A report on Business Plan

:Event Management

BUSINESS PLAN
Event Management
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A business plan: Event Management

Course Name: Principles of Marketing

Course code: F-204

Submitted to:
Ms. Pallabi siddiqua

Assistant professor

Department of finance

University of Dhaka

Submitted by:
Md. Shahidul Islam

Id: 22-055

Sec: A

BBA 22nd batch

University of Dhaka
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Acknowledgement

I express thanks to our dear course teacher Ms. Pallabi Siddiqua for assigning me a
Report dealing with “A Business plan: Event Management”. The presentation of this Term
Paper is of a great expectation in our B.B.A. program and I am quite happy to submit it.
Theoretical knowledge is valued when it is successfully applied in this scenario. In this
respect I found this Term Paper a great opportunity to know how to cope with the business
world.

So lastly I would again like to express my heartfelt thanks to our course teacher for
providing me such scope to gain practical knowledge and enrich our study with realistic
implication of knowledge.
 Letter of Transmittal
May 9, 2017

Ms. Pallabi Siddiqua

Assistant professor

Department of Finance

University of Dhaka

Subject: Submission of the Report on “A Business plan: Event Management”.

Dear Madam,

Here I present a report titled “A Business plan: Event Management” with due
gratitude and appreciation. As for partial fulfilment of the requirements for the BBA
program, I have completed the report. The report program has given me the opportunity to
learn about different aspects of the topic. Before facing the real business world, I have
gathered a pre idea about the business plan. To prepare the report secondary data has been
used. However, I have gathered all the facts that I could within this short period and have
tried our best to present them clearly and logically. Despite of some limitations, I sincerely
hope that this report will meet the requirements that you set for us.

Yours Sincerely

MD. Mominul Islam

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EXECUTIVE SUMMARY
Things are getting so complicated day by day. Even the markets are also becoming
sophisticated. To sustain in the market, competitors need new product, new business plan. In
this whole report I try to develop a business plan and I select such a business which’s demand
is increasing day by day. That is event management and I target the wedding management. As
wedding ceremony is rapidly growing in Bangladesh rather than others.

In this regard I have found Blue Event a wedding consultants and management
organization. This mainly work for customers and support them to do their events successful.
The company work under three wedding packages which they give considering the customer
demand including platinum, gold and silver packages. Initially blue event started business
with Tk. 10,00,000 investments and Tk. 5,00,000 loan. The company gives many interesting
services related to wedding and it also offers anniversary and honeymoon packages. For
getting success the company follow many marketing strategies like service-profit chain,
porter’s five model etc. they segmented the market into individual market segmentation and
the main target market is wedding ceremony. The company analyze the market with swot
analysis
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TABLE OF CONTENTS

Particulars Page Number

Acknowledgement 2
Letter of Transmittal 3
Executive Summary 4
Introduction of the report 6
Objective of the report 7
Methodology of the report 7
Scope of the report 7
Origin of the report 8
Limitation of the report 8
Introduction & key features of event
9
management
Market segmentation & target market 10
Market strategies 11
SWOT analysis 12

Market analysis 13
Financing plan 13

Budget of wedding 15
Structure of Management 16

Promotion 16
Services, fees and packages 17
Conclusion 17
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INTRODUCTION OF THE REPORT

Now-a-days, the competition in the business world is increasing at a remarkable rate.

Many industries are now entering in a regular basis in the competitive business world. Some
of them are manufacturing or service related company. That’s why things are getting so
complicated. Businesses need new business strategy, new product or service plan and
development process.

I have choice a service related business plan. Considering present situation I have
choice a new idea. I think this will be a great deal to compete with others.

Every time when we see a programme like filmfare awards or those pop concerts and
beauty pageants, wedding ceremonies, birthday party we might have wondered how people
managed to set up such brilliant shows. Every tiny detail from our entering the venue to our
going out is a result of rigorous planning. Well…that's EVENT MANAGEMENT for you.

One of the fastest and the most glamorous upcoming professions today.Event
management, the most profound form of advertising and marketing, is a glamorous and
thrilling profession. It provides an opportunity for unleashing one's creative potential to a
very high degree. It demands a lot of hard work and effort but at the same time offers
enormous scope.

Event management is a process of organizing a professional and focused event, for a

particular target audience. It involves visualizing concepts, planning, budgeting, organizing
and executing events such as fashion shows, musical concerts, corporate seminars,
exhibitions, wedding celebrations, theme parties, product launching etc.

Event Management is a multi-million dollar industry, growing rapidly, with mega

shows and events hosted regularly. Surprisingly, there is no formalized research conducted to
access the growth of this industry..
On the profession side, event management is a glamorous and exciting profession that
demands a lot of hard work and dynamism.
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The logistics side of the industry is paid less than the sales/sponsorship side, though
some may say that these are two different industries.

OBJECTIVE OF THE REPORT

❖ To get broad overview of an organization’s mission, objectives, strategy and resources

allocation.
❖ To describe what types of scopes appear in business plan & marketing strategy.
❖ To get a realistic view how to cope with the real world.

METHODLOGY OF THE REPORT

In order to prepare this report secondary data have been used. I have collected the
secondary data from field supervision.

SOURCES OF DATA

In order to making this formal and comprehensive report we have gone through a
marvelous experience while collecting and combining all information from primary and
secondary data sources.

❖ Secondary data source: websites for other information.

SCOPE OF THE REPORT

The study topic allows us to understand how the organization’s strategic objectives
will be achieve through a specific marketing strategies and tactics, with the customer as
starting point and how the organization will succeed within the limited scopes.

ORIGIN OF THE REPORT

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As a part of our B.B.A program, asked to prepare a report on the topic of “Business
plan & Marketing Strategies” by our course teacher Ms. Pallabi Siddiqua. The main objective
of this task was to provide practical knowledge to the concern students. The study has
enabled us to learn about the process of using technology in business communication.

LIMITATIONS OF THE REPORT

To prepare this report I had to face many problems. But I did it through own spirit. I
have faced the following limitations at the time of preparing this report.

❖ Lack of enough time:

The term paper was prepared within a very short time considering the topics related to
report. So I had to do it quickly as a result this report may have unintentional error.

❖ Lack of experience:
As I do not have practical idea of all technological tools used in communication
process. I have faced many problems to complete this report.
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Introduction & Key features of Event Management

As we know Event management is the application of project management to the
creation and development of large scale of events such as festivals, conferences, ceremonies,
parties etc.

Event management is becoming a key business factor in today’s situation. There is a

huge opportunities of EM in Bangladesh. Though here is a big demand of EM, but
considering the demand industries related to EM is totally low. Event Management is a
billion dollars business. Comparing with the others countries, we are so leg behind.

There is so many side of Event Management such as wedding, sports, corporate, road
show, party, concert etc. From all of this a have choice Wedding Event Management. In our
country, there is a great opportunity and prosperity of wedding event management.

I have decided to start BLUE EVENT wedding consultants and management

organization as full service company that provides complete consulting services for wedding,
anniversaries and honeymoons. I select experience and dedicated professionals with many
years of wedding planning experience.

❖ Key Features
⮚ Giving our client undivided and equal attention.
⮚ Knowing our customers need.
⮚ Working with team to create the event dreamy.
⮚ Giving services in unique way.
⮚ Maintain a professional image all times at any cost.
⮚ Providing services to clients promptly and efficiently.

Market Segmentation & Target market

There are many types of event organization on the market and this are highly
competitive. From all market or events, my target is to organize wedding management and
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select individual market segmentation, because in Bangladesh the wedding ceremony is

rapidly growing rather than all other festivals but there are huge lacings of wedding
management organization. In that case I decide to launch a new startup business plan on
wedding management. I hope I will succeed in shorter period of time and develop a
Bangladeshi traditional wedding management system through a modern way that should
reflect our culture and also create a positive effect.

❖ Service Review

Our BLUE EVENT offers the following services:

⮚ Wedding venues
⮚ Wedding themes
⮚ Wedding photography and cinematography
⮚ Wedding shopping guide
⮚ Wedding jewelers
⮚ Wedding invitation card
⮚ Wedding entertainment
⮚ Wedding music
⮚ Food items
⮚ Flower decoration
⮚ Choosing the caterer

Marketing Strategies
As our organization is a service company, our motto is “BE SATISFIED WITH
DREAMY WAY”

Our strategy is frontline servicing with effective interaction. Our target is to focus
both the customers and employees. We try to follow service-profit chain, which links service
firm profits with employee and customer satisfaction. The chain consists of five links:
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Internal service quality: superior employee selection and training and strong support
for those dealing with customers.

Satisfied and productive service employee: more satisfied, loyal and hardworking
employees.

Greater service value: more effective and efficient customer value creation and
service delivery.

Satisfied and Loyal customers: satisfied customers who remain loyal, repeat
purchase, and refer other customers.

Healthy service profit and growth: superior service performance.

SWOT ANALYSIS
Summarizing Blue Event’s strength, weakness, opportunities and threats are given
below:

Strengths

⮚ Blue Event can build these important strengths:

⮚ We have an experienced team with high motivating level
⮚ We can use an online event management solution
⮚ We streamline your administrative workload.
⮚ We have effective event promotion tool

Weakness

⮚ Lack of funds
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⮚ Inexperienced event team

⮚ Lack of media and corporate contacts
⮚ Manual data entry
⮚ Want of dynamic website

Opportunities

⮚ Less competition
⮚ Support from the local authorities
⮚ Modern infrastructure

Threats

⮚ Strong competition
⮚ Bad weather
⮚ Backdated infrastructure

Market analysis
Porters five model

✔ Competitive rivalry is low for the sector because of different strategies by

different organization and low exit barriers in the market.
✔ Threats of new entrants is high because of entry barriers.
✔ Threat of substitute is still low because the business has not been enormously
in style in Bangladesh.
✔ Bargaining power of supplier is low because there is lot of suppliers in the
market
✔ Buyer’s bargaining power is low because, there are only few professional
event management companies.
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Financing Plan
❖ We estimate that our start-up costs will be Tk.10,00,000 including legal costs, logo
design, website maintaining, direct mail and related expenses.
❖ An additional Tk.5,00,000 will be taken as loan from bank for three years and the
interest rate is 12%.
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BUDGET OF WEDDING
Particulers Amount
Venues 240000
Themes 40000
Photography and cinematography 20000
Mithai sweets 15000
Flower decoration 40000
Music 80000
Shopping guide 5000
Jewelry 30000
Invitation card 10000
Entertainment 20000
Total 500000
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Structure of Management

Promotion
⮚ The company’s promotional sales strategy will be based on following elements:
⮚ Advertising in the Facebook.
⮚ Placing advertisement in the local press, including the prothom alo, the daily star, and
the independent etc.
⮚ Developing affiliate relationship with other service provider that would receive a
percentage of sale to the referred customers.
⮚ Word of mouth referrals- generating sales leads in the local community through
customer’s referral.
⮚ Seasonal discounting offers.
⮚ Offering limited time package up gradation.
⮚ We will also promote our business through our officials.
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Servicing Fees and Packages

Our wedding plan include different packages. We have put different packages and
tastes base on the customers need and want. We have three packages:

Platinum Package: This package’s budget starts from Tk.10,00,000 and more. Here
we will provide the clients –Wedding venues, wedding themes, wedding photography and
cinematography, wedding mithai sweets, flower decoration, wedding music, wedding
shopping guide, wedding jewelry, wedding invitation card, wedding entertainment and
choosing the caterer.

Gold Package: In this package offer we offer Wedding venues, wedding themes,
wedding photography and cinematography, wedding mithai sweets, flower decoration,
wedding jewelry, wedding entertainment, choosing the caterer and the budget here starts form
7,00,000.

Silver package: in this package we offer wedding venues, wedding photography and
cinematography, wedding mithai sweets, flower decoration, choosing the caterer and the
budget here starts from 3,00,000.

Conclusion
The fast pace of the world we live in leaves little time for extra things we would like to do
like plan events, parties and social get together. Occasions fills the need by being available to
take on the burden of planning so that people can spend time on more important things, like
family and friends. So they need a helping hand which will be given to them by “Blue Event
wedding consultants and management organization. It is their money and our commitment.
That’s why we say “ be satisfied with dreamy way”. Together we will create dream where
each moment will be dreamy.