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Corporate Hospitality and Events

Corporate Hospitality and Events. Corporate Hospitality. Opportunities whereby the company can make face-to-face contact with selected publics in a prestigious context thereby strengthening and personalising relationships with decision-makers , trade channels and business associates

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Corporate Hospitality and Events

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  1. Corporate Hospitality and Events

  2. Corporate Hospitality Opportunities whereby the company can make face-to-face contact with selected publics in a prestigious context thereby strengthening and personalising relationships with decision-makers, trade channels and business associates Meenaghan, T (1983)

  3. Creating goodwill in an informal context Pelsmacker (2000) A key tool in maximising the potential of sponsorship Increasingly important as the cost of customer acquisition has soared A vital role in developing..customer and employee relations (Kolah 2004)

  4. The changing role (Mintel 2002) • Integrated more closely with company communications strategies • Part of Customer Relationship Management • to establish and maintain individualised relationships..to encourage loyalty and retention • in conjunction with regular personal communication in other formats

  5. Company Objectives 16% 27% Marketing Communications Sales Event Networking & intelligence Relationships and rewards 12% 82% Derived from NOP/Sodexho 2000

  6. ‘The future is measured’ • Subject to the usual disciplines of marketing • targeting, measurement and justification • informal impressionistic evaluation of relationships • only 49% measured increased sales • only 24% used MR or evaluation forms • Match clients to events • smaller numbers, more personal attention • Centralised purchasing • better service and prices

  7. Segmentation and growth £m

  8. Participatory eventsteam building, sports, simulations etc 40% growth, 27% market share • a change from Ascot or Wimbledon • more places available and cheaper • from £35 a head compared to £2,000 • less exclusive, wider market • customised, proactive, evolving • from hospitality to experience

  9. All our incentives are custom-made. At the race you and your guests stay at the same hotels as the drivers or relax aboard a luxury yacht..GP Incentives offer exclusive access to the pits and paddock. Instead of being a visitor, you become part of the Formula 1 circus!

  10. The supply side Companies: Pharmaceuticals IT & telecoms Financial City Law firms Venues Caterers Event organisers Brokers/ agents Activity operators Suppliers Corporate Events Association

  11. Trends • ‘Disappointment, mistrust and bad feelings from use of unscrupulous suppliers’ CHEA • Vertical integration • Sodexho, Compass • Economic environment uncertainty • Diversification of events and target sectors • Poor public perception

  12. The ethics of corporate hospitality • ‘far less serious than actual bribery but arguably on the same continuum’ Fill (1999 p 63) • Corruption..to include hospitality that could be shown to have led to the award of a contract. Law Commission report 1998 • In contrast entertaining ..to pass on information, talk business or cement relationships is legitimate

  13. Meenaghan T (1983) Commercial Sponsorship European Journal of Marketing 7, 2-73 • Fill, C (1999) Marketing Communications Prentice Hall • Mintel (2002) Corporate Hospitality and Events • Corporate Hospitality and Events Association website • De Pelsmacker et al (2000) Marketing Communications • Kolah, A (2004) Maximising the value of hospitality Sportbusiness

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