To complete this thematic paper, I would like to thank my advisor, Dr. It is also my duty to record my gratitude to the CEO's of four event marketing companies for their time and giving me the opportunity to interview. Traditional marketing has become less effective as customers want to try out products or services, making event marketing business more popular.
Therefore, the purpose of this research is to explore what the essential elements of an event marketing business in the Thai context are, and to identify main criteria and sub-criteria for a successful event marketing business. Data were collected from tape-recorded interviews conducted with CEOs of four event marketing companies in Bangkok. The study revealed that essential elements of event marketing business include entrepreneurial skills, creativity and leadership.
INTRODUCTION 1
- Problem Statement 3
- Research Objective 3
- Expected Benefit 3
- Research Questions 3
- Research Scope 4
Therefore, event marketing is a challenging task for marketers to attract the attention of the target group. Event marketing is such an important part of any business that the growth rate of the event marketing industry has increased exponentially. This theme will focus on event marketing companies, which are in a constant state of evolution by developing breakthrough strategies and concepts that drive business success.
It will also examine essential elements of event marketing companies in Thai context from the perspective of entrepreneurs and how they achieve target growth of their businesses, as well as measures, sustainability and demands of the industry. This research will be beneficial for new entrepreneurs interested in the event marketing industry. This research will focus on essential elements of an event marketing company by interviewing the CEO of four event marketing companies who are experts in this business area as they are best qualified to answer the researcher's questionnaire.
LITERATURE REVIEW & HYPOTHESIS DEVELOPMENT 5
Communication skills 6
An event marketing company owner needs sales skills to be able to sell his ideas to clients. Creative event marketing doesn't have to mean a grand spectacle on the world stage. This conceptual framework explains the result of the literature review, which shows that the necessary elements of an event marketing business should consist of three criteria: skills, creativity and management.
Data analysis is based on in-depth interviews of four stakeholder respondents of event marketing companies. Based on his experience in the event marketing industry, good salesmanship is the first step to good customer interaction. In addition, the directors of companies A and D claimed that event marketing tasks are constantly faced with problems such as operational problems and.
It is recognized that an event marketing entrepreneur must have communication and sales skills to describe their events to clients correctly and accurately. As we all know, event marketing companies don't sell tangible products, they sell clients their dreams. In addition, the CEO of Company B also said that the first priority of event marketing is creativity that can add value to the company.
In his case, he will be an expert in music platform within event marketing. He didn't add any personal creativity to the job compared to larger event marketing firms. Three respondents confirmed that creativity is the first thing that popped into their minds when thinking about elements of event marketing business because of its ability to add value to their businesses.
The research studied the necessary elements and through interviews defined the main criteria and sub-criteria of an event marketing company in the Thai context. In terms of the necessary elements of an event marketing firm, the findings reaffirm the conceptual framework of previous work, which are skills, creativity and leadership. Keep up with new trends - event marketing is growing very fast; therefore, the company must follow new trends to be able to effectively approach the target audience.
I had only conducted interviews with four companies, so they may not be able to represent all event marketing business entrepreneurs in Thailand in general, which affects the accuracy of the results. Furthermore, the necessary elements of the event marketing company in the opinion of others may differ from mine.
Negotiation Skills 7
Sale Skills 7
Business Life Cycle 8
Startup – In this phase, the entrepreneur tries to raise sufficient funds to start a successful business. The manager often lacks capital and knowledge, but has a lot of enthusiasm. Growth - During this period, the company expands rapidly in terms of the number of employees.
Maturity - During the maturity stage, the entrepreneur has reached full employment and the size of the business stabilizes.
Creativity 9
- Individual Creativity 9
- Organization Creativity 10
- Creative Event Marketing 11
Even the most legendary inventor, such as Thomas Edison, is often a team in disguise (Kelley, 2001). The idea of a solitary genius distracts us from the more useful focus on the higher potential source of creativity. People will be most creative when they feel motivated primarily by the interest, satisfaction and challenge of the work.
A creative organization, as a collective of creative people working as a team to promote organizational creativity among individuals, seeks to remove barriers and obstacles that hinder creativity. A creative organization must be flexible while controlling entrepreneurial risk, offering the freedom to seek new knowledge through learning and experimentation. The need to be a flexible organization is true in that 'good practices' will promote creativity; 'best practices'.
In addition to designers and developers, non-specialist actors such as users and intermediaries play an active role in providing knowledge to enhance creativity by ensuring that products are fit for purpose and providing valuable knowledge. The diffusion of knowledge between a creative organization, individual employees and users, and different creative cultures and orientations influence event ideas and contribute to success. Problems at functional interfaces – such as those between marketing and design – are identified and perhaps new bases for best practices are developed.
According to Richard Florida, exercising creative skills in providing services and during production can provide a much-needed boost to the economy, increasing productivity and purchasing power and boosting demand, as creativity is the new economy. Furthermore, Richard Florida founded the creative capital theory, the view that “regional economic growth is driven by creative people.” But regardless of size, creative event marketing means the same thing; to create value for your audience in highly personal, participatory and immersive ways to create brand fans, not just customers.
After all, the most direct route from a brand's product or service to the customer's mind and heart is creative event marketing, those moments when the customer meets the brand face-to-face and consciously decides to let it into his/hers.
Management 12
- Event Marketing Management 12
- Technology and Network 13
To reduce overall costs: The more integrated and efficient your event management technology is, the more you save and provide your attendees with a seamless technology experience. Improving ROI: event technology can improve your bottom line through experienced technology strategies, improved logistics, more efficient implementation and an overall coordinated approach. Event technology can therefore help a company's events to be successful and ensure that your events run smoothly.
Conceptual Framework 14
The data for this study was collected from stakeholders from four event marketing companies because they know best about how to start an event marketing business and where the opportunities are. Before entering this business, he had friends whose acquaintance was a music director in the music industry, responsible for organizing concerts and was also interested in event marketing. Regarding the skills of an event marketing company, almost all respondents stated that "The skills that an event marketing company should have are sales skills and negotiation skills." Customer service is very important, as account executives have to sell event services to their customers, just as event tasks require constant customer handling from the beginning to the end of the project.
From an interview, the CEO of Company B argued that "an event marketing company must have both hard and soft skills." He elaborated that hard skills mean having a deep understanding of the business, while soft skills refer to connections and negotiation skills to deal with other people. He claimed that his company always adds creativity to event marketing to create more value and differentiate its events based on theme or gimmick. He then stated that event marketing is a kind of below-the-line medium that is becoming increasingly effective in reaching customers and is easily measurable.
This finding is consistent with other research showing that event marketing management tasks involve significant time pressure. As there have been many advances in consumer technology recently, event marketing companies must learn to leverage new technologies and identify the most effective way to access consumers and meet consumer demands for personalization and customization. Ideas and Skills – This is the importance that event marketing entrepreneurs must have to start the business in terms of creative ideas to sell their ideas to the customer as well as the entrepreneurial skills.
Creativity - A business must always be able to come up with exciting new ideas that can surprise customers to be sustainable, also identify the characteristic of the company to be unique in particular areas of event marketing, such as expertise in music events or fair events etc. Live Events Push Connection and Transactions, Event Marketing Institute, (2001) http://www.eventmarketing.com/wp-content/uploads/GenYStudyfinal.pdf Mcdaniel, JR.RogerGates, (2013) Marketing Research.
