The events industry improves every year, their are an enormous amount of factors which contribute to the growth of the events industry. these factors either increase or decrease the worth of the events industry (Penrose, 2014).
Households which have disposable income are more likely to attend events because they can afford to go, this expands the events industry to publicise events to individuals who have disposable income to attend these events, Duncann (2000) suggests that disposable income is money left over from households taxes and is there to buy on enjoyment and leisure.
Tourism impacts travelling to the U.K for millions of tourists which leads to money going into the events industry and the economy increasing the events industry worth Sharply (2012) suggests that tourism helps bring money in to business' and the economy, without tourism the economy would decrease in worth as well as organisations such as hotels, airports and other business'.
Transport impacts the events industry because there is more availability of transport and regular transport than in 2008 (Eventia, 2014). Some event companies even do a deal where individuals can pay for a ticket to example London get on the train and have a bus service waiting to take people to the event Oliver (2012) suggests that the public sector funding package for the London 2012 Olympic games is £9.3bn and includes all additional security, defence and public transport provision for the games which impacts the ticket sales due to people getting direct transport to the games meaning an increase in income via public transport due to big events being held increases the use of transport.
Social media has a massive impact on the events industry due to details being updated and published for events to increase individuals awareness of events running. This study examines Facebook ‘events’ as a medium for promoting special events to consumers. Consumer attitudes towards Facebook and consumers intentions to attend an event. Data was collected through an online survey administered through special event organizer’s Facebook ‘Pages’. Findings of the study suggest that users’ trust and expected relationship through Facebook had a significant effect on users’ acceptance of Facebook and their intended offline behavior to attend the event (Morris, 2010) therefore the impact of social media for a business to promote an event is crucial due to the vast amount of individuals using it meaning the publicity will be broadened and a business does not need to spend money to promote the event via social media which is beneficial due to the business having less expenditure and an increase in profit. Tickets can now be brought via Facebook, Twitter and websites this impacts the events easy access to buy tickets online which increases individuals to attend due to saving time to buy a ticket. Technology has made a massive change to the events industry. Apps for phones are designed so the public can get details on upcoming and on going events Greenwell, Danzey-Bussell and Shonk (2013) suggests Twitter,Youtube and Foursquare are now used to promote and market many events. As new technologies emerge, marketers will continue to reach out to new consumers through these new mediums. The impact of the media allows marketers to promote their product to a global audience. In addition as the sport industry continues to grow, there may be greater focus on specialisation within event management although many organisations currently employ a limited number of employees responsible for event. This may change as the roles and duties become more specialised in one or more areas within the industry.
Feedback can be given via social media from the public about events they have attended and what the event business could
improve although this can also be a negative due to the public possibly gaining bad experience after going to an event which could restrain the event due to the experience they had The marketing Donut (2013) suggests that feedback is absolutely vital to business success, but somehow we've created the conditions in the UK to repel it.
Competition for the UK conference market is seen as arising from developments of technology. The increased use of technology means that various conference destinations operate within a global market, as new destinations become accessible through technological developments. Key technological areas that act as a competitive force are:
(The marketing Donut, 2013)
Tourism impacts travelling to the U.K for millions of tourists which leads to money going into the events industry and the economy increasing the events industry worth Sharply (2012) suggests that tourism helps bring money in to business' and the economy, without tourism the economy would decrease in worth as well as organisations such as hotels, airports and other business'.
Transport impacts the events industry because there is more availability of transport and regular transport than in 2008 (Eventia, 2014). Some event companies even do a deal where individuals can pay for a ticket to example London get on the train and have a bus service waiting to take people to the event Oliver (2012) suggests that the public sector funding package for the London 2012 Olympic games is £9.3bn and includes all additional security, defence and public transport provision for the games which impacts the ticket sales due to people getting direct transport to the games meaning an increase in income via public transport due to big events being held increases the use of transport.
Social media has a massive impact on the events industry due to details being updated and published for events to increase individuals awareness of events running. This study examines Facebook ‘events’ as a medium for promoting special events to consumers. Consumer attitudes towards Facebook and consumers intentions to attend an event. Data was collected through an online survey administered through special event organizer’s Facebook ‘Pages’. Findings of the study suggest that users’ trust and expected relationship through Facebook had a significant effect on users’ acceptance of Facebook and their intended offline behavior to attend the event (Morris, 2010) therefore the impact of social media for a business to promote an event is crucial due to the vast amount of individuals using it meaning the publicity will be broadened and a business does not need to spend money to promote the event via social media which is beneficial due to the business having less expenditure and an increase in profit. Tickets can now be brought via Facebook, Twitter and websites this impacts the events easy access to buy tickets online which increases individuals to attend due to saving time to buy a ticket. Technology has made a massive change to the events industry. Apps for phones are designed so the public can get details on upcoming and on going events Greenwell, Danzey-Bussell and Shonk (2013) suggests Twitter,Youtube and Foursquare are now used to promote and market many events. As new technologies emerge, marketers will continue to reach out to new consumers through these new mediums. The impact of the media allows marketers to promote their product to a global audience. In addition as the sport industry continues to grow, there may be greater focus on specialisation within event management although many organisations currently employ a limited number of employees responsible for event. This may change as the roles and duties become more specialised in one or more areas within the industry.
Feedback can be given via social media from the public about events they have attended and what the event business could
improve although this can also be a negative due to the public possibly gaining bad experience after going to an event which could restrain the event due to the experience they had The marketing Donut (2013) suggests that feedback is absolutely vital to business success, but somehow we've created the conditions in the UK to repel it.
Competition for the UK conference market is seen as arising from developments of technology. The increased use of technology means that various conference destinations operate within a global market, as new destinations become accessible through technological developments. Key technological areas that act as a competitive force are:
- Increased use of the internet or information means that trade exhibitions are not as busy as previous usual as clients can research and communicate through the web. Buyers are using websites for research rather than having to attend exhibitions
- Video conferencing and business communications reduces the need for face to face meeting
- An increased willingness from delegates to utilise and expect state of the are technology
- Broadband internet access-British telecom’s monopoly of telecommunications is hampering the UKs progress. This is due to slow adaption of broadband facilities that determinate access, and high cost
(The marketing Donut, 2013)
The report above, comments on trends and issues that are likely to impact upon the UK conference and meetings market. The report draws on information collected from the industry experts to ascertain their opinion on the trends and issues that may influence the UK conference and meetings industry over the next five years. Competitive forces are also identified relating to specific regions and countries, new technology and other areas for competition. The research findings reported here are from a survey of UK experts that began in November 2000 and ended in June 2001. The research used the ‘Delphi’ technique, which sought the opinion of industry experts and aimed to ascertain a consensus or agreement of views. Experts included in the sample were drawn from a range of organisations in the conference and meetings market, which include:
- destination marketing companies
- conference/convention bureaux
- industry associations leading academies
- conference venues
- tourism associations
The table above states the impact technology has to a business. The statistics show that although technology is beneficial such as conferencing via devices such as face time, it does not benefit sales as the business promotes professionalism and customers prefer to talk face to face. However, the research states the interest customers have to save time via using technology such as booking events online helps promote easy access to information and availability for customers via using bookings on the companies website.
The table above states the impact the social environment has to a business. The statistics state a growth in international travel due to individuals attending events a vast distance away therefore increasing profit within the events industry via customers using public transport will increase the profit within this sector.
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The table above states the impact the government has to a business. The statistics indicate if a business is affected by the government such as a government funded facility which is open to the public may hold restrictions on opening times and how much the business has to pay the government back. The statistics state that the government taxes effect a business such as increase in tax for petrol may draw customers away from a business if they have to travel a vast distance to the venue.
The table above states the impact technology makes to a business. The statistics show that although technology is beneficial such as conferencing via devices such as face time, it does not benefit sales as the business promotes professionalism and customers prefer to talk face to face. However, the research states the interest customers have to save time via using technology such as booking events online helps promote easy access to information and availability for customers via using bookings on the companies website.
The table above states that the European Union countries, Eastern Europe, The Middle East, Asia, the USA and Australia are all considered as destinations that could win trade from the UK. Each of these regions has different competitive threats although USA have the biggest impact on the UK conference market due to being the most developed country in the world with also the highest population stating more opportunities available for business to expand their companies (The marketing Donut, 2013)
The statistics indicate that although the use of technology can deem unprofessional such as face time, a vast number of customers prefer using technology such as booking online to make information, accessibility and attracting a wider range of customers to the business furthermore the impact on the government is crucial to a business due to tax increases may leave customers with less disposable income therefore the business will be effected due to the less income they will have. However, the government can fund a business if the business is within the public sector therefore helping business' expand their outreach to attract new customers. |