Costed plans for an event at Metro Bar, Luton Campus - University of Bedfordshire

Marketing strategy for the event

Individual report containing your costed plans for an event. You will initially be put into groups to conduct the research for the event. You will then be expected to write and submit an individual report for this assessment.  The event type is to be decided upon by you and your group and it has to be hosted at the Metro Bar, Luton Campus, University of Bedfordshire. The Metro Bar has a capacity for a maximum of 200 people.

In the report, you are expected to include:

i.Your marketing strategy - this must include details of the Marketing Mix, as related to your chosen event

ii.Your human resource requirements - this must include details of the various staff required for the event and their roles/responsibilities, including staff required for the pre-event activities (such as promotion) to post-event activities (such as cleaning)

iii.Your financial details – this must include details of all the costs involved in the whole organisation and running of the event. You must also provide details of your break-even point

Please ensure you also look at the assignment brief and marking grid for assignment 2 on BREO.

For the Marketing element of the assignment, you should:

·Select the appropriate ‘P’s’ that are most applicable to your event idea. You must justify the relevance of certain P’s over others. You do have to go into the details. For example, if you decide to sell tickets for the event at £10 each, then there must be a reason for selecting this price (looking at prices for similar past events/researching what local nightclubs are doing, etc.). Also, if you want to promote via social media platforms, then you need to justify why/how, etc. Do use the ideas presented in the lectures.

For the HR element of the assignment, in addition to identifying the staff required for the event (pre-/during/post-event), you should:

·Provide a justification as to why certain staff/skillsets are required. This does not have to be elaborate, but there should be reasoning as to why four security staff are required, etc.

·Be able to identify what each staff member will be able to contribute to the event – this will involve a consideration of job roles and tasks of each staff member

·Consider how you will recruit the required staff

·In youir appendices, add 1-2 job descriptions

For the Costings element of the assignment, you should:

·Decide on how many tickets you will sell and calculate potential revenue

·Identify the cost of everything – e.g. DJs, security, lighting costs, etc.

·You do not need to calculate the cost of the drinks sold as this will be tricky. However, you do need to consider the cost of one free drink per customer

·Identify the fixed and variable costs

·Calculate the potential profit, profit margin

·Calculate the break-even point