Corporate Hospitality Event Planning

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Table of Contents

Introduction
Motivation
Creative Concept
Hospitality Gifts
Conclusion
References

Introduction

In the modern world, customers pay attention not only to the quality of services and services offered by companies, but also to their interaction with the audience. At the moment, a significant part of the competitive advantage of organizations in the market depends on the nature of their communication and relationships with customers. Corporate hospitality events are an effective relational marketing tool, which allows businesses to build long-lasting relationships with customers and suppliers. It is also important that such events allow companies to establish contacts with potential customers and improve the brand image. This proposal describes the importance of corporate hospitality events for organizations and proposes an event concept for FHA Food & Beverage 2022.

Motivation

The motivation for corporate hospitality events by companies is the opportunity to demonstrate their focus on customer relations in order to increase customer loyalty. Through such events, an organization can demonstrate its special attention to existing customers in order to create a more positive attitude towards its products and services. Additionally, it can acquire new contacts of potential customers or suppliers, which is also important for the success of the company. It is significant that corporate hospitality events allow you to show the best competencies of the organization, present talented employees and promote products. Most importantly, however, these events strengthen the bond between customers and the company, increasing brand awareness, improving the brand image, and positively leading to additional competitive advantage.

In the modern business environment, competition is actively growing, which requires organizations to implement new, more effective marketing strategies. Relational marketing, which has gained popularity since the 1980s, describes techniques for achieving high customer retention (Durmaz et al., 2020; Salem, 2021). Relational marketing is “a strategy that focuses on developing and maintaining good relationships with existing customers, rather than finding new customers, as opposed to traditional marketing” (Durmaz et al., 2020, p. 1). Payne and Frow (2017) note that relational marketing allows companies to achieve success in the market through the creation of long-term relationships with customers. Thus, this modern approach to marketing is based on the need to create and maintain customer loyalty in a highly competitive environment.

The concept of relational marketing is based on the idea that the customer is the most important part of the business. Minta and Traore (2018) state that “customers are at the foundation of business vision and their satisfaction is the main factor to a gain a competitive advantage” (p. 73106). Relational marketing helps organizations in creating and maintaining a positive customer attitude towards the company. In turn, the interaction between the customer and the company based on trust, conflict handling, and customer commitmnet becomes the basis of the company’s marketing strategies (Kang & Kim, 2017). The successful activity of the company in the application of relational marketing is associated with the use of a wide range of rewards and benefits, which are aimed at strengthening customer engagement and loyalty.

As part of relational marketing and maintaining a high level of customer retention, corporate hospitality events occupy a special position (Bodey et al., 2018). As part of these events, companies invite their most valuable customers and stakeholders to participate in free entertainment events hosted by the organization (Getz & Page, 2019). The main purpose of these events is to show appreciation to existing customers in order to deepen relationships or create connections with potential customers. Crowther (2011) describes such events as a physical, planned gathering of representatives of an organization with “existing and future customers, clients, and wider stakeholders” (p. 68). Corporate hospitality events usually last one day and can be spectator sports, participatory events, cultural events, and others (Mintel, 2008). Thus, corporate hospitability events involve not only top entertainment, comfort and service, but also activities aimed at interaction and communication.

These events help companies to achieve a number of important goals, which is the motivation for their organization. First of all, coprorate hospitality events offer a less formal setting, making communication and interaction easier. As part of the activities offered at the event, company representatives can also improve relationships with existing customers and acquire new ones. This is a great chance to make a good impression by demonstrating the highest standards of customer relations (Bennett, 2003). Walzel (2014), which is also supported by Al Abdulrazak and Gbadamosi (2017), Agyei et al., 2020, and Iglesias et al. (2020), offers three types of benefits that corporate hospitality events provide, including wider brand awareness, better brand image, and brand-switching. Together, these factors allow the company to expand its customer base, acquire new contacts, and improve its position in a competitive environment. The basis for obtaining benefits from corporate hospitality events is the possibility of two-way information exchange between guests and company representatives (Amoako et al., 2019; Yao et al., 2019). Thus, these activities are one of the most effective methods for improving customer relationships and maintaining a competitive advantage.

Creative Concept

The concept proposed for the company is prosucts presentation and tasting. The concept of the event can be implemented as part of FHA Food & Beverage 2022. When choosing activities within a corporate hospitality event for successful relational marketing, one needs to make sure that they correspond to the company’s brand. Additionally, it is necessary to take into account the target audience of the organization through the consideration of the largest groups of customers in order to determine the appropriate event. Thus, to design the concept of the event within FHA Food & Beverage 2022, it is important to note the key characteristics of the gathering and its visitors. In order to develop and implement the concept, it is necessary first of all to consider such points as objectives, guests, and hosts.

In terms of objectives, the priorities for FHA Food & Beverage 2022 are:

Presentation of services and products of companies, increasing customer awareness;
Personalized two-way communication with guests;
Identification and attraction of potential customers and suppliers;
Building and improving relationships with clients;
Brand image improvement;
Obtaining valuable information about the market from the guests of the event.

The choice of guests is also a significant step in developing the concept of an event, as it is necessary to ensure that the right clients and company representatives are present. Additionally, it is important to maintain the ratio of guests to representatives to ensure the most effective communication. The choice of guests should be based on the specific benefits that each of them can bring to the company. With regard to guests, the following points must be observed:

Invited guests should have decision-making power;
For each guest, at least one meaningful outcome of the event must be set. This may be the purpose of subsequent communication, getting to know significant colleagues of the guest, or obtaining certain information.

It is especially important to choose hosts carefully, from those responsible for welcoming guests to key representatives. In this situation, the company must make sure that its members involved in the event have a sufficient level of competence, as well as respect among the guests. It is also critical to consider the need for individual communication with the most important guests, which requires the presence of senior employees who could represent the face of the company.

On the basis of the considered points, it is justified to choose an event concept of the presentation and tasting of the company’s products. First of all, this concept will allow guests to get acquainted with the products and services of the company through direct interaction with them. During the event, company representatives can also provide communication with guests, talking about the main characteristics of the products and leading a more informal conversation. The tasting will allow guests to participate in product discussions with both other visitors and hosts. During the event, representatives can also communicate with potential suppliers and customers. This concept is also the most appropriate because it allows you to use a limited amount of resources with maximum benefits. Thus, the presentation and tasting of the company’s products is the most effective event concept for implementation.

Hospitality Gifts

As part of corporate hospitality events, ethical issues may arise, in particular those related to gifts. Hospitality gifts involve providing guests with symbolic gifts to demonstrate the value of the relationship between the company and customers. The proposed concept involves tasting the company’s products, which in itself involves interaction with material resources. However, gifts should have a symbolic meaning and the possibility of a long-term reminder to the guest about attending the event and relation to the company. In this situation, gifts within the framework of the event would be appropriate, but they should not be of material value, but carry a symbolic meaning.

Since the event involves the presentation of food and drinks, a possible gift for guests in this case may be a modest set of dishes or cutlery. This gift as part of a business event is appropriate, as it primarily carries utility and symbolism. Guests will be able to associate these items with visiting the exhibition and the company’s products. At the same time, they should not become the main focus of guests’ attention, so as not to distract them from the subjects of the presentation. Thus, the gifts offered should be simple and inexpensive, to act as an additional reward for attending the event, and not become its purpose.

Conclusion

Corporate hospitality events allow companies to establish and maintain relationships with clients, building their loyalty, which is the basis of competitive advantage in today’s business environment. As part of this proposal, it is recommended for FHA Food & Beverage 2022 to implement the concept of product presentation and tasting. Particular attention should be paid to the composition of the guests in accordance with the outcomes, as well as the choice of company representatives at the event. This event concept will allow the company to achieve all the main objectives by effectively communicating with the guests and establishing the necessary contacts. It is also important that the event will provide the company with access to guests with decision-making power in various fields, which will potentially open up new business opportunities. Most significantly, this event will help develop the brand image and build customer loyalty, which is an integral part of an organization’s competitive advantage.

References

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