Let me start with small brief about both industries for dummies, Event management is the new trend for showcasing products or services or status or it could be any show for people out there in world. There is a long list of services the event management company offers which goes from putting up a table with clothing to creating huge setup for thousands of people entertainment or discussion or participation. It is very tough to answer that event is a part of marketing or Marketing is the part of events. But certainly both work together to make success stories. Events are made or used to promote, develop and launch the product/brand. Few of the event/marketing services I got involved in: Conferences, seminars, Party Nights, Product Launch, Promotion, Event Staffing, Road Shows, Advertisement, Music & Movie Launches, Venue Production, Catering, Model Coordination, Wireless Systems, Anchor & Artist Management, Exhibition, Private parties, Corporate Parties, Wedding, Theme Parties etc. But from all of these I would say the only part of actual event management is designing stages and venue designing and all others which I had just mentioned are part of marketing in case you are doing it for company Brand or product. But in today’s world busy schedule no one has spare time to watch and look for arranging these parties, shows and weddings. That is where Event management companies come into picture for managing/arranging all these for you on some percentage/chargeable basis.
Marketing on other hand is a business world name which has so much potential and power to generate a decent/poor equipment to get sold off in market. The only thing it should have is customers, by customers I mean the product should have something that customers can’t live without For Ex: In the morning if you don’t get your tooth paste, brush, bath soap and shaving kit with you – you probably can’t start with the day..””” I am not talking about those who actually live without them””””. These had become the basic necessity of our life – that’s where the caught is – these products had made us habitual of them - the same way you cannot live without watching a your favourite TV serial while dinner. I am not saying there is something bad in it. You can live and work and go office without brushing your teeth’s what is the problem, if all your colleagues come office like same. Why you have to wear Giorgio Armani suits, a Rolex watch and Shaffer pen all you need has to write but no you still buy it. The point is we are getting involved in these products in our day to day life. Why Kaun Banega Crorepati was so hit " They captured the right interest of audinaces i.e customers - made a product/show for all group of people educated/non-educated - launched and executed the best way and by best anchor and delivering best show.
The reason you buy/see/accept these products is: you have more trust and faith or durability or interest and status in these royal brands. How these products are made brands let’s have a look:
Now we segment two types of producers:
Business: Existing market players. Have a team to work for the project, and ratio of success of there projects are high “ I am sure you want to know why it is high in their cases” We will discuss about it too.
Starters: They think that their effort, time and investment can raise their business. Few of them become successful and others remain unsuccessful because they just keep on struggling alone without targeting a specific set of customers.
What is all required to be focused on a set of group we call it segmentation. The ratio of conversion of people to customers is high when you target those who are interested in your product minimum 10% - maximum 60%. Finding them is not easy but there are techniques and tools available which can help you do segmentation. Further I would be posting soon how to find and segment these customers for you called customer development. Thanks for your time.
