What is Event Marketing?

There are certain strategies to follow which are applicable no matter what the size of the budget in these are:

1. Identifiable target market
2. Accurate positioning
3. Good channels of distribution
4. An effective launch strategy
5. Category domination
6. Sustaining power
7. Delivery of a promise

It's your creative thinking, not the limit to your spending power that determines your success. A major marketing tactic employed in the Event Marketing strata are:

1. The need to use multiple channels of distribution- Gone are the days of relying solely on receipts. Videocassettes, cable and network television and foreign sales are all diverse sources of revenue.
2. The importance of synchronous launch- Forget about launching a product market by market, consumers have short attention spans and multiple entertainment options.
3. The aggressive use of credible endorsements- if someone raved about your product, let everyone know. Consumers are generally influenced by third party testimonials

At the same time, the entertainment and event industry has taught some tough lessons the hard way. For e.g.- don’t let your costs run high that returns on your investments is impossible and never advertise or distribute your product when everyone is releasing theirs.

Entertainment/ Event marketing involves the setting of prices, packaging, advertising, distribution and merchandising of just about any form of entertainment or event available for public consumption. Travel has begun on the information super highway. Shortly millions of people will encounter a staggering selection of entertainment through satellites, phone lines, high-powered PCs and hundreds of cable television channels. Then there will be a profusion of new ways to reach these consumers.

While it is true that the public has a voracious thrust for some new event, simply producing a product or event no long guarantees success. Prior to risking thousands or even millions of rupees promoters, producers and entrepreneurs must determine exactly who their audience or target audience is and how best to reach it. Reaching your target is half the battle won. Convincing them that it is the best thing that has happened requires marketing prowess.

Whether you call it marketing or hype, great advertising is a kind of art that can often help propel your product towards a very profitable existence within its short life span.

Before we dive into the wonderful world of event marketing, we need to look at the world of advertising.