Identifying The Target Markets For The Industry Of Occasion Management
In order for you manage a sustainable business in the field of occasion or convention management and coordination you will need to know which markets you need to analyze and which markets are the right ones for you. There is a huge amount of opportunity in this field and every single day new types of functions keep coming up that has really shown us that there is no limit to the growth and development of this field. However, the target markets of the field can be in general, broken down into a few major segments and here they are.
The business market
This is the segment where you will be a corporate event planner and provide your services for businesses. However what you need to know is that just because the word business has been used, it does not mean that you will only need to offer services to multinational conglomerates. You will also need to work for charities as well as non profit organizations in this category. Things like gala fundraisers, competitions of different nature and receptions will be held every single years and some of them will be he attracting the big sharks of the field that they are in relevance to. Handling this market is tough, they mostly know what exactly they want and they will not have it any other way. You will be working with a lot of alpha personalities and you will need to keep your chin up.
The social markets
If you already have a wedding planning certification in Singapore, this segment of the market will be just great for you. It includes things like matrimonial ceremonies, birthdays, kid’s fun parties, themed parties and the likes. You will be able to get really creative and work on really friendly and personal terms with the people that you are offering your services to. It will also give you a lot more creative opportunity as opposed to the business market where things can tend to become a bit rigid. This market is one that is definitely expected to increase more in terms of its size and opportunity in the future because the trend for people to even throw random parties is now on the rise.
The niche markets
These will include some really exclusive and high end occasions like fashion shows and socialite parties and the likes. This is where and who and whom of the high rolling society will gather and your job will be a tad difficult because once again they will be really demanding. In terms of payments, you will have no problem but they will ask for their money’s worth.