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Business Events In A Global Context
  • 13

  • Course Code: BEG609
  • University: Torrens University
  • Country: Australia

In your groups of no more than five (5) students, develop an event concept proposal for a 1 or 2-day MICE (Meetings, Incentives, Convention, Exhibition) event that is designed with originality and creativity, which is attractive yet feasible, to be held at any chosen location worldwide within the next five (5) years. Your proposal must include the components stated in the following guidelines. This business proposal pitch will showcase your ability to conceptualize the elements needed to design an event experience, skills in event planning and application of event theories adapted from the unit.

Introduction:

• Event background and purpose (What is the event, why is it needed, when and where will be held, plus forecast attendance)?
• Target market and their demographics (Who and where is your market from?)
• SWOT analysis of your chosen event destination city/country

Main Body: (include pictures and infographics throughout the proposal to enable examiner’s better understanding of concepts)

• Event Theme (describe the ambience, what décor, furniture, lighting, set-up etc.)
• Event Layout (a ‘floorplan’, digitally presented, with legends required with labelling)
• Stage Design (if applicable)
• Event Schedule (from the start of the programme until the end of the programme including bump-in and shut down for crew)
• Permits and Licenses needed (e.g. Local Government, State Government, FederalGovernment, OH&S, Entertainment License)
• Marketing and revenue strategy
• Sponsorship tier (minimum of three) and potential partners (minimum of three)

One futuristic technological concept must be introduced in your proposal as part of the event experience. Demonstrate where this would be used through your marketing
and/or sponsorship plans pre, during and post-event. Consider an augmented product which is a highlight or WOW factor that can help inspire attendance at your event or
bring an experiential element to the event. This is your opportunity to be creative and ‘think outside the box’ adding value to the event. Reference where you can.

Conclusion

References (at least 12 academic references cited in report)

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GROUP PROPOSAL - EVENT CONCEPT BUSINESS PITCH

Introduction

Event Background and Purpose

The two-day "Innovation Nexus Conference," which this report suggest hosting as a Meetings, Incentives, Convention, and Exhibition (MICE) event, aims to bring together experts from many disciplines in order to promote innovation, collaboration, and information sharing. This seminar is current and important since the business world is always changing and developing. Singapore, a leader in technology, innovation, and entrepreneurship, will host the Innovation Nexus Conference. 
 
The conference will take place in Singapore within the next five years, leveraging the city-state's top-notch facilities and thriving business community to foster cutting-edge discussions and ideas. This year, it is projected that the Innovation Nexus Conference will include 500 thought leaders, corporate executives, educators, and students. There will be experts from a variety of fields, including IT, finance, healthcare, and industry, resulting in extremely interesting debates and information exchanges.

Participants will be urged to see innovation as essential to the future development of their firms, with a focus on teamwork and the sharing of ideas (Ning, et al. 2023). The conference will promote linkages, cross-industry learning, and the examination of future trends and developments by bringing together thought leaders, experts, and disruptors from a number of disciplines. The Innovation Nexus Conference's keynote presentations, seminars, panel discussions, and exhibits will provide attendees the skills they need to spot trends, establish innovative projects, and find previously untapped development prospects (Gerner, 2019). Its goal is to foster innovative thinking so that Singapore may lead the world in technological growth.

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Target market and demographics

The Innovation Nexus Conference is open to professionals of all backgrounds who are dedicated to advancing their respective fields. There will be something for everyone at this event.

Industry Leaders:     Agu, et al. 2021 posit that individuals occupying prominent positions within an organization, such as the chief executive officer (CEO) and other senior management personnel, assume the role of industry leaders. These leaders have the responsibility of fostering an environment conducive to innovation and formulating the company's overarching strategic goals for the future.
Entrepreneurs and Startups: This is a group comprising of nascent business proprietors that possess a strong desire to acquire knowledge and establish connections with peers in similar circumstances.
Researchers and Academics:Within the realm of academia, there exists a diverse group of individuals including scholars, scientists, and researchers who are actively involved in pioneering research and development endeavors. These individuals possess a keen interest in establishing connections with business leaders and gaining insights about the commercial viability of their scholarly pursuits.
Professionals in Innovation and Technology Roles:     This course is potentially beneficial for those in the fields of technology, innovation management, product management, and engineering who wish to enhance their understanding, enhance their professional connections, and remain up-to-date with the most recent advancements in their specific areas of expertise.
Government and Policy Makers: Government agencies, lawmakers, and regulatory bodies play a crucial role in facilitating the development of a dynamic creative environment and formulating policies that promote and support innovation.

The intended audience consists of a diverse group of working professionals of varying age, gender, and culture. The event's organizers aim to attract participants from all over the world, with a focus on the Asia-Pacific region, and they intend to do so in a manner that is inclusive of people of all backgrounds and orientations (Avgoustaki, & Xydis, 2020).

Content, networking opportunities, and programming may be better tailored to the needs and interests of the target audience if the organizers have a solid understanding of their demographics. To achieve its objectives, the Innovation Nexus Conference must attract a large audience.

SWOT analysis

swot anlaysis

 

  • Strengths:    

    Strategic Location: Barcelona's strategic geographical position renders it a magnet for tourists hailing from many European nations and beyond. The accessibility of the place through many modes of transportation, including air, train, and road, renders it very suitable for foreign tourists.

    Richness and history in culture: Barcelona's architectural masterpieces, like the Sagrada Familia and Park Güell, possess a profound historical legacy and cultural importance, rendering the city an esteemed hub for tourism and communal congregation.

  • Weaknesses:    

    Changes with the seasons: The variability in visitor influx over time can lead to swings in hotel prices and the potential introduction of new attractions in Barcelona, resulting in potential increases in both.

    Possible Competition: Due to its status as a popular conference and convention location, Barcelona is susceptible to the occurrence of concurrent events (Cassman, & Grassini, 2020).

  • Opportunities:    

    Local Expertise: Barcelona boasts a heterogeneous population of proficient individuals and esteemed institutions that possess the potential to fulfill roles as presenters, moderators, and group leaders throughout the event.

    Collaboration with Local Industries: The event possesses the capacity to facilitate the convergence of local firms, entrepreneurs, and innovation centers, therefore fostering opportunities for networking, information dissemination, and prospective collaborations among local industry.

  • Threats:    

    Economic and Political Stability: The potential consequences of economic and political instability within the region can have an influence on several aspects such as travel arrangements, the availability of gifts, and the overall attendance rate (Petrariu, et al. 2021).

    Rival Events: As a consequence of Barcelona's prominent reputation, it is plausible that there may be concurrent events vying for the attention of a similar target audience. A possible consequence of this situation is a decrease in both attendance and potential interest from sponsors.

Discussion

Event Theme: "TechScape: A Journey into the Future"  

  • Ambience:     According to Wang, et al. 2021, Participants will be captivated by the event's avant-garde ambiance and motivated by the experience of being transported to a realm of innovative research and development.

  • Décor:     In contemporary settings, one may observe prevalent instances of sleek and minimalist designs including an assortment of metallic components, captivating LED lighting, and visually striking digital screens.

  • Furniture & Layout:     Contemporary and practical furniture will be provided for all occasions and gatherings. The establishment will have advanced recreational spaces equipped with adaptable seating arrangements, designed to foster dialogue and promote a state of calm. In order to ensure the engagement and connectivity of visitors during their visit, the venue will be outfitted with interactive touchscreens and charging stations.

  • Lighting:     The lighting arrangement plays a significant part in generating the ambiance. The arena will be equipped with advanced LED lighting systems that are capable of dynamic and adjustable configurations, facilitating the creation of visually stunning light displays. According to Murthy, et al. 2021, the lighting arrangements for the event will be carefully synchronized with the dramatic segments of the performance.

  • Technology Integration: The event will heavily depend on advanced technology in order to provide attendees an exceptional and unparalleled experience.

    By employing augmented reality (AR) and virtual reality (VR) technologies within designated venues, participants will have the opportunity to acquire knowledge on advanced ideas and engage in immersive interactive simulations.

    According to Wichmann, et al. 2022, digital displays and touchscreens offer immediate access to information, event updates, and interactive content.

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Event Layout

There will be several distinct sections within the primary venue:

  1. Plenary Hall: The expansive facility will serve as the site for a multitude of presentations, discussions, and keynote speeches. The event will feature contemporary audio-visual equipment, large-scale projection screens, and ambient lighting. The seating arrangement in the venue will be configured in a theatrical manner, ensuring optimal visibility and auditory accessibility for all participants (Purwanto, et al. 2021).

  2. Innovation Exhibition Area: Situated in close proximity to the Plenary Hall, this designated space will showcase state-of-the-art advancements brought forward by both established enterprises and emerging entrepreneurs. According to Khan, et al. 2020, every firm involved in the event will be assigned a unique display, identified by both name and number.

  3. Networking and Collaboration Spaces: The allocated area will be partitioned into many networking and collaboration zones, with abundant seating arrangements, raised tables to facilitate informal discussions, and charging outlets for mobile devices. The primary objective of these settings is to foster impromptu dialogues and cultivate interpersonal relationships.

  4. Breakout Rooms: There exists a variety of smaller venues that may be utilized for conducting workshops, seminars, and break-out sessions. To enhance the collaborative nature of assignments, meeting areas will be equipped with whiteboards and projectors (Ning, et al. 2023).

  5. Catering and Refreshment Stations: Strategically positioned food and refreshment stations will be strategically placed to offer a diverse selection of snacks and beverages to attendees throughout designated breaks and meal periods. According to a study conducted by Gerner, 2019, it is anticipated that there will be a complete absence of generic beverage labels by the year 2022.

Permits and Licenses Needed

  • Permission from the local government: If one wish to hold the event, one will need permission from the local authorities; therefore, one should submit the application as soon as possible. This permit ensures compliance with regulations regarding gathering size, building usage, and pollution levels.

  • Permit from the state government: With approval from the provincial government, whether this is required will depend on the nature and scope of the event. This permission may be used for traffic control, disaster relief, and public safety in general.

  • Federal Government Permit: If foreign nationals will be present or secret technology will be utilized, permission from the federal government may be required. If one have this visa, one are permitted to travel within the United States so long as one comply with all immigration, customs, and security laws.

  • Compliance with Occupational Health and Safety (OH&S): Occupational Health and Safety (OH&S) Law Compliance is the safety of all consumers, employees, and suppliers. Follow all workplace safety regulations and obtain the necessary certifications (Pascucci, 2021).

  • Entertainment Licence: If the event will feature live performances, musical performances, or any other form of entertainment, a license may be required. This license ensures compliance with copyright regulations and permits the legitimate use of creative works (Lazaro, et al. 2021).

Marketing and Revenue Strategy

  1. Targeted Marketing plan: Develop an all-encompassing advertising plan that integrates remunerated and unsolicited online placements, both organic and sponsored social media promotion, email marketing, and the production of tailored content (Glibo, & Koenigstorfer, 2023). By employing data-driven methodologies, it is possible to effectively identify and engage the relevant audience by employing marketing materials that highlight the distinctive attributes of the event.

  2. Partnerships and Collaborations: Extend invitations to prominent figures in the sector, key representatives of pertinent organizations, and media personnel with the aim of garnering support for the event and augmenting participation. According to Khan, et al. 2020, it is important to engage in partnerships with influential organizations, prominent technology companies, and centers of innovation in order to enhance one's sphere of influence.

  3. Early Bird and Group Discounts: Implementing incentives to encourage early registration and group participation represents a prudent approach to augmenting attendance rates. According to Purwanto, et al. 2021, the implementation of concise limitations will elicit a heightened perception of time sensitivity among individuals.

  4. Sponsorship Packages: Develop compelling sponsorship packages that offer a range of advantages and opportunities for potential sponsors, therefore enhancing their exposure and engagement (Agu, et al. 2021). Sponsorship packages encompass many components such as promotional mentions, speaking engagements, and invites to exclusive networking events that are specifically curated to align with the sponsors' objectives.

  5. Tickets and Registration: Employ a dependable online ticketing and registration system that enhances the efficiency of participant registration, ensures safe payment processing, and facilitates the collection of data for marketing endeavours.

  6. Upselling and add-ons: The utilization of premium services, such as the provision of early entrance privileges, VIP events, seminars, and exclusive networking opportunities, has the potential to enhance revenue generation.

  7. Exhibitor and Booth Sales: Our company offers booths and show space for enterprises and entrepreneurs that are interested in promoting their products. The ultimate outcome will be the generation of profits. Murthy, et al. 2021 argue that offering suppliers enhanced visibility, prospective sales prospects, and opportunity for networking might be beneficial.

  8. Post-Event Revenue Opportunities: One potential avenue for post-event services is the provision of counselling services, which may be tailored to the knowledge and skills acquired by attendees. Additionally, another option is the sale of session recordings, allowing participants to revisit and further engage with the content. Also, anyone who wants to learn more can gain a lot from the building of an online library of information. Wichmann et al. 2022 say that getting information from people before, during, and after the event is a good way to improve marketing and figure out how well the event went.

  9.  Data analysis and follow-up: Develop an all-encompassing advertising plan that integrates remunerated and unsolicited online placements, both organic and sponsored social media promotion, email marketing, and the production of tailored content (Avgoustaki, & Xydis, 2020). Using data-driven methods, you can find and invite the right people to your event by sharing the word and highlighting its unique selling points in advertising materials.

Sponsorship Tiers

Platinum Sponsorship
•    A logo that will stand out on the event's website, flyers, and posters.
•    One will have the opportunity to engage in one-on-one conversation during a large session (Cassman, & Grassini, 2020).
•    Having an exclusive exhibit in the Innovation Expo Hall.
•    Both promotional and retrospective films on the event should feature the logo. 

Sponsorship in gold:
•    The event's logo is prominently featured on all promotional materials.
•    A chance for a smaller-scale gathering.
•    Through interviews and press releases, the event will receive publicity in advance.
•    Relationship-related content (posts, mentions, etc.) on social media. 

Sponsorship for Silver:
•    Incorporating the event logo into all marketing materials.
•    The Innovation Exhibition Area is available for the upcoming occasion.
•    Using the logo on event materials.

Potential Partners

  1. Technology Company: Work with a cutting-edge technology company to promote their forthcoming products and innovations. Before, during, and after an event, the two organizations can coordinate their marketing efforts (Petrariu, et al. 2021).

  2. Study Organisation: Join forces with a prestigious laboratory that has established a reputation for itself by researching cutting-edge technologies. This cooperation may result in the formation of a venue for exhibiting ground-breaking work and innovative ideas for the development of future technologies. It is possible that joint research papers and press releases will attract more people to the event.

  3. Creator of the Augmented Reality (AR) system: Working with a developer of augmented reality, one can make the entire item appear and feel like an AR experience. This collaboration could result in navigation systems powered by AR technology, AR experiences with user interaction, and in-person product presentations (Wang, et al. 2021). Advertisements may include a brief mention of the event's augmented reality components to stimulate people's interest and entice them to test out the cutting-edge technology for themselves.

Conclusion

In conclusion, our proposed MICE event concept integrates innovation, imagination, and cutting-edge technology to provide participants with an unforgettable experience. This report have meticulously planned and executed an enjoyable event that appeals to a specific audience and exceeds their expectations. Using cutting-edge technology such as augmented reality (AR), this report hope to increase event attendance and participation.

The augmented reality experience will be incorporated into every aspect of promotion, sponsorship, and operation for the event. This cutting-edge technology will further educate, entertain, and astound attendees (Glibo, & Koenigstorfer, 2023).

This report have discovered that offering three categories of sponsorship allows us to provide greater value to our partners and better integrate their brands with the mission of the event. Partnerships with digital companies, academic institutions, and augmented reality developers could significantly enhance the event.

Our well-considered strategy for promoting and monetizing the event will ensure that it is viewed by a large audience, draws a diverse population, attracts sponsors, and generates new revenue. The agenda provides ample opportunities to hear from notable lecturers, participate in engaging seminars, and network with other attendees. In conclusion, our mission is to organize a one-of-a-kind event that promotes open communication and harmonious relationships among its attendees.

This report anticipate that both attendees and eminent figures in the field will gain a great deal from this conference due to the innovative approach to event planning and the use of cutting-edge technologies. 

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References

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Cassman, K. G., & Grassini, P. (2020). A global perspective on sustainable intensification research. Nature Sustainability, 3(4), 262-268. https://digitalcommons.unl.edu/cgi/viewcontent.cgi?article=2332&context=agronomyfacpub
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Glibo, I., & Koenigstorfer, J. (2023). Understanding the nexus of sustainable development and sport: the systems thinking perspective. Sustainability: Science, Practice and Policy, 19(1), 2240664. https://www.tandfonline.com/doi/pdf/10.1080/15487733.2023.2240664
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Ning, Y., Cherian, J., Sial, M. S., Álvarez-Otero, S., Comite, U., & Zia-Ud-Din, M. (2023). Green bond as a new determinant of sustainable green financing, energy efficiency investment, and economic growth: a global perspective. Environmental Science and Pollution Research, 30(22), 61324-61339. https://link.springer.com/article/10.1007/s11356-021-18454-7
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