SWOT Analysis in Event Planning
This blog sheds light on SWOT Analysis in Event Planning as we all know Event Management is the process of analyzing, planning, marketing, producing and evaluating an event. It is a different way of promoting a product, service or idea.
If an event is managed efficiently and effectively, it can be used as a very powerful promotional tool to launch or market a product or service. Events Management requires certain core values to be deployed to every element, process and decision to justify professional approach and achieve effective and efficient results.
Types of Events
- Corporate Events – Events like HR Summit etc.
- Education and Career Events – Events like education and career fair, workshop, seminar, debate, contest, competition etc.
- Private Events
- Social Events
Products/Services Research
If you are organizing a corporate event then it is necessary for you as an event manager to do research of the products/ services promoted and sold by your corporate client.
- Find out how the company promotes its products
- How the company wants to build/enhance the image associated with its product (also known as the brand image)?
- What is the market value and market share of the company and its products?
- Who are the customers of the product?
- What are the features of the product?
- What are the advantages and disadvantages of the product in comparison to competitors’ products?
All this research will later help you in making an effecting promotional campaign for your corporate event.
SWOT Analysis
It is a strategic planning tool which is used to identify and analyze the strengths, weaknesses, opportunities and threats involved in your project. SWOT analysis can also be done on your organization.
Strengths:
These are the attributes of your project/organization which are helpful in achieving project’s objectives. For e.g.: experienced event team, high motivation level, excellent PR, good market share etc.
Weaknesses:
These are those attributes of your project/organization which are harmful in achieving project’s objectives. For e.g.: social loafing, lack of funds, inexperienced event team, low energy level, lack of media and corporate contacts etc.
Opportunities:
These are those external factors which are helpful in achieving the project’s objectives. For e.g.: little competition, favorable economic conditions, support from the local authorities, availability of the state of the art infrastructure etc.
Threats:
These are those external factors which are harmful in achieving the project’s objectives. For e.g.: high competition, little or no support from local authorities, bad weather, poor infrastructure, high lab our rate, unavailability of raw material etc. It is very important that you conduct SWOT analysis before developing an event plan to develop a strategy which maximizes the potential of strengths and opportunities of your project and at the same time, minimizes the impact of the weaknesses and threats.
AW Events Pakistan is a creative event management company based in Lahore that caters different events ranging from formal business meetings, Corporate Seminars, Family Gala Events, Event Decoration, Wedding Events, Event Décor, Artists Management, Performers, Comperes/Hosts, Promotion and Marketing, Brand Activation, Mascots, Game Shows, Cultural Dance.
We are an all-rounder, tapping various verticals when it comes down to celebrating the grand way.
