Tag: Osmania University B.com Notes

The recent growth in Events as an industry around the world means that the management of events can no longer be ad hoc. The industry now includes events of all sizes from the Olympic down to arranging breakfast meeting for ten business people. Business event management is the practice of incorporating business logic into labeling events, communicating events and handling events. As such, business event management requires a profound interaction and cooperation among business stakeholders as well as the event management in order to meet out the prioritized needs of the stakeholders. Because of the difference between the perspectives of the individuals involved, insignificant events/perspectives can result in significant or serious potentials for business loss, damage to reputation or customer relationships or impacts on productivity and earnings have a profound impact on the bottom-line.

Management of an event encompasses all activities involved in planning, organizing, leading, staffing and evaluation of an event. Thus, it involves groundwork associated with events, i.e.,

• Venue selection
• Stage design
• Infrastructural facilities
• Liason with artists/performers
• Logistics plan etc.

Event management is considered as one of the strategic marketing and communication tools by companies of all sizes. From product launches to press conferences, companies create promotional events to help them communicate with clients and potential clients. They might target their audience by using the news media, hoping to generate media coverage which will reach thousands or millions of people. They can also invite their audience to their events and reach out to them at the event.

Unlike planning for public events, after the initial concept or idea for an event has germinated, its feasibility is evaluated and then the activities are substantiated by actions. Event management is the application of the management practice of project management to the creation and development of events. It involves the following:

• Identifying target audience
• Feasibility studies
• Planning
• Co-ordination
• Executing the modalities of the proposed event

Event management requires strong organizational, budgeting and creative skills. Those who work as event managers must be comfortable with interacting with all levels of individuals inside and outside of their organization. Event management is the process beyond planning, executing and evaluating corporate, associations, non-profit organizations, government and social events.

Event Planning Staff

Nobody has unlimited time in the day, and a corporate event planner cannot be in two places at the same time. Having support staff available is essential for a successful event. Remember that when assigning the following tasks, it is your responsibility to work with team members to create individual project deadlines so that you can manage the timeline and optimally use your available resources. These team members are responsible for tasks such as:

• Ensuring presentation technology is functioning
• Working with venue staff to provide food and other amenities
• Registering event participants
• Coordinating lodging and transportation for participants and presenters
• Preparing information packets and setup/takedown of the event materials

Attendees

You can’t have a successful corporate event without participants. The more engaged they are before, during, and after the event, the higher the chance of success for all involved stakeholders. Bear this in mind as you plan the agenda and schedule learning events. Incorporate a variety of sessions to keep people engaged and consider one or more experiential events. Start engaging attendees in the days and weeks before the event to generate excitement and maintain the momentum you’ve built by investing time into planning a reinforcement and measurement strategy for after the event concludes.

Corporate event planning is no small task. Even a single-day company event can take months of careful planning and a tight-knit team to successfully execute. Form your team early to ensure faster decision-making and greater buy-in from all the key stakeholders throughout the process.

Stages in Event Management

Determine Event Objectives

This stage sets the groundwork for the entire event and is typically directed by senior leadership. If the annual gala goals for this year are vague, work together to create key objectives to ensure your donors and attendees feel engaged as a result of the event.

• Create/define event objectives
• Select your audience
• Determine your budget
• Assemble your event team

Choose Event Partners

Some events can be created, directed, and executed entirely with your in-house staff. Other events will require venue management, stage directors, catering staff, publicity coordination, and more.

• Select necessary partners to augment your event team
• Choose an appropriate venue
• Set a date
• Design the overall experience
• Create a communication plan; invitations, programs, media relations, etc.

Create Event Content

While the logistics of event planning are important for obvious reasons, the content of the event is critical for creating a meaningful experience rather than “just another event.” Revisit your defined event objectives and work with your internal staff and chosen event partners to create truly inspiring content that speaks to the audience while helping meet the event objectives.

• Confirm key performers; musicians, speakers, VIPs
• Create video elements to enhance the content, considering what you might want to use for post-event material
• Implement a communication plan or plans
• Finalize all event details

Execute the Event

Host an amazing and engaging event that connects, inspires, and energizes donors. With the right partners and with so much work done ahead of time you can relax a bit and ensure your audience is enjoying the event.

• Greet the guests as they arrive
• Monitor the venue; room temperature, beverages, any safety concerns
• Assess the audience; interest, engagement, enjoyment

Develop Post-Event Materials

Many events end as soon as they are over, but it doesn’t have to be that way. Well-designed roadshow tools can help the meaningful experience live beyond the event itself. Determine the most effective way for your team to maximize the resources and materials you’ve created for the event.

• Excerpt of event video for guests who couldn’t attend
• Roadshow video for small group presentations
• Personalized impact stories for website

Decision-Makers

Depending on the scope of the event and the size of the organization, there will most likely be one or more executives involved in laying the groundwork. It is important to understand what their thoughts are on the business goals associated with the event, the budget, the agenda, and so on. Some of the responsibilities that executive decision-makers have during planning are:

• Determining the overall budget for the event
• Determining the business objectives, theme, and tone of the event
• Vetting the speakers and activities
• Approving major expenditures
• Participating in development of the agenda
• Making crucial decisions throughout the planning process
• Not only participating in and championing the event itself but also the activities pre and post to set the tone

Organization’s environment to determine whether important assets are in the state they should be, and knowing when that state changes, is a very important activity that many organizations spend significant portions of their budget doing.

Event management, while useful, can be dangerous if not done appropriately. In the “ITIL Service Operation” book several policies are given to guide an event management process. In this post I will discuss the importance of those policies.

Event Notifications Should be Sent Only to Those Responsible for Action

Events that are sent to people who are unable to, or do not need to take action are somewhat worthless. Event management is a process that helps a service provider understand changes in state throughout their IT environment. The only people who need to be aware of those changes in state are those who are responsible for some kind of action related to that change in state.

Event Management and Support Should be Centralized as Much as Possible

In my experience I have seen that smaller organizations, and organizations up to a certain size, are able to effectively conduct event management in a decentralized way. However, as the organization grows, so does the need for event management. This growth typically drives a growth in monitoring tools, with different groups monitoring things different ways. Ultimately what happens is through monitoring the organization accidentally does a denial of service attack against itself. Additionally, centralized event management means that the organization is more clearly able to define accountability and responsibility for the handling of specific event. Furthermore, decentralized event management, as mentioned earlier, leads to a proliferation of tools, which tends to mean the organization is investing in multiple tools that do the same things, with none of them being fully utilized.

Events Should Utilize a Common Set of Messaging and Logging Standards

An organization doesn’t have to become very large before the body of events becomes overwhelming. When those events all have different formats and structures and say different things (or the same things in different ways), it can be very difficult to effectively filter, correlate and take action on the body of events an organization faces.

Event Handling Should be Automated When Possible

Effective automation tends to speed up the handling of events, whereas if an event management process relies exclusively on humans to respond to events, the wealth of events will quickly overwhelm human processing power, resulting in events being missed or their handling being delayed.

Events Should have Standard Classification Schemes and Escalation Procedures

In other words, a service provider should know what to do with the events that it generates. Not only is it pointless to send an event to someone who is unable to take action on it, it is equally foolish to send an event to an operational team without effective instructions for how to handle that event. This results in events being ignored, which ultimately results in important events being missed.

All Recognized Events Should be Captured and Logged

If something is important enough to consider an event, then the organization must take steps to ensure that that event is predictably and consistently captured and logged. If events are not predictably captured and logged, then it is very difficult to rely on those events as triggers for automated activities within the organization’s IT environment.

Procedures

Organize a Team

No matter the size, a special event takes a concerted team effort to handle all of the details. Where possible, the Trustee(s) involved with the school and/or activity should be invited to participate on the planning committee. Depending on the type and scope of your event, you may consider identifying an Event Manager or Event Chair as well as individual Chairpersons for subcommittees, such as:

• Venue, logistics & catering management (selection, contracts, permits, insurance, etc.)
• Guest management (invitations, RSVPs, greeters, registration, seating arrangements, etc.)
• Speakers/presenters (selecting, confirming, logistics, management, etc.)
• Activities/entertainment
• Publicity/promotion (Web presence, events calendars, printed programs, media relations,
• signage, social media, etc.)
• Sponsor/partner management
• Transportation (if providing transport for guests, students, etc.)
• Volunteer management

Create a Master Plan

Work as a committee to create a master plan and event outline, incorporating all of the potential areas identified above. This plan will be used to manage the work being done and an outline of just the key details can be used to inform stakeholders as needed.

Create a run-of-show document if needed, outlining the expected timing and any requirements for each session or activity, including required setup, starting and ending times, staging directions, presenter/lead, audiovisual and production needs, etc.

Establish a Budget

Identify the available budget for your event, including internal and external sources for each of the potential expenses as part of the master plan. Create a balance sheet listing expenses for all functional areas of your meeting or event, and determine which expenses will be assumed by the host, potential sponsors, and/or by the attendees (fee).

If you are hosting a revenue-generating (fundraising) event, you will want to identify your break-even point (the point at which the revenue generated at the event is sufficient to cover the expenses of hosting the event).

Budget items to consider:

• Staff time
• Marketing expenses (design fees, printing, postage, etc.)
• Transportation
• Venue
• Guest accommodations (if applicable)
• Food and beverage
• Entertainment and recreation
• Audiovisual equipment and production costs
• Security (CCSD School Police, etc.)
• Special needs (interpreters, etc.)
• Taxes and gratuities, service charges, etc.
• Contingency fund for unanticipated, last minute expenses.

Determine Venue/Location

When planning an event it is important to be aware of how to create an event that is open and accessible to everyone. This can include finding a space that is safe and considerate of a wide range of abilities and considering visual, hearing, and physical accessibility to meeting areas and facilities.

No facility will look the same in-person as it does on paper, nor will you be able to get a sense of service without going to the site. If time allows, plan to visit the site and take pictures to help you block out the location of key items (catering, check-in table, seating arrangements, podium location, parking, etc.).

Identify and Establish Partnerships & Sponsors

Consider whether there are organizations that you could partner with or call on for sponsorships to defray the costs and increase potential participation. When you involve other people or groups in your event, they have a stake in helping spread the word and making the event a success.

You may want to consider:

• Seeking corporate sponsors to fund a portion of the event. This can range from large to small local businesses that might be able to provide goods or services, such as catering, flowers for the tables, raffle prizes, etc.
• Partnering with community organizations that might be able to offer a venue and/or assistance with organizing or staffing an event.
• Soliciting donations/sponsorships from key individuals involved with the school, such as the namesake, PTA/PTO committee, etc.

Create a Communications Plan

If you have ample lead time, effective planning, creativity, and willing volunteers or staff, you can promote your event with little or no cost.

Even with the most amazing speaker or entertainment line-up, you will need to promote your event to get people in the door. Event promotion may include:

• Invitations
• Web site story and/or banner (School and/or CCSD as appropriate)
• Newsletter/enewsletter
• Email announcement(s)
• Flyers/posters
• Direct mail
• Social media (Facebook, Twitter, LinkedIn, Instagram, YouTube, Flickr, etc.)
• Registering on a variety of online calendars, such as City, Chamber of Commerce, Rotary Club, etc.

Event management and event planning requires a few skills for success. Qualities such as attention to detail, creativity, patience and strategic thinking all come in to play at multiple points throughout the process. Therefore, it’s important to approach event management with a solid plan that helps you navigate the (sometimes) rocky road and emerge out of the other side relatively unscathed, bathed in the glory of a successful event.

Conceptualization: It is a first step in vent planning. in this phase, there are five important question one should ask- WHO are the people involved in this event?

    WHEN is the vent taking place?

    WHERE is the event happening?

    WHAT exactly is the event all about?

    WHY is the event taking place?

Cost: to prepare a budget for an event we have to keep in mind the cost limit set by the client. It is very important to know about the funds available and the expenses for the event.

Canvassing: To inform the guest about the event so they can make their schedule free to participate in the event. Canvassing in event management also include sponsorship, raising funds and advertisements.

Customizing: In customizing, the main focus is on the clients request and organised an event which matches their requirement.

Carrying out: In this phase, we have to execute an entire plan. It brings all planning into action. This plan is re-evaluated according to the client requirements, budgets limit and external conditions before the plan is completed.

An event manager oversees the design, set-up, and execution of events that bring people together. These events can run from small networking meetings with a few dozen guests to large-scale conferences with thousands of attendees over several days and everything in between.

No matter their scope, managing events is always a people-centric endeavor. Your goal is ensuring people get the most from a given event, and you work closely with people to achieve that goal.

Role

• Event Coordinator duties and responsibilities
• Understand requirements and details of each event
• Understand clients’ needs and wants
• Plan and organize events with attention to financial and time constraints
• Book venues and schedule speakers
• Meet with clients and coordinate with them regularly
• Look for and compare different vendors (catering, decorators, musicians etc.)
• Negotiate with vendors to achieve the most favorable terms
• Hire, train and oversee personnel
• Evaluate personnel and provide reports
• Manage all event operations (preparing venue, invitations, food, drinks etc.)
• Track the overall even expenses regularly
• Do event budget planning
• Stay within the budget
• Carefully oversee event happenings
• Offer solutions to resolve problems in a timely manner
• Evaluate event’s success and submit reports

Duties of an Event Manager:

• Pre-event organisation
• Planning an event that meets the stated objectives
• Working out event budget, and logistics (venue, catering, etc)
• Managing an effective event marketing campaign
• Managing registrants
• On-the-day management
• Ensuring that on the day logistics are running smoothly (catering, venue, equipment)
• Managing event staff to help mark attendance, run speeches, provide attendee support, collect sign ups etc.
• Sending SMS communications to attendees when needed (last minute venue changes, parking notices etc)
• Post-event communication, reporting & analysis
• Managing post-event marketing/communications (‘thank you for coming’ email, feedback surveys, etc)
• Reviewing reports
• Analysing feedback and report data to measure whether event goal was achieved

Different People

1) Infrastructure Manager

They have the following responsibilities:

1. Procurement management and resource management.
2. Responsible for setting up and dismantling the infrastructure for the whole event like:
3. Construction of boundary walls, entrance and exit gates, driveways, walkways and parking lots
4. Construction of AC/Non AC hangers/ halls, seating arrangement, stage design/ set up.
5. Construction of green rooms, staff rooms, storage rooms, power rooms, toilets, sewage systems, stalls, counters, booths and kiosks.
6. Responsible for setting up electricity, water and phone connections.
7. Responsible for conservancy (i.e. cleanliness).
8. Formulates, prepares and implements the risk management plan. (risks related to infrastructure management like sudden shortage of workers, materials, power failure etc)

2) Event Manager/Event Planner

They have the following responsibilities:

1. Responsible for planning and producing the whole event.
2. Responsible for procurement management and resource management.
3. Formulates, prepares and implement risk management plan (risks related to event planning and production).

3) Security Manager

1. Responsible for formulating, preparing and implementing the security plan and strategies. i.e. how to protect delegates, guests, service providers, organizers, sponsors, partners, clients, target audience, goods and merchandise, etc.
2. Procurement management and resource management.
3. Formulates, prepares and implements the risk management plan. (risks related to security like stampede, brawl etc)

4) Logistic Manager

1. Responsible for custom clearances and other clearances.
2. Responsible for warehousing of cargo
3. Cargo insurance
4. Expected to move goods and merchandise from one destination to the other in the most efficient manner.
5. Responsible for procurement management and resource management.
6. Formulates, prepares and implements the risk management plan. (risks related to logistic management like cargo theft, etc.)

5) Information Manager

1. Manages the information acquired through different sources.
2. Responsible for the documentation of all business operations carried out pre-event, at-event and post-event.
3. Maintains database of service providers, delegates, guests, organizers, sponsors, partners, clients, target audience, media people and various govt. departments officials.
4. Formulates, prepares and implements the risk management plan. (risks related to information management like loss of data)

6) Event Coordinator

They are responsible for coordinating with all event professionals and ensures that business operations are efficient and effective.

The increasing competitive pressures brought on by globalization are forcing business professionals to find new ways to engage customers. There are many definitions of event marketing. It is defined as the marketing discipline focused on face-to-face interaction via live events, trade shows and corporate meetings among other event types. Others define it as designing or developing a ‘live’ themed activity, occasion, display, or exhibit (such as a sporting event, music festival, fair, or concert) to promote a product, cause or organization.

An event is a live multimedia package with a preconceived concept, customized or modified to achieve the clients’ objective of reaching out and suitably influencing the sharply defined, specially gath­ered target audience by providing a complete sensual experience and an avenue for two-way interaction.

Events are attracting worldwide attention and at the same time getting corporatized. Events have proved to be a versatile marketing communication tool, since they can be customized to cater to the needs of the industry.

According to Philip Kotler, Events are defined as “occurrences designed to communicate particular messages to target audience”.

Events can also be defined as something noteworthy that happens according to a set plan involving networking of a multimedia package thereby achieving the client’s objective and justifying their need of associating with events.

Characteristics

• It can be an observable occurrence.
• It can be designed to achieve certain goals.
• It can also be termed as experiential marketing.
• It is objective-oriented.
• It provides an avenue for effective interaction.

Types

1. Wide range of events:

Event marketing encompasses a wide range of event types:

1. Mega events and local events,
2. Exhibitions,
3. Trade shows,
4. Publicity stunts,
5. Themed and created events,
6. Corporate entertainment,
7. Award ceremonies.

Advantages

• It helps in brand building, that is, creating awareness about the launch of new products/brands.
• To highlight the added features of the product/services.
• It helps in rejuvenating brands during different stages of product life cycle.
• Helping in communicating the repositioning of brands/products.
• Associating the brand personality of clients with the personality of target market.
• Creating and maintaining brand identity.

Categories of Events

• Political Events
• Religious Events
• Everyday Life”
• Social Events; Weddings, Anniversaries, Death, Communions, etc.
• Entertainment Events
• Awareness Events
• Crafts and Creativity
• Sports Events
• Educative/Academic Events at colleges
• Corporate Events
• International Events
• Promotional Events

The Excitable Client

Everything you say is exciting to this client. They will enthuse, wax lyrical, delight in the details as you share your plans for their event. Feed off their energy and make it your aim to get attendees as excited as they are about the event.

The Demanding Client

They know what they want and they expect to get it. Forthright, blunt to the point of rudeness, the demanding client will make requests and expect you to jump. They tend to have a singular vision and be set upon it. With no respect for processes and protocol, they will interfere with your planning, contact you at all hours and not let up until they are wholly satisfied.

The Bargain Hunter Client

Budget-conscious and with a penchant for bargaining, this client will pinch every penny. Be prepared for them to encourage you to slash costs, cut deals, throw in extras in order to keep them happy. Dealing with a Del Boy can be disheartening: it’s all too easy to feel that they are undervaluing your skills and the effort you put in. However, stick to your guns and believe in your abilities.

The Grumpy Client

Nothing is quite good enough for this client. They are constantly moody and unenthused, even when you pull something spectacular out of the bag. Expect constant grumbles, occasional tuts, and a frown that never turns upside down.  Never fear though, beneath that tough exterior is a big softy.

The Impatient Client

With apparently no concept of how long things take and the pressures you are under, the impatient client wants things done NOW. You will be expected to drop everything to accommodate their requests.

Buyer person are focused on prospects looking to solve a problem or meet an objective that your products, solutions or services help them to achieve. Buyer person encompass all of the differing roles or stakeholders involved in the purchase decision and are usually represented by decision maker, influencer, champion, and gatekeeper roles. Distinctions can also be made as to economic buyer and functional buyer.

User person are designed to address the perspectives of those who work with your products, solutions or services on a daily basis. The goal is to help these “end users” achieve more complete use of the product, gain more value than they initially anticipated, as well as to help them become champions for continued use new additions, extensions or feature upgrades. They got what they needed to solve the original problem from your product, now how do they gain more value, or use more features? This persona is often the influencer in an account-based-marketing retention sale.

A person who buys the goods or services and pays the price thereof. The word customer is derived from the term ‘custom’ which means ‘practice’, so the word customer means the individual or entity who purchases product or services from a seller at regular intervals. It can also be known as client or buyer. They are divided into two categories:

Trade Customers: The customers who purchase goods in order to add value and resell them. These include Manufacturers, Wholesalers, Distributors, Retailers etc.

Final Customer: They are the customers who purchase it either for their own use or to hand over it to the final user.

The three kinds of customers:

• Former customers or ex-customers
• Existing customers
• Prospective customers

Consumer

a person who is the end user of the product. The word consumer is made from the word ‘consume’ which means ‘to use’. In this way, the word consumer means a person who purchases the product or service for his own use or consumption.

As per the Consumer Protection Act, 1986, it does not include the person who purchases the commodity for the purpose of adding value or resale for any commercial purpose. However, a person can use those goods or services to earn livelihood or self-employment. Any type of user, other than the buyer who purchases goods, consumes the goods by taking permission of the buyer will also come under the category of Consumer. It includes the person who avails the services for any consideration. Moreover, the beneficiary of such services will also be regarded as the consumer. There are three Consumer protection council in India:

• At national level: Central Protection Council
• At state level: State Protection Council
• At district level: District Protection Council

Marketing intelligence (MI) is the everyday information relevant to a company’s markets, gathered and analyzed specifically for the purpose of accurate and confident decision-making in determining market opportunity, market penetration strategy, and market development metrics. Marketing intelligence is necessary when entering a foreign market.

A Market Intelligence system focuses on the systematic collection and processing of information from all the relevant sources to ascertain the changing trends in the marketing environment. In simple words, the marketer gathers data from all the available sources and process these into meaningful information that can be used to make critical business decisions.

Marketing intelligence determines the intelligence needed, collects it by searching the environment and delivers it to marketing managers who need it. Marketing intelligence software can be deployed using an on-premises or software as a service (SaaS, or cloud-based) model. These systems take data from disparate data sources, like web analytics, business intelligence, call center and sales data, which often come separate reports, and put them into a single environment. In order to collect marketing intelligence, marketing managers must be in constant touch with relevant books, newspapers and trade publications. They must talk to various stakeholders like customers, distributors, and suppliers. In addition to this, they must also monitor social media and carry out online discussions. Marketing managers can design reports that correlate and visualize data coming from a variety of departments and sources (even, in some cases, external data). This allows them to see current key performance indicators in real-time (or as quickly as sources provide data) and analyze trends, rather than wait for analysts to deliver periodic reports.

Marketing intelligence systems are designed to be used by marketing managers and often viewed by employees throughout an organization. Notable systems on the market include Contify, Leadtime, Pardot, Marketo, and Hubspot. They may have user interfaces that closely resemble consumer software than the software around individual data sources, which are designed for use by analysts. Business intelligence, for example, can collect highly accurate, timely, granular data, but often requires IT support to build and edit custom reports.

Organizationally, marketing intelligence can be the name of the department that performs both the market intelligence and competitor analysis roles. Business intelligence of any kind may also be their responsibility, in tandem with (or solely performed by) the Finance department, for measuring market share and setting growth targets, the mergers and acquisitions group for exploring acquisition opportunities, the legal department to protect the organization’s assets or research and development for cross-company comparison of innovation trends and the discovery of opportunities through innovative differentiation.

Steps

• Train and Motivate Sales Force: A company’s sales force can be an excellent source of information about the current trends in the market. They are the “intelligence gatherers” for the company. The acquired facts can be regarding the company’s market offerings, whether any improvements are required or not or is there any opportunity for new products, etc. It can also provide a credible source to know about competitor activities, consumers, distributors, and retailers.
• Motivate Distributors, retailers, and other intermediaries to pass along important intelligence: Specialists are hired by companies to gather marketing intelligence. In order to measure the quality of production, the way the employees are behaving with customers, quality of facilities being provided; retailers and service providers send mystery shoppers. Firms can also assess the quality of customer experience with the shops with the use of mystery shoppers.
• Network Externally: Every firm must keep a tab on its competitors. Competitive intelligence describes the broader discipline of researching, analyzing and formulating data and information from the entire competitive environment of any organization. This can be done by purchasing the competitor’s products, checking the advertising campaigns, the press media coverage, reading their published reports, etc. Competitive intelligence must be legal and ethical.
• Set up a customer advisory panel: Companies can set up panels consisting of customers. They can be the company’s largest customers or representatives of customers or the most outspoken customers. Many business schools set up panels consisting of alumni who provide their knowledge and expertise and help in constituting the course curriculum.
• Optimal usage of Government data resources: Governments of almost all countries publish reports regarding the population trends, demographic characteristics, agricultural production and a lot of other such data. All this data must be or can be referred to as base data. It can help in planning and formulating policies for the companies.
• Information bought from external suppliers: Certain agencies sell data that can be useful to other companies. For example, television channels will require information on the number of viewership, ratings of TV programs, etc. An agency that calculates this information and generates this data will provide it to companies that need it.
• Collect Competitive Intelligence through online customer feedback: The customer’s view of a product is essential for any company. Ultimately it’s the customer who’s buying the product. Hence customer feedback must be taken. Online platforms like chat rooms, blogs, discussion forums, customer review boards can be used to generate customer feedback. This enables the firm to understand customer experiences and impressions. It becomes easier for companies to apply a structured system to do so as it can then scan out the relevant messages without much of a trouble.