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PEV301 International Events Management
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PEV301 International Events Management
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Course Code: PEV301
University: Greenwich School Of Management
MyAssignmentHelp.com is not sponsored or endorsed by this college or university
Country: United Kingdom
Question:
Learning outcomes assessed:
Discuss the strengths, weaknesses, opportunities and threats of the event organisation;
Evaluate the barriers an events organisation would face organising an event overseas or an international event organisation would have when launching in the UK.
Use a range of tools, techniques and apply creativity to solve problems through qualitative and quantitative data relevant to the study international marketing;
Justify the importance of strategic theory and applying it to an events industry who is launching an event overseas.
Answer:
Introduction
Event management is a major industry in the United Kingdom. Most importantly, the awareness of the event type is essential for any event planner in terms of designing and production of an event. However, the management of events both internal and international should be carried out with a clear understanding of the objectives or the purpose of the event. Without the clear objectives, planning of the event will be very challenging as acknowledged by (Holmes and Kirsten, 2018, pp.583-597). Another important factor is an establishment of the timelines, which does not only involve the actual event but also the complementary activities such as the coordination of the people, scheduling, and venue preparation among many activities. Additionally, sourcing and managing of the suppliers with a clear and effective allocation of the budget is very vital to the success of an event. Concisely, marketing and communication is a great determination of the attendance of the audience to the event as supported by (Burnett, 2017, pp.9-19). In this report, we will focus on the Glastonbury festival event, which is a music festival.
Background of Glastonbury festival organization
The Glastonbury festival is a famous event in the UK growing from shambolic beginnings of the first festival in 1970. The event was first held at Worthy Farm located in Pilton during the early summer in June, which was organized by Michael Eavis. Over the years, the Glastonbury festival has developed to include other events apart from music including dance, poetry, and theatre. Despite the growth in the organization over the years, there has been experienced potential attributes that could enhance the future growth as well as the setbacks that have posed challenges to the organized. These were analyzed based on the strengths, weaknesses, threats, and opportunities as outlined by (Kim and Yong, 2018, pp.453-467).
The relevance of the Glastonbury festival in the German market
Market entry and strategies
Just like in the United Kingdom, the Glastonbury event will pose equally social, economic, and ecological impacts in the German market. Apart from the entertainment, the Glastonbury festival events would be useful to the local economy of the country. This will be due to the tourism activities accompanied by the hotel reservations, exposure of the local goods and services and the local tourism as the events of the day will see the commercial consumption, activity, and sociological importance. Furthermore, this is explained using Porter’s five forces and the PESTEL analysis.
STP Model
An STP model entails three main steps that enables the business to identify the customers, development of products that are on demand. This enables the establishment of a suitable marketing strategy that would help the organization to excel in the new market. These steps involved in STP model are segmentation, target, positioning.
Segmentation
Market segmentation would enable the Glastonbury festival to divide their customers into groups according to their needs and characteristics. Segmentation can be through behavioral, geographic, psychographic, and demographic.
Target
After segmentation, there would be need for the Glastonbury organization to analyze and target the most appropriate segment group that would result to most profits after the events.
Position
This is last step of the STP model whereby the goal would be to identify the position of the Glastonbury festival products in the market in order to align the products with the most valuable customers in the music industry.
Porter’s five forces
The Porter’s five forces theory claims that there are forces, which determines the competitive nature of the organization in the market (Stewart et al., 2018).
These forces are aimed to identify where the powers in a business organization lie which helps to determine the strength of the business position. The theory emphasizes the following forces in the business.
Bargaining power of suppliers
The supplier power of the outlines the assessment of how easy the suppliers drive up the prices. For instance, the supplier power of Glastonbury festival in the German market will be highly based on the number of the competitors in the music industry hosting similar events, which will determine the prices of the tickets for the events (Marshall, 2018, pp.413-436).
Bargaining power of buyers
Another force is the buyer power. The buyer power of the Glastonbury festival would be driven by the number of the buyers in the German music industry. The number of the attendees at the event will determine the future prices of the tickets of the events.
Competitors’ rivalry
Additionally, the competitive rivalry force would be a core factor for the Glastonbury festival in the German market. The more the number of similar rivalry competitors would imply that there would be reduced market attractiveness in the country.
Threat of substitution
This would increase the likelihood of the consumers switching to alternatives concerning the response in an increase in price.
Threat of new entrants
The Glastonbury festival is also likely to experience the threat of new entrants in the German market. This is due to the concept of the profitable markets that attract new entrants into the industry thus eroding the profitability (Altuntacs et al., 2014, pp.300-309).
PESTEL analysis
This is the framework used to analyze the environmental factors that are likely to affect the performance of an organization in the market as seconded by (Robinson et al., 2016). These include the political, economic, social, technological, environmental, and legal factors.
Political factors
For instance, the Glastonbury music festival could be influenced by the German political factors such as the government policies, foreign trade policy, tax policy, political stability or instability among others. These factors should be taken into consideration by the planner of the events.
Economic factors
The economic factors are also likely to determine the success or the failure of the Glastonbury festival in the German market. These include the exchange rates, the economic growth rates, the inflation rates, unemployment rates among others that will directly affect the returns of the revenue collected from the event to the organization.
Social factors
Another important aspect of the PESTEL analysis is the social factor. According to (Theaker, 2017, pp.17-27), the social factors represent the demographic characteristics, customs, and values of the German market population. The social factors cut across the population trends such as the income distribution, lifestyle attributes, and the cultural barriers among others. This will directly influence the events, as the planner will be targeting a certain age or a certain class of lifestyle in the country.
Technological factors
The technological factors cannot be neglected in the planning of the events. Innovation in technology can affect the operations from planning activities to the actual event, which may be favourable or unfavourable in the market. By knowing what is going on technology-wise, the organization can be able to avoid coming up with technology that may become obsolete in future.
Ecological/ Environmental factors
In the analysis, the ecological and the environmental aspects, which include the weather, climate change, and environmental offsets, may affect the Glastonbury festival events in the German market. The environmental factors could influence the time of the year for the events to take place.
Legal factors
Another aspect of the analysis is the legal factor. The different countries have different legal laws, which might not favour the operation of a foreign business organization entity (Getz and Donald, 2016). For instance, the German laws such as consumer protection laws, anti-trust laws among others might not favour the operation of Glastonbury festival in German the same way in the UK.
Event theme and design
The event will be dominated by live performance from various artists, dancers, and musicians. There would be competition of performance from the audience for those who would register in different field on the day before the event starts. The event will run for 18 hours a day with closure at 4 a.m. every day for the three days. The ages below the age of 18 years will strictly not be allowed to attend the event beyond 7 p.m.
Evaluation of the market plan for launch (7Ps model)
The evaluation of the market plan for the Glastonbury festival events in the German market can be analyzed using the 7Ps model (Reic, 2016). This model can be used to set the objectives to conduct the SWOT analysis in order to conduct a competitive analysis. This model focuses on the following factors products/services, prices/fees, place/access, promotion, physical evidence, people, and the partners.
Products
The products/services to be offered by the Glastonbury festival should be considered and thoroughly analyzed to give a projection of the level of demand for consumers in the international market.
Prices
There is also the need to determine how to alter the pricing of the tickets in the market with factors such as whether to increase or reduce being considered.
Places
The places/access whether online partner’s network or the country user groups determines the ease of the entry into the new market.
Promotion
The promotion aspect influences the distribution options and the attendee’s experience to the actual events.
Physical evidence
This goes in hand with the physical evidence, which should provide an appeal and reassure the audience such as a great website, a well-trained staff, impressive building or venue among others.
People
In addition, the people participating in the organization of the event are essential and there should be no gaps in the personal skills for the event to be effectively coordinated.
Partners
According to (Ross, 2016), the managing of the existing partners and seeking of the new partners is very elemental in the future operations of the events. The combination of the 7Ps will ensure an effective evaluation of the German market plan before the launch of the festival.
The relevance of targeting the audience and justification
It is important to put into consideration the target audience for the attendance of the festival event. Factors such as the age are very vital in the determination of the content to be presented to the audience. With the knowledge of the audience the target audience, the artists can come up with the performances that would not lead to a negative influence or criticism of the entire event. Moreover, the organizers can make it clear in the advertisements the allowed age to attend the event in case it is not suitable for the children below a certain age. In the setting up of a target audience, Hofstede’s cultural dimension would be used to determine the different aspects of the international event management and communication (Kim, 2017, pp.23-40). These involve the six cultural dimensions, which include the power distance. This explains that the less powerful members of a market accept and expect that the distribution of the products and services take place unequally in the case of Glastonbury festival events.
The other dimensions include the uncertainty avoidance, which aims at explaining an extent to which the people in the new market are less likely to tolerate any ambiguity in the course of the actual event. However, the individualism vs. collectivism dimension would help in examining the audience behaviour to determine whether they would be comfortable being left alone or will need to stay within the network. According to (Valaei et al., 2016, pp.270-301), the dimension is the Masculinity vs. Femininity, which focuses on factors such as the audience assertiveness, material reward and achievement as well as the preference for modesty, cooperation, the quality of life, and the caring for the weak respectively. In addition, the long-term vs. short-term dimension inclines the audience towards the achievement of certain virtues out of the festival events. The final dimension is the indulgence vs. Restraint that involves around the degree at which the audience exercises control over their desires.
Critical analysis of the contemporary issues/barriers
The reduced event budget could be a great barrier to the success of the Glastonbury festival. Being explored in the new market for the first time, the approximations for the budget are likely to be off the cut. Additionally, there could be the need for the technology upgrade, which comes along with an additional budget. This advancement in technology could result in the lack of adequate skills to keep up with the upgrade in technology (Van der Wagen and Lynn, 2018). There could also be the challenge of less money from the sponsors who are usually known to make great contributions that facilitate the success of many events. Another barrier could be due to the rising travel and housing costs for the overseas audience to the event venue. Security for the event is another concern that could hinder the success of an event in the new markets.
Conclusion and recommendations for addressing the barriers
There should be an intensive projection of the budget cost for the event before allocating the budget for different activities. This would be also effective with the setting aside of a complimentary budget to cater for the unplanned spending. There should also be a strict audit framework that would ensure funds are utilized by the planning team in order to hold the responsible members accountable. Additionally, the organization should invest in research to curb the upgrade in technology with a well-trained staff (Meyer and Klaus, 2016, pp.3-22). However, the organization should also establish a network of more partners who will facilitate the funding of the events rather than be relying on the sponsors for funding. Another important recommendation is to encourage more local participation in the new market through intensive advertisement and an effective delivery of the services in order to win the local market. This would ensure the success of the event as it would not rely on the foreign attendees who might fail to turn up in large numbers due to high travel and accommodation costs. I also recommend the involvement of the local government for providing security to the audience during the festival event.
References
Altunta?, G., Semerciöz, F., Mert, A. and Pehlivan, Ç., 2014. Industry forces, competitive and functional strategies and organizational performance: Evidence from restaurants in Istanbul, Turkey. Procedia-Social and Behavioral Sciences, 150, pp.300-309.
Burnett, R., 2017. Global strategies and local markets: explaining Swedish music export success. In Global Repertoires (pp. 9-19). London: Routledge.
Getz, D. and Page, S., 2016. Event studies: Theory, research and policy for planned events. London: Routledge.
Holmes, K. and Mair, J., 2018. Events, Festivals, and Sustainability: The Woodford Folk Festival, Australia. In The Palgrave Handbook of Sustainability (pp. 583-597). Palgrave Macmillan, Cham.
Kim, S., 2017. National culture and public service motivation: investigating the relationship using Hofstede’s five cultural dimensions. International Review of Administrative Sciences, 83(1), pp.23-40.
Kim, Y.H. and Kaewnuch, K., 2018. Finding the Gaps in Event Management Research: A Descriptive Meta-Analysis. Event Management, 22(3), pp.453-467.
Marshall, S.J., 2018. Strategic Planning as Sense-Making. In Shaping the University of the Future (pp. 413-436). Springer, Singapore.
Meyer, K.E. and Peng, M.W., 2016. Theoretical foundations of emerging economy business research. Journal of International Business Studies, 47(1), pp.3-22.
Reic, I., 2016. Events marketing management: a consumer perspective. Taylor & Francis.
Ross, D.F., 2016. Introduction to e-supply chain management: engaging technology to build market-winning business partnerships. CRC Press.
Stewart, B., Nicholson, M., Smith, A.C. and Hoye, R., 2018. Sport management: principles and applications. London: Routledge.
Theaker, A., 2017. What is public relations?. In The Public Relations Strategic Toolkit (pp. 17-27). London: Routledge.
Valaei, N., Rezaei, S., Ismail, W.K.W. and Oh, Y.M., 2016. The effect of culture on attitude towards online advertising and online brands: applying Hofstede’s cultural factors to internet marketing. International Journal of Internet Marketing and Advertising, 10(4), pp.270-301.
Van der Wagen, L. and White, L., 2018. Event management: For tourism, cultural, business and sporting events. Cengage A
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