QUESTION

 

1. Task: Plan the marketing and advertising strategy for a mock event based in the historic City of Chester. Choose one of the following:
   1. Launch of a sustainable product
   2. Outdoor Rowing Gala
   3. Charity fundraiser for a social enterprise
   4. International Business evening event

2. Structure – Report

Your report should have the following sections:

Suggested section word counts are a guide and may differ slightly depending on your event.

1. 1. 1. 1. Introduction

Introduce your event outlining including: the date, time and location. [words 100-120]

1. 1. 1. 2. Event Plan
            Describe your plan for the actual event. Include a Gantt chart to illustrate aspects such as what will be available, what will be happening, and what makes it a unique event [words 150-200]
         3. Target Audience

Identify your target audience and explain, using market segmentation, why you have picked this audience [words 150-180].

1. 1. 1. 4. Marketing Plan

Describe your advertising plan. Justify its methods and timescales using the Marketing Mix [words 500-550]

1. 1. 1. 5. Financial Break Down

Summarise the choices available for raising funds to finance the project e.g. sponsorships, business partners, grants and short-term bank loan. Describe the approach to negotiating the funding. Include a cash flow forecast and a potential Profit & Loss account which lists the estimated cost of marketing and resources. You may want to use tables in this section where appropriate. [words 350-400]

1. 1. 1. 6. Conclusion

Reflect on the entrepreneurship that would need to be demonstrated in planning this event. What leadership skills are needed to successfully run your event? Link this with relevant theory. [words 150-200]

1. 1. 1. 7. Reference List (APA style)

Note: You are encouraged to include tables, models, and diagrams. These must be appropriately referenced. You may choose to use additional subheadings.

3. Word count

The word count is 1500 words (+/- 10%). Refer to the Module Handbook for guidelines on word counts.

4. Specifications

As stated in the Module Handbook, the project format should comprise the following:

• Use the title page provided by your lecturer. On this page you should be sure to include: the title of your work, your assessment (J) number, the module title and code, your final word count and the submission deadline for the work.
• Include a footer or header with your student assessment number, the module title and code.
• Word-processed work must use:
  • 1.5-line spacing
  • Arial font style
  • Font size 12
  • Standard margins
• All references should be constructed using the APA referencing system. APA Reference Guide and Information can be found here:

• • • https://portal.chester.ac.uk/lis/SiteAssets/FindingInformation/APA%20full%20guide%202017.pdf
    • https://portal.chester.ac.uk/lis/Pages/FindingInformation/Referencing.aspx

• • It is expected that your writing will conform to Standard English in terms of spelling, syntax and grammar.
• Use academic English, i.e. avoid using the first person such as I, me and in my opinion.

5. Grading

• Your report will be assessed and graded according to the criteria on pp. 3-4 of this document.
• This assessment is worth 50% of your overall Introduction to Business module grade.

6. Learning outcomes assessed

• LO4 Apply relevant theory, write up a mock event that demonstrates an understanding of entrepreneurship, marketing and advertising, and leadership skills.

7. Submission procedure

The assignment must be submitted electronically to the assigned Turnitin submission inbox on the Moodle module page via the University of Chester Portal before 1pm on the day that it is due.

Any late submissions will result in a 5-mark deduction per 24 hours (or part thereof).

Submissions must consist of .pdf or Word (.doc or .docx) files. If you have problems uploading, it is advised that you save the final piece as a .pdf and submit the .pdf to Turnitin.

Submissions in the wrong file type will not be processed or marked. If Turnitin does not accept your submission because it is the wrong file type, this will not be an acceptable reason for mitigation (Section 7.3 of the Assessment Regulations).

 

 

ANSWER

 

PLANNING THE MARKETING AND ADVERTISING STRATEGY FOR ROUND THE TABLE NETWORKING EVENT AT CHESTER RACECOURSE

Executive summary

This report focuses on the round table networking event which is going to be arranged at Chester racecourse by the West Wales and West Cheshire members of commerce. The planning, marketing, advertising along with fixing budget are discussed in this current report. Several phases have been considered to organise an effective and successful networking event for the organisation WCNW chamber. There is the entire budget report prepared for the upcoming event of WCNW which is going to be organised at the Chester racecourse.

1. Introduction

Networking is basically a socio economic activity where the business people meet to communicate, build relationships, create and recognise business opportunities and scopes. It is process to share information and consult. Round the table is a common form of networking where participants and invitees discuss and debate on a particular topic in order to have an illustrated idea. This report focuses on the round table networking event which is going to be arranged at Chester racecourse by the West Wales and West Cheshire members of commerce. The planning, marketing, advertising along with fixing budget are discussed in this current report.

2. Event Plan

Several phases have been considered to organise an effective and successful networking event for the organisation WCNW chamber.

Defining the purpose:

According to Chien, Kelly & Gill (2018), the purpose of an event has to be clear to the organiser. This makes the strategy making process easier. In the case of this particular event the purpose is to discuss and debate on promoting the business of WCNW regionally, nationally and globally in order to enhance their economic growth and prosperity.

Deciding the format:

As per the views of Huang (2016), round the table format is an important and famous format for networking with the chamber members. This is an excellent way to establish business connections. Here in the event of WCNW this format is going to be used.

Outlining budget:

In case of planning an event the fixation of a particular budget is necessary. For the event for the WCNW chamber members the budget is considered to be £40,000 which includes all the expenses related arrangements and marketing of the event.

Selecting Venue:

Particularly for this event the selected venue is Chester racecourse which is considered to be an excellent spot for arranging such events (Eventbrite.co.uk, 2019). It has a great space to arrange the event and the location of it is very much suitable and accessible for the business personnel. [Referred to Appendix 1]

Selecting date and time:

Zappas, McMahon & Bohnert (2018) stated that at the initial stage of planning the date and time of the event has to be decided as according to that further planning will be done. The date of WCNW event is decided to be 4th of September, 2019. This event is going to be conducted in the morning and hence the time set is 8.30-10.30 BST (Eventbrite.co.uk, 2019).

Promoting event:

The event needs to be promoted in order to reach the current members of WCNW. Hence for that purpose the event is promoted and marketing is done in a proper way. McCabe (2017) stated that Social media, newspapers, LinkedIn, professional and personal groups and official websites are used in the promotion of this particular event.

3. Target Audience

The organisation West Cheshire and North Wales Chamber of Commerce is organising the networking event in the round the table format at the racecourse of Chester.

They are welcoming the members of WCNW chamber having the business cards. There is a necessity of having business card in order to participate in this event. The non members of the chamber can also attend but only a single event prior to joining (Eventbrite.co.uk, 2019).

The offer of participating in this particular event is not for the previous members of WCNW chamber. Hence for this particular networking event of WCNW chamber there is a particular audience base which are about to be targeted during the marketing of this event.

4. Marketing Plan

Meredith (2016) stated that there are several theories related to the marketing an event. Out of all McQuail’s mass communication theory is incorporated in the marketing strategies of WCNW event.

McQuail’s communication theory is based on the media effects on the people (McQuail, 2015). This effect is judged on the basis of intentionality and time period. The mass communication can have both planned and unplanned effects which can last for a short and a long period of time. The propaganda, individual response, news learning are considered to be planned and short term effect. On the other hand news diffusion, innovation diffusion, knowledge diffusion are long term planned effects. Reaction of individual, policy effects are unplanned short term effects whereas social control, event outcome, cultural change are the long term unplanned effect of an event. [Refer to Appendix 2]

According to Smith et al. (2015), there are several possible strategies which can enhance the marketing of an event.

Early bird discount:

This is a process where the discount system works by astonishing ticket sales in order to rise in the price as it gets closer to the event. This will enhance the people’s interest to register early. Hence the WCNW chamber can apply this scheme to increase the number of people’s participation.

Pre-event page:

According to Gavinelli, Morra & Di Gregorio (2016), creating a pre-event page is effective in order to build up the interest among the target audience. WCNW event has applied this strategy and created a pre event page.

Blogging:

Pepe & Bournique (2017) opined that telling the purpose of the event is an important factor. Expressing the mission and vision of the event can be done through online blogging by the media managers of the WCNW event.

Social media:

Mohammad (2018) stated that in this current era the social media plays a great role in the promotion of an event. Hence WCNW are also using the social media as a platform to reach their members and invite them for the upcoming event.

Paid promotion:

Paid promotion can also be done in order to achieve the maximum level of reach and impact. The paid promotion can include paid social advertising, Google targeting or Ad Words. According to Kelly & Fairley (2018), these are considered to be very much effective in order to reach the target audience promptly.

Event press release:

Press coverage is an effective manner to gain public attention. WCNW can apply this strategy in order to capture the attention of every person and along with that increasing the ticket sale and number of participants in their upcoming event.

Personal invitation:

WCNW chamber can also invite their members personally through sending emails or making phone calls. Sometimes individual invitation becomes more effective than other forms.

Television and newspaper advertising: WCNW can give advertisements in the newspapers and television in order to let people know about the upcoming event. This can enhance the number of booking of the participants for the event.

Figure 1: marketing strategy

(Source: Kelly & Fairley, 2018)

5. Financial Break down

There is a total budget of 40,000 in order to organise the event at Chester racecourse. This budget is for all aspects of the entire event including the marketing (Eventbrite.co.uk, 2019).

Total budget plan:

Category	Estimated budget (£)
Site Venue charge Site staffs Equipments Tables and chairs	8,000
Decoration Flowers Lights Other ingredients	3,000
Refreshments Food Drinks Beverages Serving staffs	10,000
Program Announcer Presenter Performers	4,000
Miscellaneous Transportation Token of gift for invitees Telephone and fax service	3,000
Marketing and publicity	12,000
Total	40,000

Table 1: total budget plan

This is the entire budget report prepared for the upcoming event of WCNW which is going to be organised at the Chester racecourse.

There are various categories of expenses which have to be planned in a proper manner so that the expenses do not exceed the budget. The total amount of budget is divided among several sectors as per their need.

Firstly the venue of the Chester racecourse has a charge along with that there is a need to arrange the chairs and tables for the invitees. Including all these equipments which are needed at the event site has a fixed budget of 8,000.

For the purpose of decoration the budget is fixed to be 3,000. As this event is going to take place in the morning time hence there is a need to arrange breakfast for the participants. For that purpose of refreshment the budget of 10,000 is fixed.

For other purposes such as arranging programs and buying other miscellaneous items the allocated budget is 4,000 and 3,000 respectively.

For the purpose of marketing the comparatively higher budget is set and that is 12,000.

Marketing type	Estimated budget (£)
National marketing Television advertising Banners and hoardings	2,000
Local marketing Newspaper advertisement	1,000
Public relation Press conference	2,000
Social media Facebook Twitter Instagram linkedIn	3,000
Online content Blogging Website Pre event page	4,000

Table 2: Marketing budget plan

6. Conclusion

In evaluation of this report this can be concluded that event planning must be appropriate and effective in order to bring success to the event. The planning for the event of WCNW the event planning comprises of several phases such as determining objective, fixing budget, targeting audience and many more. The marketing strategies are discussed which follows the theory of mass communication by McQuail. The budget analysis is also done focusing on the various areas of expenses.

Reference list

Chien, P. M., Kelly, S. J., & Gill, C. (2018). Identifying objectives for mega-event leveraging: A non-host city case. Marketing Intelligence & Planning, 36(2), 168-184. Retrieved from https://search.proquest.com/docview/2013163281?accountid=30552

Eventbrite.co.uk, 2019, Organiser of Round the Table Networking at Chester Racecourse, retrived from: https://www.eventbrite.co.uk/e/round-the-table-networking-at-chester-racecourse-tickets-52252534738, retrieved on: 29.06.19

Gavinelli, L., Morra, M. C., & Di Gregorio, A. (2016). Pre-event marketing and territorial governance: The case of monza and brianza province. Qualitative Market Research, 19(2), 173-203. Retrieved from https://search.proquest.com/docview/1826444519?accountid=30552

Huang, Y. (2016). Networking behavior: From goal orientation to promotability. Personnel Review, 45(5), 907-927. doi:http://dx.doi.org/10.1108/PR-03-2014-0062

Kelly, D. M., & Fairley, S. (2018). The utility of relationships in the creation and maintenance of an event portfolio. Marketing Intelligence & Planning, 36(2), 260-275. Retrieved from https://search.proquest.com/docview/2013169131?accountid=30552

McCabe, M. B. (2017). Social Media Marketing Strategies For Career Advancement: An Analysis Of Linkedin. Journal of Business and Behavioral Sciences, 29(1), 85-99. Retrieved from https://search.proquest.com/docview/1925835844?accountid=30552

McQuail, D. (2015). Mass communication. The International Encyclopedia of Political Communication, 1-12. retrived from: https://onlinelibrary.wiley.com/doi/abs/10.1002/9781118541555.wbiepc155, retrieved on: 29.06.19

Meredith, L. (2016). Multiple marketing plans: An analytical template. The Journal of Business & Industrial Marketing, 31(4), 519-530. Retrieved from https://search.proquest.com/docview/1826811511?accountid=30552

Mohammad, F. A. (2018). Social media marketing, functional branding strategy and intentional branding. Problems and Perspectives in Management, 16(3), 102-116. doi:http://dx.doi.org/10.21511/ppm.16(3).2018.09

Pepe, M. S., & Bournique, R. (2017). Using social media as historical marketing tool for heritage sites in eastern new york state. Journal of Applied Business Research, 33(1), 123-134. doi:http://dx.doi.org/10.19030/jabr.v33i1.9873

Rusko, R., Härkönen, K., & Liukkonen, S. (2016). Coopetition at elevator pitch events? A case study of micro-activities at a business innovation event. Journal of Innovation Management, 4(3), 79-100. Retrieved from https://search.proquest.com/docview/1957793068?accountid=30552

Smith, T., Williams, T., Lowe, S., Rod, M., & Hwang, K. (2015). Context into text into context: Marketing practice into theory; marketing theory into practice. Marketing Intelligence & Planning, 33(7), 1027-1046. Retrieved from https://search.proquest.com/docview/1714225064?accountid=30552

Zappas, K., McMahon, K., & Bohnert, A. (2018). The materials community connects at TMS2018 networking events. JOM, 70(6), 793-797. doi:http://dx.doi.org/10.1007/s11837-018-2903-3

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