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in event planning ]
Market Research
Before organizing an event, find out whether there is a market
(i.e. audience) for your intended event or not. For e.g. you
want to organize a fashion show in Oman. If people there have
little or no interest in fashion shows, then it is not a good
idea to organize such event there. The event will fail for sure.
Market Analysis
If there is a market for your intended event, then do market
analysis. Market Analysis means finding information about your
target audience. Find out who are your target audience i.e.
there age group, sex, qualification, profession, knowledge level,
income, status, likings, disliking, personality, customs, traditions,
religion, lifestyle etc. Knowing your target audience's customs,
traditions and religion is very important so that we don’t hurt
there customs and religion unknowingly through our event. For
e.g. if you organize a Hindu wedding and serve beef there, then
u will be in mortal danger as cow is considered as a sacred
animal in Hindu religion. Similarly serving pork in a Muslim
function can bring havoc. Find out where majority of your target
audience live so that you can direct your marketing efforts
towards them. There is no point in advertising across US if
your target audience belongs only to New Jersey. In this way
you can cut down your advertising and marketing cost tremendously.
Find out what are the desires and expectations of target audience
from your intended event. Find out when (i.e. date and time)
and where (i.e. venue) they want the intended event to take
place .For this you will have to do survey. All this information
will help you in developing a better event plan.
Competitors' Analysis
It means finding information about your competitors. Find
out who are your competitors .i.e. there age, sex, qualification,
knowledge level, experience in organizing events, turnover,
market value, PR (media and corporate contacts) and market share.
Find out how there promote and execute there events. What they
do in there events? Why people come to there events? For this
you will have to attend each and every event organized by your
competitors and then create an event report. The event report
will contain things like seating and light arrangement, promotional
materials used, blueprint of the whole venue, program and food
menu and contact details of sponsors, partners, clients (for
whom the event is organized) and service providers like DJs,
Anchors, Make up artist, Performers, photographers, videographers,
decorator, florist etc. Find out as much information as possible
about events organized by your competitors.
