Description
MGT685: Capstone (Simulation)
Guidelines & Requirements
Overview: (important)
Business Simulation: Students will create a full business plan for a new startup business, including necessary evaluations and decisions about product design, marketing, finance, and other aspects of the business. Students will be required to conduct thorough situation analysis, and industry and environmental analysis. The analysis will include a variety of models, such as SWOT analysis, Porter’s Five Forces, PESTEL, Ansoff Matrix, BCG Matrix, Balance Scorecard, and others, to identify potential strategic solutions. Students will rely on the knowledge gained from all courses taken during their EMBA journey including economics, finance, organizational behavior, strategic management, and more, to make strategic decisions and develop an effective and realistic business plan.
Phase Two: (current phase)
Part one: (completed)
Part Two: (current)
Part Three: (later)
Creating the Comprehensive and Innovative Business plan see attached to follow the structure (Phase Two Template SIMULATION)
Please note that for any progress in the project, I should share it with my supervisor for review; it might require adjustments/modifications.
Length: 60 to 65 pages
The most important is to cover all the requirements please follow the attached for the grading (Rubric Simulation)
Phase three: (later)
Once the project is accepted and finalized by the supervisor, based on it we need to develop a PowerPoints & Presentation speech.
Length:
PowerPoint: to be determine later
Presentation speech: based in the PowerPoint
The most important is to cover all the requirements please follow the attached for the grading (Rubric Simulation)
Guidelines & Requirements
Overview: (important)
Business Simulation: Students will create a full business plan for a new startup business, including necessary
evaluations and decisions about product design, marketing, finance, and other aspects of the business. Students
will be required to conduct thorough situation analysis, and industry and environmental analysis. The analysis
will include a variety of models, such as SWOT analysis, Porter’s Five Forces, PESTEL, Ansoff Matrix, BCG Matrix,
Balance Scorecard, and others, to identify potential strategic solutions. Students will rely on the knowledge
gained from all courses taken during their EMBA journey including economics, finance, organizational behavior,
strategic management, and more, to make strategic decisions and develop an effective and realistic business
plan.
Phase One: (completed)
It is completed; please see the attached file (Business Plan Proposal. VenYou), as I have
updated and added additional information.
Phase Two: (current phase)
Part one: (completed)
Part Two: (current)
Part Three: (later)
Creating the Comprehensive and Innovative Business plan see attached to follow the structure (Phase Two
Template SIMULATION)
Please note that for any progress in the project, I should share it with my supervisor for review; it might
require adjustments/modifications.
Length: 60 to 65 pages
The most important is to cover all the requirements please follow the attached for the grading (Rubric
Simulation)
Phase three: (later)
Once the project is accepted and finalized by the supervisor, based on it we need to develop a PowerPoints &
Presentation speech.
Length:
PowerPoint: to be determine later
Presentation speech: based in the PowerPoint
The most important is to cover all the requirements please follow the attached for the grading (Rubric
Simulation)
Business Plan
Business Name
Tagline/Slogan (if any)
Submitted to:
Saudi Electronic University
Master Capstone Project
MGT685
Prepared by:
Your Name
Student ID:
Mentor
Dr. ABC…
I
II
III
IV
V
VI
VII
Executive Summary
Business Description
a Overview of the Business Opportunity
b Expected Outcomes
Market Research
a Industry Analysis
i
Macro Environment
ii
Competitive Environment
iii
Strategic Partners & Stakeholders
b Customer Analysis
i
Market Segmentation
ii
Target Market
iii
Customer Needs
c Marketing Strategy
i
Product Strategy
ii
Price Strategy
iii
Promotion Strategy
iv
Place Strategy
Financial Planning
a Start-Up Costs
b Financial Projection
i
Sales Forecast
ii Expense Forecast
iii Cash Flow Forecast
iv Break-Even Analysis
c Funding Sources
Operations Plan
a Management Team
b Legal and Regulatory Requirements
c Production Plan
d Supply Chain Management
e Quality Control Plan
Risk Management Plan
a Risk Identification
b Risk Analysis
c Risk Mitigation Strategies
Conclusion
a Summary of Findings
b Lessons Learned
c Future Directions
References
Appendices
Formatting Guidelines:
Note: Use 1.5-spaced text and size 12 Times Roman font throughout the document, including
headings and subheadings.
References: APA Style.
MGT685_Simulation_EMBA
Business Plan
VenYou
Part One
1
MGT685_Simulation_EMBA
I
Executive Summary
II
Business Description
a Overview of the Business Opportunity
b Expected Outcomes
III
Market Research
a Industry Analysis
i
Macro Environment
ii
Competitive Environment
iii
Strategic Partners & Stakeholders
b Customer Analysis
i
Market Segmentation
ii
Target Market
iii
Customer Needs
c Marketing Strategy
IV
i
Product Strategy
ii
Price Strategy
iii
Promotion Strategy
iv
Place Strategy
Financial Planning
a Start-Up Costs
b Financial Projection
i
Sales Forecast
ii
Expense Forecast
iii
Cash Flow Forecast
iv
Break-Even Analysis
c Funding Sources
V
Operations Plan
a Management Team
b Legal and Regulatory Requirements
c Production Plan
d Supply Chain Management
e Quality Control Plan
VI
Risk Management Plan
2
MGT685_Simulation_EMBA
a Risk Identification
b Risk Analysis
c Risk Mitigation Strategies
VI
Conclusion
I
a Summary of Findings
b Lessons Learned
c Future Directions
References
Appendices
3
MGT685_Simulation_EMBA
Overview of Business Opportunity
The global venue rental and event management industry is experiencing significant
transformation due to increased demand for flexible event spaces and more efficient booking
solutions. Vision 2030 has accelerated these trends in the Kingdom of Saudi Arabia due to its priority
in tourism growth, economic diversification, and development of world-class entertainment and
business infrastructure. Despite this growth, securing event spaces remains a complex and inefficient
process that requires lengthy negotiations, reliance on intermediaries, and extensive paperwork.
VenYou business comes in to solve these challenges and make booking event spaces a seamless
process.
VenYou is a digital platform that will revolutionize the event space booking industry by
providing a seamless and automated solution to the traditional and cumbersome process. It will
operate as a digital marketplace where users can browse, compare, and book venues in real-time. The
platform will leverage virtual reality and artificial intelligence to offer personalized venue
recommendations. VenYou will have virtual tours of different spaces to reduce the need for on-site
visits, thus saving time and offering instant bookings. There will be a secure online payment
processing that will allow customers to finalize transactions without delays. The idea of this business
comes in at a time when high-profile initiatives such as the Red Sea project, Riyadh Season, and the
upcoming mega events such as the Expo 2030 and FIFA World Cup 2034 are primed for disruption.
The demand for premium and short-term event spaces continues to rise, yet event organizers and
venue owners do not have a centralized platform to connect efficiently. VenYou has been designed
to bridge this gap through a technology-driven solution that simplifies the booking process and
enhances accessibility for diverse customers.
In addition to simple venue booking, VenYou will offer comprehensive event planning. It will
incorporate value-added services designed to streamline the event management process and offer a
seamless experience for the organizers and venue owners. One of the core value-added services will
be even insurance, which will protect organizers from unpredicted circumstances such as property
damage, last-minute cancellations, and liability claims. In most cases, event planners struggle with
risk management when dealing with high-profile events and large public gatherings. Integrating the
insurance coverage option into the platform, VenYou users will have peace of mind and focus on
even execution rather than worrying about possible legal and financial risks.
Logistics coordination is another critical added service that will ensure that event organizers
can access reliable setups, transportation, and breakdown of services. Most events require event
planners to have their own logistics solutions, which, at times, are costly and time-consuming.
4
MGT685_Simulation_EMBA
VenYou will partner with trusted logistics providers in Saudi Arabia, to enable the platform users to
book the venue-related logistics, such as stage setup directly in the platform. The approach will reduce
the inefficiencies of dealing with multiple vendors and offer cost-effective and integrated solutions
for all even-related logistical needs.
VenYou will also offer on-site support services such as security personnel, event staffing, and
customer assistance to ensure event operations run smoothly. In most cases, event planners have to
balance a complicated hiring process to find experienced professionals for roles such as technical
support staff, ushers, and security teams. VenYou’s support services will allow event planners to hire
qualified personnel on demand, thus reducing the burden of vetting individual contractors. The onsite support services will be highly beneficial for large scale events such as concerts and trade shows,
where operational efficiency is essential for even success.
The integrated approach enhances user convenience and creates a competitive advantage over
the existing venue’s existing platforms. Its ability to offer a one-stop solution for event organizers will
ensure that VenYou facilitates venue discovery and transforms the broader event planning experience.
The holistic approach will redefine the event planning experience, offering users the venue and
essential tools and services to execute their events from start to finish successfully. The competitive
advantage will position VenYou as the preferred choice for event organizers and businesses seeking
all-inclusive event management solutions. As Saudi Arabia continues to position itself as a global
business and entertainment hub, demand for technology-driven solutions in the event space sector
will increase. VenYou positions itself to capitalize on this trend and offer a digital-fast approach that
reduces costs and offers flexibility for event organizers.
Expected Outcomes
Digitalization of The Event Space Booking Process
VenYou will eliminate the traditional inefficiencies such as manual negotiations, physical onsite visits, paperwork, and prolonged response times. These inefficiencies have created significant
challenges for businesses, event organizers, and venue owners, resulting in delays,
miscommunication, and lost opportunities. VenYou will alter this outdated system and introduce the
automated platform to streamline the venue booking process and ensure faster, more transparent, and
more efficient transactions. With VenYou, there will be no need for back-and-forth discussions with
venue owners as the digital platform will provide instant booking. The platform will have fixed
pricing models, instant confirmation features, and real-time venue availability, allowing users to
secure a venue within minutes instead of days or weeks. Digitalization will also enhance accessibility
by removing geographical and logistical barriers (Vural et al., 2020). There will be no need to
physically visit multiple venues to assess their suitability. Instead, virtual tours with high-resolution
5
MGT685_Simulation_EMBA
images will match the suitable event spaces based on their preferences. Therefore, digitalizing the
event space booking process will save time and cost and allow for remote planning.
Job Creation and Economic Growth
VenYou will unlock new business opportunities, which will be a source of more jobs and
economic growth. By connecting venue owners with a larger pool of potential clients, VenYou will
enable property owners to maximize venue occupancy, generating consistent revenue streams. For a
long time, venues have been operating below their full potential due to a lack of proper marketing
strategies and limited access to event organizers. VenYou will offer centralized and highly visible
marketplaces where venue owners can showcase their spaces to a diverse audience of event planners
and entrepreneurs. VenYou will also generate new revenue streams for local service providers by
integrating value-added services such as catering and security management.
Financially, VenYou will achieve steady revenue growth through multiple income streams,
such as subscription plans, commission-based transactions, and value-added services. Its scalable
business model will provide for a sustainable expansion in Saudi Arabia and later to other GCC
markets where the demand for event venues is growing. With time, VenYou will secure strategic
partnerships with event planners, corporate entities, and government-backed tourism initiatives, thus
strengthening its market influence and market influence.
Enhancing Transparency in The Event Industry
It has been challenging for event organizers and businesses to search venues due to
inconsistent pricing structures, lack of verifiable customer feedback, and unreliable availability
updates. Most venue owners have not been publicly disclosing their pricing, leading to timeconsuming negotiation and unexpected costs, making the event planning process more complicated.
Also, since most of the bookings are conducted offline through unstructured communication
channels, clients struggle with inaccurate availability of information, resulting in double bookings,
cancellations, and last-minute disappointments. VenYou will eliminate these pain points by
implementing a transparent, technology-driven approach prioritizing efficiency, trust, and clarity.
With the platform, real-time updates will allow event organizers to instantly check venue schedules
and remove the need for lengthy discussions with the venue managers. A standardized pricing model
will ensure that all pricing details are displayed upfront and available to all potential customers, thus
preventing the pain of last-minute price increases. The fixed-rate pricing model will ensure fairness
and consistency across all listings, allowing event organizers to make informed decisions about the
venue.
To further build trust and enhance transparency, VenYou will have a verified user review
system enabling clients to rate and provide venue feedback based on their actual experiences (Rashid
6
MGT685_Simulation_EMBA
& bin Ahsan, 2024). Many businesses are strolling with misleading advertisements and incomplete
venue descriptions, resulting in unmet expectations upon arrival. VenYou will allow verified
bookings to ensure that all feedback is authentic, assisting future users to make data-driven decisions
when selecting a particular event space. Positive reviews will incentivize venue owners to maintain
high service standards, and negative reviews will highlight areas that require improvement, resulting
in better overall industry practices. Transparency will also be in financial transactions (Rashid & bin
Ahsan, 2024). Most venue bookings today require bank transfers, cash payments, and informal
agreements, increasing the risks of fraud and financial disputes. VenYou will avoid such risks by
integrating a secure online payment and gateway to ensure all transactions are safely and efficiently
processed. Digital receipts and automated invoicing will be issued to ensure greater accountability
for both parties. The transparency-driven model will assist in reshaping the entire event industry and
setting new benchmarks for efficiency and fairness.
Market Research
Industrial Analysis
Macro Environment -PESTLE Analysis
Political Factors. Government policies and economic diversification efforts in Saudi
Arabia strongly support the expansion of the event industry. There are favorable regulations to
encourage domestic and foreign investments in the hospitality and tourism sector. Large-scale
initiatives such as NEOM and the Red Sea Project reflect the commitment of the state to position
Saudi Arabia as a global hub for events and conferences. The upcoming events will bring
unprecedented demand for event spaces, making it an ideal time for VenYou to enter the market.
However, there are challenges related to data privacy and event licensing requirements. VenYou
must comply with e-commerce law and data protection policies to operate legally and maintain trust
within the market. VenYou will have to comply with the Personal Date Protection Law, which
regulates how the platform will be collecting, storing and processing user data. Not complying with
this law may result to hefty fines and reputation damage. There are licensing laws that require event
organizers to secure permits from GEA for any public gatherings.
Economic Factors. Saudi Arabia has a strong economic performance driven by high oil
revenues and government-backed diversification strategies, which are creating a favorable market
for VenYou. Rising disposable income is resulting in increased consumer spending on networking
forums, exhibitions, and events, thus presenting revenue opportunities for the platform
(Mohammed, 2024). Saudi Arabia continues to attract foreign investment and international business
events, increasing the demand for real-time even booking. Nevertheless, the event industry is highly
sensitive to economic fluctuations. Recession and inflation make businesses reduce spending on
7
MGT685_Simulation_EMBA
events, thus affecting the demand for premium venue spaces. The GDP is Saudi has increased by
3.2% stemming from non-oil sectors such as entertainment and tourism. Events industry is
becoming a lucrative sector for digital transformation making IMF forecast steady economic growth
through 2027.
Social Factors. There is a major cultural transformation in Saudi under Vision 2030, which
has increased the acceptance of entertainment festivals, public events, and business networking
forums. The younger generation seeks digital-first solutions for venue booking, social gatherings,
and event planning. It means that consumer preferences have shifted towards transparency,
convenience, and instant booking, which aligns with VenYou’s value proposition. However,
VenYou will ensure that venues comply with cultural norms, where there will be filtered search
options for venues that meet privacy and religious requirements. For example, venues should have
separate sections for men and women, prayer spaces, and family-only areas. Platforms such as
Eventbrite and Peatix have made event planning be digital in western and Asian markets. Eventbrite
has already automated ticketing system increasing booking efficiency and user engagement. Using
such an approach will enhance VenYou adoption in Saudi Arabia.
Technological Factors. There has been a lot of digital transformation in the event booking
industry. VenYou will use AI-driven venue recommendations, virtual venue tours, and automated
booking systems to enhance user experience and reduce inefficiencies. The Saudi government has
invested in the 5G network, cloud computing, and Fintech solutions that will assist in digital
transactions and mobile-based bookings. There is also widespread adoption of mobile wallets and
secure online payments that match VenYou’s secure transaction model to ensure transparent, safe,
and fast financial interactions between venue owners and event planners. VenYou will use AIpowered venue recommendation based on the type of event, budget and user preferences. In
contrast to traditional booking methods, AI will analyze booking history and user reviews to refine
suggestions. There will also AI chatbots that will provide real-time customer support reducing the
response time.
Environmental Factors. Sustainability is a major environmental factor in the event
industry. Individuals and businesses prefer eco-friendly venues. VenYou will have to partner with
green-certified venues, such as the Marriot Riyadh Diplomatic Quarter, which has the LEED Gold
Certification, to provide event spaces. It will also liaise with venue owners with energy-efficient
spaces and sustainable event planning services such as carbon footprint tracking and waste
reduction strategies. Since Saudi Arabia experiences extreme heat and unpredictable sandstorms,
which may affect outdoor events, VenYou will have weather-tracking integrations and eco-friendly
8
MGT685_Simulation_EMBA
décor recommendations to position itself as a socially responsible brand. The Marriot Riyadh
Diplomatic Quarter, is one of the green-certified venues certified with King Abdullah Financial
District (KAFD) and LEED Gold conference space, which implement green building standards.
VenYou will partner with eco-friendly locations to align with Saudi Arabia’s Green Initiative goals.
Legal Factors. Saudi Arabia has introduced strict guidelines for consumer protection in
digital transactions. The government expects businesses to disclose their pricing structures and
define their refund policies to maintain transparency in their service agreements. There are also
even licensing laws and venue capacity regulations to guarantee the safety of all event attendees.
There are also intellectual property and copyright laws about digital platforms and automated
booking software. VenYou’s technology infrastructure and business model must align with
international and local digital business regulations. VenYou will implement strict compliance
measures, such as transparent pricing to align with the e-commerce law in Saudi Arabia and
encrypted financial transactions to comply with anti-fraud regulations.
Market Trends
Digital transformation of the event booking industry. The shift from manual venue
booking to automated digital platforms is a significant industry trend. Event organizers now prefer
self-booking options over time-consuming manual negotiations and physical visits. Adopting AIdriven platforms and automated transactions has made event planning accessible. The government’s
push for digital transformation and e-commerce growth further accelerates this shift. VenYou aligns
with this trend by offering real-time venue availability and an AI-powered booking system. For
example, Eventbrite already have a simplified event planning that have instant booking. VenYou will
offer such a real-time venue availability with the AI-powered recommendations.
Expansion of the entertainment and tourism sector. Saudi Arabia is positioning itself as a
global entertainment destination through government-backed events such as Riyadh Seasons and the
Red Sea International Film Festival. The rise of sports events, music festivals, and cultural exhibitions
has created a surge in demand for diverse venue spaces. The demand will increase further due to the
upcoming international events. VenYou will partner with government entities, entertainment
organizers, and private venue owners to ensure the optimal availability of large-scale events. Riyadh
season hosted more than 12 million visitors in 2023 increasing the demand for venue booking in the
upcoming events such as the Expo 2030.
Growth of Hybrid and Virtual Events. In this post-pandemic era, there is a change in how
venues are selected since there is a combination of physical attendance and virtual participation.
Companies now want event spaces where there is high-speed internet and live-streaming capabilities
9
MGT685_Simulation_EMBA
to facilitate remote team meetings, international conferences, and hybrid networking sessions.
VenYou will incorporate tech-enabled venues that support hybrid event solutions to allow users to
filter their search for venues based on internet connectivity and digital integration capabilities. There
are more businesses that want venues that have live-streaming. For example, in the Dubai’s Expo
2020, there was successful integration of hybrid events that attracted millions of virtual attendees.
VenYou will locate venues that are tech-equipped for hybrid meetings and conferences.
The growing popularity of short-term and on-demand venue rentals. Event venues have
long been booked through long-term contracts or exclusive agreements, limiting flexibility for
independent organizers and small businesses. However, now, on-demand venue rental models have
become popular, allowing organizers to book spaces for shorter durations based on their needs. The
trend is stronger among entrepreneurs and digital creators who want flexible and affordable venues
for brand activations and influencer collaborations. Platforms such as Peerspace provide for hourly
venue rentals which make event planning easier.VenYou will use such an approach to allow for a
flexible booking option.
Sustainability and green event planning. The world’s focus on sustainability has now
extended to the event industry, where consumers and businesses seek eco-friendly venues and
sustainable event planning solutions (Borbon, 2022). Government and private corporations are
implementing green event policies that encourage the use of energy-efficient spaces and recyclable
materials in events. VenYou will prioritize green-certified venues that adhere to eco-friendly building
standards and offer water management recycling programs for event organizers. By placing itself as
a leader in sustainable event booking, VenYou will attract eco-conscious businesses, government
initiatives, and sustainability-driven organizations. Marriot Riyadh Diplomatic quarter is among the
green certified venues that VenYou will partner with to offer sustainable event planning options such
as waste management.
Competitive Environment
Key Competitors. Even though traditional venue booking methods still dominate in the
market, the rise of digital platforms, shifts in customer preferences, and government investment in
business tourism sectors have reshaped how spaces are sourced and reserved. VenYou will face direct
and indirect competition in Saudi Arabia’s event industry. The direct competition will be from other
digital venue booking platforms already in the Saudi Arabian market. Eventat is one platform offering
event space listings for private and corporate functions. It provides a basic search function but lacks
instant booking and AI-driven recommendations. There is also VenueScanner, which is an
international venue booking platform that offers a wide range of venues, though with limited regional
customization. VenueScanner used a localized payment system while VenYou will use digital wallets
10
MGT685_Simulation_EMBA
such as STC pay to provide for seamless transactions. Indirect competitors are those that conduct
manual venue bookings. Conference centers, hotels, and private event halls conduct direct venue-toclient bookings via the traditional inquiry-based systems that require event organizers to directly
contact the venue, negotiate prices, and finalize the contract manually. There are also event brokers
and agencies who act as venue consultants and charge clients a service fee to match with available
event spaces. Even though they offer personalized services, there is no instant booking that VenYou
will provide. VenYou will surpass Eventat which depend on venue owners to conform venue
availability by providing real-time venue availability through an automated scheduling.
Barriers to Entry. Even though VenYou has a strong market opportunity, the event space
booking industry presents challenges for new entrants. Convincing corporate clients, venue owners,
and entertainment organizers will require strong partnerships with venue owners. Most of them
depend on traditional booking methods, and thus, convincing them about an online platform is not
easy. Building trust and fostering adoption will require extensive marketing, incentives, and
demonstrations. VenYou will provide trial listings for new venue owners to experience the benefits
before committing to a commission-based model.
Entry barriers are also in regulatory compliance. VenYou must comply with licensing laws,
data protection policies, and e-commerce regulations to operate legally in Saudi Arabia. In Saudi
Arabia, strict regulatory frameworks govern online transactions, digital businesses, and event-related
services to ensure data security and consumer protection. For example, VenYou must obtain a
commercial registration from the Ministry of Commerce, which will legalize it to enter into formal
contracts with service providers and venue owners. There is also the General Entertainment Authority
(GEA) Event licensing, which regulates private and public events in Saudi Arabia (Madani, 2022).
Since VenYou will be facilitating bookings of trade shows, concerts, and entertainment activities,
some venues will require GEA licensing. VenYou will ensure it closely work with viable legal
consultants to ensure it is aligning with all policies and automate the event permit requests with
General Entertainment Authority (GEA) system to reduce administrative hustles.
Competitive Advantage. There are already platforms operating in the Saudi Arabian market,
and thus, VenYou must differentiate itself from its competitors. Unlike most competitors that rely on
venue inquiries, VenYou will be providing instant bookings through an automated digital platform
with zero wait time. VenYou will be using an AI-driven venue matching to recommend the most
suitable venues based on budget, event type, and customer preferences. This means that it will offer
personalized and data-driven recommendations, which most traditional platforms and manual
processes lack. Unlike the competitors, which require users to search through listings manually,
VenYou will use an AI-powered algorithm to analyze factors and recommend the most suitable
11
MGT685_Simulation_EMBA
venue. The AI technology will foster venues based on the type of event, such as exhibitions, corporate
meetings, and weddings. The AI matching will save users much time, thus making it advantageous
over its competitors that rely on manual search methods. The AI will use machine learning to improve
recommendations with time. For example, when customer frequently book conference room for large
holdings, the system will be prioritizing for the client venues that have such layouts and availability
in all he future searches. For new clients, there will be pricing algorithms that will help them get the
best deals by analyzing the demand patterns and offering venue discounts.
Strategic Partners & Stakeholders
VenYou will operate in a complex and rapidly changing ecosystem that needs a strong
strategic partnership and engagement with major key stakeholders for smooth market penetration,
regulatory compliance, and sustained competitive advantage. Venue owners and event space
providers are among the major strategic partners. VenYou’s core offering depends on its ability to
curate a diverse portfolio of venues that cater to trade shows, entertainment functions, and private
gatherings. Partnering with hotels, conference centers, and independent venue owners will provide
an exclusive listing agreement to make VenYou the preferred booking platform. Inefficient booking
systems in Saudi Arabia has made some event spaces remain underutilized; thus, partnering with
owners will increase occupancy and utilization rates. VenYou will consider collaborating with wellknown chains such as Hilton Riyadh and Jumeirah Hotels to assist it in securing premium event
spaces.
Technology and AI partners are the other strategic partners since VenYou is relying on AIdriven venue matching and secure digital transactions. VenYou will establish partnerships with
leading technology providers in cybersecurity solutions to protect sensitive financial data and comply
with the Personal Data Protection Law in Saudi Arabia. Amazon Web Services and Microsoft Azure
are some of the potential strategic technology partners, as well as local AI startups specializing in
venue optimization algorithms. Such a partnership will reinforce the ability to process high volumes
of transactions and deliver a seamless user experience. Partnering with firms such as Google cloud
and Quant will assist in enhancing venue recommendations engine and ensure there is a seamless
platform performance. Such a collaboration will assist in refining machine learning algorithms
enhancing venue matching accuracy.
For seamless and secure financial transactions, VenYou will collaborate with payment
processors, banks, and fintech companies to facilitate multi-currency payment. VenYou targets even
international event organizers and corporate clients who can make payments in different currencies.
The partnership will assist in integrating installment payment options, mostly for premium venue
bookings, to increase affordability. These partners will include Saudi Payments (Mada), STC Pay,
12
MGT685_Simulation_EMBA
and international gateways such as Visa and PayPal, to ensure smooth transactions for both local and
international event organizers.
Since VenYou will be offering value-added services, it will partner with logistics, hospitalist,
and event service providers. Event logistics firms will assist in managing event setups and equipment
transportation. The hospitality and catering providers will offer food, beverage, and VIP services.
Security firms will ensure that all events adhere to the public event regulations and that security is at
the optimal level. In the Gulf region, there is JustClean company that offer event cleaning services
and has already partnered with different platforms to offer post-event cleanup. VenYou will adopt
such a model to work with it for the value-added services.
The major stakeholders are the event organizers and corporate clients seeking technologydriven and cost-effective solutions to book venues. As the primary platform users, event organizers
expect real-time availability and transparent pricing to reduce planning inefficiencies. Venue owners
are the second list of stakeholders who will benefit from VenYou being in the digital marketplace.
They will enjoy the advantages of higher booking rates, revenue optimization, and access to real-time
analytics on seasonal demand fluctuations and customer trends. By effectively combining
partnerships with key stakeholders, VenYou will build a legally compliant and competitive business
model that will pave the way for it to become a leader in the event industry. There will be need for
hosting industry networking events and exclusive demo sessions where businesses will experience
the platform’s features firsthand.
Customer Analysis
Market Segmentation
The event space booking industry is diverse and serves a broad range of customers, starting
with corporate, social, and entertainment-driven customers. VenYou will apply a multi-dimensional
segmentation approach, grouping customers based on their geographical location, demographics,
behavioral tendencies, and psychographic attributes. A well-defined segmentation will ensure the
platform attracts high-value customers to maximize revenue, develop personalized marketing
strategies that will improve conversion rates, and optimize the platform features to enhance user
satisfaction.
Demographic Segmentation
Demographic characteristics include occupation, income levels, age, and industry types,
which significantly influence budget limitations, venue preferences, and booking behavior. The event
planners and marketing agencies will be individuals between the ages of 28 and 50, middle-income
professionals working in the event, advertising, and media industry. Their primary needs are
13
MGT685_Simulation_EMBA
accessing multiple venue categories with flexible rental durations and integrated with event services
such as security and catering. The budgets for these customers will depend on the client’s funding.
The corporate clients and business organizations will have middle to high-income
professionals working in the real estate, healthcare, technology, finance, and government sectors.
They look for large-capacity conference rooms for meetings and hybrid event spaces with an
audiovisual infrastructure to support remote participation. Their budget will be high to medium,
depending on their capacity. They will prefer VenYou for instant booking and transparent pricing,
thus streamlining venue selection. The corporate sector in Saudi Arabia accounts for more than 60%
in the event industry, making it a major target for high-end venues. VenYou will also target
professionals aged 28-50, who actively organize conferences and networking events.
Geographic Segmentation
The event industry in Saudi Arabia is mostly in urban centers, even though the demand is
expanding to other markets. In this case, the primary markets are major cities such as Jeddah, Riyadh,
Dammam, and Dhahran, which are major hubs for corporate events, business tourism, and
government conferences. The secondary market is local business events and growing tourism events
such as the Red Sea Project and Neom, which are increasing the demand for luxury and outdoor event
spaces. VenYou will also expand to other areas such as the AIULa’s winter which had attracted more
than 50000 attendees in 2023, increasing the demand for unique venues.
Behavioral Segmentation
Customer behavior will highly depend on the type of event, budget flexibility, and booking
urgency. There will be planned bookers who may book months in advance to secure premium venues
and high-end services. There will be last-minute bookers, mostly freelancers, SMEs, and pop-up
entrepreneurs who require on-demand booking and seek affordable short-term rentals with immediate
availability. VenYou will cater to these customers through AI recommendations. Since customers
vary in their booking behavior, VenYou will introduce early-bird discounts for the corporate clients
who book larger spaces in advance. Loyal customers will be getting discounted services such as free
venue setup for being consistent customers.
Psychographic Segmentation
The segmentation groups customers based on their purchasing behavior, interests, lifestyles,
and values. In most cases, event planning is driven by personal preferences, emotional decisionmaking, and brand identity. An insight into these psychographic traits will assist VenYou in tailoring
its marketing strategies to enhance user experience. In this segmentation, there will be luxury
experience seekers, mostly high-net-worth individuals, corporate executives, and luxury brands.
These customers prefer premium event spaces offering VIP amenities and high-end services. For
14
MGT685_Simulation_EMBA
example, they prefer places such as rooftop lounges and 5-start hotels, where there is a luxury guest
experience. The second group is the budget-conscious customers, who are mostly small business
owners, social event organizers, and startups. They prioritize cost efficiency and flexible payment
options. They are open to less traditional spaces like shared officers and co-working spaces. They are
highly price sensitive thus, look for the best deal and book at the last minute. For the luxury clients,
there will be exclusive premium listings such as five-star hotel ball rooms
Target Market
VenYou’s target market caters to corporate clients and event organizers, focusing on major
urban centers in Saudi Arabia. The platforms aim to address the unique needs of these customers by
offering AI-driven venue matching, seamless booking, and transparent pricing. Corporate clients
include those across the healthcare, technology, finance, and government sectors. These clients
require venues for business meetings, training sessions, and hybrid events that can accommodate inperson and remote participants. They have a high budget for the venues and book venues equipped
with state-of-the-art audiovisual equipment, high-speed internet, and flexible layouts. To meet these
corporate clients’ needs, VenYou will have subscription- based pricing for the recurring meetings to
save on costs and assist in space recommendations.
Event planners and marketing agencies are the next set of target markets. Event planners
require a wide range of venue options catering to events such as conferences, social gatherings, and
private functions. Event planners require short and long-term venues with flexible rental durations.
The marketing agencies advertise platforms with integrated event services such as security and
logistics. For these target markets, transparency in pricing and instant booking is paramount. VenYou
will offer instant booking conformations, thus saving the event planner days of back and forth
negotiations. Frequent planner will also benefit from package deals that bundles with security,
hospitality services and reducing coordination hassles.
Even though venue owners are major stakeholders, they are still a target market. They include
hotels, conference centers, and independent venue owners who will benefit from VenYou’s ability to
increase booking rates and optimize revenue. Most of these centers are in urban areas, but there is a
significant growth in merging regions, specifically those tied to the Red Sea project and Neom. They
are a target market, so they can utilize their spaces through the platform’s efficient booking system
and diverse client access. They require consistent flow of bookings, where AI-powered analytics will
offer insights on when there is on peak booking and customer preferences, thus optimizing their
businesses.
Customer Needs
15
MGT685_Simulation_EMBA
Across all the customer segments, ease of use of the platform is necessary. A platform that is
easy to navigate ensures customers have a seamless experience from venue search to booking and
payment (Chang & Li, 2022). Customers need to feel confident with their personal and financial
information. VenYou will ensure that it builds customer trust by partnering with the leading payment
processors and having the best cybersecurity measures to prevent data breaches. Whether customers
book in advance or at the last minute, they prefer a platform that offers quick responses and smooth
transactions. VenYou will operate with the assumption of customers first, regardless of whether they
come early or late. VenYou will ensure that all venue listings are well-verified to ensure clients book
event spaces from reputable venue owners. There will secure payments from accredited payment
systems such as Pay Tabs and STC Pay.
The event space booking in Saudi Arabia is diverse, and there are different needs based on the
type of customer and the requirements of different events. When booking venues, corporate clients
look for venues that can accommodate large groups and support hybrid events in a professional
atmosphere. They need a fast and easy-to-navigate booking process to reduce the inefficiencies
related to traditional booking systems. Even though these clients have high budgets, they are strict
and thus require platforms that have transparent and competitive pricing with no hidden fees. It is for
these needs that it will have a web platform that has a simple search interface to allow users to filter
venues based on amenities, capacity and location. There will be AI-powered chatbots that will offer
instant responses.
Event planners’ and marketing agencies’ needs are tied to the variety of events they manage
and the services required for different events. They prefer platforms with diverse venue portfolios,
including outdoor spaces and untraditional locations. They look for venues with flexible rental
durations ranging from a few hours to the maximum time client’s request. Integrated services such as
security are a major requirement for most events, and all this should match competitive and
transparent pricing.
Social event organizers usually work with a tight budget and thus look for cost-effective
solutions. Venues that VenYou will list will have different price points to offer flexible payment
options for different clients. These types of customers prefer venues that offer personalized
experiences to custom occasions such as weddings with decorations. Even though chances are that
VenYou will be in the front line to look for venue owners instead of venue owners looking for the
platform, venue owners need a reliable platform that has a high booking rate to help them reach a
broader audience. The aim is to increase VenYou’s visibility and streamline the booking and venue
management process.
Marketing Strategy
16
MGT685_Simulation_EMBA
Product Strategy
VenYou platform is the product, in this case, which is a technology-driven platform designed
to enhance venue booking and event planning. Its value proposition revolves around efficiency,
convenience, and customization. The product strategy concentrates on core offerings, service
differentiation, and technological innovation.
Core Offerings
The platform will have a diverse venue listing featuring a wide range of event spaces such as
banquet halls, outdoor venues, conference halls, and luxury resorts to cater to the different needs of
different customer segments. There will also be hybrid and tech-enabled spaces with high-speed
connectivity and live-streaming capabilities to cater to hybrid and virtual events. The diverse
inventory is to make it a go-to platform for venue discovery and booking.
VenYou will also leverage artificial intelligence to help personalize venue recommendations
based on customers’ past booking behavior, budget, and preferences. Personalized venue suggestions
will depend on event type, guest count, and budget. There will also be filters to compare venues based
on the available amenities and service availability. Intelligent matching will minimize the time event
organizers spend searching for venues and improve customer satisfaction.
Additional services, such as event logistics and catering, will also be available through the
platform for the customers who need them all at once. VenYou will go beyond booking venues to
connect users with reliable event service providers, making the platform a one-stop shop for event
planning. Integrating these services will increase the business’s revenue potential while offering
convenience to users, making it a preferred choice for comprehensive event planning.
Service Differentiation
VenYou will differentiate its services from traditional venue booking by offering real-time
availability and instant booking. Other than relying on manual confirmations, VenYou providers will
offer real-time venue availability and immediate booking confirmation. Other than in traditional
booking, where prices are not disclosed to the public, at VenYou, customers can access pricing to
help them plan their event budget. The platform will allow clients to personalize venue setups, for
example, by having décor that matches their event needs.
Pricing Strategy
VenYou will use a pricing model that balances profitability, affordability, and market demand.
It will use the tiered and dynamic pricing approach.
Tiered Pricing Structure
The event space industry serves many customers, from high-net-worth individuals and
corporate clients to budget-conscious customers such as small businesses and freelancers. These
17
MGT685_Simulation_EMBA
customers have varying financial capabilities and preferences, and employing a tiered pricing
structure will accommodate all of them. First, premium pricing will target VIP clients, luxury brands,
and government agencies that require fully serviced event spaces. Such venues come with exclusive
locations, state-of-the-art amenities, and personalized services. Prime locations for these clients are
beachfront resorts, 5-star hotels, and luxury conference centers. For example, a private beachfront
resort in the Red Sea Project is suitable for government delegations and ultra-exclusive brand
launches.
The mid-range pricing will be for mid-sized corporations, SMEs, and event planners looking
for affordable, professional event spaces lacking high-end luxury features. These venues must be
functional and well-equipped to serve a broad audience and balance quality and cost. They should
also have flexible booking terms such as hourly, daily, or long-term rentals with competitive pricing.
Several business lounges in Riyadh are designed for networking events and professional workshops.
Budget pricing targets customers such as social event organizers, startups, freelancers, and
price-sensitive clients who want affordable but functional venues. Some venues are shared and coworking spaces suitable for pop-up events and casual meetings. Community centers and creative
studios are ideal for local business meetups and art exhibitions. Segmenting the venues with the three
pricing tiers will ensure venue accessibility across different customer groups and, at the same time,
maintain sustainable profitability.
Dynamic Pricing Adjustments
VenYou will employ dynamic pricing adjustments to encourage customers to book venues at
the most strategic times. First, there will be peak season pricing, where VenYou will implement a
high pricing model for premium venues during the peak seasons. The peak seasons, in this case, are
during the Hajj season, Ramadan, and major business expos. For example, during the Future
Investment Initiative (FII) Summit in Riyadh, demand for event spaces increased, and rental prices
increased due to increased demand from global business investors.
There will be last-minute discounts, where AI-dynamic pricing algorithms will adjust prices
for last-minute bookings to ensure no space goes underutilized. For example, suppose a high-capacity
event hall remains unbooked within six days of an event date. In that case, the system will
automatically reduce the price to attract last-minute planners, such as freelancers, who are looking
for the most affordable option. Doing so will increase the utilization rates of the venue and make
VenYou attractive to cost-conscious customers who book at the last minute.
Dynamic pricing will also have weekend vs. weekday pricing based on the demand. For
example, VenYou may opt to lower prices on weekdays, Sunday to Wednesday, to attract corporate
bookings and then hike the prices from Thursday to Saturday due to increased demand for weddings,
18
MGT685_Simulation_EMBA
entertainment events, and social gatherings. Doing so will ensure venue owners maximize revenue
potential and the event organizers get cost-efficient options based on their timing.
Promotion Strategy
The promotion strategy is to increase brand awareness to attract a diverse customer base and
establish it as a leading event space booking platform in Saudi Arabia. Due to the event industry’s
competitive nature, VenYou will use a multi-channel marketing approach that combines digital
marketing, public relations, strategic partnerships, and event-based promotions.
Digital Marketing & Social Media Campaigns
VenYou will use digital-first marketing to reach potential customers, as Saudi Arabia has a
high internet penetration rate and a strong social media presence. VenYou will invest in paid social
media campaigns on platforms such as X, Instagram, and TikTok, making it easy for event planners,
corporate executives, and entrepreneurs to engage with the content. For example, partnering with a
TikTok influencer to post a video walkthrough of a luxury event space booked via VenYou,
highlighting how it is easy to do the online booking and available deals, will make VenYou accessible
to a broad audience.
Public Relations
Building trust and credibility via strategic PR campaigns and industry recognition will play a
key role in promoting VenYou. Publishing press releases in top business outlets such as Arab News
and Saudi Gazette to announce platform expansion and new platforms will reach a broader audience.
VenYou may also host workshops at the major Saudi business forums and tech summits. For example,
business executives may speak at the LEAP Tech Conference in Riyadh to discuss how AI is
advancing the event space booking industry.
Referral & Loyalty Programs
Structured referral and loyalty incentives will encourage word-of-mouth marketing from
customers who have already booked spaces on the platform (Bifkovics et al., 2024). A user who refers
a friend will get a discount on their next booking. These programs will increase customer retention
and foster long-term engagement.
Place Strategy
The place strategy ensures seamless access to event spaces for the broad customer base.
VenYou is a technology-driven platform providing real-time venue availability and digital
transactions. To strengthen its market presence and attract corporate clients and venue owners,
VenYou will integrate multiple distribution channels to enhance customer convenience and service
efficiency. The primary distribution channel is the digital marketplace that customers can access via
mobile web, desktop, and dedicated mobile app. Target customers can access the platform through
19
MGT685_Simulation_EMBA
the dedicated VenYou mobile app powered by iOS and Android, which will offer instant venue
browsing, push notifications, and secure payments. The mobile app will be convenient for clients who
make the last-minute booking.
To build long-term relationships, VenYou will deploy a direct sales strategy to event planners,
government agencies, and corporate clients. These are the B2B sales where the corporate sales team
can directly negotiate exclusive multi-event contracts. Businesses that require frequent and largescale event spaces will get customized venue recommendations and bulk pricing deals. For example,
a Saudi Vision 2030 government initiative that requires recurring event spaces will get a tailored
corporate package through VenYou. The platform will be available for booking 24/7, and customers
can book from different locations.
.
20
MGT685_Simulation_EMBA
References
Borbon, N. M. (2022). Green practices of event management enterprises in Batangas City. Pulhin,
JCB, & Borbon, NMD (2021). Green practices of event management enterprises in Batangas
City. Asia-Pacific Journal of Innovation in Hospitality and Tourism, 10(2), 21-39.
Bifkovics, B., Malota, E., Faria, L. N., & Martinez, L. F. (2024). Customer-to-customer
communication: Referral of high and low-involvement products through stimulated word-ofmouth.
Journal
of
Promotion
Management, 30(2),
204-226.
Chang, Y. P., & Li, J. (2022). Seamless experience in the context of omnichannel shopping: scale
development and empirical validation. Journal of Retailing and Consumer Services, 64,
102800.
Madani, R. (2022). The new image of Saudi cultural shift; MDL Beast music festival; Saudi Vision
2030. Cogent
Arts
&
Humanities, 9(1),
2105511.
Mohammed, M. (2024). Economic Reforms and Consumption Trends: A Deep Dive into Saudi
Arabia’s Economic Evolution.
Rashid, K. H., & bin Ahsan, W. (2024). User Trust in E-Commerce through Product List Pages,
Detail Pages, Reviews, and Security Features.
Vural, C. A., Roso, V., Halldórsson, Á., Ståhle, G., & Yaruta, M. (2020). Can digitalization mitigate
barriers to intermodal transport? An exploratory study. Research in Transportation Business
& Management, 37, 100525.
21
EMBA Program – MGT685 Rubric
2022-2023_Business Administration Department
College of Administrative and Financial Sciences
Business Administration Department
Evaluation Sheet- Project- MGT685
SIMULATION
Student
Name
Supervisor Name
Student ID
Evaluator Name
CRN
Evaluation Date
Project
Title
Total Marks
/ 100
Page 1|5
EMBA Program – MGT685 Rubric
2022-2023_Business Administration Department
Weight
Items
Item Weight
Criteria/Section
Excellent
Contents
Business Concept
Market
Analysis and
Opportunity
Identification
20
✓
A clear and original business concept.
✓
The business idea is realistic for implementation
and is supported by the market research.
✓
The business idea demonstrates the potential
for commercial or social value creation.
Very
Good
Good
Poor
Very
Poor
(6.67)
(5.67)
(4.67)
(3.67)
(2.67)
Excellent
(10)
Very
Good
(8)
Good
(6)
Poor
(4)
Very
Poor
(2)
Feedback
Score
Score
Feedback
Contents
20
✓ Comprehensive and detailed analysis of the
target market which is supported by relevant data
and statistics.
✓ The competition and industry analysis are
conducted through employing various evaluation
tools.
Page 2|5
EMBA Program – MGT685 Rubric
2022-2023_Business Administration Department
Excellent
Very
Good
Good
Poor
Very
Poor
(7.5)
(6.5)
(5.5)
(4.5)
(3.5)
Excellent
Very
Good
Good
Poor
Very
Poor
(7.5)
(6.5)
(5.5)
(4.5)
(3.5)
Excellent
Very
Good
Good
Poor
Very
Poor
(7.5)
(6.5)
(5.5)
(4.5)
Score
Feedback
Score
Feedback
Score
Feedback
Contents
Financial
Analysis
15
✓
Detailed and realistic financial projections that
are well-supported and aligned with the business
idea and market analysis.
✓
Business model demonstrates how
company will make money or break even.
the
Contents
Operational
Analysis
15
✓
Thorough analysis of the operational
requirements of the business, including staffing,
resources, logistics, production, technology, and
other relevant factors.
✓
Demonstrates an understanding of the
operational challenges and opportunities of the
business.
Contents
Language and
Writing Quality
15
✓ Excellent language and writing quality that meets
(3.
5)
all requirements, including the proper use of the
provided template.
Page 3|5
EMBA Program – MGT685 Rubric
2022-2023_Business Administration Department
✓
Thorough and relevant sources are provided.
Sources are credible, reliable, and properly
cited in-text and end-text using APA format.
Contents
Excellent
(7.5)
Pitch-Deck
15
Very
Good
Good
(6.5)
(5.5)
Poor
(4.5)
Very
Poor
Score
Feedback
(3.5)
✓ The presentation was crisp yet comprehensive
covering all the essential elements of a typical
entrepreneur pitch-deck.
✓ The level to which the presenter presented the
material in a clear and structured manner,
demonstrated time management and was able to
handle the queries.
TOTAL GRADE
/100
Page 4|5
Purchase answer to see full
attachment
