who are our key competitors?

-Eventos Integrados SAS

-RedLine Eventos

-T310 Absent Papa

-Sphera Impacta

-Eventos Bogota

 

what are the major competitors' strenghts?

- They have experience in the industry. For the case of RedLine Eventos (7), T310; Absent Papa (10); Evento Capital (7) and Sphera Impacta (15) they are enterprises that have around a decade of experience in the business of organizing events.

 

-They have won awards and recognitions. Sphera Impacta has won FIP awards in recognition of the dedication to their work. (The FIP <Festival Iberoamericano de Promociones y Eventos> is a contest on New Marketing Tools, which analyzes and rewards the best ideas from Latin America.) They have won in total 30 awards since 2006.

 

-They have faithful clients. As for Eventos Integrados and Sphera Impacta, they have chain enterprises as their clients.  For example, EVENTOS INTEGRADOS has BBVA, General Electric, DHL, and more. This are faithful clients that choose in the majority of times Eventos Integrados as their events planner.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

what are the major competitors' weaknesses?

 

1. Lack of coordination and communication between those who plan the event or are in contact with the client and those who arrange time event.

2. Time management

3. Resources usage

4. Accurate strategic alliances

 

what are the major competitors' objectives and strategies? 

1. Eventos Integrados objective is to be consolidated in the market of Enterprises and Social care in all matters relating conventions, seminars, product launches, meetings, theme parties, special recreation, BTL Agency and brand positioning.

To achieve this objective they structured a variety of services including: country places or within the city, logistics, food, beverage, entertainment, decoration and everything clients might need within the highest standards of service quality ensuring success of any event. Supported and backed by a great and talented team who daily surrender their best to meet the demands of each of their customers.

 

2. RedLine events’ objective is to achieve through their values, to position themselves as the best enterprise of production and innovation of events, satisfying the needs of their clients and keeping a quality in each presentation.

 

3. Eventos Capital’s objective is to promote the development of professional events for social and commercial benefit and to be able to provide a service to society interested in organizing social, business, family events through their website: www.eventocapital.com which is the most important contact with their clients. Therefore, they are constantly adding more information to help their work and also benefit society.

 

4. Eventos Bogota’s vision is to establish Events Bogotá as one of the most prestigious and participative institutions in society, known for its reliability, excellent service and with the encouragement to contribute to the interests and benefits of concerned parties; integrating values ​​and disposition in order to strengthen purposes.

 

 

 

How vulnerable are the major competitors to our alternative company strategies?

Since this is a service company, part of our alternative strategies is to make sure that our team and employees are passionate about the event to be planned. Our goal is to have a personal 100% trained and motivated.

Also, our aim is to be the most conscious we can be about the environment. We want to implement campaigns along the events to preserve our natural environment and reduce the use of those instruments that affect it. We want to be socially conscious as well and make sure we are not intervining with the community that is around an event.

Most of our key competitors do not have the protection and prevention of the environment as an important factor to consider, therefore this is a vulnerability related to Smart Ideas CO.

 

 

How vulnerable are our alternative strategies to successful counterattack by our major competitors?

 

Environment prevention may be a factor that clients would not consider that much when deciding what firm to choose for their events.

 

To what extend are new firms entering and old firms leaving this industry?

Bogota is leader in statistics of new firms in Colombia: Bogotá is the Colombian city where more companies are created each year, with about 54,000 companies formed between 2012 and 2013, and exceeds the rate of entrepreneurial intention to countries like Ecuador or Brazil. The greatest growth is seen in the service industry: new businesses in commerce, telecommunications, information technology, and professional services.

However, statistics indicate that, on average, 80% of them fail within five years while 90% does not make it to 10 years. During 2008 it was seen that 16,909 companies closed.

In Bogotá, the liquidation of companies is concentrated in three sectors: 85 percent in services; 11 percent in industry and 3 percent in construction. In services, companies dedicated to trade highlighted liquidation; but also hotels and restaurants, real estate, renting and business activities, and transport and storage services.

A/ These are good and bad news for Smart Ideas CO. In one hand, the service industry is growing fast. Now there are even more students majoring in Marketing, Institutional services and Logistics which will bring more competence if they decide to open a firm that involves event organization. However, it can also mean well skilled, young and fresh employees for our business if we decide to hire newly graduates. Even though there is not information exact about event organizing companies, service companies in general are also the ones that are liquidating the most. This means, we have to be especially careful with bad management because this is linked to why most firms liquidate.

 

How have the sales and profit rankings of major competitors in the industry changed over recent years? Why have these rankings changed that way?

Profit and sales for competitors have increased majorly over recent years. Massive events are getting more common in Bogota. For example, concerts and artists coming to Colombia is becoming something very usual. With this kind of events, there is a need to have more suppliers for installations and organization, but only one firm is in charge of gathering it.

The market is getting very competitive since you have to be also internationally recognized.

 

What is the nature of supplier and distributor relationships in this industry?

Suppliers are any firms that would help our enterprise please the clients’ needs and desires. The most important suppliers would offer products and services such as:

* meals and snacks

* artists and spectacles

* audio and lights

*special installations (bathrooms, energy, gas)

*assemblage utensils (carpets, stands)

Distributers would have a transportation nature. Since most of the products offered mentioned before need to be mobilized, we need distributers that can carry them where the event is arranged to be.