The above is a diagrammatic representation of the above definition. From the model it is evident that an event is a package so the organizer has to provide reach and live interaction between the target audience and the client to achieve the desired impact.Event marketing involves canvassing for clients and arranging feedback for the creative concepts during and after the concept initiation so as to arrive at a customized package for the client, keeping the brand values and target audience in mind. In fact, ideally event marketing involves simultaneous canvassing and studying the brand prints; understanding what the brand stands for, it’s positioning and values, identifying the target audience and liaison with the creative conceptualizes to create an event for a prefect mesh with the brand’s personality.
1. Brand BuildingCreating awareness about the launch of new products/brandEnormous numbers of brand/product is launched every month. Similarly innumerable new music albums, films, etc get released periodically. This tends to create clutter of product launches. The large no. of launches also leads to need to overcome the “ooh-yet-another-product” syndrome. The need to therefore catch the attention of the target audience at the time of launch becomes very important. Meticulously planned events for the launch of a product/brand seldom fail to catch the attention of the target audience.Helping in rejuvenating brands during the different stages of product life cycleThe massive amount of money that is spent during the introduction stage of products gets drastically reduced over time. By the time the product reaches its maturity/decline stage, the need for cutting down the budgets associated with the media campaigns, while at the same time maintaining the customer base is felt. And events offer the best medium for such a focused approach. It helps in generating feelings of brand loyalty in the products’ end user by treating them as royally as possible.2. Image Building Coke is associated with Olympics since 1928, the rationale behind this is similar values and ideologies: International peace, brotherhood, standard of excellence and fun.3. Focusing the Target MarketHelping in avoidance of clutterEven though some events do get congested with too many advertisements, events still provide and effective means of being spotted. For example, Title sponsorship of a major event provides the sponsor immense benefit since the sponsor’s name is mentioned along with the event like Hero Cup, Femina Miss India, Lux Zee Cine Awards. Enabling interactive mode of communicationEvents generally provide an opportunity for buyers and sellers to interact. They also provide a foundation for exchange and sharing of knowledge between professionals. Example: Bang! Linux2000, Auto Expo.4. Implementation of Marketing PlanEnabling authentic test marketingEvents bring the target audience together, thereby creating opportunity for test marketing of products for authentic feedback. The seller can identify exactly the traits and other characteristics that are desired. Enabling focused sales and communication to a captive audienceIn an event the audience is more or less bound to witnessing one particular event. In such a situation it is very favorable for sellers to put forth their presentations without any diversions. Such a situation is very valuable given the ineffectiveness of traditional modes of communication in holding on to the attention of the audience.Help in relation building and PR activitiesPractitioners of this marketing function believe that event marketing campaigns have the ability to create long lasting relationships with closely targeted market segments. Relationship building is not restricted to end user customers but also targeted at enhancing new distributors and sales representative relations. Generate immediate salesMost events let firms install and exclusive boot and give the permission to exploit the opportunity to merchandise. Events such as the annual limited period discount sales from Wrangler and Van Heusen are authentic stock clearance and seconds sales aimed at generating immediate sales. Generating instant publicityAn event can be designed to generate instant publicity upon the implementation of marketing strategy. The e-commerce start up Half.com, which wanted to sell products such as CDs, Books, Movies and Games over the internet was up against major and strong competition. The result of this publicity stunt started the ball rolling towards getting this company purchased by eBay for more than $300 million. Enabling market database assimilation, maintenance and updatingBy keeping track of the reach and its effectiveness as well as interacting with the audience that actually turns up for the event, event sponsors can assimilate and authentic database. The database can be used to track various marketing trends. Events can then help in maintaining and updating the database.
1. Sporting EventsSporting events are held in all towns, cities, states and throughout the nation. They attract international sports men & women at the highest levels.2. Entertainment Arts and CultureEntertainment events are well known for their ability to attract large audience. This includes musical concerts, celebrity performances, movie releases and mahurats etc3. Commercial Marketing and Promotional EventPromotional events tend to have high budgets and high profiles. Most frequently they include product launches, often for computer hardware and software, perfume, alcohol or motor cars. The aim of promotional events is generally to differentiate the product from its competitors and to ensure that it is memorable. The audience for a promotional activity might be sales staff such as travel agents, who would promote the tour of the clients or potential purchasers. The media is usually invited to these events so that both the impact and the risk are high, Success is vital.4. Meetings & ExhibitionsThe meetings & convention industry is highly competitive. Many conventions attract thousands of people, whereas some meetings include only a handful of high profile participants. 5. FestivalsVarious forms of festivals are increasingly popular providing a particular region the opportunity to showcase its product. Wine and food festivals are the most common events falling under this category. Religious festivals fall into this category as well. 6. Fund RaisingFairs, which are common in most communities, are frequently run by enthusiastic local committees. The effort in the organization required for these events are often underestimated. As their general aim is raising funds, it is important that rides and other such contracted activities contribute to, rather than reduce, revenue.
Conceptualization of the creative idea/ambienceCosting involves calculation of the cost of production and safety marginsCanvassing for sponsors, customers and networking componentsCustomization of the event according to brand personality, budgets, etcCarrying-out involves execution of the event according to the final concept
Communication is the process of moving a message that includes different elements. Those elements include source, message, channel, receiver and the process of encoding and decoding. The source is the organization, the message could be a new car launch, the channel could be the event, and attendees are the receivers. A problem many marketers have is to make sure that the noise that can disturb the message going from the sender to the receiver does not interfere with the message, and thereby influence the effect it has on the customer. The direct communication with the customer is one of the main advantages with Event Marketing compared to other marketing channels. In the definition of Event Marketing, it is said that “an event is an activity that gathers the target group in time and room.” This means that the event is eliminated from the noise.Event Marketing is marketing communication in four different dimensions. The first one is the emotional communication method. The Event Marketing is a form of “pull” marketing, where the organizations try to get closer to the feelings and emotions of the customers. They do this not by “pushing” their products at the customers, but by touching the customers’ emotional feelings.The second dimension touches the customers by involving them in activities. When the customer gets a feeling from a product, he/she is informed of the value of the product. An example of this in the car industry is the test-driving of new cars. The third dimension is the intellectual dimension and it regards the relevance of the event for the customers. The fourth dimension is the spatial dimension, how to get the three prior dimensions into action and to inform the customers through all marketing channels. Some researchers say that in the future, customers will not buy just the product, but the meaning, the event and the character, which in turn give the customers the possibility to create their own value for the product.
INTRODUCTION WHAT IS MARKETING? Marketing Tools Tools of Promotion PROBLEMS ASSOCIATED WITH TRADITIONAL MEDIA RELATION BETWEEN EVENT MARKETING AND THE 5P’S EVOLUTION OF EVENT MARKETING
EVENT MARKETINGAn event is a live multimedia package with a preconceived concept, customized or modified to achieve the client’s objective of reaching out and suitably influencing the sharply defined, specially gathered target audience byproviding a complete sensual experience and an avenue for two-way interaction.
EVENTS LIVE REACH INTERACTION Right DesiredCommunic Live Impact ation WITH CREATES Audience from the client
WHY EVENTS1. Brand Building2. Image Building3. Focusing the Target Market4. Implementation of Marketing Plan
TYPES OF EVENTS Sporting Events Entertainment Arts and Culture Commercial Marketing and Promotional Event Exhibitions Festivals Fund Raising
EVENT MANAGEMENT AS A PROMOTIONAL TOOL EVENT DESIGNING Conceptualization Costing Canvassing Customization Carrying-out
ANALYSIS & RESEARCH FINDINGSQ1. Do you participate in events? Interpretation Q1. Do you 16% participate in events? 1. Yes 2. No 84%
Q2. How do you participate? Interpretation: 1. Own events are organized 29%38% 2. Sponsorship 3. Active part through 33% stalls/space in other events
Q3. In which type of event do you participate? 35% 33% 29% 30% 25% 19% 20% 14% 15% 10% 5% 5% 0 0% Interpretation:
Q4. What compel you to participate in any event? (You can choose 2 or more) The event matched my interest. 25% 20% My friend or relative had a 18% positive experience 20% You believe it is the best way for promoting your product Earlier Returns from same event. 30% 25% Cost effective It is the best way to encourage 35% two way communications Way to reach the large no. of target audience.Interpretation:
Q5. How much do you generally spend on event marketing? 33% Interpretation:35% 24%30% 19% 14%25% 10%20%15%10% 5% Series1 0%
Q6. Do you think event marketing is better promotional toolthan other traditional tools (Pressreleases, Articles, personal sales, sales promotion)? Interpretation: 1. Yes 35% 40% 2. No 3. Depen ds on 25% product
Q7. When is the right time as per productlife cycle to participate in events? 38 Interpretation: 40% % 35% 30% 30% 25% 25% 20% 15% 10% 5% 7% 0%
Q8. Does participation in an event helps in generating immediate sales? Interpretation: Immediately within a week 15 2 264 within a month4 within 3 months within 6 months 25 24 More than 6 months Did not purchase
Q9. Participation in events helps you in? Interpretation: 1. Building brand image33% 36% 2. Creating awareness of your product 3. Building 41% relationship with potential customers
Q10. Do you participate in same events? Interpretation: 1. Same17% events 48% 2. Sometimes 35% try different events 3. Always try different events