Event: Product Launch
Product: The product is a newly developed washing powder that boasts exceptional features and a highly competitive edge over similar brands, both domestic and international. The product is said to have some additional features that enhance the process of removing dirt from the clothes and the ability to retain a good scent even after long hours of wash.
Brand Name: Igma.
Company: Cleanser Laboratories. Ltd., is a firm that has been in the field for the last 10 years by producing and marketing washing and toilet soaps. Igma is a newly developed washing powder after long days of research by the research team of Cleanser Laboratories Ltd.
Date of Launch: The day of the event should be such that none of their special guests should have any other engagements. It can be ensured by contacting those whom the company would like to invite for the event and asking them about their availability. But, it is quite impossible to get everybody on a certain day and prime concern should be given to the company’s objectives in such circumstances. (Daoust 2006).
Venue: A renowned Hotel in the country, which should have a catering wing of its own, vast parking facility and enough number of executive rooms and in close proximity to an airport. (Parker 2006).
Method of Product Launch
The method selected for making things happen as the company intends is ‘Convention’. This seems to be the ideal method for the company to launch its product. This is suggested because the company is not restricted by any kind of financial constraints and it needs to attract a large number of people from different parts of the country. This is the reason why a renowned hotel is selected as the venue of the convention. Moreover, the company has a plan to turn the event into a memorable one among the audience. This is intended in the anticipation of getting wide publicity across the country because the company believes strongly in the word-of-mouth method of marketing. The company intends to conduct the convention in an interactive manner so that any queries about the company and the new product’s features can be communicated to the audience in an effective manner. This will also enable the company in the future to modify their product in line with the expectations of customers or any of their suggestions that may come forth in the convection.
Objectives of the event
The fundamental objective of product launch is closely associated with the company’s long-term goals. The introduction of a new product in the market itself is a reflection of the firm’s intention of drawing new customers who are presently using similar washing powders and making them use the new product. Already the company enjoys very good customer support and loyalty for its washing and toilet soaps and with the new washing powder, Igma, it is aiming to retain the existing customer and attract new ones. However, the following are the specific objectives behind the grand convention, through which the product is intended to be launched:
- To enhance the popularity of the company’s brand
- To retain existing and attracting new customers
- To interact with existing and potential customers and other audiences on queries relating to the company as well as its products
- To received and use the feedback from the audience to further improve the qualities of the product
- To use the audience as a medium of communication to talk about the company and its products
- To create an awareness across the industry and among the public about the company’s large customer base
Time duration
The entire process of product launch, interaction, food, and entertainment is proposed to be concluded in 3 hours. Nobody is ready to sit and show patience for more than 3 hours for a formal corporate event. (Yuan 2006).
Food and Beverages
All arrangements have been made in the hotel’s catering segment for food and beverages. The food shall be served on a buffet model to avoid wastage, save time, and give preference for everyone’s taste. Special consideration has been paid to dietary needs and plenty of choices have been provided in the menu. Alcoholic drinks shall also be served on a need-to-serve basis to make everyone happy with the event. All these matters have been discussed with the catering wing of the hotel to make it a grand and memorable success.
Target Audience
As specified in the objectives, one of the aims of the event is to use it as a means of communication through the audience. Naturally, the larger the audience, the greater will be the impact upon the marketing efforts the company deploys. The target audience should comprise of different groups from varied walks of life. The intention is to make the diverse group become aware of the product and to ensure that they will communicate themselves to a larger audience ultimately. The List of people from different fields has been prepared and it comprises celebrities including movie stars, sportspersons, business tycoons, popular politicians, social activists, successful dealers across the country, and the most important group, the public. The invitation cards to the target audience have been prepared and these are being sent to the personal/ business address of the invitees.
Communication
Apart from sending an invitation to the target audience, the information about the product launch must be disseminated to the whole world. Since the product is a consumer product, some selective tools can be used for communication. The desired tools are:
- Dailies
- Popular Television channels
- Notices through dealers of existing products
- Internet
- Hoardings at important places
Budget
Finance, as is generally accepted, is definitely the lifeblood of any activity. Finance is needed right from planning the event to its conclusion. The budget for the whole event is framed in consultation with the company’s Finance Manager after going through the likely expenses. Air tickets for the dignitaries, cost of gifts and mementos, and cost of media, etc, should also be taken into account. The budget should not be a fixed, but flexible one so that any possible increase in expenses can also be met out of the allocated funds. The finance matters should be dealt with by a person with a good track record of service.
Logistics Planning
The arrangement is made to ensure and check about liability or safety issues that may impact the event. It is necessary to allocate the duties of risk management to a specially trained group of people. If these factors are taken into consideration and necessary action taken, nothing will disrupt the smooth flow of the event.
Resources planning
Once the activities to be conducted are planned, the next step is to arrange human and other resources to convert those plans into action. Specify the tasks to be executed by each group/ person and explain it to each make it clear that penalty will entail for non-execution in time. The human resource skill and potential should be checked well in advance so as to avoid slow and illogical execution. All materials such as chairs, tables, and decorations should be purchased and checked in time. The media should be approached for effectively covering the event and broadcasting the same.
On-site registration
Arrangements need to be made to get the names of the persons and their representing organizations. The moment the invitees enter the room, their identity should be collected and recorded for future reference. The record maintained for this purpose can be used on similar occasions in the future.
Product Launch Technology
The event should be conducted in an ambiance with attractive light and appealing music. It should have such an impact that it will be remembered by the audience and it also needs to be the first of its kind in product launching history. The features must be explained with clarity to the audience.
Circulate feedback forms
Immediately after the product launch and its explanations, the feedback forms need to be circulated among the audience to collect as much information as possible. The design of questions should be made with the help of experts in the field. Also, the language should be impressive. Informal languages are advisable in such contexts to avoid difficulty to the audience in answering questions.
Evaluation
Evaluation of activities is meant to ensure that everything is going in line with the objectives and plans. This is tied to the aims and targets for the event and helps to measure return on investment and return on objectives. It is an ongoing process and does not end with the evaluation of one activity. As the activities continue to happen, so is the evaluation. Both negatives and positives are taken care of at the time of evaluation to make the data useful for the future. (Event Evaluation. 2008).
Control
Controlling is the process of measuring the deviations of actual performance from planned performance. It is possible by comparing the actual and planned performance. If any deviations are found, the reasons for the same shall be ascertained and remedial actions are prescribed. Controlling should not be restricted to activities alone. Rather, it must be extended to other areas such as finance. Controlling helps the event managers substantially in the future when similar events are undertaken.
Bibliography
DAOUST, Bette. (2006). You Are Invited. [online]. Best Management Articles.com. 2008. Web.
Event Evaluation. (2008). [online]. Web.
PARKER, Shaun. (2006). Perfect Venue: The Key to a Successful Event. [online]. Web.
YUAN, Cheow Yu. (2006). How to Plan a Successful Corporate Event. [online]. Web.