Summary
Summary Unit 4 Assignment 2 Managing an event
- Module
- Unit 4 Assignment 2
- Institution
- PEARSON (PEARSON)
Unit 4 Assignment 3 Managing an event Learning aim B and C met (P3, P4, P5, P6, M2, M3, D2) Distinction Awarded
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Learning aim B: Investigate the feasibility of a proposed eventP3: Investigate the staging of several events to determine common success factors
Business events:
Business events is when an event is planned and set up with a purpose of meeting business goals
and objectives out of it. For example, raising brand awareness is 1 reason why many businesses
would set up events by showcasing their goods and services towards its audience in hopes of
experiencing a potential increase in sales revenue from excessive use of enthusiastic, convincing
tone of voice describing whatever the business is displaying in detail.
Conferences
A conference is an event that is similarly a meeting amongst colleagues, but it is done to a greater
audience. The purpose of conference is to typically to discuss about a topic that resolves around the
company with a speaker being the representative of the business to speak about the importance,
features in relation to the topic that the speaker will discuss to its audience with an intention of
engaging its audience with excitement the topic offers or as a way of gathering ideas that could be
implemented to the business. An example of a conference would be Samsung releasing upcoming
news about products that will be released soon, showcasing the excellent up to date features that
comes along with it to entice its consumers becoming more likely to purchase their products from
the demand of being able to witness something that’s in its latest trend that allows Samsung to
increase their sales revenue that can cover the costs of marketing, cost of production and more
innovation, etc.
The common factor for success from conferences is the enthusiasm shown by the speaker, stating all
the exciting features that grasps the audience’s attention and the commitment shown from the
persistent amount of innovation to ensure that the products Samsung sells does not fail to impress
and given the fact that Samsung is an established brand that’s been active for many decades, it will
only encourage consumers even further to buy products from them.
Exhibition
Exhibitions are places where a business will launch their new products or try ideas that have yet to
be done by others. Exhibitions’ purpose is to raise brand awareness of the products the business is
looking to release their new products by displaying various different types of products towards the
audience for passers-by to see. This serves as an opportunity for the business to showcase their
products without having to do anything extra as they will only showcasing where the exhibition
takes place, showing the capabilities of the products. Moreover, this is a great way for potential
consumers to see the new products in person without having a fear of purchasing a product that
may not meet their expectation. This would then increase the likelihood of consumer spending as
they will know exactly what they are spending their money on.
An example of this is small businesses showcasing their products that aren’t relatively well-known
compared to its competitors as exhibitions are helpful due to recent business start-up making this
event a good cost-effective method of raising brand awareness that will not be costly. The common
factor for success from this event is the amount time and care spent on displaying and revealing
their products in a way that audience will take an interest in the products being sold and as well as
making sure the event to be successful, so reputation won't be affected and to ensure people will
have an enjoyable experience in looking at their products.
,Product launches
Product launches is a business’s well organised effort in bringing a new or updated product into the
market with a full purpose of increasing brand awareness for consumers to become wary of, by
building excitement for potential consumers that can lead them to become encouraged to spend
money on the products promoted due to the anticipation built up from promoting. Additionally,
product launches are a great way for consumers to have a closer look at the products to give them
reassurance that can allow them to decide whether they should spend their money. For example,
able to see a mobile device with a hands-on experience of what the phone is like, the features it has,
etc. In some cases, product launches can sometimes allow consumers to have an early access on the
products before everyone else which can potentially increase the likelihood of brand loyalty
amongst consumers with early access as they will have a sense of exclusive feeling having something
only available to them that no one else have yet. Product launches can be done either physically that
can only see in person or virtually that can be seen online. An example of a product launch would be
Samsung have a YouTube live stream of what products that they have upcoming or the latest
updates that is going to be introduced in the upcoming days done in their own channel. This is a
great way to display products and updates because since it’s done online, everyone will be able to
easily access to Samsung’s in their own comfort without having to leave their homes to watch the
product launch in person. As a result, will satisfy people being able to see it online for free and will
allow Samsung’s promotions reach a wide audience leading to more potential customers looking to
buy. Moreover, this can also make Samsung more appealing alternative in buying product than its
direct rivals as consumers will be able to know and see what products Samsung is launching that can
allow them to make a more informed decision without having a fear of paying for something that
may not meet their expectations.
The common success factor for Samsung’s product launch is the fact they can reach a wide range of
audience which can help increase existing customer spending or have increased number of new
customers buying their products from the amount of brand awareness raised from many social
media platforms not just only YouTube. Moreover, having variety of speakers representing the
company to prevent boredom amongst audience being able to listen to more than 1 person. In
addition, having speakers to have an enthusiastic tone and convincingly speak in relation to the
product launch to create an emotional connection with audience.
Trade shows
Trade shows is when there's a gathering of businesses and professionals that all come together in 1
location with a same interest of wanting to showcase their latest products for the visitors to see in
hopes of taking an interest so that they can generate sales. Trade show is generally done by
displaying and demonstrating what their products do and the features that comes with it in detail
similarly to exhibition, that can answer all of the audience’s questions without the need to answer
questions 1 by 1 to save time and it would take place in many cities annually that normally last for at
most 3 days with some trade shows to last even further (5 days). An example would be Samsung
attending trade shows in attempt to have the customers take interest in the products they’re
presenting and as well as in hopes of them purchasing their products that can allow them to
generate sales revenue by explaining what the benefits that a Samsung product would have over its
direct rival (Apple), stating its quality and pricing. Trade shows can be a great way to market your
products because trade shows would often have a huge number of attendees, attending for the
incentive of being able to look around at many businesses in 1 location with an intention to see
which pique their interest and learn about new exciting products. Moreover, trade shows is also
,great way to increase business sales as it has statistically been shown that 49% of trade show
attendees will plan to buy at least 1 product or service on display.
Therefore, the common factor for success with trade shows is more attendance in trade shows will
mean increased likelihood of brand awareness of the products businesses display that would then
lead to a potential increase positive word of mouth as consumers may be amazed with the
functionality the products offer when seeing the products in person and the better chances in
making sales. Another common factor for trade shows success is the amount of time and effort
invested into making sure that the trade show is adequate enough to be operated with a goal of
having everything within the show to be well organised in terms of conditions interior to reduce
hazards and the amount of space needed for visitors to enter without being crowded.
Shareholders’ meetings
Shareholders meetings is a gathering of shareholders of the company on a yearly basis to present an
annual report discussing the performance of the business and the strategies that needs to be
implemented to increase volume of sales. The purpose of shareholders meetings is to allow existing
shareholders to decide whether they should continue investing with the business currently or leave
for a better alternative that will be able to give them a higher return in dividends and as well as
having the right to voice out their opinions through a voting poll as they share a small part of the
company such as being able to have the ability to vote out a particular manager, CEO before their
contracts ends.
The common factor of shareholders’ meeting is that shareholders will all be gathered in 1 place to
discuss issues and voice out their opinions in what needs to be done next, in hopes of the business
to perform better and how to improve. As a result, there will be a clarity what needs to be done in
order of importance based on the number of votes and agreements amongst shareholders which
allows consistent democracy within the business that can continue prevent conflicts from occurring.
Press conference
A press conference is a media event in which notable individuals would attend to have a discussion
which is normally organised by an organisation or professionals in advance to distribute the
information to large scale of people to make them aware of the topic they will be discussing. The
press conference would have 1 or more speakers that would be asked to answer questions or speak
about topic in relation to the press conference towards the audience in person or virtually (media)
and it would normally take place at an area that can be easily accessible without hassle and viewed
by visitors and have sufficient size to accommodate a large number of attendees according to the
amount of press conference tickets been sold. An example of a press conference that is successful is
a famous upcoming boxing fight between 2 professional boxers by the names of Floyd Mayweather
and Conor McGregor taken place on August 26 th, 2017, which was one of the biggest fights in
combats sports history with both fighters having a formidable history in boxing possessing
commendable boxing records throughout their boxing careers. Consequently, made the boxing fight
greatly anticipated as both fighters were very famous in the boxing industry that will then have the
press conference end up to becoming very successful with both fighters building up the anticipation
through series of continuous trash talks at one and another that fuels up the excitement that has led
increase demand for tickets with the audience later become known as the “Money Fight” due to the
large amount of sales the fight that has reportedly generated with $600 million, becoming the 2 nd
most biggest boxing event in terms of revenue. Moreover, another reason why its successful is the
event being well organised with venue being large enough to accommodate the audience and also
having a speaker that had the capability to boost the popularity of the event further which at the
time was Dana White who was able to further engaged the media that has led the fight to become
, more increasingly popular by asking instigating questions for both the 2 fighters to answer that led
to them arguing angrily. Therefore, the common factor for press conference is media attention
because to have the fight live up to its hype, it will require a lot of people to becoming more aware
of the fight that will lead to a numerous discussions and conspiracies of the fight which will be
accomplished by having the event to be promoted on several different social media platforms so
that there will be many talks amongst the audience such as questioning who will win that can
ultimately have the fight become popular due to excessive word of mouth relating to the main
event.
Awards evening
Awards evening is a type of ceremony where many people would gather in 1 place to hold a speech
and to congratulate to those who had accomplished many feats in a year whether it's an individual
or business to show gratitude and respect, to make them feel valued for their work. During the
awards evening it would normally have 1 or more speakers to announce the winners of a particular
award and briefly outline the achievements they’ve achieved in a well energised, articulate (to help
people understand) tone to ensure that the day they receive their award is a night to remember and
the same for the viewers who are watching in person or online being able to know more about the
award winner with interest. Moreover, the purpose of awards evening is to set an example of what a
role model is truly is towards the audience to learn something out of them for motivation as an
inspiration. An example of an awards evening is The Best FIFA Football Awards which is currently the
second most prestigious award in football that takes place on a yearly basis around January given to
individuals for both male and female which is organised by the sport’s governing body FIFA.
Therefore, the award would be greatly anticipated by both the fans hoping that their favourite
player will win and the players hoping that they’ll win to demonstrate their footballing achievements
in a given year. The award would be determined by a voting poll decided amongst media
representatives, national team coaches and national team captains. During the awards evening, the
venue should be considered as it will require the place to be safe and clean for visitors and the
nominees to prevent hazard. Moreover, the venue should take place where everyone can have a
memorable experience and would typically take place in a city where it's filled with luxury to show
importance of the award. Additionally, the event should be live streamed online in consideration of
the people that are staying at home to watch the award ceremony that do not have the opportunity
to see it in person. This will allow the fans around the world to feel satisfied making the event
ceremony to be reputable and successful with the amount of media coverage relating to the event.
The common success factor for this event is the amount of popularity the award ceremony gained
from several formidable football players attending the awards ceremony, the media attention it has
gotten from the anticipation of the award with many discussions which player is the rightful winner.
Moreover, because of the sport being hugely recognised around the world and popular with people
due to the sport being able to be played anywhere. Hence, makes this awards evening very
successful.
Team building
Team building involves group of people contributing with all having the same goal in mind to
accomplish tasks and objectives together. An example of this would be a meeting would be held
within a business, normally take place when it needs to remain competitive in the market or attempt
to increase more sales for a higher net profit by considering many factors essential to accomplish
these objectives such as responding to consumers' needs and wants to encourage consumer
spending within their business and retaining brand loyalty. Therefore, the purpose of team building
is to allow businesses to meet their objective at a faster pace with multiple members being on board
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