Go Back   ManagementParadise.com | Management & Business Education Learning Platform Management Students Voices ( MBA,BMS,MMS,BMM,BBA) > HOT Debates - The Big Fight

Event Marketing

Discuss Event Marketing within the HOT Debates - The Big Fight forums, part of the Management Students Voices ( MBA,BMS,MMS,BMM,BBA) category; ...

Reply

 

Thread Tools Display Modes
Event Marketing
Old
 (1 (permalink))
whiteball
whiteball is an unknown quantity at this point
 
whiteball
 
Institute: g.r.damodaran
Status: Offline
Posts: 1
Join Date: Mar 2009
Event Marketing - March 31st, 2009

EVENT MARKETING
Today entertainment and event marketing has become a large income generating market. Many of the industry profiles state that any event which requires funds would call for an excess budget, but the fact is a well planned strategy for an event will work on any budget. Event marketing thus becomes a very important part of your event plan.

What is Event Marketing?
There are certain strategies to follow which are applicable no matter what the size of the budget in these are:
a. Identifiable target market
b. Accurate positioning
c. Good channels of distribution
d. An effective launch strategy
e. Category domination
f. Sustaining power
g. Delivery of a promise
It's your creative thinking, not the limit to your spending power that determines your success. A major marketing tactic employed in the Event Marketing strata are:
a. The need to use multiple channels of distribution- Gone are the days of relying solely on receipts. Videocassettes, cable and network television and foreign sales are all diverse sources of revenue.
b. The importance of synchronous launch- Forget about launching a product market by market, consumers have short attention spans and multiple entertainment options.
c. The aggressive use of credible endorsements- if someone raved about your product, let everyone know. Consumers are generally influenced by third party testimonials
At the same time, the entertainment and event industry has taught some tough lessons the hard way. For e.g.- donít let your costs run high that returns on your investments is impossible and never advertise or distribute your product when everyone is releasing theirs.
Entertainment/ Event marketing involves the setting of prices, packaging, advertising, distribution and merchandising of just about any form of entertainment or event available for public consumption. Travel has begun on the information super highway. Shortly millions of people will encounter a staggering selection of entertainment through satellites, phone lines, high-powered PCs and hundreds of cable television channels. Then there will be a profusion of new ways to reach these consumers.
What can marketers do to reach this position?
While it is true that the public has a voracious thrust for some new event, simply producing a product or event no long guarantees success. Prior to risking thousands or even millions of rupees promoters, producers and entrepreneurs must determine exactly who their audience or target audience is and how best to reach it. Reaching your target is half the battle won. Convincing them that it is the best thing that has happened requires marketing prowess.
Whether you call it marketing or hype, great advertising is a kind of art that can often help propel your product towards a very profitable existence within its short life span.
Before we dive into the wonderful world of event marketing, we need to look at the world of advertising.



Marketing Your Event
There isn't an industry in the world whose marketing exercises are more than discernible than the event/entertainment business. When you market an event, you are charged with creating a brand in the shortest amount of time possible. Advertising, publicity, promotion in some cases, research are the tools of effective event marketing. To make it, your project should be armed with a good poster, press kit, lots of promotions and a creative campaign and sometimes the event, nobody can predict an event's success or failure. At the same time not even the most provocative and powerful marketing can save a bad event.
Prior to beginning the marketing process for your event, it's a good idea to take a check of the saleable qualities of your product/event before you market it. Ensure that you are properly equipped to proceed. You should be able to answer the following questions about your product/event before you market it:
a. Is it a strong and a unique event?
b. Have there been similar events of the same genre that has been successful?
c. Do you have any notable cast in your event?
d. Do you have a target audience?
e. Is the key art powerful?
f. Does the product/company connected with the event have a marketable track record?
g. Is there a merchandising capability?
The remainder of the process deals with the challenges and issues these questions raise.

Creating a Budget
There is no set formula when setting a budget to market an event. You have to look at several variables prior to generating a budget:
a. What is the potential of your event?
b. Who is your audience?
c. What is the gross of similar events held in the past?
d. You will also need to find out how many markets should be included in the release of your event. (Markets here means cities)
The other approach to budgetting is targetting your audience and determining how best to reach out to them. This can be very tricky, since making a mistake by targetting the wrong market can destroy an event.
The way to ensure a strong opening is to create an awareness frenzy as the premieres. Depending on the genres, you need to generate a lot of publicity, press releases and a breakthrough campaign to isolate your product amidst in the clutter. The most essential and effective tool is in building awareness for any event in a campaign.

Positioning Your Product /Event
Long before the creation of your campaign begins, the positioning of your event must be decided. The positioning of the genre of the event decide the type of audience you will reach and exactly how you will posture the event to the press, who will write about it long before the consumer will ever see it.
Once you have determined who your audience will be, you can then start to research their characteristics and model your campaign after other similar events that have proved successful.
Creative Checklist
This section describes the creative elements necessary for the development of the key art and promotions required to sell your event.
Key art
Key art is the image created for the poster and later adapted for newspaper ads and publicity materials. Key art is the first element of creativity developed long before the event. The role of the poster is to generate an early awareness for the event. The poster image should be clean and simple. It's important to remember that key art designed for the poster will also be adapted for the newspaper campaign. The graphics must be clean and powerful in order to reduce properly as your ads grow smaller in the third or fourth week of release.
Along with the poster comes the cutline. The cutline or copyline is generally a few words that position or set up the event. The copy should be provocative, able to set a mood and sell the event.

Publicity
Publicity is used to legitimise the claims that you are advertising about your product/event. Publicity is carried out to direct the public's attention to your event. The publicity process should begin the minute a deal is signed to produce an event and it should be continuous throughout the release. During the pre-production period, stories regarding the event, its cast, the actual event, special effects should be regularly fed to the press. Here are a few points on how to generate a good publicity:
a. Assemble and distribute a comprehensive press kit to journalists and critics.
b. Secure major stories with newspapers and magazines. Ensure these stories break around the time of your event release date.
c. Distribute your electronic press kit to television studios, clips of the product, event and interviews with the creative team.
d. Arrange screenings for opinion making groups that will help spread the word.
e. Get local celebrities to attend premiere screening and also attach a radio, television and/or newspaper sponsor to the premier screening.
Advertisements

Friends: (0)
Reply With Quote
The Following User Says Thank You to For This Useful Post:
Re: Event Marketing
Old
 (2 (permalink))
shanoobazad
shanoobazad is an unknown quantity at this point
 
shanoobazad
 
Status: Offline
Posts: 9
Join Date: Feb 2009
Re: Event Marketing - March 31st, 2009

very informative post ...
event marketing has been sumthing i m keen on
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (3 (permalink))
dish99
dish99 is an unknown quantity at this point
 
dish99
 
Status: Offline
Posts: 33
Join Date: Apr 2007
Re: Event Marketing - May 22nd, 2009

event marketinf project 100 mks needed urgently
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (4 (permalink))
asterisq
asterisq is an unknown quantity at this point
 
asterisq
 
Institute: big
Status: Offline
Posts: 15
Join Date: May 2009
Re: Event Marketing - May 27th, 2009

thanks this is very good
I will use this some day
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (5 (permalink))
hypo
hypo is an unknown quantity at this point
 
hypo
 
Institute: MQ
Status: Offline
Posts: 2
Join Date: May 2009
Re: Event Marketing - May 29th, 2009

thanks a lot............................................... ........will be useful someday..............
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (6 (permalink))
DavidDock
DavidDock is an unknown quantity at this point
 
DavidDock
 
Institute: S.R.M.C.E.M
Status: Offline
Posts: 3
Join Date: May 2009
Re: Event Marketing - May 30th, 2009

Hi I'm David Dock.
This is very nice topic.
Event marketing cited as a growing profit area in uncertain times

Confronted by a turbulent economic climate and the changing ways in which audiences consume and are influenced by media to make purchase decisions, the C-suite and boardrooms of major brands are looking to senior marketing and sales executives as a source for innovative sales strategy. According to new research released jointly by the Event Marketing Institute, Meeting Professionals International and the George P. Johnson company, that strategy is event marketing.

For the seventh year in a row, the EventView report provides the data and insight to build a business case for the more central role of events in today’s new marketing framework.

Last edited by bhautik.kawa; January 30th, 2016 at 11:07 AM..
   
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (7 (permalink))
Barkha Prithiani
barkhap is an unknown quantity at this point
 
barkhap
Student of BMS at Birla Institute of Technology and Management Studies, Kalyan
Kalyan, Maharashtra
 
Status: Offline
Posts: 3
Join Date: Nov 2009
Location: Kalyan, Maharashtra
Re: Event Marketing - January 8th, 2010

wow....awesome project...it was of great help....i got wat i was in search of.. THANKXX
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (8 (permalink))
badal39
badal39 is an unknown quantity at this point
 
badal39
Management Paradise Newbie
 
Institute: IFMR
Status: Offline
Posts: 101
Join Date: Jan 2010
Re: Event Marketing - January 15th, 2010

nice,awesome project...it was of great help,thanks indeed
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
 (9 (permalink))
Sachin Chourey
sachinchourey is an unknown quantity at this point
 
sachinchourey
 
Status: Offline
Posts: 99
Join Date: Jan 2016
Re: Event Marketing - January 17th, 2016

Event marketing is the promotion and advertising for major events like sports, movies, etc. Event marketing is a way to earn money in great degree of profit, whenever comes a special event, people are used purchase different kind of products in high quantity. So event marketing is like a funfair where you can can have anything for overcome and fulfill your desires of domestic products.
Friends: (0)
Reply With Quote
Re: Event Marketing
Old
Robin Camryn
camryn643 is an unknown quantity at this point
 
camryn643
Management Paradise Newbie
Status: Offline
Posts: 167
Join Date: Nov 2015
Re: Event Marketing - January 29th, 2016

The activity of planning or developing a themed activity, display and occasion or display (for instance a showing off occasion, audio celebration, fair, or live concert) to promote an item, cause, or company. Also called function design.
Friends: (0)
Reply With Quote
Reply

Bookmarks

Tags
event, marketing


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.