Final Project on Event Mngt

In: Other Topics

Submitted By anjiptl
Words 10800
Pages 44
Chapter 1

Situation Analysis
Due to the fact that Options Weddings & Events has to be built from the ground up on the Indian market, it is essential to research this new environment thoroughly before defining the mission and vision of the company and its strategy. Thus, this chapter will give an overview of the external analysis and will present the information and data about the Indian events market as well as competition and trends in the events branch.

1.1 The market environment and its growth

Firstly it is essential to find out if there is a demand for the service the company wants to provide to potential clients, then how it should be positioned among its competitors and finally, what the trends on the particular market are. Events organization is a very dynamic and fast growing branch on the Indian market .Only in the region targeted by Options Weddings & Events, there are about 1066 events management companies. However, there are about 70 companies visible on the market with any promotional activities, the majority of them focusing on company events with a business character. Since Options Weddings & Events base market composes of individuals there are only two serious competitors, namely Percept and Wizcraft, both organizing business and private events. In terms of demand for private events, the questionnaire findings clearly stated that 57,14 % of the surveyed target group ( male and female with an international background aged 25- 45 and above) would hire an event management company to organize any kind of private event and 42,86 % of the respondents would not, due to financial matters. Individuals are still willing to hire a professional agency to organize any kind of event while demand for business events decreased due to the economic crisis. The latter has also influenced the clients’ expectations regarding the price of the events. Wanting to…...

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