1.
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Sales Promotion |
· This is a consumer-oriented tool that encourages sales through inducing various marketing activities on direct consumers so as to allow them to act quickly on either making repeat purchases or more substantial purchases. Besides, sales promotion includes marketing activities that aim to add value to products or services for a short period in order to stimulate sales (Todorova, 2015, pg. 371). · This promotional tool is composed of short-term incentives including premiums, loyalty programs, coupons, price reduction, samples, contests and mail-in offers (Promotion Mix, 2018). The incentives only act as supplements and not substitutes for the benefits acquired from the product. · In events, sales promotion can be promoted through giveaways such as free tickets or free promotional goods such as t-shirts or caps. These free giveaways draw people and entice them to attend particular events or do something since people love the feeling of acquiring things for nothing. Giveaways have a positive impact on events. |
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Advertisements |
· This is a form of marketing communication that involves paying in order for a message to be disseminated to many people at one time regarding a brand (Promotion Mix, 2018). Advertisement seeks to persuade or encourage a large audience to take a particular action. · The message or idea in question may be disseminated through print media, televisions, radio, videotape, web page, billboards or posters (Sales and Marketing, 2018). Also, advertisement adds value to the products, and the advertiser has control over the content being advertised. · In events, deciding on the type of advertisement to be employed is crucial and different aspects should be considered. First, identifying the audience to attract. Secondly, investigating the demographics to be reached by the advertisement is also crucial (Hoyle, 2002, pg. 44). · This is because marketing executives promoting larger events may require broadcast media in order to reach both international and national audiences. On the other hand, local events can be advertised through local flyers or newspapers. |
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Public relations |
· It involves communication that is purposed to promote an organization’s image or products through noticeable or measurable effects (Todorova, 2015, pg. 371). The primary objective of public relations is to influence public opinion or achieve an understanding with an audience. · It promotes the value of an enterprise. Public relations may include elements such as news conferences, publicity, and press releases. The goal of public relations may vary depending on the role it plays. For example, the creation of brand awareness, offsetting of negative publicity or displaying the association of sponsors in an event (Hoyle, 2002, pg. 46) · In events, public relation is a crucial aspect since it achieves something advertisements, sales promotion or personal selling can’t achieve. This is because it drives acceptance, cooperation, and understanding on the audience in order to participate in an event. Public relations also assist in discovering partner marketers who aid in marketing an event. |
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Personal selling. |
· This promotional tool seeks to achieve a personal presentation of ideas to a client hence being able to persuade the client to make a purchase (Todorova, 2015, pg. 371). This form of marketing acts as a support for the other forms of the promotional mix while being supported by them. · It is considered the most effective tool for creating buyer convictions about an idea or product. Its relationship oriented since it seeks to achieve a long-term commitment. In events, this tool can be useful in certain settings. For example, when an agency coordinates an event, this becomes an opportunity for personal selling of various brands to different clients hence achieving the objective of the event. |
2. The inverted triangle plays a crucial role in presenting the essential elements of a story at the beginning of a document (Inverted Pyramid, 2018). This model can be considered when writing press releases for events since it allows the skimming of the most relevant information. In writing a press release for an event, I would adhere to the following inverted triangle model structure;
a. Main facts.
In the introductory paragraph, I would include the critical information I would wish to share. In this paragraph, I would highlight what the purpose of the event is, where it would be, when it would be and lastly what my target market is.
b. More detail.
In the subsequent paragraph, I would add more information that expands on my introductory paragraph. For example, I would highlight why the event is a must attend to the group. This would build up my key information for the event.
c. Quote
I would then quote the company or individual organizing the event so as to give credibility of the event. This would make the press release more personable.
Figure 1.1 Source: https://www2.le.ac.uk/offices/external/news/publicising/how-to-write-a-press-release/inverted-pyramid/
d. More detail.
Then I would provide more information on the quote. For example, I would highlight what people are to expect from the event and how they can benefit from it.
e. Quote
On this part, I would highlight more themes and ideas to be addressed in the event in order to expand on the points pointed out earlier. For example, specific themes involved in the event so as to provide a clearer image to the people attending the event.
f. Additional comment.
On this point, I would summarize what has been presented above with an addition of some comments of any information I might have omitted. It acts as the conclusion of the press release.
g. Optional bio
Including an optional bio would be essential since it provides credibility of the person writing the press release (Zhou and Zhao, 2018, pg. 53). Elements such as academic background and events interests would also be crucial. In writing the press release, I would add the optional bio due to the relevance of the event.
3. Marketing planning refers to the process of analyzing marketing situations for the purpose of developing, implementing and controlling marketing activities in order to achieve objectives (Saget, 2006, pg. 121). Since the market situations tend to be harsh due to the changing business environment, advanced planning of the marketing is crucial to every organization in order to provide value to consumers. The marketing plan process for an event includes four distinct elements, and they include; goal setting, situation reviewing, strategy formulation and implementation.
1. Goal setting.
Understanding the purpose of the event is of crucial concern. The goal setting process opens the option to think about different questions. For example; who is the target audience? What is the profit margin expected? Does the marketing plan for to the purpose of the event? This process lays the groundwork for the event (Tay, 2018). Besides, this step of goal formulation should utilize the SMART format of identifying and achieving objectives. This means that the objectives need to be specific, measurable, attainable, realistic and time-specific (Du et al., 2018, pg. 211). After designing the objective of the event, comparing them with the greater vision of the marketing plan would be essential since it will aid in shaping the final plan. In designing the goal of the event, I would consider the following areas;
Before setting up the event, determining what is available or what you have is of crucial concern also. For example, one can use the SWOT analysis tool to determine if planning for the event can be a success. Besides, this will assist in determining if the marketing objectives are attainable (Preston, 2012 pg. 55). In this phase of the marketing planning, carrying out a marketing audit will be key. This will allow the analyzing of the presence of competitors or market conditions for the event to work out. Therefore, if according to the analysis, the marketing of the objectives is unattainable, the objectives will be reevaluated (Du et al., 2018, pg. 213). In this stage, I would consider the following elements in order to analyze the situation critically;
After conducting the situation analysis, strategizing on the marketing plan will be significant. The strategies will assist in identifying tactics to be used in approaching the target audience. The strategies chosen for the event should automatically be flexible and affordable (Saget, 2006, pg. 69). Different tactics including the marketing mix, market segmentation and also risks will be considered. The plan must be able to identify effective procedures of applying the marketing mix tools, segmentation, and other factors in order to reach and influence more people. In this phase, I will consider the following in formulating the strategies;
In this phase, all steps outlined are put into action. The other steps act as a guide for the event to be actualized in order to achieve the objectives set (Tay, 2018). However, remaining flexible is essential due to changes in consumer response, risks, or competitive partners. When implementing the event, I would consider the SWOT analysis since it would provide the necessary aspects to consider in case of risks or threats that would lead to failure. Besides, I would ensure the objectives are achieved hence determining the impact of the event.
4. Companies might choose events for different reasons. They include;
Brand awareness.
If a company is able to get in front of a large audience through sponsoring a broad audience, it would rather sponsor the event in order to display its brand visuals to the audience who have never heard of the company. The bigger the event, the better it will be for the business since it will gain more media exposure (Higgins, 2016).
Repositioning of a brand.
Events are crucial for business since they are able to alter the public perception of a brand (Higgins, 2016). This allows the consumers to love, cooperate and support the brand hence helping the business in question to compete better in the market.
Social responsibility.
Companies desire to sponsor events so that their brand may align with a particular cause that consumers are passionate about. Businesses want the world to know that they care about their customers and the community at large (Higgins, 2016).
However, companies might desire various things in order to sponsor the events. One, exclusive access to sell what they want to the audience. For example, since McDonald’s was a long-term sponsor of the Olympics, they had exclusive rights to sell chips and other products on the Olympics parks while others were banned (Five sponsorship deals that went wrong, 2018). Two, the company may demand that their promotional materials such logos, banners and other materials be structured in a particular way such that their image is enhanced in the event massively (Grohs and Reisinger, 2014, pg. 1021). Lastly, in case the event hosts some celebrities, the companies may desire to have access to them in order to promote their brand.
An event organizer should not accept any sponsor due to different moral and ethical decisions. One, we have age. Different sponsors sponsor events are adult based hence may affect young people morally (Messner and Reinhard, 2012, pg. 249). Two, we have gender. This is crucial since equality promotes justice. However, events that seclude a particular gender may be harmful to the audience. Lastly, we have race. Different races of people should not be discriminated against through organizing racial-related events. The events should support all races.
References:
Carswellgould.co.uk. (2018). Five sponsorship deals that went wrong | Carswell Gould – Integrated Creative, Digital, PR, Marketing Agency. [online] Available at: https://carswellgould.co.uk/news/five-sponsorship-deals-went-wrong [Accessed 3 Sep. 2018].
Du, F., Malik, S., Koh, E. and Theocharous, G., 2018, April. Interactive Campaign Planning for Marketing Analysts. In Extended Abstracts of the 2018 CHI Conference on Human Factors in Computing Systems (p. LBW006). ACM. pp. 199-237
Grohs, R. and Reisinger, H., 2014. Sponsorship effects on brand image: The role of exposure and activity involvement. Journal of Business Research, 67(5), pp.1018-1025.
Higgins, R. (2016). 5 Reasons Brands Want to Sponsor Your Event. [online] Eventbrite US Blog. Available at: https://www.eventbrite.com/blog/5-reasons-to-sponsor-your-event-ds00/ [Accessed 2 Sep. 2018].
Hoyle, L.H., 2002. Event marketing: How to successfully promote events, festivals, conventions, and expositions (Vol. 2). New York: J. Wiley. pp. 41-48
Messner, M. and Reinhard, M.A., 2012. Effects of strategic exiting from sponsorship after negative event publicity. Psychology & Marketing, 29(4), pp.240-256.
Open.lib.umn.edu. (2018). 11.2 The Promotion (Communication) Mix | Principles of Marketing. [online] Available at: https://open.lib.umn.edu/principlesmarketing/chapter/11-2-the-promotion-communication-mix/ [Accessed 2 Sep. 2018].
Preston, C., 2012. Event marketing: how to successfully promote events, festivals, conventions, and expositions. Wiley. pp. 43-89
Saget, A., 2006. The event marketing handbook: beyond logistics and planning. Kaplan Publishing. pp. 54-149
Sales and Marketing (2018). Marketing Communication Mix Overview and Guidance. [online] Available at: https://www.sales-and-marketing-for-you.com/marketing-communication-mix.html [Accessed 3 Sep. 2018].
Tay, T. (2018). The Marketing Planning Process: Four Steps to Success. [online] Blog.udemy.com. Available at: https://blog.udemy.com/marketing-planning-process/ [Accessed 2 Sep. 2018].
Todorova, G., 2015. Marketing communication mix. Trakia Journal of sciences, 13(1), pp.368-374.
Www2.le.ac.uk. (2018). Inverted pyramid — University of Leicester. [online] Available at: https://www2.le.ac.uk/offices/external/news/publicising/how-to-write-a-press-release/inverted-pyramid [Accessed 3 Sep. 2018].
ZHOU, R. and ZHAO, Y., 2018. A STUDY OF GENERIC INTERTEXTUALITY IN CORPORATE PRESS RELEASES. Journal on Management, 12(4). pp. 45-67
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