SWOT Analysis of Event Management
Product investigation:
When an event manager is organizing a corporate event then it’s essential for him to investigate and research about the services and products that are sold by client.
• Check how the company advertise products
• How company makes an images in industry about the product
• What is market price, worth and cost of the products.
• Clients buying the products
• Qualities and traits of product
• Positive and negative aspects of product
•
All of this effort and work will help you out to do marketing thrive and drive of product for your corporate event.
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What is SWOT :
In SWOT Analysis:
'S' means Strengths
'W' means Weaknesses
'O' means Opportunities
'T' means Threats
Swat is a analytical and methodological theory .Swat analysis is used to check your business power, weak point and then provide you to new opportunities and alarms. You need to be aware of threats involved in business plan. Good method is to make a large sheet of paper and make four tables of strengths, weakness, opportunities and threats.
Strengths:
These are the qualities and power of your company to achieve the objective and aims. They help you to function better and enhance you positive features than other competitors in the industry. Strengths of an organization can be high qualification of team, motivation, time management and technical information.
You should concentrate on following point
• What make you different from other companies?
• How you will compete with others?
• Sort out positive and negative energies in your team members.
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Weaknesses:
You should improve, these weak aspects can be damaging to your company reputation. E.g lack of coordination, planning, time management, money, sponsors, no working drive in team and no social networking.
You should concentrate on following points
• What are weak areas?
• How to make policies to achieve improvement level.
• How did it go wrong?
• Sort out problems and complaints
Opportunities:
You have to check about the new trends in event industry and adopt them as soon as possible. These factors are useful to gain your aspiration. E.g funds, strong infrastructure, good sponsor ship program, favorable environment.
Keep yourself updated about following issues:
• Change in marketing plan
• Updating about innovative technologies
• Local and international event plans
• Government policies
• Marketing tools like social media, print media and electronic media
Threats:
These are dangerous elements that can affect the success of you event. E.g lack of staff members, lack of funds and aids, no promotion and advertisement of event, no sound budget plans, weather issues, lack of event tools etc. Do SWAT analysis before making an event proposal. That will help you to minimize the threats level and increase your potential and power for work.
You must know
• What other companies are doing to cope with threats?
• What should be the plan if there is any change in industry, technologies and services?
• How to face financial problems and then solve them?
Analysis Report
After all SWAT analysis do paper and research work and demonstrate all points clearly. Make a feasibility report that will help you to get high bid and funding for your event.
