Metro Bar Event Report: Prom Night Marketing and Financial Analysis

This report provides a comprehensive analysis of a Prom Night event planned at Metro Bar, University of Bedfordshire, focusing on its marketing strategy, human resource requirements, and financial details. The marketing strategy section outlines the use of the marketing mix (7Ps) to promote the event, including product (prom night activities), price (couple entry tickets), place (Metro Bar), promotion (pamphlets, social media, university website), people (event staff), process (contact details for queries), and physical evidence (advertisements). The human resource section details the essential staff roles, such as supervisors, advertisement/promotion team, sales team, administration staff, catering staff, coordinator, security staff, and cleaning staff, highlighting their responsibilities in ensuring a successful event. Furthermore, the report includes a financial analysis covering fixed and variable costs, along with a break-even analysis to determine the point at which the event becomes profitable. The report aims to provide a clear understanding of the planning and execution required for a successful Prom Night event.

Report

Table of Contents
INTRODUCTION...........................................................................................................................3
Main body.......................................................................................................................................3
Marketing strategy.....................................................................................................................3
Human resource requirement.................................................................................................5
Financial details.........................................................................................................................7
CONCLUSION.............................................................................................................................10
REFERENCES............................................................................................................................11

INTRODUCTION
This report will consist of event which will be taken at Metro bar at university of
Bedforshide. report will discuss about marketing strategy of conducting the event.
further it will discuss of human resource requirement or staff which is required for pre
event and post event activities. it will also analyse financial details which includes cost
of events and break-even point.
Main body
Marketing strategy
Marketing strategy will be helpful to find out that what marketing activities will get
conducted (Mothersbaugh and et.al., 2020). It is the systematic way of assessing
promotional strategy. it is the overall plan through which business can reach to its
potential customers. marketing strategy contains elements like value proposition,
customer demographics, other high level elements etc. It will be conducted with the help
of marketing mix.
Marketing mix:
it consists of tactics which is used by company or event organiser in order to promote its
product or services in the market. it consists of 7 elements which are as follows:
Product-
It refers to the products or services which is produced by company. the event is prom
night. prom night is the event in which seniors and juniors students of college participate
in various activities of the event (Chou and et.al., 2020). to participate in the event
students, have to be in formal attire. there are various activities which held in prom night
which includes various games, dance, fun challenges etc. basically it is the dance party
where students have to wear dress according to code which is provided by them. this
event normally organises at the year end. after the end of the event prom king and prom
queen got announced and those individual is given prices who is looking best at prom
night. female will get awarded as prom queen and male gets awarded as prom king.

there are several other titles also which is given to the students at prom night. an
individual who is hosting this event will have the responsibility to arrange activities for
students. they will also arrange food for them.
Price-
this element will decide on pricing strategy which company or event will select so that
they can achieve target (Key and Czaplewski, 2017). it is important to choose such
pricing strategy which will be helpful in covering costs and also help organiser to gain
profits. before setting prices it is very much important that organiser will research that
what prices people are willing to pay. for prom night, only couple entry will be allowed.
couple has to pay entry ticket if they want to attend this party. this party will provide
them free food and drinks and games. this all are included in entry ticket. couple which
include one male and one female have to pay for entry ticket. by showing entry ticket
they can take entry in prom night.
Place-
Place include the physical existence or the online existence of the company. for the
event, it will get organised at Metro Bar, Luton campus at university of Bedforshire. this
place has chosen for this event because it is inside university so it is convenient for
every students to attend this party. this place is also safe. so that why it can be said that
safety of students is insured. as campus of university have bar so bar is the nice place
to arrange party. prom night consists of dance, food, drinks etc and all these are
possible and will be conveniently done in Metro bar.
Promotion-
it is the most important element of marketing mix (Goncharova, Solosichenko and
Merzlyakova, 2019). it consists of advertisement and promotional related activities. in
order to promote this event pamphlet will get distributed among university students. on
the social media page of university which consists of Facebook and Instagram
information about this event will get posted. social media channels are being selected
because it is the most convenient way to give advertisement and also maximum
students are present on social media platforms. so that is why it will be going to target
students very easily. information regarding prom night will also get displayed on the
website of the university. as website is the online identity of university and students

often visit on university’s website. so it will easily target lots of students and attract them
to visit prom night.
People-
this event will include many people which consists of the staff which is required in the
start of the event and also staff is required at the end of event. there is a complete team
require which will see promotion of event, food arrangement team, cleaning team etc.
Process-
for any query regarding event contact details will be provided under pamphlet and also
on adds which is posted on social media channels (Assimakopoulos and et.al., 2017).
students can contact and ask management team of event if they are having any issue or
query regarding this event.
Physical evidence-
physical evidence for the event can be called as the advertisement which is given by the
event planner on various social media platforms. pamphlet can also be the physical
evidence of prom night as it consists of all information related to this event.
Human resource requirement
Human resource can be said as the most important resource for every company or for
every event. without human resource no event can take place successfully (Soegoto
and Utomo, 2019).
Supervisor-
supervisor is the most important person for organising event. supervisor have complete
information and have knowledge regarding how to conduct the event. he or she is also
called as event planner. an event consists of lots of activities so it is very essential to
have supervisor or planner. as he or she will going to monitor complete team. he or she
will also ensure that the process which is planned for conducting the event is going in
an effective manner or as per planned or not. supervisor is the head of event and he or
she have overall control in the event.
Advertisement or promotion team-
this takes place before event in order to promote event. promotional activities are very
important because this way people get aware of the event which is going to be

organised. this team consists of members which are solely responsible for promotion
only (Sanaei and Sobhani, 2018). there are various ways in which promotion can be
done. nowadays social media marketing is considered as the most effective strategy
through which promotion can be done. as social media platforms have more users so it
becomes easy to target the people for event. for this event of prom night promotional
team have the responsibility to posts various advertisement images on social media
channels. posts can be in the form of image, video, graphics etc. posts will also consist
of various information of event which consists of the time, data and venue of event. it
will also consist of the terms and condition of prom night like it is necessary that only
couples will get entry. information regarding dress code will also get mentioned in that
posts. it is also the responsibility of promotion team to mention contact details of the
person whom can get contacted in case of any queries.
Sales team-
sales team is important because it will work towards selling the tickets of event. event
will get profitable only if its tickets will get sold. so it is they responsibility of sales team
to concert leads and also to sell tickets to the students. effective sales team is required
if event want to receive higher profits because more tickets sold means more profit for
the event organiser. sales team works with marketing team so that more revenue can
generated. marketing team provides leads to the sales team on which they work.
Administration staff-
they also play important role in the event (Talebzade Shoshtari and Khademi Ashkezari,
2018). they take care of all official work which has to be done which consists of booking
venue or taking permission form the head of the university. they also organise meetings.
it is the responsibility of administration team to solve issues if an individual is having
regarding event. as on the advertisement posts contact details will be provided of
administration team only. as they have complete information so they will properly solve
queries if any arise. this team is also responsible for the documentation if required.
Catering staff-
Again the important staff, it consists of duties for arranging food and drinks. it is the
most important duty because variety and taste of food plays vital role in making event
successful. if event have everything perfect say it be music or any other entertainment

but food is not good then that is not called as the successful event. so it is very
important that prom party should have good catering staff which is good in making
menu and also dishes. if there is any shortage of food then it is also the responsibility of
catering team so it is very important that catering staff should estimate properly
regarding number of guests which will going to attend the event. catering staff can take
idea from administration team as they have proper counting and have information
related to number of guests.
Coordinator-
he is the person who will coordinate with various teams of event and will make sure that
event is going as per expectation (Ugoani, 2020). he also coordinates with those people
who organises fun activities for party and also make sure that music team will come on
time. they ensure that people are doing their duties properly and then give report to
supervisor.
Security staff-
it ensures the overall security of people who are attending the event. security staff will
make sure that people who are their in the event are safe and also their belongings are
safe. this staff consists of security guard which will be given duty on parking area. so to
ensure that parking has been done properly.
Cleaning staff-
it is again important staff or human resource. after prom party it is obvious that the
condition of venue will not remain the same. so it is required that event planner should
have appointed staff for the purpose of cleaning. this team is solely responsible for all
the activities which is related to cleaning. they will make sure that after the event gets
conducted then they clean venue properly (Arias, Munoz-Gama and Sepúlveda, 2017).
Financial details
the costing which is involved in prom night are as follows:
Costs requirement in the event-
there are various costs which are required while conducting the vent. this event is about
prom night which is organised for students of university. costs are of two types which
are fixed costs and variable costs. fixed costs are the costs which cannot get changed
as it remains fixed only which includes rental charges, salaries or wages, printing costs,

stationary costs etc. there are variable costs also which consists of costs for food and
drinks. these costs are called as variable costs because food items can be increased or
decreased then it will be dependent on that so that is why it cannot be fixed as there are
probability that it will variate.
break-even analysis:
break even analysis means finding out point where company’s revenue exceeds the
total costs. it is the point where company or event starts experiencing profits which is
the relationship between fixed cost, variable costs and revenue of company (Horal,
Shyiko and Yaroshenko, 2019). break-even point means when any company or any
event is on the position where they are experiencing no profit and no loss. so it is the
situation of no profit and loss. break even analysis also includes contribution margin.
contribution margin refers to the excess amount within selling price and total variable
costs. in this event to calculate break even point is must so to identify that the event has
incurred profit or losses. it will also helpful in recognising mistakes what has done in
organising events in terms of costs. it is also helpful in determining changes in profits if
costs which are associated in various activities gets altered.
Fixed cost of the event
Fixed costs £
Venue rent 645
Supervisor wage 500
Cleaning cost 450
Promotion cost 950
Administration cost 450
DJ music rent 550
Waitress cost @ 2 waitress for 2 hours 92
Printing invitation cost 363
total 4000
variable cost of event
Variable costs £
Food 200

drinks 100
total 300
break-even point = Fixed cost/ (sales price per unit- variable cost per unit)
fixed cost = 4000
variable cost = 300
selling price = 500
contribution = selling price- variable cost
= 500-300
= 200
BEP= 4000/200
=20
5000
4900
4600
4300
4000
0
from the above calculation it can be interpreted that the break-even point of event is 20.
so it is important for prom party event organiser that they have to sell 20 units if they
want to attain BEP and the units which is sold more than 20 is the profit for the event
organiser. event planner will incur losses if the units sold will be less than 20 (Hafizan
and et.al., 2020). fixed costs in the event is 4000 and it will remain fixed and cannot gets
changed and variable costs is 300 which means that event team can make changes is
variable costs to increase their profit margin and contribution is 200.
10
0
20 30 40
Break even point
Units
Costs
Total costs
revenue

Benefits of BEP: after calculating break-even point organiser or company will come to
know that how much units have to be sold so that event will become profitable. BEP
also help to safeguard from future losses. by calculating this business will get idea that
they will face loss or profit and if they are facing loss then they can take necessary step
to safeguard them from loss situations. so it can be said that it is helpful in making smart
decisions. calculating BEP will help organiser with pricing of tickets (Break even
analysis. 2020). after this they will come to know that what prices are to be set to attain
more profits.
CONCLUSION
Through this report it can be concluded that the event which is organised at Metro bar,
University campus is regarding prom party. it will get attended by students of university.
students will be provided dress code for this party. report has also analysed marketing
mix of the event. it is promoted by using social media platforms like Facebook etc.
university website is also used for the purpose of promotion. there is various human
resource which is needed while conducting the event. first of all event planner is very
important because it is the responsibility of him regarding complete event. it also include
people who are responsible for promotion, cleaning, administration etc. report has also
evaluated different costs which event will incur. it is found that Break even point of event
will be 20 units so it is important that 20 units has to be sold to reach at BEP point which
is no loss no profit point.

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