Sky High Events: Detailed Market Plan and Business Performance Review

This report provides a comprehensive analysis of Sky High Events, a Dubai-based event production company. Task 1 focuses on an introduction to the company, defining events and the role of event coordinators, outlining their functions, and detailing the steps involved in event management. It includes a SWOT analysis, PESTEL analysis, and a classification of the economy. Task 2 presents a detailed market plan, including a description of services, market analysis, target market identification, advertising plans, pricing strategies, and marketing objectives. The report also includes a financial plan, assessing the company's revenue and competitive landscape. The analysis provides valuable insights into Sky High Events' business strategies, market positioning, and financial performance.

TASK 1
Introduction
Sky High Events Dubai is an event production company in the UAE that
provides ultra-efficient event solutions to various prospective customers
from all over the emirates (Sky High Events, 2021). Our reputation precedes
us as excellent corporate event organizer based on our previous experience
portfolio; however, we specialize in all types of events organization and
management. Some of the corporate event organized by us include.
The Emirates NBD Conference
Etisalat Team Building Event

What are Events?
An event can be defined as a planned social, business or corporate
gathering. It is usually an occasion of importance. In the corporate world of
business today there are many forms to which an event can take. An event
could be either physical or virtual. Example of some of these events could
include seminars, products launching, business conferences, workshops,
trade exhibition and sometimes even community outreaches. Other events
that could be planned by an organization could include various forms of
themed parties depending on the occasion such anniversary parties, end of
the year Parties, parties in honor of National events and holidays.
All this event does not plan themselves as such this introduces the role of an
‘event coordinator’ whose job is to plan, arrange/ coordinate and
successfully execute these events.
Functions of an Event Coordinator/Manager
1. Planning: An event manager starts his/her duties from the
conceptualization of the event features and demands before acting
accordingly. In the real sense of things, he/she is in charge of bringing
his clients dream to life. All activities involved in this function is
translate the sponsors dreams to reality and most importantly defines
the extent to which can be made reality with their available resources
and time frame (Monster Internation, 2021).
2. Time Management: The Event Manager is responsible for making
sure all your activities that will make the event a success is performed
on time. This is to ensure that there is no mix-up in activities or failure
of any kind.
3. Organization: an events manager is also involved in the Direct
coordination of the staffs whereby duties are assigned to the
respective offices within the organization.

4. Staffing: this involves getting workers that are qualified to perform
the duties that will make the event a success. Some of this necessary
stuff could include publicist, waiters, sound technicians, event decor
amongst other important professionals.
5. Leadership and coordination: this involve directing all the activities
that make up the event, in simpler terms it means making everyone
involved is doing the right thing at the right time (Verma, 2021).
6. Evaluation and controlling: this are also associated with quality
checks or assessment to ensure that items are being delivered
according to specification.
7. Ensuring clear communication across all involved Parties:
Keeping a good rapport with both staff at the lower level and event
sponsors is important, this is to ensure that everyone maintains a high
level of productivity while working.
Steps in the Performance of the function of management
According to Valamis, (2020) the steps involved with the process of
management as a function includes the following.
 Planning Stage: In management the planning stage is defined by several
smaller steps which include:
 Goal and objective definition, this is usually done using the SMART
approach.
 Re-evaluation of objective and feedback from team members
 Agreement or Approval stage amongst team members
 Briefing/ Coaching Stage: in the management coaching stage it can be
broken down into the following simpler steps.
 Planning meeting at intervals
 Provision of solutions to team queries
 Establish a feedback system

 Re-evaluate objectives and goals where needed
 Process Review Stage: this review process is an appraisal step that
involves going over the progress of the process so far, it can be broken
down into the following smaller steps.
 Evaluation of team member performance so far.
 Evaluation of work process such as cost, challenges and
suggestions for improvement.
 Reviewing success so far achieved by the team.
 Application of feedback for further improvement
 Action/Mobilization Stage: this is the final stage of the management
process; it is also where all efforts made by the team comes to life. This
step can be broken down into the following processes.
 Mobilization
 Recognition and Rewards
 Feedback collection for a new cycle
Classification of an economy based on sectors
According to Pettinger, (2019) An economy can be classified into the
following sectors:
 Primary sector: which the direct extraction of raw materials for
production.
 Secondary sector: this is also known as the manufacturing sector of the
economy
 Tertiary sector: this known as the service sector that handles
intangible goods in the form of services.
 Quaternary sector: this sector of the economy due to its nature is
defined as the knowledge economy.
Below is an image highlight the various sectors of an economy along with
examples.

Corporate Legal Structure
There are over seven (7) types of legal structures used in a company but
they can be categorized into four main groups as described in the image
above (Pathway Lending, 2021). However, the corporate legal structure has
the following forms.
 C corps

 S corps
 B corps
 Close corps
 Non-profit corps
SWOT Analysis of Sky-High Events
The SWOT analysis of Sky-High Events as an organization based in Dubai
includes the following (Bush, 2016):
Strength:
 Sky-high events are a new start up, and therefore has an innovative
staff, trained to have customer satisfaction in mind.
 Sky-high events have a good supplier’s relationship that will help
customers Save cost.
 High rating in customer satisfaction.
Weakness:
 Sky-high events have a limited success outside Dubai
 Itis limited by resources as such need’s further investment for
operating capital
Opportunity:
 New cooperate business policy in Dubai can help the process of
expansion easier
Threat:
 Uses of online services as a replacement to physical events
 New corvid guideline discourages event hosting
 Presence of counterfeit supplies used in event planning and hosting
PESTEL of Analysis of Sky-High Events

Political: the laws affecting each office separately as they are individually
affected differences in legislature within the emirate.
Environmental: the UAE as a base for the company is beneficial to its
growth because of the high GDP in the country.
Social: the social environment in Dubai is filled with investors from all over
the world coming to do business in UAE as a trade center.
Technological: there is availability of recent technological innovations in
the country as the population of the country includes young minds in their
youth
Economic: the country has a high GDP, with more than a significant amount
of foreign investment flowing in the economy
Legal: the country’s legal system is strict as there is evidence of
marginalization across gender and religion.
References
Bush, T., 2016. A PESTLE Analysis of The UAE. [online] PESTLE Analysis.
Available at: <https://pestleanalysis.com/pestle-analysis-of-uae/>
Monster Internation, 2021. Event Coordinator Job Description Sample.
[online] HR Resources | Recruitment Best Practices. Available at:
<https://www.monster.co.uk/advertise-a-job/hr-resources/hr-strategies/
job-descriptions/event-coordinator-job-description/>
Pathway Lending, 2021. 4 Most Common Business Legal Structures -
Pathway Lending. [online] Available at:
<https://www.pathwaylending.org/news-and-blog/news/business-legal-
structures/>
Pettinger, T., 2019. Sectors of the economy - Economics Help. [online]
Economics Help. Available at:
<https://www.economicshelp.org/blog/12436/concepts/sectors-
economy/>
Sky High Events, 2021. Best Event Management Company in Dubai |
Corporate Event Planners UAE. [online] Skyhigh.ae. Available at:
<https://www.skyhigh.ae/>

Valamis, 2020. Performance Management Process and it's Steps. [online]
Available at: <https://www.valamis.com/hub/performance-management-
process>.
Verma, D., 2021. 5 Main Functions of Event Management–Explained!. [online]
World’s Largest Collection of Essays! Published by Experts. Available at:
<https://www.shareyouressays.com/knowledge/5-main-functions-of-
event-managementexplained/104979>

Task 2
Market Plan of Sky-High Events
Description of your product or service
Sky high events as a company in Dubai provides general services related to
event planning and management. The services offered as events
management includes customer idea visualization this is because Sky High
events focuses on a customer tailored experience, events location selection –
importance of picking the right location for any events cannot be
overemphasized and more importantly picking a location that suits your
budget as this alone can leave a lasting experience in the eyes of the
customers (Morgan, 2020). Amazingly they have an efficient budget
managing system that allows for the Dream of any customer to be created
within their exact budget thereby enabling them get more for less. All the
above translates to mean that sky high events are more than capable to
cater for the following types of events and services.
 Cultural celebration such as festivals
 Office events such gala nights, family nights, exhibition, inauguration
ceremony
 Community events
 Private events
 Themed events
 Network events
 Products launching
 Award night
Market analysis
An article by Zawya, (2016) estimated that the event management system in
Dubai is growing at an exponential rate with an industry value of DHS 165.15
million in the year 2016 and an annual projected growth of 25%. This simple

metric simply showed that the UAE has a good market for the event
management services.
Target market
The target market for this business is corporate bodies which includes banks,
telecoms companies, oil companies, shipping companies, Tech start up’s
amongst other similar organizations in the region.
Advertising plan
Sky high events has two approaches to publicize its business the first is in
using the internet and similar supporting media to create brand awareness
for the company in the public space, and the second the approach is to send
individual well trained marketing operatives or representative to individual
market the company’s brand and services (Bplan, 2021). This strategy was
selected because of the relevance placed upon face to face communication
by business operators in the region.
Pricing
We charge by the hour for work done, also we offer extreme competitive
rates to our competitors. With an average charging rate of DHS 5000 per
project (Mplans, 2021).
Marketing Objectives
 Increase customer retention by 25%
 Decrease the cost of getting new customers by 30%
 Increase brand awareness by 16% every 9 months.
Major competitors:
Currently in the region there are several competitors offering similar services
ass sky high events. Some of this companies include Electa studios,
Dotmotions, POP communications, Baran productions.
Financial Plan of Sky-High Events

The company has a current revenue of $4 million
References
Bplan, 2021. Global Event Planning Business Plan - Market Analysis
Summary. [online] Bplans: Business Planning Resources and Free
Business Plan Samples. Available at: <https://www.bplans.com/global-
event-planning-business-plan/market-analysis-summary/>
Linton, I., 2021. Marketing Plan for Event Planners. [online] Small Business -
Chron.com. Available at: <https://smallbusiness.chron.com/marketing-
plan-event-planners-42838.html>
Morgan, K., 2020. The 6 most important elements of a marketing plan |
finder.com. [online] finder.com. Available at:
<https://www.finder.com/essentials-of-business-marketing-plan>
Mplans, 2021. Event Planning Sample Marketing Plan - Marketing Strategy -
Mplans. [online] Mplans.com. Available at:
<https://www.mplans.com/event_planning_marketing_plan/marketing_str
ategy_fc.php>
Zawaya, 2016. Dubai's event management industry was estimated at
DHS165.15 million and continues with an annual growth of over 25%.
[online] Zawya.com. Available at: <https://www.zawya.com/uae/en/press-
releases/story/Dubais_event_management_industry_was_estimated_at_D
HS16515_million_and_continues_with_an_annual_growth_of_over_25-
ZAWYA20160208100234/>