Events Organization
There are many different forms of fundraising and many strategies that can be implemented for the future growth and developments of an event organization. Event managers must be knowledgeable of these strategies before they begin to plan a fundraising event. The strategy must coordinate with the fundraising event. Fundraising strategies identify financial expectations, outline activities, reveal time constraints and needed resources to meet financial goals. In order to have the best results in meeting the financial goal and adding the eventual growth and success of the organization it is best to implement multiple strategies during a fundraising event. If the goal is to raise funds to maintain the business it is possible to obtain funds by applying for a loan or by selling shares in the business. If the goal is to obtain finance for a particular event then corporate sponsorship is an option. This would give the event manager cash, goods or services in exchange for corporate advertising. All of these options for raising funds would help the business in future growth.
A specific example of fundraising in events management is that of a golf tournament. This type of fundraising event is usually held to raise funds for a certain cause most often to procure funding for finding a cure. During a golf tournament there are many ways to raise funds. This can range from the entry fee to corporate sponsorship, program guide advertising, or betting. This particular form of fundraising provides entertainment to the public while at the same time raising funds for a specific cause.
It is important to price services and goods correctly during festival fundraiser. People’s perception of the value of an object or service would hamper their willingness to buy the goods and services if they feel that the items are priced erroneously. There are several pricing strategies that can be used: premium pricing, promotional pricing, psychological pricing and price skimming. All of these
A specific example of fundraising in events management is that of a golf tournament. This type of fundraising event is usually held to raise funds for a certain cause most often to procure funding for finding a cure. During a golf tournament there are many ways to raise funds. This can range from the entry fee to corporate sponsorship, program guide advertising, or betting. This particular form of fundraising provides entertainment to the public while at the same time raising funds for a specific cause.
It is important to price services and goods correctly during festival fundraiser. People’s perception of the value of an object or service would hamper their willingness to buy the goods and services if they feel that the items are priced erroneously. There are several pricing strategies that can be used: premium pricing, promotional pricing, psychological pricing and price skimming. All of these