Question

based on your understanding of the business model, describe a major challenge a prime event like carnival have with its business models? How do they go about finding a solution o this problem.

Answer 1

Answer:When prime event like carnival take place,there are numerous challenges can be occur irrespective of any business model.Some of them mentioned below:

1) Budget Limit:When budget of a big event is extravagant,it can be challenging to work with because any budget is not unlimited.There should be a cushion in financial planning.

2)Rising Costs:Rising Costs during the planning of the event can present a massive seemingly insurmountable challange especially if client neglected to include some cushion room in the budget.

3)Keeping track of planning of event:The saying goes:too many cook spoil the dish;and the truth it is very difficult to keep everybody in the know when there are so many finger in one(event) pie.

Solution of this problem lies on creating an effective event marketing strategy by taking some steps given below:

1)Early Bird Discount:Early bird discount works wonder by staggering your ticket sale to go up in price the closer to the event it gets.

2)Social Media:Getting on social media early is important to creating momentum for your event promotion.

3)Partner Outreach:Event marketing can be crucial to your event's success,so you need to start reaching out to potential collaborators,complementry brands and media partners early,before your event has officialy launch.

4)Paid Promotion:Whether its paid social media advertising or Google Adwords,now its time to put cash behind your campaign if you are going for it all.

5)Email:In the event industry pulse report,email was voted the single most effective tactic by event organisers,so it will be no doubt be central to your campaign and ticket sales too.