 The day before the event, do final checks to verify that everything meets the client's
expectations.
 Evaluate the current successful completion of the project and report your observations.
 Recognize the criteria for each event.
 Consider the event's budgetary and timing restrictions while planning it.
 Make arrangements for facilities and presenters.
 Must choose finest mix of cost and quality from suppliers (catering, decorators,
musicians, etc.).
 Engage with suppliers to get the best deal possible.
 Personnel should be hired to manage all aspects of the event (preparing venue, invitations
etc.)
 Make last inspections the day before the event (tables, technology, etc.) to verify that
everything is up to code.

 Keep an eye on what's going on at the event and act swiftly to fix any issues that arise
(Kim, Baek and Choe, 2021).
Other staff members: These are mentioned the responsibilities of other staff members who are
helping to coordinator in event management in Luton.
Responsibilities
 Unpacking material from vehicles and preparing event locations, including chairs and
stage construction.
 Assisting as stewards and verifying that chairs and tables are compliant with fire codes.
 Checkout clerks are operated.
 Performing underneath the direction of an Event Coordinator.
 Assuring that the venue is clean and well-organized.
 Observing function safety guidelines.
 Assuring high levels of client satisfaction.
 Taking up security responsibilities
 Taking up the job of Ticket Taker and greeting visitors.
 Lights and audio apparatus are being set up.
 Operating as a food and beverage server at a food counter.
 Providing attendees with pertinent data.
 After each usage, checking property for deterioration and comparing it to an inventory
list.
 Whenever the event is over, it's time to pack away the apparatus (Ferrús and et.al, 2021).
Staff required for pre event activities: Before the event require 15 staff members because pre
event require to done many thinks like promotion, tickets, reception and any things.
Staff required for post event activities: After the event most of staff members are free because of
event is done so require 5 staff members who are collecting feedback from different audient and
give report to their planner. According to report event planner check out their mistakes and apply
modification in further event.

Financial details
Financial information is collected on a person's or companies financial activities. Debt
collectors are using this formula to assess credit risk estimations. The following is an overview
of accounting transactions: Names from credit cards. For the organisation of Beach part event
require to forecast of financial activities that help to set particular budget and take right steps.
The financial statements' main function is to give knowledge about a firm's performance of the
company, financial condition, and future revenues. The material in accounting records is utilized
by consumers to draw conclusions about capital allocation (Pourasadoullah and et.al, 2021).
A financial plan describes current financial status in detail; along with investment targets
and any strategies you've created to achieve them. Specifics concerning cash flow, saving, debt,
investment, healthcare, and other aspects of personal finances should all be included in better
fiscal management.
Budget
Create a prediction of the revenue and expenditure that will be produced over the duration of an
event, as well as making adjustments such forecasts in reference to real expenses, is the process
of event financial planning. Although it's critical to start preparing an affordable option as quick
as practicable, it's also critical to change or update it as the development continues. An event
budget entails anticipate an event's financial result in addition to enhancing event management
strategies and ensure financial sustainability.
Venue £645 per night
Promotion £250
Cards printing £150
Equipment £500
Security £300
Food & beverages £450
Cleaning £100
Waitress £23 per hour
Additional information:

Accessibility to the facility for predefined is accessible from 4pm to 7pm, a properly licensed bar
is provided from 7pm to 11pm, and smooth time is needed until 1am. From 7pm to 11pm, the
Metro Bar will provide licenced bartenders (for the sole intent of distributing and delivering
beverages).
The safety, emptying, and cleanliness of the location are the responsibility of the customers that
lease it.
Anything disturbance to the Metro Bar's facilities, furniture, or image will be invoiced to the
customer.
The customer is committed to ensuring that their visitors are dispersed in a safe and efficient
manner.
Extra Working Hours: Hours extra can be rented at the recommended intervals:
A single hour (staffed bar open till 12am and clean-up time till 2am) 87 pound
2 hrs (staffed bar open till 1am and clean-up time till 2.30am) £185 -
Waitress services - for the given fee, the implementing the proposed system a waitress services
(for the sole purpose of serving beverages at the worktop):
£23 per hour for one waitress (maximum of 3 waitresses). Restaurant staff can be employed for
as little as two hours and as long as four hours.
Break-even point: Whenever sales income and expenditures incurred over a certain time are
equivalent, a firm breaks even for that term. As a result, the break-even point is the moment at
which a firm generates no net profit or loss. A firm's break-even point can be expressed in terms
of dollars of total sales or units manufactured or sold. It doesn't matter how a business defines its
break-even point; it was still the point when there's no profit or loss (Wong and et.al, 2021).

This is thought to be the most important and significant instrument in financial management
approaches. Managers can comprehend the connection between sales and components to
overhead expenses and the influence of fixed cost when determining financial ratio by
determining break even analysis point. On the basis of recognizing this point, the company may
decide which choice is most advantageous in order to achieve continued prospects.
Indirect expenses as well as the selling price of a single product, and also cost involved, are
required to establish break-even assessment (Filippetto, Lima and Barbosa, JL. 2021).
CONCLUSION
According to the aforementioned study, event planning is explained as the method of
creating, preparing, implementing, and assessing gatherings. The planning process of a series of
well-executed decisions and techniques brings events to fruition. Adventures are emotive by
their very nature. Event planners plan and coordinate all commercial, business, and community

engagements. They'll be in charge of the complete method, from the initial process of planning
until functional implementation and post-event research. It's a mostly hands-on profession that
occasionally necessitates teamwork.

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