Business Plan Essay
CTPL will offer event planning for corporations. CTPL will be specializing in training/ leadership retreats, team building skill retreats and product launch events. CTPL will begin making a profit after month 10, and will grow steadily each consecutive month. CTPL start-up costs will include all the necessary equipment needed for an office, legal fees, accounting fees, advertising fees, and website development fees. I Company name I I Mission retreat professionals with the ISLN co.
I To provide companies corporate highest level of event planning and to attract and maintain customers. 1 10bJectives ITO create a service-based company who’s #1 value is exceeding I customer’s expectations. I superior service. I To develop a sustainable, profitable start-up business. I MotiJheel, Dhaka I I Products I Corporate Retreat I Product Launch Service plan I I Location As in Bangladesh these types of event management like CTPL is no so expand, CTPL is planning to endow with its service most resourcefully. CTPL will offer event planning for the corporate market.
It will concentrate on two types of event planning: [pic] Corporate Retreats Corporate retreats allow opportunities to grow together as a company, provide team uilding activities and share unique experiences. These events are typically used for
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We incorporate your existing training curriculum, or current readings that you want to bring to life. Executive Retreats We work closely with you to define the goals of the executive retreat and prioritize the human context, identify areas where the discussion may veer off track and agree on strategies for handling explosive issues. Team Building Events New employee orientations, celebratory functions and seasonal gatherings all benefit from team building. Adventure Associates believes that some of the greatest insights into teamwork are discovered far away from computers, desks, and telephones.
Consulting From our first encounter with our clients, we are committed to truly listening to their oncerns, asking the right questions, and providing clear assessments and responses. They wil realize that we work side-by-side to move them toward achieving their goals. We will help our clients by: Developing leadership training series. Providing training their trainers in experiential team building. Creating interactive new-employee orientation training. Adapting existing training into experiential programs. Outsource all training and development for the development of the organization. Product launching: These are events where the corporation is releasing a product and they have an vent that is open to people outside of the corporation. The purpose of the product launch event is to create visibility for the new release. Product launch hospitality is a relatively new marketing strategy with expansive potential. Experiential event marketing has become a primary tactic, and markers are spending more on these immersive, emotionally powerful events than they are on broadcast network television.
A well-choreographed product launch hospitality event can build a company’s reputation and enhance your bottom line, but organizing a product launch can also become a challenging undertaking, demanding significant nvestments. Successful product launch event management doesn’t come easily. Organizing a product launch requires meticulous, minute-by-minute planning and detailed research and analytics to capitalize on opportunities and optimize results. Product launch event management experts must factor in audience diversity and win over highly contested consumer attention.
Further, they must deliver post-event measurement in the form of accountability, performance reporting and ROI. In short, successfully organizing a product launch demands much more than a core event idea; it should combine the art of planning with the science of measurement to uarantee optimal spend – and optimal benefits. Organizing a Product Launch for Optimal Performance Truly successful product launch event management engages leading edge tools to support tighter strategy and design and tangible business outcomes.
Through measurement and adaptation, customer’s product launch hospitality event can build on past successes and inform their product launch event management decisions into the future. Product launch hospitality expert will help client to achieve a 360-degree, three-dimensional perspective, so they can manage all participant touch points, get he data they need, make the right decisions, stay aligned with business objectives, and calibrate every element toward current and future success. Market analysis A market analysis studies the attractiveness and the dynamics of a special market within a special industry.
It is part of the industry analysis and this in turn of the global environmental analysis. Through all these analyses the chances, strengths, weaknesses and risks of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined. Future outlook and trends: Presently there are many event management companies in our country serving the companies in event management. But hardy any of them providing both the training and the event planning service simultaneously to the corporate.
Therefore our company in future will be able to capture this market by providing training/ leadership retreats, team building skill retreats and product launch events. Prospect for our future growth will be high in this business. Analysis of competitors: There are many event management companies in our country and the largest of which is MnM Event. None of the business simultaneously provides product launching as well as training services to the companies but we will provide both the services that will help the companies to be cost and effective.
Therefore their strength is infrastructure development but the weakness is they don’t provide those two different services. We should be very careful of providing the services because they can imitate our services. By building effective team and providing better there are three other companies that offer event planning specifically to corporations. They however, tend to do events that are more general in scope such as arties to reward customers or employees, or events to change the company image. There is no company that specializes in event planning of corporate training and product release events.
There are companies that offer corporate training, but these companies provide the actual training and do not do any of the actual event planning/ logistics of the entire event. There are companies that provide product- release services, but they do not specialize in it. Because event planning is a tight market, CTPL will benefit from their specialization in this area. In the past, the buying patterns for the larger corporations were in the past to have n in-house solution. This pattern is disappearing in favor of outsourcing as there is the constant drive for gains in efficiency, something outsourcing can offer.
Market segmentation CTPL is providing services to corporate customers only. We will not be going after the “social market” which is an alternative market within the event planning niche. The corporate customer is a company that contracts with CTPL to plan and typically host an event for the company. Corporations will be turning to CTPL to plan the events because: It is cost efficient for a third party to plan the event. This is the case because the third party only does event planning so they can plan and host the event more efficiently.
The company does not have additional people that can be taken away from their daily Job and invest time in this infrequent event. Our event planning services for corporate retreats will typically be utilized by larger corporations. A larger company can be generally defined as one with more than 40 employees. Smaller companies sometimes will utilize this service of ours; however, it is the larger corporations that typically have the budget for this activity. For our product launch event planning, we will be servicing companies of all different sizes.
Typically the companies that use this service will be product based companies, but we will also offer these service to service-based companies who desire to announce a new service that they are offering. Target Market Segment Strategy CTPL is targeting large companies for our corporate retreat event planning. The large corporations typically have the budget and the foresight to recognize the value in corporate retreat as a training session for their employees. The training is typically in leadership development or teaming skills.
While they do have these retreats at different intervals through the year, it is more cost effective for them to hire a service such as CTPL to plan the events when needed instead of paying the carrying costs of having a full-time, trained employee ready to do the planning when it is needed. CTPL’s product release planning services will be targeted at all different size companies. Companies of all sizes have product release and it is unusual for them to have product release many times a year requiring someone to be a full-time planner on staff.
Therefore, it makes sense for them to hire an outside service to plan the vent using their expertise in event planning to drive down the costs of production and hosting. Strategy and Implementation Summary CTPL will be aggressively courting companies to win over future contracts. It will offer a superior service at a lower cost due to specialization. By concentrating on a few specific services, CTPL will become proficient at these services. CTPL will increase company visibility through a website, local Chamber of Commerce networking, and participation in trade shows.
Our website will be quite detailed and provide a visitor in-depth information about the services CTPL offers, the orresponding high level of quality, and the cost savings that can be achieved through our firm. CTPL will also be quite active in the Dhaka Chamber and commerce that will help realize a lot of business transacts. Lastly, CTPL will be active in the many trade shows . The use of trade shows allows members of CTPL to be introduced to a wide range of businesses that otherwise would be difficult to establish an initial relationship with.