What are the advantages and disadvantages of self-produced and third-party events?

What will be an ideal response?


Self-produced events are events a firm conceives and coordinates, while third-party events are put on by an external organization that invites firms to partner with them. Self-produced events have the distinct advantage of being tailored to the firm's products, customers, and overall mission. They do, however, consume a considerable amount of the firm's time and money. Conversely, third-party events can be less of a drain on a firm's resources since another organization has the role of event manager. The downside is that multiple firms typically participate in third-party events and they end up competing for the attention of the event's participants. In addition, the purpose of the event is less likely to align with the marketing goals of any specific firm.

Business

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