Organizing an effective new product launch event requires significant investment across various categories. This article provides information on comprehensive pricing for product launch events, including necessary costs and estimated prices.
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Index
1. What is a new product launch event?
A product launch event is an event organized by a company or organization to introduce a new product to customers, business partners, and the media. It's an opportunity for businesses to make a first impression of their product, attract the attention of potential customers, and boost sales.
1.1 Significance of a New Product Launch Event
A product launch event is not only an opportunity for businesses to showcase the outstanding features, benefits, and value of a new product to the public and the press, but also a chance for businesses to make an impression on customers, thereby increasing brand recognition.
Product launch events also provide customers with the opportunity to experience the product, thereby stimulating customer demand, helping businesses reach potential customers and increase revenue. Furthermore, launching a new product that is innovative and different from competitors creates a competitive advantage for the business, helping to elevate its position in the market.
1.2 Process for organizing a new product launch event
To organize a new product launch event, businesses need to follow these steps in order:
- Research the product and target customers.
- Determine the time and location for the event.
- Develop ideas and a script for the product launch event.
- Develop a communication plan before, during, and after the event.
- Proceed with organizing the event.
2. Types of costs for organizing a new product launch event
The cost of organizing a new product launch event can vary depending on the scale, location, format, and several other factors. However, generally, the main types of costs involved in organizing such an event include:
2.1 Venue Rental Costs
Choosing a venue is the first step and a crucial factor in the success of a product launch event. Finding and selecting a venue that is both professional and cost-effective is not easy. Costs involved in venue rental include:
- Event venue deposit fee
- Insurance costs for the event (ensuring the safety of guests and organizers)
- Parking fees (for large-scale events)
Product launch events are typically held at event centers to project professionalism and prestige, saving companies time and effort in preparation. However, to reduce costs, many businesses also utilize their existing company space to host the event.
The event venue should be suitable for the company's product launch.
2.2 Event Equipment Costs
After determining the venue, decorating and setting up the stage for the product launch is also crucial. A well-designed, unique, and innovative stage will make a strong impression on guests and partners. In addition, the sound and lighting at the event also contribute to making it more attractive and exciting.
Event equipment costs include renting or purchasing sound systems, lighting, stages, display screens, and other supporting equipment necessary for the event. This cost accounts for at least 20% of the total event cost.
2.3 Party Costs
This is the cost for organizing the party, including food and drinks for guests, and catering services upon request. Depending on your budget, the nature of the event, and the number of guests, you can choose suitable party formats such as: dessert reception, buffet, restaurant party, etc.
Nowadays, party formats like mini buffets or afternoon tea parties are quite popular; however, the cost of catering at events is not cheap, so businesses need to survey and compare prices from many service providers before making a decision.
Parties are an integral part of product launch events.
2.4 Costs for entertainment programs
A product launch event that attracts public attention cannot be without entertainment. This includes the cost of hiring artists, bands, DJs, or other forms of entertainment to create a lively atmosphere at the event.
2.5 Event Organization Personnel Costs
To save costs, the company can leverage its existing staff to assist at the event. If the staff cannot meet the requirements for positions such as MC or event manager, the company can hire such a team from reputable service providers with experience in organizing similar events.
2.6 Event communication and promotion costs
Event communication and promotion costs are a crucial investment in attracting customers, building brand awareness, and ensuring the success of a product launch. This category includes diverse marketing and advertising activities, such as: printing banners, standees, flyers, and invitations; online advertising on social media platforms; collaborating with media outlets and newspapers to report on the event, etc. A well-planned and effective communication strategy will help businesses save costs.
2.7 Costs for the event organizing unit
If a business hires a professional event company, this cost will cover all services from concept development and planning to execution and event management. Hiring a reputable event organizer will save the business time and effort, increase the chances of event success, and minimize potential risks. The cost of the event organizer will depend on the scale of the event and the business's requirements.
The event organizer will bring professionalism to the event.
2.8 Costs of gifts for guests and partners
Expressing gratitude and giving thank-you gifts demonstrates a company's care and respect for its guests and partners. This also helps businesses build long-term partnerships that bring numerous business benefits. The cost of gifts will include the cost of purchasing and packaging them.
2.9 Estimated incidental expenses at the event
Unexpected events are unavoidable at any event. Therefore, when allocating budgets to various categories, businesses should also set aside approximately 5-10% as a contingency fund for unforeseen circumstances. This is a reserve for unforeseen expenses such as equipment repairs, weather changes, or other unexpected requests.
3. How much does it cost to organize a product launch event?
Cost optimization is a challenging task for businesses when organizing product launch events. To support businesses in financial planning, Newday provides a transparent and detailed price list, helping customers easily identify necessary expenses and compare prices of various services.
3.1 Package price for organizing a product launch event
| No. | Category | Unit price (excluding VAT) |
| 1 | Product launch backdrop | 120,000 VND/m² |
| 2 | Event red carpet (new 100 %) | 40,000 VND/m² |
| 3 | Stage | 150,000 VND/m2 |
| 4 | Sound, light | 1,800,000 VND/package |
| 5 | Relaxing tea party | 60,000 VND/portion |
| 6 | Program MC | 1,500,000 VND/person |
| 7 | Singer/band performing | 2,000,000 VND |
3.2 Quotation for equipment costs at the event
| No. | Equipment category | Unit price (excluding VAT) |
| 1 | Hiflex banner backdrop with iron frame. | 110,000 – 150,000 VND/m² |
| 2 | Stage platform (iron frame, wooden surface, new red carpet 100%) | 150,000 – 180,000 VND/m² |
| 3 | Backdrop spotlight (50W, moonlight, yellow) | 140,000 VND/piece |
| 4 | Space frame tents (square, round, with spans of 5m, 6m) | 60,000 – 70,000 VND/m² |
| 5 | Event tables (1.2m, 1.5m) | 90,000 – 120,000 VND/piece |
| 6 | Event chairs (chair covers, chair bows) | 25,000 – 35,000 VND/piece |
| 7 | Basic sounds | 1,500,000 – 2,000,000 VND |
| 8 | Stainless steel pillar (new 100%) | 30,000 – 35,000 VND/post |
| 9 | Printing services (bandrolls, banners, backdrops, standees, etc.) | 40,000 – 65,000 VND/m² |
| 10 | Podium | 450,000 – 500,000 VND |
| 11 | Event bar table (tablecloth, bow) | 100,000-120,000 VND/piece |
| 12 | Event bar stools | 80,000-100,000 VND/piece |
| 13 | Inflatable event arch (6-8-10m) | 2,500 – 3,500,000 VND/piece |
| 14 | Single-pole umbrella | 5,500,000 VND/pole |
| 15 | Semi-circular umbrella | 4,000,000 VND/pole |
| 16 | Event puppets (1 leg, 2 legs) | 600,000 - 700,000 VND/animal |
| 17 | Bubble Gate | 120,000 – 160,000 VND/m |
3.3 Quotation for event personnel costs
| No. | Human Resources | Unit price (excluding VAT) |
| 1 | Film | 2,500,000-3,500,000 VND/package |
| 2 | Take a photo | 1,500,000-1,800,000 VND/package |
| 3 | MC (Master of Ceremonies) | 1,500,000 VND/package |
| 4 | Event PG | 400,000 VND/person |
| 5 | Professional dance group (3-5 dancers) | 2,000 – 5,000,000 VND/article |
*Note: The above price list for product launch events is for reference only. The actual cost of your event may vary depending on your specific needs and requirements. Therefore, to optimize event costs, you need to:
- Discuss your requirements thoroughly with the event organizer so they can provide the most accurate quote.
- Read the service contract carefully before signing to avoid unexpected costs.
4. Newday – A professional product launch event organizer offering reasonable prices.
Newday is known as a professional event organizer, providing creative and effective solutions for new product launches at reasonable costs. In over 13 years of operation, Newday has organized many outstanding events, from cultural festivals, tourism festivals, and art festivals, to corporate events such as grand openings, inaugurations, sales launches, and new product launches. These include:
- Official launch event for Sapphire I subdivision – Vinhomes Ocean Park project
- The launch event for the Hoang Huy Commerce project was held online.
- Launch event of the “Career Has No Gender” campaign by the Vietnam Business Network for Women's Empowerment (VBCWE).
Events organized by Newday are highly regarded not only for their professionalism but also for their ability to create unique and memorable experiences, contributing to enhanced brand image and increased sales for clients.
The launch event for the Hoang Huy Commerce project was organized by Newday.
Hopefully, with the information in the article above, you have gained an overview of the costs of organizing a product launch event and can make appropriate spending decisions for your event.
For more detailed advice on Event Organizing Services Dear partners/customers, please contact us. Newday Media By calling the following phone numbers: 0904.033.333 / 0962.577.770 or leaving your information. HERE.
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