Data and Information Management: Event Planning Business Proposal

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ENTERPRISE
Student Name:
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SIT103: Data and Information Management
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Table of Contents
Question 1..................................................................................................................................... 3
Section 1: Original Business Concept.............................................................................................3
Section 2: Testing of original business concept.............................................................................4
Marketing plan...........................................................................................................................8
Section 3: Second Iteration............................................................................................................8
Conclusion..................................................................................................................................... 9
References................................................................................................................................... 10
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Question 1
Section 1: Original Business Concept
Awaken the Dreams, The Event Planning specialist, brings to London a fresh breath of air in the
event planning segment. By joining the traditional standards, and adding a special element of
surprises, with the application of the cutting edge event-planning software, Surprise & Events
will be on the top of the marketplace, delivering the unchanged quality outcome, every time.
Surprise & events is an equal opportunity company using its proficiency and its goods available
to assist its clients to plan their special occasions and events. The event planning software makes
interactive event planning so easy. By these and other reasonably priced goods and services,
Surprise & events intend to be the top resource for all events. The surprise and events is a small
organization which will look forward to achieving high. For reaching the high goals, it has to
focus on the mission behind the vision. The workers, owners, vendors and founders will have to
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follow the vision daily for making the business successful (Marketing Blender, 2019). The vision
is clear that the organization wants to:
 Be one of the top 3 event planning experts in London,
 Fairly compensate the staff members, founders and owners of the surprise and events
 Deliver the top quality outcomes, every time.
Section 2: Testing of the original business concept
 For testing the original business concept, the first thing that was done was asking the right
questions. The business venture needs clear ideas and complete plans and therefore for
getting the answers, there was introspection with the right questions by which every aspect
of the start-up was considered. These questions help in digging up deeper into the thought
process and creating a plan. When the issues are resolved in the start then success can be
easily achieved. These questions involved :
 Why there is a need for starting a business?
 What problem does it solve?
 Who is the target client?
 What are the available resources?
 What are the goals?
As a start-up kit, there was a gathering of valuable information which covered each aspect of
event planning like financing of the business, acquisition of licences, information regarding the
industry, the hiring of the suitable staff and the other aspects which would keep the business
up and running (Kappel, 2019). This was later on added with a copy of the software to be
purchased that would be used for event planning in a professional way. The organization will
help the people in organizing the special events and parties so that they can host the events
hassle free.
 The second step was to know about the competitors and understanding their strategies.
For this, there was the assessment of organisations similar to the surprises and events. By
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considering other organisations, the trending machine for what has been successful in the
past and valuable insights were gained so that the plant does not go into losses.
 The evaluation of capital what's the next step for finding the best combination of Capital
Solutions for the business (Special events, 2015). As per the feedback received, it would be
tough for the organisation to get adequate business capital for starting up, therefore, there
have been some changes in the plan. Now the capital for this start-up will be we attain from
various sources like personal funds such as credit card or savings account and Bank which
food offer loan for small business. Since the business is not yet established therefore the
previous plan of securing start-up money was not visible. Convincing others would be tough
that idea is feasible therefore the use of personal funds and loans would be a better option.
The organisation has to bring something unique to sustain in the competitive market, for
which the business has got its customized software, which will be useful in making the
customized packages.
 Access to the market is the 4th step because one of the best ways to test the business idea
is the definition of the target market (Spaeder, 2019). In this case, the target market is the
middle to upper-middle-class segment, couples or individuals or the staff of public and
private organisations. These groups have been chosen as they are highly capable of
affording event planners and they don't have much time to spare for our events. Families
need attention, the staffs have a lot of workloads and the large events require huge details
however people are not trained in such tasks to be carried out for event planning. This way
this organisation will feel the requirements by taking up the burden to plan so that people
have more time to spend on friends and families. The organization is planning to use social
media and print advertisement through the local newspaper to inform people about the
benefits of the services. The word-of-mouth will also play a huge role in enhancing the
clientele.
 After this, the market analysis was done on the small group appoint the testing of the
business idea with the target customers was done by having a Focus Group where a few
numbers of customers who are can use of rings and give feedback. The focus groups,
interviews and surveys are a useful way to find out what the customers think before the
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business course live. The internet has also been used for getting feedback from the target
market (Yuen, 2012). The online groups were searched which might be interested in the
business and their general impressions were seen along with the ways of doing things
differently.
By using the above steps, it was seen that this organization is in a unique situation of
completing because it will have to compete against the conference facilities being provided by
the hotels, conference centres and similar other event planners in London. There have been
certain strengths and weaknesses of these competitors, which have to be kept in mind while
creating the business strategy. Hotels and conference centres provide with support staff,
equipment and onsite facilities and even if an individual wants to stay there overnight then also
it can be done but usually, these are highly expensive, and not completely skilled into event
planning. Therefore, the error rate is high because there can be various events taking place at
the same time are there can be used number of guests in the hotel at the same time.
The other event planners might have been there in the market from my long time with the
great reputation and clientele however the chosen software will help this organization to have
a cutting edge over the competitors. Similarly when the individuals or other people want to
plan their event themselves then it would be time-consuming and always outsource this activity
to this organization with the facility of using their time for other important tasks.
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Surprise & Events manages a diverse market of customers. Inside each market section, bringing
of deals to a close will vary. Each methodology is portrayed as beneath:
 Private and Public Organizations
Sales will be considered one to two days after the accomplishment of the event. A subsequent
telephone call will be put illuminating the customer of the absolute cost, number of
participants, and data about the charging package that will touch base at their workplaces.
Feedback structures will be incorporated into these packages to guarantee the customer is
being filled in as they esteem fitting. Structure letter expressions of gratitude will be sent after
every event.
 People
Sales will be finished up with a subsequent telephone call one to two days after the event. The
telephone call will clarify the all-out expense of the event, a number of participants, and data
concerning the charging. Each party of all age groups are put up on a charging cycle. The bills
will be conveyed on the 25th of the month and will be expected to be cleared prior to the 10th of
the next month. Feedback forms will be put into these parcels to guarantee the customer is
being provided with the services as per the requirements. Communication to say thanks will be
sent after every event.
Organizational Structure
The management team within Surprise & Events will be a tiny one in the start. The prime
member of staff is the initiator, who plans events, then creates a pact with disc jockeys, caterers,
decorators, and crew to complete the event. A contractual labour site executive will be around to
work the events like a sales coordinator and liaison (Ryan, 2016). Therefore, there are two major
workers working with diverse levels of salespersons.
When Surprise & Events attains its extension objectives, every office will have 1-2 event
planners, an associate, 2-3 location managers for the events, and a product and marketing, expert.
This team will operate as one with steady communication by weekly staff conferences, electronic
mail, and message boards. Each of the tasks has to be interconnected.
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Marketing plan
Planning the amazing events which lay a memorable print for customers is one of the supreme
marketing tactics as the good work will gain referrals and will flourish through word-of-mouth.
For the marketing tactics to be successful, the business has to be consistent in its application.
The networking is the key to expanding business and therefore, the entrepreneur will have to
focus on development and nurturing of the relations. Lots of referrals will come from the
existing clients and relations already built in the past. As the business is a start-up, therefore
the tactics need the creation of the powerful Facebook page along with the building up of the
fan page "likes". The starting point can be the addition of likes from the networking partners,
customers and friends.
Section 3: Second Iteration
After the feedback, there has been an amendment in the iteration which was previously made
and therefore now the focus will be only on the people and not private and public
organizations, in the beginning, find the individual people and groups and societies will be
focused first and then for expansion it will move on to the organizations. Therefore the
organization will offer the packages at different costs which can also be customized according
to the needs of the customers. There has been a Mother's Day package which would be offered
to females for the kitty parties and get together which word start from £50. Now the focus will
be on changing the targeted segment i.e. the family and friends would be given special
attention.
Since the targeted segment has been changed for the initial phase, therefore, the sales strategy
would also differ and most of it will be personal selling (Capell, 2013). Not only the webpage
but the other ways of communicating with the clients will also be utilized for expansion of the
client. The initial month will be spent on setting up an office and very less or almost no sales can
be expected for the 2 months. The launch of the software along with marketing of the concept
will be focused in these two months. It is expected that the third month the sales activity will
start off. It is expected that the sales will grow slowly and steadily after the fifth month and
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from 6 months onwards the sales will continue. This sales plan is expected with only the
individual clients and once the business starts expanding, the corporate clients and
organizations will also be focused after the first year.
Conclusion
There is no clear way to see if the company will be successful or not however careful planning
has to be done along with the use of the right marketing strategy. There has to be adequate
capital for getting an idea to kick off. The quality of services have to be provided with resolve
the issues of customers and show the passion of them to renew and therefore the
entrepreneur will be capable of creating a profitable business.
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References
1. Capell, L. (2013). Event management for dummies. Chichester, West Sussex: Wiley.
2. Kappel, M. (2019). How To Test A Business Idea. Retrieved from
https://www.forbes.com/sites/mikekappel/2017/09/20/how-to-test-a-business-idea/
#60f80d15635b
3. Marketing Blender. (2019). Best Examples of Company Vision and Mission Statements
(from A to Z). Retrieved from https://www.themarketingblender.com/vision-mission-
statements/
4. Ryan, W. (2016). How Do You “do” Event Management Education (EME)? a Case
Study of Event Management Higher Education Awards. Event Management, 20(1), 69-
80.
5. Spaeder, K. (2019). How to Research Your Business Idea. Retrieved from
https://www.entrepreneur.com/article/70518
6. Special events. (2015). Offer Multiple Options at Events. Special Events Galore, 15(8),
5-5.
7. Yuen, R. (2012). Market Analysis Versus Security Analysis. SSRN Electronic Journal.
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