This document provides an overview of event marketing and the stages of developing a marketing plan for an event. It discusses conducting a market analysis, which involves assessing the size and value of the target market, identifying customer segments and their needs, and analyzing competitors and barriers to entry. It also covers defining the marketing mix, including the four Ps of product, price, place, and promotion. Promotional activities and tools that can be used for different media are outlined. The final stage of developing a marketing plan discussed is control, which involves limiting the scope and activities of the plan.
This document provides an overview of event marketing and the stages of developing a marketing plan for an event. It discusses conducting a market analysis, which involves assessing the size and value of the target market, identifying customer segments and their needs, and analyzing competitors and barriers to entry. It also covers defining the marketing mix, including the four Ps of product, price, place, and promotion. Promotional activities and tools that can be used for different media are outlined. The final stage of developing a marketing plan discussed is control, which involves limiting the scope and activities of the plan.
This document provides an overview of event marketing and the stages of developing a marketing plan for an event. It discusses conducting a market analysis, which involves assessing the size and value of the target market, identifying customer segments and their needs, and analyzing competitors and barriers to entry. It also covers defining the marketing mix, including the four Ps of product, price, place, and promotion. Promotional activities and tools that can be used for different media are outlined. The final stage of developing a marketing plan discussed is control, which involves limiting the scope and activities of the plan.
Instructor MARKETING - an integrated process of producing, distributing and selling goods and services to the buyers. 5 stages of Marketing Plan
1. Market Analysis (Feasibility Study)
2. Defining the marketing mix 3. Setting Marketing strategy 4. Control 1. MARKET ANALYSIS Stages of Marketing Plan Market Analysis (Feasibility study)
- A market analysis is a quantitative and
qualitative assessment of target market. - It looks into the size of market both in volume and in value, various customer segments and buying patterns, the competition and the economic environment in terms of barriers to entry and regulation. Stages of Marketing Plan Market Analysis (Feasibility study)
-Objectives of a market analysis section in
events management: 1. It lets you know your target market. 2. It shows event stakeholders that you know your market and the event is appropriate for the target markets. Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
1. Assess the size of your market. 2. Identify which segments of the market you view as your target market. 3. Identify the needs of the market. 4. Identify and know your competition/s. 5. Identify barriers to entry. Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
1. Assess the size of your market. When assessing the size of the market, your approach will depend on the type of event you are planning and the market segmentations. Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
1. Assess the size of your market. There are 2 factors you need to look at when assessing the size of a market: 1. The number of potential customers 2. The value of the market Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
1. Assess the size of your market. Example: Students Students in QSU Students in La Sallete Market Value Php 2,000.00 Php 5,000.00 Potential 500 students 200 students Customers Competitors 3 events 1 event Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
2. Identify which segments of the market you view as your target market. Identify the specific market segment with different drivers of demands. Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
3. Identify the needs of the market. You need to get into the details the specific needs of your target market in your event. You will also identify what will drive them to attend in your event. Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
4. Identify and know your competition/s. This gives you a fair view of who you are competing against. You need to explain your competitors’ positioning and describe their strengths and weaknesses. Stages of Marketing Plan Market Analysis (Feasibility study)
-How to do a market analysis?
5. Identify barriers to entry. This simply identifies the edge of your event. It usually answers 2 questions: a. What prevent others from conducting an event in your chosen location and time; b. What’s in your event that other events conducted/ to be conducted don’t have? 2. DEFINING THE MARKETING MIX Stages of Marketing Plan
Setting Marketing Mix
Marketing mix refers to the set of actions or tactics a company uses to promote its product in the market. Stages of Marketing Plan
Setting Marketing Mix
4 factors of Marketing Mix 1. Product – what the event offers 2. Price – the cost of attending 3. Place/Convenience – ease of attending 4. Promotion – all activities undertaken to make the event known to the user and trade. Its aim is to achieve Attention, Interest, Desire and Action. Promotion - 4 Types of promotion: 1. Advertising - Is any form of impersonal (one-way) paid communication in which the company is identified. 2. Sales Promotion - It contains methods of stimulating consumer purchase usually on a short-term or immediate goal. Promotion - 4 Types of promotion: 3. Personal Selling - It involves a one to one communication between buyers and customers. 4. Public Relations - It is maintaining public relations with the public. It includes public relations to customers, shareholders, suppliers and others. Stages of Marketing Plan
Setting Marketing Mix
Commonly used Marketing Tools 1. Prints 2. Internet-based materials 3. Mass media 4. Outdoor advertising 5. Person to person 3. SETTING MARKETING STRATEGY Stages of Marketing Plan
Setting Marketing Strategy
It involves identifying the Marketing Mix
and Marketing Tools. Stages of Marketing Plan
Decide your promotional activities
How you are going to promote your event
using you marketing strategies? Stages of Marketing Plan Setting Marketing Strategy A. Decide your promotional activities How Electronic Media can be used for Promotion 1. Promote your event, sponsors and clients through TV and Radio Commercials 2. Provide free ad space on your company's website where your sponsors and clients can promote their products and services for particular period of time. Stages of Marketing Plan
Setting Marketing Strategy
A. Decide your promotional activities
How Print Media can be used for Promotion 1. Promote your event, sponsors and clients through newspapers ads, magazines ads, trade journals, press releases, tickets, passes, invitations, banners and posters. 2. Imprint you sponsor/client's company name and logo on your staff's shirts and caps and on the pens, diary, gifts, and exhibitors‘ manual and other promotional materials. Stages of Marketing Plan Setting Marketing Strategy A. Decide your promotional activities How Electronic Media can be used for Promotion 3. Develop an event website just to promote your upcoming event and provide a facility for online registration. All the details regarding the event must be available on the website. 4. Use electronic signage like visual display signage, Plasma Screen, LCD Screen, LED Screen, Projection Screen, Video Walls etc to promote your sponsors and clients. 4. CONTROL Stages of Marketing Plan
Control
How will you limit your activities, your
scope of limitations. Activities:
Create a Marketing Plan using the template below:
A. Market Analysis. (follow the 5 steps on how to make a market analysis) 1. Customers 2. Competitions 3. Barriers to Entry B. Marketing Strategy 1. Marketing Mix and tools selected 2. Promotional Activities. REFERENCES BOOK REFERENCES: 1.Cruz, Zenaida L.(2006). CONVENTION AND EVENT MANAGEMENT SECOND EDITION. National Bookstore: Mandaluyong City 2.Cruz, Zenaida L.(2015). CONVENTION AND EVENT MANAGEMENT THIRD EDITION. National Bookstore: Mandaluyong City 3.Romero, Eloisa A. (2009). EVENT MANAGEMENT HANDBOOK FIRST EDITION. Rex Bookstore Inc.: Sampaloc, Manila 4.Allen, Judy (2009). EVENT PLANNING SECOND EDITION. John Wiley & Sons Canada, Ltd.: Canada 5.Bladen, Charles, et. al, (2012). EVENTS MANAGEMENT: AN INTRODUCTION. Routledge: New York, USA 6.IRFU Organization (2008). EVENT MANAGEMENT HANDBOOK for event organisers of larger events (greater than 3,000 spectators). Eamon O’Boyle & Associates, Safety Consultants 7.Brown, Nancy ( 2011). HOSPITALITY AND EVENT MANAGEMENT 8.Wagen, Lynn Vander (2010). EVENTS MANAGEMENT 4TH EDITION 9.Wagen, Lynn Vander, et. al. (2012). EVENTS MANAGEMENT FOR TOURISM, CULTURAL, BUSINESS AND SPORTING EVENTS 10.Polivika, Edward (1996). PROFESSIONAL MEETING MANAGEMENT