A Study on Event Marketing as a Promotional Tool
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CHAPTER IINTRODUCTION1.1 INTRODUCTION OF EVENT MARKETING“We GENERATE Quality Business LeadsWe ENHANCE Your ProfileWe CREATE New Business OpportunitiesEveryone Knows Us as EVENTS”An event marketing is a design or the developed activity made for certain event that displays or exhibits like sporting events, music fests and events, art events or any concerts and fair in order to promote other activities such as products and services, organization or any cause is known as event marketing. It can also be called as event creation.Event marketing helps to increase the awareness about the brand. Large population agrees that event marketing generates high sales and builds long term relationship with its customers. The five important principles of event marketing are as follows:Participants should be right in event marketing where right people or organization should be identified as exhibitors or presentersVenue should be accessible and chosen at right location to perform even that is more convenient to the customersIt is important to attract visitors, identifying target market events to learn more about the products, attending seminars or workshopsCommunication plays a key role where social media can be used like facebook, twitter etc for the latest news of eventsBuilding up relationship with customers is another principle of event marketing by communicating with them helps to market future events.Event promoting is imperative on the grounds that the customers today likes to interface with the brand which they are faithful to. It knows one of a kind identity of the brand you utilize and allows meeting with clients and knowing input. It by and large makes clients a portion of your reality. Event showcasing is unmistakable from publicizing, deals advancement, purpose of-procurement marketing, or advertising, however it for the most part consolidates components from these special instruments. Event advancements have a chance to make progress on the grounds that, dissimilar to different types of promoting interchanges, events contact individuals when they are open to advertising messages and catch individuals in a casual climate. Event showcasing is quickly becoming speedier at a rate of three times that of publicizing utilized customarily. Despite the fact that moderately little contrasted with the significant segments of the showcasing interchanges blend publicizing, deals advancements and P-O-P correspondences uses on event sponsorship are expanding. Corporate sponsorships in India in 2001 were assessed at $3.9 billion-with 65% of this aggregate going to games events and the majority of the rest of on supporting stimulation visits or celebration and fairs. A huge number of organizations put resources into some type of event sponsorship. Event advertising is a type of brand advancement that binds a brand to a significant athletic, excitement, social, social or other sort of high-intrigue open movement. Event advancements have a chance to make progress on the grounds that, not at all like different types of promoting interchanges, events contact individuals when they are responsive to advertising messages and catch individuals in a casual climate.
Event advertising is becoming quickly in light of the fact that it gives organizations different options for the jumbled broad communications, a capacity to section on a nearby or territorial premise, and open doors for achieving tight way of life gatherings whose utilization conduct can be connected with the neighborhood event. MasterCard put an expected $25 million in supporting the nine-city World Cup soccer title in the United States in 1994 and will probably support other huge events in numerous nations as well. Olympics and its famous five rings seem to be “the worlds best property” as far as advertising devices. The Olympics offer sponsorship on a neighborhood and worldwide premise, and each couple of years companys line up to pay as much as $50 million to be the ruler of the rings. The Atlanta amusements in 1996 have a reported $3 billion in the bank as an aftereffect of arranging sponsorship, telecast, and licensee charges. The Olympics speaks to the crème de la crème of event advertising and corporate sponsorship. Event promoting is a lucrative round of “whats in a name”, as customers buy tickets and open themselves to everything. The universe of event showcasing is a quickly developing, prominent industry worth over $20 billion every year, and a standout amongst the best promoting procedures. Event showcasing coordinates the corporate sponsorship of an event with an entire scope of promoting components, for example, publicizing, deals advancement, and advertising. Companies both vast and little have developed this industry at a rate of 17 percent for each year, and they have accomplished an abnormal state of achievement.1.2 CONCEPTUAL FRAMEWORKWhat is Marketing?Marketing can be defined as a procedure by which individuals and groups acquire what they need through creating, offering and exchanging products of value with others. Marketing ToolsThe “marketing mix” or marketing tools an organization can use can be categorized into four categories:Product Price Place Promotion Tools of Promotion Advertising Public Relations Direct marketing Word of mouth Hospitality Advertising Advertising It is the controlled method of communicating the message. The event manager can control the message. It includes the following: Give-Away : Leaflets, Posters, Brochures Radio : Commercial, Community, National Internet : Web Sites, Radio Television : Cable, Free To Air, Satellite Press : Newspapers, Magazines Non-Media Alternatives: Outdoor Advertising, Street Banners, Aerial, Innovative It can be done by the event manager or, if the event and promotional campaign is too big, by an appointed advertising agency. Public RelationsFrequently, it is a piece of the event directors business to increase greatest presentation for the event. PR is not as same as the promoting in that it is not self acclaim but rather conveys the quality of uninvolved believability. It imparts a more perplexing or erratic message than promoting. It is free however the event director loses control over the outcome. To this end it is vital that the event administrator keeps up control over however much of the advertising as could be expected. Careful information of the medias prerequisites and valuable cooperation with the media work force are sensible techniques. For an entrepreneurial event it would include: