CHAPTER 3The Market for Events

and The Event Stakeholder

 

Classification of EventsSocial Corporat

e Events

The Event Market may be Segmented into:

1. Individuals and Families - This segment is the typical prospect for life cycle events.

Sources of business for this segment are:Local civil registryChurchesBridal fairsWedding suppliersReferralsPrevious clients

2. Organizations - This segment is typical prospect for events to convene and events for commerce – or commonly referred to as corporate events.

This is the market for meetings, seminars, conference, conventions, product launches, bazaars, selling events, sales promotion activities, office parties, incentive trips, and recreational activities.

Two ClassificationCompanies & Business Establishment

Association & Organization

Two classifications:

a. Companies and Business Establishments may have events as part of their operating calendar (as in the case of annual meetings or quarterly sales rallies), or in response to the demand of their products (for product launches and promotional activities).

b. Associations are organizations of people that have a common interest or purpose (abbey,2003)

Three Categories

1. Trade Associations - made up of individuals and corporations that operate within an industry, or are bound by similar business concerns.

2. Professional Association - formed by individuals in a common or affiliated profession.

3. Non-Profit Organizations - include social, military, educational, religious, and fraternal groups or SMERFs.

 

Events Stakeholders

Event Stakeholders are individuals and groups who have some forms of interest in the event. Such interest may be financial, emotional, political, social or any form of personal involvement in the event.

The Host - this is the group of people or person who is giving the event.

-The host may be the originator or champion of the idea to gather people together for a particular occasion; the main celebrator; or the financing all the expenses for the event.

-The host is the client- the group or person whom you are to get direction from.

-The host is also a partner with whom the event manager works to ensure a successful event.

Cont…The Guests - These are people attending the

event; they are variously called audience, participants, attendees, or visitors.

  The Event Committee - This refers to the

group involved in the planning and execution of an event.

-This can be an ad hoc group of the host’s organization, a team of volunteers, the host’s staff, plus, the event manager’s own team.

Cont…The Financer - This is the money man

- the one who foots the bill.- He or she may or may not be

involved in the planning and execution of the event, but he/she is out to make sure that he/she gets a reasonable return on his/her investment.

The Supplier - The event manager works with other companies that will bring the event concept into reality.

-These companies also stake their time, resources, and reputation on the event.

Cont…The External - These includes other

external entities to the host or the event manager, but have financial, emotional, political, social or personal interest in the event.