Event Property In Event Marketing

In literal terms event property is the unique feature(s) of the event that could be used to facilitate the organizing of the event uninterrupted.

Event property can be defined as a feature of event concept that detaches the event from constraints posed by scrutinizing. In marketing terms the way brand is associated with consumer and industrial products can be termed as event property in event marketing.

It virtualises an event concept that can be organized universally using different artists and venues for each client and the target audience as per their requirement. It restricts the degree of freedom with which the event can be carried out to a certain extent. However it also removes short comings or hurdles from preventing the event from

Occurring every four year, the Olympics move to different countries and have different athletes, clients and sponsors every time. The event property here is providing athletes from the entire world a common platform to compete in different sporting events to bring glory to their nation.

The difference here when compared to different event like FIFA world cup is Olympics is the home for every sport while FIFA honours football.

Properties of a Successful Event

1. Objectives: Clear objectives are at the crux of any successful event. It should be clear what the event is planning to achieve and how it fits in a company’s strategy.

2. Adherence to brand: The event should be in sync with the values and ethics of the product and the company. The event should embody the ethos of the brand. For example, a food and beverage company like Coca Cola is more likely to sponsor or organize a music concert attracting young crowd which is its target audience to launch a new drink.

3. The right resources: This especially applies to the physical events like trade shows and concerts. Physical events are expensive so it is important to keep in mind the investment and the Return on Investment (ROI) while planning and budgeting an

Companies realize the importance of positioning in advertisement as they put themselves in front of the target audience. For example: Lakme 9 to 5 range of cosmetics is manufactured for women who are working so even the advertisements also focus on them instead of housewives.

Positioning in Sales Locations: Placing billboards or TV commercials is not enough for positioning, it is important that the product finds the proper distribution channels. If the majority of the target consumer lives in urban areas then positioning of the distribution channels should be more towards the urban areas rather rural market place.

Positioning through Price: The price of the item tells the buyer more about the item than most realize. Customers in most cases have a mind set in most cases to attach high process to superior quality and vice versa. If the company plans to target the urban middle class population they must price the product in such a way that product should be an alternative to high priced brands and it also should be compared to the cheap end