Event Management Marketing Research

Question: Discuss about theEvent Managementfor Marketing Research. Answer: Introduction Amidst the several aspects in a business firm, managers often focus on developing a highly impacting event management plan for the selected organization. In addition to focusing on a significant product, companies also tend to develop a specific incorporation program as well (Aaker 2013). Bing a well reputed brand in Australia, Bakers Delight also focuses on evaluating a plan for their product. In order to maintain position in the market, increase profit levels and retain its customer base, supervisors in the firm enhance on building up a new commodity. This particular project highlights the companys idea of developing a new chocolate product apart and its specific launch plan. Venue Choice The managers focus on choosing a populated venue for launching the new product in the market. In order to develop revenue generation, the company performs an analysis on the whole of Australian market. Further, supervisors also tend to focus in the changing needs of the people to provide them with their most desired goods. It is noted that Bakers Delight differentiates among its target segments as well. Being an organized nation, Melbourne, Brisbane and Sydney proves to be the most beneficial sectors for the launch. Moreover, targeting the NSW, southern and northern parts also will provide the company with profit increments. Among the several other processes, the venue selection is of great importance to the management (Cateora, Gilly and Graham 2013). In addition to being a primary step in launching the product, the event will address all the beneficial aspects of the company, which will gather the interest of the stakeholders. Australia with an unstable external environment marks the need for innovation and creativity, which Baker Delights tends to grab. Theme Managers also focus on the theme of the product launch. Being a new chocolate launch, managers integrate a masquerade theme for the event. As compared to any other firms, managers hope that the use of the peculiar ideas would not only grab the attention of the consumers, but also strengthen their buying decision making. Further, the use of trade shows and workshops for the launch would also be beneficial to the company. As stated by Damm (2012), a development of promotional video highlighting the uniqueness would also pursue clients. Furthermore, the management would also ensure a proper functioning of the taskforce and all other initiatives at the launch event. In addition to staffs serving food, beverages and samples of the chocolate wearing masquerades, an idea of customers tasting the product wearing a blindfold would also develop a sense of engagement among them. Technology Used Like any other business firm, Baker Delight also greatly depends on technological factors to ensure a proper value addition to the product process and high productivity of the launch event (Hood 2013). In addition to the automation of services and development of new equipments, the management tends to implement recent innovations as well. In terms of achieving the theme, supervisors use an individual tracker to maintain headcount and also effectively collect feedbacks form them. Further, the data recording processes also help the firm to perform in an effective way. According to Bove?e and Thill (2012), it is with an affecting use of technology that, the firm is able to develop a fluent internal and external communication. Furthermore, along with the use of technology at the marketing level, the managers focus on implementing production and promotional technology as well. The growth of social and digital media has allowed managers to build up online advertisement not only regarding the product, but also its launch event. The use of emails, online websites, communication tools, and other similar machinery will greatly help Baker Delights. Unique Element In addition to being a well reputed chocolate brand and providing the public reasonable prices high quality products, the management focuses on developing an USP for the newly launched commodity. A dedication to developing the handmade chocolate products itself serves as one of the most affecting unique elements that grab the attention of the people (Andersson and Getz 2014). Despite of being a modern generation firm, Baker Delights focuses and enhances the essence of 18th century chocolates production right from the manufacturing mechanisms to packaging processes. In addition to building up product value, managers also focus on ensuring the USP to not exceed the budget and also prove to be of lower risk (Lee et al. 2016). Existing Knowledge and Creativity The mangers of the company depend on the market study and several other aspects to develop a proper plan for the product. In order, ensure sustainability of the newly developed chocolate the firm need to learn about the micro as well as macro affecting factors. It is noted that the managers analyze the prevailing condition of the Australian market to learn about competitors, customers, employees and other stakeholder groups (Rojek 2014). Further, a research is also carried out to ensure collection of necessary information as well. As compared to the other firms in the country, Baker Delights focus on accepting innovation and creativity of the taskforce to not only enable them to maximize competencies but also come up with several new ideas for the launch of the product. Moreover, communication with the customers in the business process requires a lot of research and analysis (Bove?e and Thill 2012). Smooth execution, time saving, monetary appraisals, inflow of different kinds of creative ideas, increased customer satisfaction, end to end execution, expert planning and post event analysis and many other similar activities are of great concern to the managers of Bakers Delight. Conclusion Analyzing the several aspect of the project it can be inferred that Bakers Delight greatly depends on the event management and marketing plan to not only ensure a profitable launch of the product, but also to secure sustainability of it in the market. It is with the help of a process that enabled the firm to develop a proper marketing plan, with the view introducing a new product. Apart from the regular products, the organization focused on business expansion with the view of introducing chocolate products. Scrutinizing the variable concepts of the organization based report, it is inferred that the new product will achieve popularity and prove profitable to the company only with a proper control and management. References Aaker, D. (2013).Marketing research. 1st ed. Hoboken, NJ: John Wiley Sons. Andersson, T. and Getz, D., 2014. Special Issue: Advancements in event management research and practice.Scandinavian Journal of Hospitality and Tourism,14(3), pp.189-348. Bove?e, C. and Thill, J. (2012).Business communication essentials. 1st ed. Upper Saddle River, N.J.: Pearson Prentice Hall. Bove?e, C. and Thill, J. (2012).Business communication today. 1st ed. Boston: Pearson. Cateora, P., Gilly, M. and Graham, J. (2013).International marketing. 1st ed. New York: McGraw-Hill Irwin. Damm, S. (2012).Event management. 1st ed. Hamburg: Diplomica Verlag. Hood, D. (2013).The marketing manifesto. 1st ed. London: Kogan Page. Lee, I.S., Brown, G., King, K. and Shipway, R., 2016. 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