Introduction to event

Tangible: Assets that can touched or felt, like buildings, property, products, and 
packaging. 
Target Market: The desired potential customer audience. The best way to 
determine who is in your target market involves creating a ―customer profile‖ of a 
fake person who represents your ideal client. 
Value Proposition: What your client gets when they pay for your product or service. 
It usually includes the major advantage of choosing you over a competitor. 
Account: A chronological record of public funds showing receipts, disbursements, 
and the balance. 
Benchmark: A quantifiable performance level used to assess the extent to which 
program objectives are being obtained 
Budget: A plan of financial operation embodying an estimate of expenditures for a 
given period and the proposed means of financing them (revenue estimates). 
Budget Process: The process of translating planning and programming decisions 
into specific financial plans.

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Event Management HM-402 
Uttarakhand Open University 
61 
 
Cash Management: The process of managing monies for the event to ensure 
operating cash availability and safe investment of idle cash 
Goal: A long-range statement of broad direction, purpose, or intent, based on the 
needs of the event. 
Vision: An objective that lies outside the range of planning. It describes an 
organization‘s most desirable future state. 
Strategy: An approach to using resources within the constraints of the environment 
in order to achieve a set of goals. An organization formulates a strategy based on the 
environment, and states the goals, objectives, and how it is going to meet the 
objectives through tactics to guide its core business functions