Events Management

Topics: Marketing, Event management, Olympic Games Pages: 38 (12644 words) Published: February 8, 2011
EXECUTIVES SUMMARY

Whether an event involves 10 people or 10,000 the process remains identical to all events. There are 3 main steps that are part of the process: Planning, Implementation and Evaluation. Before an event can be planned a concept needs to be identified. With increased regulations and government involvement in events, the environment of which events are staged has become much more complicated. Stakeholders have to be identified and their needs and objectives to be met. A stakeholder is an individual or organization who has an interest in an event. The chief stakeholder is the host organization. This could be a local government staging an annual event. It also could be a corporate organization that is staging an event to raise their profile or promote goods or services. The community participating is also vital.

Event managers must understand the values and traditions of the community and their impact on the event and vice versa. Sponsors are another crucial stakeholder. Event managers need to cooperate with them effectively to create a successful outcome for both parties. Media coverage can make or break an event as the media reaches a wide sometimes global audience. The media influences people's perceptions of an event therefore the event organizers have to effectively work with this stakeholder to optimise coverage and the impact of the event. The last stakeholder who is equally important is the event participants. It is the event organizers' priority to ensure that they enjoy the event experience. When developing the event concept essential questions need to be addressed. Goldblatt (1997) suggests the ‘Five W's' are essential questions: Why is the event taking place? Who are the stakeholders? Where and when will the event take place? What is the event's purpose? This identification process is useful to our event as it will guide us through decisions and make clear what our objectives are. It will also keep the group focused on the objectives.

INTRODUCTION TO EVENT MARKETING
Event marketing is growing at a rate of three times that of traditional advertising. Event marketing can be defined as a form of brand promotion that ties a brand to a meaningful athletic, entertainment, cultural, social or other type of high-interest public activity. Event marketing is distinct from advertising, sales promotion, point-of-purchase merchandising, or public relations, but it generally incorporates elements from all of these promotional tools. Event promotions have an opportunity to achieve success because, unlike other forms of marketing communications, events reach people when they are receptive to marketing messages and capture people in a relaxed atmosphere. Event marketing is growing rapidly because it provides companies alternatives to the cluttered mass media, an ability to segment on a local or regional basis, and opportunities for reaching narrow lifestyle groups whose consumption behavior can be linked with the local event. 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. Marketing plays an important role in pricing and negotiations as well as identifying opportunities to define and retain event properties by gathering marketing intelligence with regard to pricing, timing etc. Olympics and its renowned five rings are “the world’s most effective property” in terms of marketing tools. The Olympics sell sponsorship on a local and global basis, and every couple of year’s corporation’s line up to pay as much as $50 million . The Atlanta games in 1996 have a reported $3 billion in the bank as a result of negotiating sponsorship, broadcast, and licensee fees. The Olympics represents the creme de la creme of event marketing and corporate sponsorship. Event marketing is a lucrative game of “what’s in a...

References: List ;
Wikipedia The Free Encyclopedia (2004)
http://en.wikipedia.org/wiki/Olympic_Games#Ancient_Olympics
The Olympic Museum (2007)
www.event-planner.com
Arthur Anderson / CREA (1999) "Economic Impact Study of the Sydney 2000 Olympic
Burman, E. “Managing Cultural Diversity In a Global World”. Retrieved July 10, 2007, from http://www.workinfo.com/free/Downloads/299.htm.
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