Discuss the feasibility assessment parameters / domains of an event.
To assess feasibility, there may be a brainstorming session where the entire event team meets and discusses various ideas. This has to be done systematically. In regard to the feasibility of major events, intensive methods such as SWOT or cost-benefit analysis etc. are used. Areas or domains covered in the feasibility study vary according to the aim and focus of the event. For example a ‘Product Launch Event’ whose primary objective is to increase the profit of a company with a new product is purely economically driven. Such an event would require rigorous financial analysis to assure that the primary objective is met by the event. However, it is important to recognize the varied nature of events. There may be many acceptable ideas or none may be found feasible. The organizers will finally have to make a choice about what to do.
Keeping in mind the varied nature of events, the domains or parameters which could be assessed are the following:
Marketing Feasibility - The basic objective of marketing feasibility is to see if the various ideas will work in the target ____ _____ _________ _______ __________ ____ _____.
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