Marketing and Business for Service Sector: Events Mill Report

This report outlines a comprehensive marketing plan for The Events Mill, a UK-based event management company. It begins with an introduction to marketing and the importance of a marketing plan, followed by an overview of The Events Mill, its services, mission, vision, and objectives. The report includes a detailed SWOT analysis, identifying the company's strengths, weaknesses, opportunities, and threats. It also incorporates a PEST analysis, examining the political, economic, social, and technological factors influencing the business. The plan further delves into market segmentation, targeting, and positioning strategies, particularly focusing on an event featuring Ed Sheeran. The report concludes with a discussion of the marketing mix, including the 7Ps. This marketing plan aims to increase customer engagement and sales for The Events Mill.

Marketing And Business
For The Service Sector
Assessment Question

Table of Contents
INTRODUCTION ..........................................................................................................................3
TASK ..............................................................................................................................................3
Marketing plan: ..........................................................................................................................3
CONCLUSION .............................................................................................................................10
REFERENCES..............................................................................................................................11

INTRODUCTION
Marketing is a managerial activity through which product takes movement towards
customers by the help of recognising need of customers for product, demand and marketing
channels (Chen and Lee, 2018). For proper execution of all the activities that means for
appropriate functioning of all the procedure of marketing and proper implementation of
strategies a plan is created which is termed as marketing plan. This report undertake a practical
implementation of marketing plan and all the related aspects of a marketing plan such as SWOT
analysis, PEST analysis, market segmentation, targeting and positioning. The company taken for
this report is The Events Mill which is pioneer in managing big events in UK. It was established
in 2013.
TASK
Marketing plan:
It a written operational document which includes framework of marketing process that
how the new launched product and service will grab opportunity in market to attract more and
more customers. A marketing plan involves mission and vision of the company so that plan can
be made accordingly to attain those mission. It also involves SWOT analysis of The Events Mill
for which marketing plan is prepared so that all the market opportunities can be identified and
considerably used to eliminate threats and weaknesses. Marketing plan further includes
segmentation, targeting and positioning so that the decisions regarding selection of proper
markets and key audience for coming next events can be made and this can give more profits to
The Events Mill. Similarly marketing plan encompasses allocation of budget, this will help The
Event Mill in allotment of funds in that particular events so that they can maximise their profits
in minimum cost (Dadzie and et. al, 2017).
Company overview: The Event Mill is pioneer of event management company In UK. It
arranges all kinds of events for their customers. The Event Mill was launched in the year 2013
and currently working on global level that has worked with Rolls-Royce, Chivas Regal, Marcus
Mumford, The Savoy and War Child UK. The Event Mills organises luxurious birthday parties,
luxurious weddings, corporate events, charity events, corporate dinners and destination parties
and weddings. They offer four types of key services that are:

The Events Mill Atelier- These are the services which is given by the party planner star
Christopher Mills.
The Event Mill Boutique- Such services are delivered by other broad agencies and remarkable
party planners ( Guillet and Kucukusta, 2016).
The Event Mill Absolute- This kind of services are provided by creative team which provide
full range of design and uniqueness.
Bureau- Those services are rendered by trustworthy outside suppliers.
Executive summary: The Event Mill is a leading holders of business in event
management industry. Now the company wants to manage such a event in which they make
special appearance of British pop singer Ed Sheeran. By this they want to attract more people so
that their customer engagement may increase and this will result into greater sale of tickets and
greater profits. Ed Sheeran is an emerging singer which is liked by youngsters and the people of
all age so this event can boost their business image in the market and help them to get more
capture over market share.
Mission: Mission of The Events Mill is to attract more customers so that to increase
customer engagement and to enhance their clientele.
Vision: Vision of The Events Mill is to simplify the event management complexities so
that to connect people and provide quality and expertise experience to the clients.
Objective: The marketing manager of The Events Mills is required to form SMART
objectives which are as follows:
S -This stands for specific objective that means The Events Mills has set their objective
to increase their customer engagement and sales.
M- Means Measurable which means that objectives of The Events Mills should be
measurable as the marketing manager has decided to enhance the sale for 25% and customer to
18%.
A Refers to Achievable objectives as The Events Mills has aimed to achieve these goals
by several measures such as by providing suitable training to their creative team so that they can
provide more innovative ideas in future and by arranging development programs for the
employees (Kienzler and Kowalkowski, 2017).

R Represents Realistic that means by attaining these objectives by The Events Mills they
can be able to enhance their brand image in the market and increase share of customer capture
over the market.
T Describes that the objective are Timely bound that means The Events Mills is required
to achieve their decided objective within the next event which is going to take place in the next
month.
SITUTAION:
SWOT Analysis:
Strengths:
 The Events Mills is a renowned company in event management industry and they
provide specialised, luxurious and superior quality of services to their clients
(Lakshmi, 2017).
 The Events Mills is having super talented and creative team which remains
motivated for their working. They maintain a highly experienced team so that
they can provide uniqueness to each and every event and eliminate possibilities of
errors and problems.
 The Events Mills possesses strong relations with their vendors and other partners
this help them to be flexible for any contingency and provide availability of any
material in faster duration when needed.
 Excellent public relations are hold by The Events Mills so this helps them to get
more over market share and faith of their clients.
Weaknesses:
 In the business of event management, huge capital is required to be invested for
any expansion. So it is difficult for The Events Mills to arrange such huge capital.
 Event management is an emerging concept so it is hard to provide awareness
about this business so that it can be adopted by everyone (Payne and Frow, 2017).
 Advertisement and promotion is an essential part for growth of a business. The
Events Mills is not having appropriate media contacts to get promotions so they
are lacking behind in media coverage.

 During the time of heavy demand it is not possible to serve each and every client
with superior creativity as The Events Mills is having limited creative staff so
this can diminish their market image.
Opportunities:
 Event management is a new concept so it is an opportunity for The Events Mills
to grab new markets and new outsources to expand and enhance customer
engagement.
 Local raw material manufacturer provides full proof support to The Events Mills
as they take raw materials and other substantial from local manufacturer and this
generate opportunity for The Events Mills to grow.
 As due to favourable economic conditions The Events Mills are continuously
getting opportunities to niche markets.
 The Events Mills are pioneer of event management business so this gives them to
build a strong brand image and that result into get more customer engagement and
market share.
 The Events Mills are supported by local NGO and local government so it is great
for them as The Events Mills can increase there brand image and publicise the
running event which is organised by them on behalf of NGO or local government.
Threats:
 During the time of recession no big events can be organised so this may create hard times
for The Events Mills to earn profits and other expansions.
 The Events Mills is a business where they require skilled and creative workforce so it is
very complex process to recruit skilled people and because of unavailability of skilled
workforce. It can hamper brand image and profit in a negative manner.
 An event management is all about innovation uniqueness and creativity. It is not
compulsory that can find their raw material for decoration everywhere or as according to
their specification (Solimun and Fernandes, 2018). So this is a threat because if this
situation occur The Events Mills will have to compromise on their quality and standard.
 The Events Mills faces high competition from their rivals like Aok events and BMB.
PEST analysis:

PEST stand for political, economical, social and technological factors. This is an external
analysis in the context of an organisation so that all factors can be analysed and organisation can
get competitive advantages in the market(Wood and Jobber, 2016). It is explained below:
Political factors: These factors includes governmental policies, government rule and
regulations, laws and legislations which can affect the working of The Events Mills. Further it
involves the political stability. As UK is a fair country and the government is proactive so it is
very important to follow all the regulations made by the government and grant permissions for
any events so that to have prevention from any governmental interventions. For example: As The
Events Mills wants to organise a music event of Ed Sheeran in UK so it is required to take
permission from the government for the place where event is going to be take place. For this The
Events Mills are required to authorise lease agreement from governmental authorities.
Economic factors: This factors includes monetary, fiscal and all the economic policies
and FDI policies of UK. If economy of UK increase this will result into increase in personal
income and buying power of customers. When flow of funds takes place in a country then this
increases the capacities of customers to exist, survive and buy products and services from the
marketer. When buying power and economy get increased in UK this will create opportunities
for The Events Mills as people will tend to buy services of event management so this will boost
customer engagement and sales of The Events Mills.
Social factors: Social factors involves the taste and preferences of people living in UK. It
also includes culture, religion, population density, gender distribution, income parity and
consumer attitude. These factors influences The Events Mills in such a manner that they can get
new opportunities to grow and expand. Due to cultural parity The Events Mills will have to
organise events as according to the preference of consumers and religion. For example pop
music is preferred by Britishers so The Events Mills came up with an event of music night with
Ed Sheeran.
Technological factors: These factors includes new emergent technological enhancement
which are introduced by people of UK. As in current scenario social media advertising is an
emerging tool to advertise or promote a product or a service. The Events Mills can use new
technologies to promote their new event of Ed Sheeran with the help of social media. They can
sell tickets with the use of website or social media channels as it is a new concept.
Strategies

Segmentation: Segmentation is refereed as dividing a market on the basis of several
factors or aspects so that to reach target market and customer in a considerable manner.
Segmentation is of four types:
 Demographic: It bifurcate market on the basis of personal factors such as age, marital
status, religion, education or occupation.
 Geographic: It differentiate market on the basis of religion, state or city.
 Psychographic : This distinguish market on the basis of personality, values and lifestyle.
 Behavioural: This separates the market on the basis of product usage, brand loyalty and
products benefits.
Targeting: The Events Mills can do segmentation on the basis of Demographic,
geographic and psychographic aspects (Yadav, Dokania and Pathak, 2016). As Ed Sheeran is a
pop singer so generally it will catch audience with younger age, city and the customers who are
fond of music and specifically live pop music.
Positioning: Positioning means the preference or place hold by the product or brand over
the minds of customers. So The Events Mills is required to promote or advertise the event so that
it can remain ion the minds of customer and more people get convinced to attend that. The
Events Mills can promote this Ed Sheeran show on social media and get more customer
engagement.
Tactics
Marketing mix: Marketing mix consist of 7P's of marketing which gives idea about
various aspects of newly launched service or product. 7P's are as under:
Product: The Events Mill is organising a music event of Ed Sheeran in UK. It is a live
music concert of Ed Sheeran.
Price: The pricing strategy used by The Events Mills uses price skimming approach as
they will keep lower prices for the Ed Sheeran music event and as the date will come closer they
will increase the prices.
Place: The Events Mills will organise Ed Sheeran music concert in the mid of London, so
that it will be convenient for everyone to attend that concert.
Promotion: The Events Mills will use traditional and modern approaches for promoting
their event. For promotion they will advertise the event on social media and on road side
banners.

Process: The Events Mills is distributing passes of Ed Sheeran concert with the help of
social media and their own website (Reic, 2016). They sells the passes in their head office on the
basis of first come first serve.
People: The Events Mills organises continuous training program for their employees so
that creativity and innovation can be enhanced.
Physical Evidence: The place of the event will be fully decorated with all over lights and
it will have ample space to keep chairs for audience so that they can enjoy the concert of Ed
Sheeran to the fullest.
Action plan
Budget and budget allocation:
The Events Mill prepare a budget as it helps them in forecasting the approximation of
their cost and income which they can earn from this new Ed Sheeran music concert. This will
help them to estimate and ask for the required amount of funds from their finance department.
Preparation of budget will help The Events Mill in monitor their performance and control over
absorption of cost. By the help of budget The Events Mill can compare their actual and budgeted
profit ratio.
Statement of budget is given as under:
Particulars Amount (£)
Social Marketing 5000
Promotional activity 12000
Plant and machinery 105000
Print media 8000
Hiring expenses for Ed Sheeran 100000
Total 230000
Controlling and monitoring
Monitoring and controlling is defined as the evaluation of all the marketing strategies and
tactics are profitable for the company or not. In the context of The Events Mill, company is
required to monitor the awareness of audience about the music concert of Ed Sheeran. It is to be
checked by The Events Mill that their promotional tools are effectively adapted by the audience

and the process of distribution of passes are up to date or not. Further The Events Mill need to
assess that the cost incurred is adhered to the budget prepared by them so that to avoid any
contingencies.
CONCLUSION
From the above detailed report it can be deduced that preparation of marketing plan is
essential for a business to grow and sustain in the long term. A marketing plan helps a business
to understand so many marketing concepts with the help of those concepts a business can get
competitive advantage in the market and increase their customer engagement. Marketing plan
help an organisation to identify their target market so that they can position their product or
service in a considerable manner. Further marketing plan examines the suitable pricing strategy
and tools for promotion so that to attract more customers. Moreover marketing plan aid an
organisation in deciding budget for marketing so that they can be prevented from any deviations
and earn super profits.

REFERENCES
Books And Journals
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preference. International Journal of Contemporary Hospitality Management.
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research. Journal of Business Research, 78, pp.101-110.
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and Computer Science. 6(4).
Payne, A. and Frow, P., 2017. Relationship marketing: looking backwards towards the future.
Journal of Services Marketing.
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