A study on the Effectiveness of Events Management in the Brand Management Process
Events Management refers to the application of project management to the creation and development of festivals, events and conferences. It involves studying the intricacies of the brand, identifying the target audience, conceptualizing the event, planning the logistics and coordinating the technical aspects before the event takes place.
Experiential marketing allows customers to engage and interact with brands, products, and services in sensory ways that provide the icing on the cake of providing information. Personal experiences help people connect to a brand and make intelligent and informed purchasing decisions. Experiential Marketing refers to actual customer experiences with the brand that drive sales and increase brand image and awareness. It is the difference between telling people about features of a product or service and letting them experience the benefits for themselves. When done right, it is the most powerful tool out there to win brand loyalty. Brand management on the other hand focuses on the brand building process. It includes product development, public relations and publicity, pricing and distribution, internet and digital communications, advertising and retail, marketing and events. It includes analysis and planning of how a brand is positioned in the market, what its target market is and maintaining the desired reputation of the brand. Developing a good relationship with the target market is crucial to the brand.
Brand management involves both tangible and intangible aspects. The tangible aspects include the product itself in terms of the look, the pricing and the packaging. The intangible aspects on the other hand include the experience that the customer takes away as well as the relationship they have with the brand.
Events in general have undergone huge changes in the world and now hold a place in society that cannot be ignored. In the recent past a large number of organizations have taken up events as a means of marketing themselves, building business relationships, raising money and celebrating in one way or another. The sectors that have embraced events management include, sports, tourism, banking, FMCGs, entertainment and telecommunications. For example the events sector as observed by Uysal and Xiangping, 2008; Dwyer, 2008 is one of the fastest growing areas of the tourism industry.
Events management is now considered a strategic marketing and communication tool by organizations of all sizes. Companies organize promotional events as a way of reaching out to their target markets; they do so by inviting them as the audience in order to reach them directly. Promotional events are also used to create publicity for their products through the media coverage that may ensue from the event. Companies sponsor events in order to create or maintain awareness. This is sometimes referred to as corporate hospitality.
This paper seeks to establish the place that events management has in the marketing industry in Kenya as well as the value addition of sponsoring events in building brand image and awareness.
Statement of the Problem
The marketing arena is a dynamic and fast changing environment and thanks to the new ICT technologies, combined with marketing processes, consumers have become increasingly smart, sophisticated, aware and hard to please. They demand products and services that must be increasingly adaptable, tailor-made and accessible, and companies must adopt a strategic approach of maximum differentiation that has already been analyzed by authoritative scholars in the 1980s (Porter, 1980).
Brand equity continues to represent a crucial component of modern marketing. According to David Aaker, (1998) despite the often obvious value of a brand, there are signs that the brand building process is eroding, loyalty levels are falling and price becomes more salient. The value of an...
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