Event Marketing Mix Analysis

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Creation of an event marketing plan needs creativity, but relying on your instincts and gut feelings may lead to assumptions and do not pan out when your doors open. The marketing mix consists of pricing, interrelated development of the product, distribution and promotion strategies which should be based on thorough research. To understand the needs and desires of the customers, the company must define its market. The market is a group of individuals focuses on business in order to sell a product or any service. Event Marketing involves a value of exchange and is based on exchange of values between the seller and buyer so that both the parties are satisfied. The event marketing mix in common is described using four P’s: product, price, promotion…show more content…
The price and the placement of the product should be compatible and the product should be compatible with the promotions. In general, all the P’s of the marketing mix are intrinsically linked to each other. As a result, when you are creating a marketing mix, it will become a chain of strong bonds and should guide you forward in making a long chain. Whenever you consider adding a new feature or want to change the existing one, you have to look at the overall picture that helps you to create a clean marketing mix for the product. 2) Marketing mix helps in new product development If you are adding a new product or changing and existing one, there exists a number of ideas that come up for a product which is related to the company and is designed by the company. The place, pricing and promotions might be distinct for such a product. Nonetheless, it can be classified as a new product and therefore, while designing the marketing mix, the company can come up with good ideas for NPD as well. 3) It helps increase the product…show more content…
Limited edition T-shirts was produced in partnership with one of Singapore’s luxury retail company– Club 21 in conjunction with the mega event. The collaborator of the Containart Pavilion presented a T-shirt featuring a tabular “21” and presented in a special tube packaging to commemorate one of the Japan’s architect iconic works. Club 21 sponsored the uniforms for 700 volunteers who were helping out in the Biennale. f) Physical Evidence The satisfaction of the customers is affected by the Physical evidence. Often, services being intangible ones, the customers depend on other cues to judge the offerings where a physical evidence plays a part. No one likes eating at a joint where the table is greasy or the cooks and waitresses wear a stained apron or looks untidy? Surely you would evaluate the quality of your experience with these kind of proxies. Conducting proper kind of research for analysing how the event marketing mix that applies to your product or service and helps you pursue the appropriate strategies for your company. g)

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