I .Justification
The word event comes from the Latin eventus and means ‘’an extraordinary fact to a person or a community’’(Etymonline). Events have become very important in the corporate world; almost every company uses them frequently. It is important to understand how companies use them to approach different communities. If we talk about events in business communication, we could say their main objective is the delivery of a corporate message to the desired targets. This message is transmitted through actions ranging from traditional internal meetings to the spectacular incentive trips, flowing through conventions, product launches or the presence at trade fairs and shows, among others. These acts as a whole, make up a real tool of communication to transmit values related with the brand or product. As part of marketing, events enable a relationship between all parties.
The Internet and social media have a new style in the way events are created. Events have evolved with a great speed and scope. Both at individual or corporate level, we’re all global communicators; our need to design on correct communication strategies must now incorporate the internet. As scholar Manuel Castells states in, ‘’The Internet and the Web constitute the technological infrastructure of the global network society, and the understanding of their logic is a key field of research’’, (Castells, 2014). This claim also appeals to events. The internet and social media embody the main reason for change in engagement and interactivity for the events industry. It is very important to understand how companies connect with their stakeholders through this new media and therefore, the rest of the communities. An analysis of how certain companies do this will be explained in this paper. This paper will study how events have changed over the past ten years. We will be looking into two different companies, in two different industries, with different strategies.

To assume that events were the same ten years ago as today is wrong. Centuries ago, events were created by ordinary people, nevertheless, large-scale events today are organized by large institutions and have been a recent development of the modern world. Events emphasize a monumental activity in society, notably for companies, which have realized that events are essential to reach their targeted audiences, build brand image, and as a result of this, implicitly increase value of the company and drive revenues. Although events have been essential for society from far in history, they had never achieved the corporate importance they have now a days. The maximum capability to reach extraordinary audience numbers and the best comprehension of its effects over the public, allows corporations of all industries and sectors to appeal to them as key technique of marketing and communication. The purpose of this study is to analyze how events have changed in the past 10 years, using two companies from ultimately different industries as examples, to prove that event organization as a whole has significantly changed in similar aspects from 2006 to 2016, and we might find differences in the implementation of such. The internet and its different uses has been the principal detonator to this change. We will find that IBERDROLAS annual general meeting, and ARCO as the most important art fair in Spain, a fair being an event, have similarities and differences in this change. Events have severely evolved at a rapid pace, reaching the masses; however, events are still imperfect.

II. Review of Literature

1. Events: Definition and Objectives
An organizational event can be anything from a political party conference, recycling conference, to a pie-in-the-face event.

1.1 History & Examples
Events first commenced in the industrial revolution as trade and commerce came into action, as the celebration of many industrial achievements. The first commercial events were fairs during the Victorian period. Important examples of these were the Great Exhibition in London and Paris, in the 19th century (Hoyle, L. H, 2002). The London Exhibition, in 1851, was the first exhibition of manufactured products, machinery and fine arts. This was marked through the architecture of the Crystal Palace, acts characterized by Joseph Paxton. The internationalization of the exhibitions was shown by contributory attendees from countries all over the World, the US, Russia and Egypt, among others. This event was a wide nave of exposition of glass and metal, which the architect retrieved in a project for the exhibition in Paris in 1867. In 1855, France launched a series of universal exhibitions with a periodicity of 11 years implicitly imposed. The Universal Exhibition of 1855 brought together for the first time, industries and the Fine Arts. Metal pre-dominated the constructions of the pavilions to characterize these acts. The message of these exposures was first and foremost of political order, which at present would be a political event. The works exposed were all organized and paid for by the participating country, on the contrary, now a days would be organized and financed by public and private institutions, taking care of the representation of geographic areas, remaining the same today. The case of the street of the nations of the Exhibition of 1878, and the pavilions of Central and South America, are also to be highlighted in history. (http://www.napoleon.org/en/reading_room/articles/files/479453.asp)
The pretext of the universal exhibitions had do mainly do with commemorations and were already considered international in 1928, as acts were dedicated to the enhancement of the industries and to progress. Characteristics of these events were uniqueness, labor-intensive, rituals and ceremonies, personal interactions, and most importantly, intangible events. Already in the 19th century events summarized, categorized and evaluated a human experience by means such as handmade goods and natural products, as well as all the political implementations exposed to the society. Marketing today, is also about the human experience with the brands. Generally, exhibitions until the 20th century were about educating visitors scientifically and exposing the technological advances until the time. (Swift, Anthony) Entertainment then came as a central attribute of events and was a component of the event industry. Science and technology gradually spread to other parts of the World, including the United States and Australia, and many countries celebrated national identities and hassled for prestige by their exhibitions. We could apply this to the 21st century as companies and countries; still strive for recognition and prestige, essentially to stakeholders and the rest of society, through the impact of their events, attaining cultural achievements. We will see this example with the IBERDROLA case.
At this time, fairs were fairs of everything, smaller niches were born and technology arose. An urge for a change arose at the end of the 19th century. Business practicing and its communication to society influenced the change. As a result, marketing, communication, human resources, and other departments, emerged in large corporations (Wiley, 2002). Let’s note that this was first agreed in informal agreements and personal working level styles. The methodology of events began to standardize for its great demand and the professionalism and complexity of it, (Wiley, 2002) Although, Hoyle expresses that the motives for event demand are not easy to predict, and demand is hidden or latent, (Hoyle 2002), now a days, it is predictable through informal and quantitative methods. Demand forecasting of events can be predicted through data from test markets and sales which result after events occur (Milgate, Murray 2008).
I would like to take one of Wiley’s theories to explain the evolution of the event industry; changes in society and changes in business affect individual players and entrepreneurs, creating small event companies, managed by professionalism and competition, which result in event office holding risks and accountability, as well as knowledge management. The results are consolidated corporate events which flow into the integrated system and evolvement of the event industry (Wiley, 2002). As corporate event management is a rapid growing industry and has on one side as element marketing, accounting, law, and technology and project management. On the other side and most importantly, events must be fool of creative ideas, innovation, optimistic and charming to all parties. An effective system fosters the industry of events in the marketing departments following the corporate structure of responsibility and brand identity (Wiley, 2002). However, the effective system can be affected by external factors with result of an event which go beyond the organizer, for example power failures such as weather conditions, distributors late pays, traffic, natural disasters, and so on (Hoyle, L. H, 2002). Two trends are identified by Wiley in the modern corporate event industry; the first trend is the achievement of professionalism responding to external and internal forces (Wiley, 2002). The second trend is the convergence of public events and corporate events. William and Mitokilys cite the Olympics as one of this second kind, in their book. The second type of events is becoming more reliable on sponsorship and companies organizations (Wiley, 2002).

1.2 Events since the 20th century: A Comparative View
Firstly, it is well-accepted that the business environment is highly dynamic. Marketing is one of the fields whereby changes have been felt to a large extent. Crowther and Donlan (2011) argue that the paradigm shifts from transactional methods to relational orientation have created a suitable ground for the development of events in the marketing perspective. It follows that the expectations and the challenges concerning consumers in marketing have changed considerably (Grupio, 2013). It is observable that the consumer’s position has shifted greatly. Their expectations of the products and services have been heightened. Unlike conventional event organizers, modern counterparts have increasingly found it important to prove value for the return on the consumers’ investments (Grupio, 2013). In other words, the twentieth-century event organizers had lower expectations of the consumers and averagely used the events platform to necessitate normal sales or production of new products. Nevertheless, in the modern business world value and customer service has become more visible than in traditional event promotion (Crowther and Donlan, 2011).
Secondly, competition is another construct that differentiates the modern and conventional events. According to Mair and Whitford (2013), ten years ago, the business environment was less competitive. In fact, only a few firms were successfully operational. In that case, demand-pull approaches were widespread. Consumers participated in the firm’s events to get acquainted with new products and get a feel of how the products were. Arguably, the event organizers deployed less effort in the sale of products that faced fewer market rivals. Nevertheless, the picture is entirely different today. There is a wide variety of highly differentiated products across many sectors. In the light of overwhelming and often unfriendly rivalry in the modern markets (Hoyle, 2002), the logistics of events have become increasingly challenging. Innovation and sustainability approaches have become vital necessities (Hernández-Mogollón, Folgado-Fernández, and Duarte, 2014). The intense competition between firms has enabled event organizers to create unique packages in well-timed and superbly organized events so as to outperform those of rival firms.
Additionally, modern events have had more impact on the firm’s economic viability as well as on the brand image as compared to the twentieth-century events. In the modern day, business leaders have increasingly realized the importance of economic viability of events. Resultantly, they hold the events relatively more often due to their sales impact to the firm than before. Opportunistically, companies have taken advantage of the large audiences at the events to promote sales to a great extent (Gijsenberg, 2013). Hernández-Mogollón, Folgado-Fernández, and Duarte (2014) believe that events are ideal marketing tools to attract a large pool of consumers who can be engaged on an interactive basis. Aside from boosting the image of organizations, modern-day events have contributed towards many economic benefits such as identification of new buyers of products, increased sales at the events as well as fostering consumer relationships (Woisetschläger and Michaelis, 2013). Historical research events literature barely recognizes the importance of events on improving the brand image of companies or high levels of economic viability ten years ago (Gupta, 2003).
2. Types of Events
Events are classified in different categories and there are many types. As one type we find social events, mainly intended for the entertainment of the attendees, and for the purpose of a social cause.
Corporate events are completely focused on linking, encouraging, promoting, communicating, companies and their allies, stakeholders, employees, clients and the public in general. For its degree of complexity they require from the companies a major infrastructure, as much technical and human. This permits integrating all the audiovisual branches to make the message reach the attendees of the event. Examples of these are expositions and exhibitions, launch of products, press conferences, congresses, workshops and seminars, conventions, tradeshows and showrooms, foreign visitors, business end of year dinners, inaugurations, shareholders meetings, among many others.
A third type is sport events and political events which lay between corporate or public events. Public Events, also known as massive events, are in its grand majority, concerts, festivals, fairs, parades, competitions and cultural events.
There are other criteria’s on which to base the classification of events. Another criteria to classify events is based on the nature of the event. Primarily, corporate events are analyzed in two dimensions. There are voluntary corporate events whereby the shareholders or stakeholders have the option of attending (Fehrnstrom and Rich, 2009). Some of the voluntary corporate actions include road-shows, product launches, trade shows and network events to promote the sale of products, charity function to pursue corporate social responsibility issues. Press conferences are suitable when there is a need to manage the media on vital issues in the firm. Other voluntary events include customer appreciation parties, seminars, and corporate dinners among many others. Most of the voluntary events are meant for network purposes so that an organization gets acquainted with stakeholders including the consumers. They are informative and provide insights on the way forward of the firm concerning its products and services. In the past decade, the voluntary events have grown and type as integrated marketing tools ideal for providing cost-effective and efficient approaches to engaging consumers in fostering loyalty (Fehrnstrom and Rich, 2009). Moreover, it is important to note that voluntary corporate actions can be much frequent to suit the needs of an organization.
On the other hand, there are mandatory corporate events that a firm organizes to further its interests. Contrary to voluntary events, the stakeholders have no choice when it comes to their participation. According to Fehrnstrom and Rich (2009), mandatory meetings in an organization could be in the form of shareholders meetings held to contemplate on the firm’s performance. Some companies have the obligation by law to hold these meetings in form on event. In comparison to the voluntary corporate actions, mandatory events are quite rigid occurring in destined time spans. For instance, the shareholder meetings are held on a quarterly or annual basis, as we will then see in the case of IBERDROLA. Hernández-Mogollón, Folgado-Fernández, and Duarte (2014) argue that mandatory corporate events help support the marketing function via a platform that comprehensively gathers all the interest parties to an organization.
In a similar way, analyzing the historical event literature reveals that there have been changes in the types of events over time. Transformations have been felt more in the voluntary events than mandatory events. According to Casey (2011), the evolution of the meetings and events industry, especially in the past ten years, has brought about more variety and sophistication in the events. Even today most of colleges and universities are offering professional training on event management. It is evident that events such as customer appreciation parties and happy hours are some of the contemporary events in the business world. In the twentieth century organizations, few types of events were available majorly the mandatory events such as Annual General Meetings. Then, Casey (2011) argues that by 2002, global awareness of events and meetings within firms had started taking root. Since then, business leaders have been responsible for many innovative events to nurture relationships between firms and stakeholders. In fact, in large organizations, there are definite departmental sections within marketing that are tasked with event planning and handling. However, one need not to generalize that event planning is a task of a sole department. Kose, Argan, and Argan (2011) remind that sustainability in the event management in modern firms has taken a comprehensive approach. It means that events are embedded in various functions of the firm to uphold innovation, cost-saving and value creation among other factors.

3 .Event Marketing
Events are social programs staged by a firm to promote its products to the consumers. Close et al., (2006) argues that event marketing is a marketing tool that anchors on the experiences of consumers on a firm’s products while riding on consumption practices that are both rationally and emotionally driven. Close provide that in event marketing the functional values are replaced by “sensory, emotional, cognitive, behavioral and relational values” (Close et al., 2006). This characterizes marketing in the 21st century. Grupio (2013) is essential in event marketing. Reading along the same lines, Close provide that in marketing through events, communication entails the use of promotional activities that are interactive with the event participants. (Close et al.,2006). The aim is to communicate value in the consumption experience in addition to developing suitable relationships. Although the marketing function in an organization is wide, Casey (2011) underlines the essentiality of event marketing. Event marketing strongly supports other approaches of the marketing function in an organization. Casey (2011) considers an integrated marketing framework shown in the figure below.
Figure 1: Integrative marketing framework

Source: Casey (2011) pp 34.
In a comparative analysis, Gupta (2003) provides that the vibrancy of the event marketing has been felt in the recent times. Throughout the first decade of the current millennium event marketing lacked the vigor, commitment, and creativity that prevail in the present day business enterprises. In fact, Gupta (2003) shares in the view of Casey (2011) by arguing that in the onset of the new millennium, event marketing emerged as a promotional catalyst. Perceived by marketers as a modern marketing tool, event management has been refined over time and enabled today’s firms to cut through advertising clutter so as to reach the audience suitably. In the traditional perspective, events were mostly held in the rural settings (Gupta, 2003). It was by reason that in conventional societies, illiteracy rates were relatively high while media coverage was very low. Additionally, firms in the past century had advertisement constraints especially on liquor, cigarettes among other products. Since the products could not effectively reach consumers by advertisement, events were best positioned to carry out that purpose. However, today, evolution in event marketing spurs over a wide variety of products.

The target market of the event is the key for how the marketing will be implemented, and adds for companies and organizers know how we should target the people attending. According to Anton Shone and Bryan Parry ‘’Events compete for the money and time, against all kinds of other activities and attractions, from eating out to engaging sports and hobbies’’,(Anton Shone and Bryan Parry, 2013). The promoter is responsible for the advertising campaign and other campaigns in the communications and marketing departments. A component a plan must be presented with the inclusive usage of all types of media. This is a change we will see in the two company examples in the paper. Traditional media was used in the past such as TV, radio, newspaper, direct mail, and online advertising, but the internet has made virality and visibility a main factor. Cash spent in the shape of advertising as considered paid advertising, has made promoters think further to deciding in increasing the media buys along with trade advertising. Media outlets often use event tickets to build closer relationships with advertisers (Wells, 2009). Another campaign the promoter is responsible for is the promotional campaign.

3.1 IMC objectives
Schultz(1993) and Kitchen, et al (2004:6) are great examples who concerning the main objectives of IMC. IMC persuades customers with all available communication tools to directly affect consumer behavior. It is not just trying to affect their attitudes. This would make the job harder on marketers as they struggle for changing customer attitude, which is much harder than changing behaviors. In addition, Armstrong et al (2006:430) stated that IMC’s main objective is to form a strong brand identity, beside muscular customer relation hand in hand, in order to collectively develop the same message and reflect the same image. Another objective of IMC is to develop a better and reliable communication strategy that will have a positive impact on sales. Events are now directed to an increase in profit returns. In other cases the return could have a good reputation and more enriched networks of public relations. One more critical objective of IMC is to be automatically responding to the rapid changes in the marketplace with the appropriate communication tools on the right time and the right place.
IMC is growing enormously these days by innovating new effective communication tools according to the current changes in the fluctuating needs and wants of the market. This takes place by listing and discussing the various tools of IMC, an overview over the commonly used ones below. However, lets shed the light on one of the oldest tools of IMC; advertising. A definition of advertising is “any paid form of non-personal presentations of ideas, goods or services by an identified sponsor”, mentioned by Armstrong et al (2006). In Beckman and Gilsons work (1987), it was discussed that it was observed that advertising was the way of “informing, persuading, reminding and adding value to the product to become known by targeted segments among the marketplace’’ (Shimp,2003)
On the other hand, the objectives of advertising are concerned and divided into three different parts. According to Armstrong 2006, the first type is informative advertising, which can be referred to as ‘the advertisements used for newly invented products or appliances’. This is simply associated with all kinds of information transfered to the consumer. The second type is persuasive advertisement. Persuasive advertisement is considered to be a kind of a tool that is used in order to push needed information to customers. Finally, the third part is the reminder advertisement. This one keeps a continuous spotlight on the brands image to arise the differences between competitive brands.
When constructing an advertisement, companies should take good care of the messages that are to be sent through this medium. A reliable method should be used for a better effectiveness. Armstrong et al (2006) confirmed the advertising strategy starts by creating the desired advertising message that reflects the company’s objectives from messaging consumers. An effective selection for the type of media exploited should be taken out of the various media tools, and this is what happens with events. The rights channels must be chosen to send the different messages. These tools are divided generally into two main. The first type is above the line advertisements like Televisions, radios, newspapers, magazines, as mentioned above. Armstrong is another author who concords with this. These types of advertisements are highly reachable among consumers, moreover, they give the ability to provide sight or sound or both in an advertising form which adds credibility for promotions execution. Although, above the line advertisements are successful, the problem is that they are accompanied by high costs, besides the difficulty for targeting a certain segment. The below line advertising was made originally for improving the service level with the lowest cost. Examples of below the line tools are like direct mail and persuading through phone calls.
After an effective selection of the media tool used, a proper assortment for the message execution should be done. It was stated by Armstrong et al (2006) that the implemented advertising form has to be highly understandable message to be easily believed by consumers to encourage them for trial or reuse. Consequently, various types of executing have been initiated to provide the highest level of customer absorption. These types are mainly composed of musical, fantasy, lifestyle, slice of life and personality symbols to directly reflect the marketing message in a well observed fascinating manner.
3.2 Advertising and Promotion of Events
Before looking at the event advertisement and promotion, it is important to discuss the objectives. Gupta (2003) is of the view that an organization could either organize direct events that relate to the marketing function or indirect events. Direct events involve those attendees having outright marketing value to an organization such as the prevailing and potential clients to the firm. Contrarily, indirect events could include among others beauty contests and charitable events. As long as indirect events pass messages to the audience, it may not be direct. For instance, Gupta (2003) observes that cigarette and liquor manufacturing companies in the twentieth century funded horse races, cricket matches, car rallies and film premieres and cigarette companies in the attempt to legitimize their products. Such events are meant to argue the media and the general public that such products were available for sale.
Advertisement and promotion of the events have changed significantly. Ten years back, only mainstream media through print, radio and television were used to advertise the events. Such means were relatively costly to an organization. They also had geographical constraints as they could reach the rural populations. Today, reliance on the internet for advertisement has necessitated the spread of advertisement information across the globe. Internet use is relatively cheap and more convenient compared to traditional methods of advertising. For instance, Grupio (2013) argues that modern marketers have developed apps that support event advertisement and promotion. Another factor that has changed in the event marketing is the sponsorship. In the olden days, a firm was solely responsible for sponsoring events since they championed its interests. Nevertheless, multi-sponsor events have become popular where several firms come together to advertise an event that promotes their varied interests on a common front (Close et al., 2006). Still, evolution has necessitated advertisement and promotion of events in campuses, streets, and neighborhoods among other places.

Celebrity advertising is a fairly new concept in the event management. Firms’ in the twentieth century and before did not largely embrace the use celebrities to promote products in the events. Contemporary studies reveal evidence that celebrity endorsements in event marketing aids in message recall, makes consumers believe in the products and transforms attitudes toward the products (Gupta, 2013). Since studies show that celebrity endorsements are worthwhile, many leading firms have joined in the rush to sign contracts with various celebrities for use in retail merchandising events. It has become a global trend that is costing firms millions of currency to make the events more valuable and appealing. Modern business enterprises, unlike conventional counterparts, have been to benefit from celebrity endorsement since it is a worthwhile communication strategy that raised advertisement’s marginal value. For such a firm, its brand equity is strengthened by the association with a celebrity such as top-rated musician, actor or athlete who has a strong brand image.

3.3 Sponsorship
Going back to Wiley´s belief that events are becoming more reliable on sponsorship, we can verify this with other experts. Sport event sponsorship is the biggest type of sponsorship and one of the most effective marketing tool used for reaching target markets. The International Events Group (IEG) states that sports sponsorship accounts for more than 69% of the total money spent on sponsorship which highlights the importance of sports sponsorship. This investment leads to a great difference in the budget applied since it is much more costly than any other form sponsorship ( Roy and Cornwell, 2004). After realizing that sponsorship itself and its importance has significantly increased over the past few decades, there are still difficulties in differentiating the product due to the high mass media coverage. Events are a temporary contribution of an activity in any kind which could be planed or unplanned (Getz 1997). Kitchen identified that event sponsorship provides suitable atmospheres to enhance launching new products through the direct contact with the desired segment. Besides to this, some public relations and new opportunities for an internal event within the occasion made by the business in to persuade consumers by all means (Kotler, 2004).
The division of event sponsorship should be divided in three main categories. The first most important category is sport sponsorship, described as an important marketing communication tool that offers publicity among the massive audience by sponsoring a an event. (Bennet and Lanto 1999,thesis 2003). In other words sponsorship was quoted by (p2. Lantto, 2003)as “the consumer is exchanging money or product for the right to associate the name or product with a event” (p.15, Shank,1999). Furthermore, Brassington and Pettitt (2000) identified the general reasons behind the high demand for sport event sponsorship, now resulting from the spread of different kinds of sports and events all over the globe lovable to all kinds of people no matter the age or occupation.
We can illustrate it as as an over commercialized tool compared to other sponsorship techniques. Moreover sports sponsorship does not only consider targeting the market in a single country, but also considered to be globally marketed which results in breaking the barriers between countries enhances more chances for growing businesses to invest heavily in the rest of the world to offer a massive publicity for such tool. (Cheng and Stotlar, 2009)
We can see how effective sponsorship is. Its success depends on how well sponsored projects are selected in accordance with the desired strategic goal, its also important to detect “the effectiveness of sponsorship projects depends on how well the projects are selected and how well they integrated in the marketing communication mix.(Shimp,2000 , Duncan ,2002 , De Pelsmacker et .al 2004:102)so a clear identified goals is needed before joining the event to ensure better results but as we all know that its hard to alter the changes made by sponsorship which enables some expectations to arise, according to Bennett(1999) point of view that was stated in Lantto et al(2003:14) masters thesis as he is argues the absence of effective measurements for the outcomes from the sponsorship program which enhance the marketers to depend more on observable outcomes.
In order to observe the changes we have to measure all the elements for a successful sponsorship like awareness and attitude, according to Bennet (1999) theory that was stated in Lantto et al(2003:15)masters thesis as a technique of a three step method, starting by observing the current market dominance of the company in terms of image and awareness for the guests and keep an on going detection strategy to alter the difference in brand image on the long run, then analyze the information constructed and carry out a comparison to see the results. moreover discussed in the masters thesis of Lantto et al(2003:14) by Polonsky et al(1998)who states that the returns of sponsorship could be measurable by setting objectives then observe the current status of the company then start a super control on all other factors influencing a change for the company’s workforce, and finally observe the results , but its hard to control other factors like advertising and promotions in real .
Another evaluation method discussed by Meenaghans(1983) in Lantto et al(2003:15) masters thesis as it is important to have a current feedback at the event by the staff responsible for promoting the brand to monitor audience reactions toward the product and to try to collect as much information of customers perception toward the product.
There are different methods for measuring the effects of sponsorship. As it was written by Lantto et al(2003:14) in their masters thesis ,according to Meenaghan(1983),as he has his own methods that was also supported by Parker(1991), Bennett (1999), and Quester and Farrelly(1998).
• “Measuring the sales effectiveness of the sponsorship involvement”:
In some evaluation cases, they can measure the relationship between the expenditures on marketing and the results of sales.
• “Measuring the communications effectiveness of sponsorship involvement ”
Meenaghan’s method was stated in Lantto et al(2003:15) masters thesis as to measure communication effectiveness by using five basic methods like:” the measurement of awareness, the measurement of recall, attitude surveys, psychological measurements”(Meenaghan,1983).
Different ways were suggested to this point within the same masters thesis of Lantto et al(2003:14), as referred to Parker(1991) point of view ,as it is very essential to monitor the awareness of the sponsorship, as to conduct surveys that concerns the audience’s attitudes and brand image towards the event.
• “Measuring the media coverage resulting from sponsorship involvement ”
Measuring media coverage is a basic method of evaluating sponsorship effectiveness according to Meenaghan(1983) point of view as there are basic measures used to evaluate media coverage like the degree of press coverage as measured in columns and inches, furthermore, the duration of television coverage including visual and verbal credits.
• “Measuring the continuing appropriateness of the chosen sponsorship over time”
This method mainly involves the market perception of consumers, audience level and the media covered from such sponsorship campaigns.
• “Monitoring feedback ”
It includes evaluating the opinions of trade contacts, decision makers and business associates, as it is provided from the event’s audience to match with the objectives of the firm, so they can compare the effect of the work effort before and after the event.
• “Cost Benefit analysis”
When evaluating the effectiveness of sponsorship, sales is not an appropriate measure for company’s advancement, as fluctuating sales can rely on previous marketing techniques and effort, so it was illustrated by Lantto et al(2003:16) in his masters thesis according to Meenaghan (1983), that some of the involvements in sponsorship does not only focus on commercial goals , but they perceive the expenditure as an earned prestige for the firm, furthermore , proved by Quester & Farrelly (1998) regarding sales as an inaccurate measure for the company’s wellbeing.
• “Exposure-based methods ”
According to Cornwell and Maignan(1998) point of view that was mentioned by Lantto, et al(2003:16) masters thesis about how the based methods should include monitoring the nature of media coverage and the quantity of data obtained from the sponsored events, in addition, to indirect and direct audience estimation.
• “Tracking measures”.
Using tracking measures in the empirical investigations concluded that sponsorship effects differently & widely, but result in great positive improvements for some sponsors, But on the other hand it may result in negative effects for others.
• “Experiments ”
Referred to Pham (1991) point of view as it was mentioned by Lantto et al(2003:17) that experiments has a great importance in this method, as it is the only accurate measurement capable of evaluating the real true impact of sponsorship, On the other hand we have surveys which are incapable of determining the effect of advertising.
To get more involved with how sponsorship effectiveness could be measured, it was clarified by Tripodi(2001) according to Rossiter and Percy’s,(1997) theory, where they created a six step theory for measuring sponsorship effectiveness as stated in figure 1.5

1. Impact of Social Media and the Internet
Reactivity and pro-activity we have to consider in this impact of change. In the last decade internet has evolved dramatically creating an absolute change in the world as a whole, and leading it to be a small ball of information. A brief definition of e-communication is “using the internet, mobile phones, interactive television and other electronic media in marketing communication campaigns “, (kitchen et al,2004:110) transporting the marketing information to customers mind in an appropriate form to be understood. According to Armstrong et al (2004), E communication is considered to be the process of buying and selling of goods and services on the Internet in order to have an easy way for purchasing products and also it enables more negotiation with different types of customers whether they are business or normal consumers. So it is an easy way for both marketers and customers who will benefit from the variety of product selection while staying at home so it saves time and effort. However, it has some disadvantages by having high shipping costs for the products.
As mentioned by Kitchen et al (2004:112), in accordance to Brassington and Pettitt (2003) point of view, they state that internet facilitates the research for marketers and customer service among the segmented database, as it acts as a secondary data for determining suppliers and competitors. Also one of the main advantages of e-communication is saving much cost for parties, the buyer and the seller.
Technological advancements in the early twentieth century created the concept of online marketing. Firms trading before then did not have such infrastructure to champion their marketing interests. Nevertheless, early 2000 is a long time ago. The internet-based trading environment has changed so much. Hernández-Mogollón, Folgado-Fernández, and Duarte (2014) provide that event marketing before the digital era was inconvenient, costly and heavily constrained. Today, with the aid of social media tools and online ads, mobile based apps and websites, event marketing has become interesting, relatively cheap and convenient (Kesler, 2015). Contrary to firms in early 2000’s, today firms that emerged that purely help the business organize events with the help of the internet. In the era of digital marketing campaigns, marketers are creatively embedding the use of the internet to facilitate effective event management practices.
In a comparative analysis of firms before and during the internet age, communication is one construct that has improved. According to Neti (2011) communication in social media marketing has become fast, informative and far-reaching. A firm that needs to organize an event easily informs its millions of users on social media platforms such as Twitter, Facebook, YouTube, and Google Plus among others (Kesler, 2015). Consequently, the social media users share the message further informing other consumers. All in all, messages can reach the ends of the world in an almost costless, speedy and impact-delivering approach. In a similar way, contemporary marketers use their websites and add and mobile apps to effect communication spontaneously (Kesler, 2015). Still in communication, marketers and event organizers get the chance to assess the feedbacks on the event planning processes. The conventional organizations only relied on a narrow media base limiting their capabilities to reach consumers in an efficient, cheap and convenient way (Woisetschläger and Michaelis, 2013).
Rajan (2015) recognizes the uniqueness of the social media marketing in comparison to other via media marketing approaches. Event marketing via social media and the internet has brought about increased flexibility and innovation. Web-based event marketing strategies have potentialities of earning a firm competitive advantage in the face of increased inter-firm rivalry. Some of the social media-based activities before the event include engaging the audience to choose the venue, vital speakers, and celebrities among others. Marketers may create hashtags, an online register, and event QR codes or facilitate knowledge transmission through blogs (Rajan, 2015).
Further, during the event marketers facilitate online participation, sharing favorite pictures in the event, granting the chance to query guests and salespersons. After the event, photo albums are created, event podcasts set up and feedbacks on the event and product promotion given by the online community. It goes unopposed that conventional firms did not have such interactive capabilities in event marketing and thus greatly hampered the effectiveness of events. One should not generalize the firms in the past decade did not showcase creativity and innovation in the event management. Nevertheless, without such fun-filled, interactive and supportive social media, their event marketing feel short of being vibrant as today. Innovation in the social media event marketing entails using fewer resources for the great value. For instance, social media software tools such as Buffer and Hoot Suite helps keep track of postings before an event (Kesler, 2015). A lot other innovative products are available to make event marketing effortless.

2. New Tendecies
The field of event management continues to improve from time to time. The technological advancements as well as innovative capabilities within firms is spurring new developments in event marketing. Marketers and event managers strive to make use of increased internet connectivity to develop suitable programs to support event marketing (Kesler, 2015). The social media as well as other networks continue to dictate the event marketing landscape. The web-based event market can provide feedbacks that aid to develop future event engagements. The prevailing literature predicts that new software would be developed to support event marketing function. In the same vein, sustainable approaches in firms prompt innovations in planning and managing of events. Innovations would be responsible for new developments in event management to sustain consumer relationships (Mair and Whitford, 2013). Moreover, the future business continues to be competitive. In order to stay afloat, marketers would need to innovate to conform to the dynamic expectations of the consumers. Devising innovative programs necessitate identification of gaps in event management and formulating efforts to address them.

Figure 2: Event marketing influencers and Trends

The most active participation of the attendees, the virtual scope, the integration of the formats of communication, the establishment of thematic fouses and the stimulation of a playful component are aspects that will be taken more into account in the organization of events in the future.
The evolution of new technologies and the use of social networks in corporate communication are influencing the way how events are planned, implemented, executed and evaluated. Led lighting, video mapping, QR codes, apps, electronic business cards, new technologies in the service of the assessment of the ROI (return on investment) are just some of the developments which in recent years have helped the industry to organize more impressive acts in a more agile and effective way. But, beyond the application of new technologies, the trends that are emerging in the organization of events are many now, as supposed to what Wiley expressed in 2002, as we can see above in the paper. Event planners around the world do not cease to reflect on this in fairs such as EIBTM, held last November in Barcelona, or forums like MPI (International Professionals Meeting). In these meetings, it is expected that the future of event organization in the future will be contemplated, among others, in the following aspects:
In the decision on the format of the event, its program, also known as co-creation. No longer the event will lie exclusively in the organizer, but that the active participation of attendees in the planning process will become more and more important. In as much as social networks, and the rapid growth of usage of them and other mechanisms that allow to know the opinion of the public that will attend an event, be modular formats that are the best fit for the corporate expectations. (Benson, 2013)
Integration is another aspect to consider as an event majorly has meaning only when it is not converted into an end in them itself, but when it is part of the corporate communications plan and a long-term relationship establish with the far end members, these being anyone involved or affected by the event itself. In the communciations plan are integrated actions of advertising, public relations and direct marketing. A good use of integrated communication will allow acts to acquire more visibility and sustainability in the time, already critical now a days, (Searchdatamanagement).
Events must transmit a message and be a reflection of the values and the personality of the entity that organizes them. This is why classification by themes must be carried out in an act, putting in scene with a visual impact to acquire a key importance, since they are the elements that cause the first impression. But to establish a thematic axis, other the details must be taken care of. The election of space, colors of the scenery, textures of the decoration, the music and the catering, until the expected to be achieved. In this regard, annual celebrations or presentations of new products focus already on subjects of the most diverse.
Promotion of playful component. The application of gamification to events aims at ending with passivities of the public and ensure their participation through game. Presentations of more than half an hour in PowerPoint for example, can cause the hearing end loss of interest. This is why we should join practical workshops, activities do it yourself, participate in competitions and play role-games, to increase the attention and the motivation of the assistants. I apply this as it is key in events that the spokespeople are at the level of the publics expectations, just a little thing to note.

According to Hoyle (2002), outlining new trends in the event marketing function require a careful analysis of the trading environment. There is a need to focus on the future needs of the firm. By anticipating those needs, marketers find ways to address them. Event marketers should get involved with issues relating to emergency event planning, new forms of communication, health awareness, improved technology, security in events, as well as speedy responses to mitigate negative publicity associated with crises. For instance, the modern business environment is susceptible to insecurity and marketers need to embed safety issues to develop the market function. All in all, event marketers need to evaluate the immediate needs of the firm with concerns to environmental issues. Then, the event marketers identify ways to meet such needs through cutting-edge programs and social media tools.
Events have increasingly become important tools in the marketing functions of many organizations. From the existing literature, a comparative view provides that events have changed significantly over ten years. Over time, a variety of event management programs has been introduced to catch up by the changing expectations of stakeholders including consumers of the products and services. Voluntary events are those that stakeholders have the option to attend whole mandatory events require them to attend unconditionally. Some of the events in firms include trade shows, exhibitions, shareholders meetings, charity functions and corporate dinners among others. Additionally, the onset of the digital era has provided the internet infrastructure that has shaped the event marketing landscape. The social media and the internet have enabled cost effectiveness, convenience, and easiness in planning and holding events. Event marketers in conventional firms did not enjoy such privileges. The growing market base, competition and the need to improve the brand image are some of the motives for the growth of events. Lastly, event marketers need to carry out an environmental scan and streamline the environmental needs with those of the firm to develop innovative programs that support the event marketing function.

3. Measures to Growth of Events
One of the measurements is the decision of location which requires a previous research of the place, as critical to the planning of services and facilities. Data such as government departments and individual event organizers for the marketing promotion is clearly important to stakeholders in the events business.(Mullin, 2007). Information was normally limited or imcomplete, as events is not a homogenous industry, there is not a common formart for the verification of attendance. (page 20, Hoyle 2002) Although, this has changed until now * (How can we prove attendance-social media). Collected data used to rely on few sources
An analysis of the event must be done in order to verify the spenditure, visitor members, activity and participation, admission paid events, advertising effectiveness and result of satisfaction. The vast majority elements have no estimates on demand, income, expenditure or impact. Voluntary events have less realistic estimates. (Hoyle, 2002) The market scope and economic impact of events is explained by Hoyle ‘’ Market scope and economic impacts of events: Y. Complexity of events; individual (weddings), group(local agricultural shows, nottingill carnival), organizational (sales exhibitions-political party conferences), multi-organization(London motor fair), national(French grand prix, Deventer book market), international(berlin film festival,Olympic games). X axis uncertainty- low, high, all stated by Hoyle.

6.1 Motives to growth
Scholarly work has made attempts to shade lights on the growing concern to develop event marketing in the modern organizations. It is evident that population growth has increased significantly in the past decade. For the organization, it implies that the market base is growing year in year out. Getz (2004) believes that the rise in the consumer knowledge and expectations has considerably developed over the past ten years. Crowther and Donlan (2011) provide that consumers have continually demanded the skills of event managers within the business environment. The fundamentals of event management have evolved to suit the changing needs of the consumers. Since over time, marketers have realized how event have economic value event management, event managers have developed planning and holding of events. For instance, the modern day usage of the social media platform is meant to harness more value in the event marketing.
Still, the need to stay competitive has prompted marketers to stay innovative so as to earn competitive advantages in marketing through events. Rajan (2015) provides that events reinforce the sale of products and services for any organization. Then, as time elapses more firms join industries greatly diminishing the firm-based market share. Events are value-creation spaces that competitive firms excel through effective event marketing strategies. Sustainable event management (Hoyle, 2002) has emerged for enable firms to get a long-term perspective that creates competitiveness within the firm. Since many firms continue to hold events for sales promotions, the business community employs innovation to create new products to attract clients. Extant literature believes that event marketing continues to evolve in response to environmental changes. It is by reason that marketers are relying on feedback mechanism in the effort to improve the event marketing function.
Another motive that explains for the evolution of the event management is the building of the organization’s brand image. Gupta (2013) provides that the corporate and brand image are essential to the well-being of an organization. For the past decade, marketing through events have had not only positive impacts on corporate valuations but also the image. It follows that holding of the corporate events is an avenue to improve how the consumers and other stakeholders perceive the firm. Sustainable marketing looks at upholding the image of the firm to facilitate competitiveness. In addition to selling products of the firm during events, a firm gets a chance inform stakeholders of major breakthroughs. Many successful firms have used such platforms capitalize on the brand image. Besides, Kose, Argan, and Argan (2011) argue that efforts to improve the image have prompted senior management to integrate event marketing in many functions of an organization.

The answer to why events have grown to this extent and to this scale are wealth, travel, experience, corporate, brand image, reachable to masses, reinvention, cultural expansions, globalization, relationship with companies, personal achievements, joy, etc. ‘’Motives for participating in an evevmt- primary social-(status, relaxation), secondary motive learning-entertainment. Motives for attending; social-organizational-physiological (eg exercise/physical challenge, eat)-personal. There are events where the market isknown. Uniqueness- annually.’’, (Hoyle, 2002)

IV. Methodology
More details to understand the experiment come as the purpose is to compare how the following companies organize their events differently and have different objectives; Arco and Iberdrola.
Arco is an International Fair of Contemporary Art, sometimes referred to as commercial and ARCO Madrid. It is one of the main fairs of contemporary art in the international circuit. It is organized by Ifema in their showground of Madrid, Spain. Its first edition was held in 1982 under the direction of the gallery owner Juana de Aizpuru, which addressed the fair until 1986. Rosina Gómez-Baeza held the company from 1987 to 2006, Lourdes Fernández from 2006 to 2010, and Carlos Urroz from 2010 to present. Arco brings together a range of artistic that goes from the historical avant-garde movements, until the current and emerging art, going from the modern art to contemporary art. Arco has been characterized by supporting the development of the market of art in Spain and boosts the collections of both private, and institutional and corporate collectionism.(Arco Madrid, 2015).
Iberdrola is a multinational company with more than 150 years of existence. It is a corporate group with solid pillars on both sides of the Atlantic. Iberdrola today is the first national energy group due to a business model based on the long term, geographical diversification, an approach in regulated activities, a quality of its assets and, the efficiency and financial soundness. It produces and supplies electricity. The company`s service is clean, reliable and responsible mainly in the United Kingdom, United States, Mexico, Brazil and Spain, boosting its economic and social development. Since its inception, IBERDROLA has contributed to social development through the growth of your business and the creation of value for society and its clients and shareholders. The dedication of IBERDROLA to people also beats in the campaign Iberdrola art thou, which reflects how the company participates in making the day-to-day of their shareholders. (Iberdrola)
Both Arco and Iberdrola organize events regularly in their different natures. The analysis of this paper will focus just on the Annual Meeting of Iberdrola, and Arco as an art fair, in itself, a type of event as fairs are events. The decision to choose these two companies is because it is interesting to how an institutional and public event have aspects in common, and on the other side, differentialities. The objectives for each company are different. We consider it is important to compare these because their complexity is different. Whilst Arco has been present for 32 years, Iberdrola has been present for 150, and this of course, has been an influence in the way organization is made.
The activities that have converted IBERDROLA in the largest power company Union by market capitalization and one of the largest in the world, require, by their very nature, an intensive program of investment supported by the shareholders, who are called to participate in the General Meeting. Since its creation in 1901, IBERDROLA has been a private and independent company that has never had a shareholder or group of shareholders who, alone, holds a majority of the social capital or can control the decisions of the General Meeting. Therefore, the participation and involvement of the shareholders in the company, its support to the management and its commitment to corporate social responsibility are essential to the success of the business project of IBERDROLA.

At the end of 2005, IBERDROLA already had more than 300,000 shareholders, 38 % of whom were foreign institutional investors, examples of these; pension funds, investment funds and credit institutions. In the following ten years, the company has pursued a strategy of growth through investment, acquisition and integration of the business in the United Kingdom, the United States of America and Latin America that has converted lBERDROLA in one of the largest energy sector multinational, doubling the number of shareholders and raising to 63 % of the capital to the presence of foreign investors.
Given the large number of shareholders and their increasing geographical dispersion, IBERDROLA has developed a corporate governance system which includes a set of rules and procedures aimed at enhancing the participation of shareholders at the General Meeting. These internal rules, which have reached the most important international awards in the field of corporate governance, are complemented with the announcement of the meeting and the Guide of the shareholder that IBERDROLA publishes in its corporate website (www.iberdrola.com). This guide is in both Spanish and in English, to facilitate the participation when calling the General Meeting of Shareholders.

IBERDROLA shareholders may attend the General Meeting personally or by delegating the representation in favor of any person through the postal and electronic channels opened by the company. IBERDROLA also offers its shareholders the possibility to vote at distance, via post or electronic. In practice, the majority of the shareholders involved delegate their representation to avoid the displacement at the venue taking place.
By its history, its dimension and the importance of its activities, IBERDROLA is also the center of reference of other groups, such as workers, suppliers, customers among others. Adding to the shareholders, the economic and social environment in the territories where the companies of IBERDROLA Group develops its activities. Hence the care with which these groups and society as a whole manage all the information related to the holding of the General Meeting of Shareholders of IBERDROLA, the company is committed to the creation of sustainable value. Taking into account the interest groups related to its business activity and its institutional reality. Consequently, the president of the General Meeting of Shareholders is expressly empowered to invite managers, employees and others who have an interest in the smooth operation of the social affairs, as well as the communications media, financial analysts and any other person that is deemed convenient. (Arrieta Garramiola, 2016).

Some criteria used here will be the use of social media, the number of attendees and the presence of media communications in the companys events. Quantitative method is what will mainly be used here. According to Babie, ‘’Quantitative methods emphasize objective measurements and the statistical, mathematical, or numerical analysis of data collected through polls, questionnaires, and surveys, or by manipulating pre-existing statistical data using computational techniques. Quantitative research focuses on gathering numerical data and generalizing it across groups of people or to explain a particular phenomenon’’, (Babie, 2010). The method I am going to use is interviews will be, in order to collect direct data from the events.

V. Analysis
From the interviews we gather the following; Arco had 190,000 visitors in 2006, being on a constant rate until 2009, where the numbers dropped to 100,000 visitors in 2016. The number of visitants this year has been at its lowest since 1985. According to the Director, Carlos Urroz, a drop in visitant number does not mean that Arco is at worse. Carlos affirms that a smaller targeted group, is superior in value, to a greater number of attendees who don´t attend with the target purpose. On the other hand, Iberdrolas annual meeting in 2006 collected 45.238 present shareholders at the event and representatives for 55,42% of the social capital. From these attendees, 591 assisted personally to the annual shareholder meeting. A part from these, another grand number of visitors attended. In 2016, these figures have been multiplied. 169.005 shareholders attended and 77,91% representatives of the social capital, of which 1.319 attended personally to the reunion. Again, a number of invited attended, numbers of which are not clear, (Julián Martínez, 2015). Arco and Iberdrola find to have a large difference in the number of attendees, and this will affect the organization and objectives in each year of the events. IBERDROLAS annual meeting must be celebrated in Bilbao, as the registers office is there.

Arcos pre-preparation of the fair takes almost every year one year to organize. The preparation involves the preparation and installments of the physical galleries, the selection of the galleries and expositors which present, the countries which will be part in the fair, the media which will make news of it, celebrations, the set up of the venue, and so on. Besides, Iberdrolas preparation is completely different. The General Annual Meeting is a mandatory type of event, as explained previously in the paper. It is a reunion in accordance with the Law of Capital Companies, that all partners must celebrate to deliberate and decide on matters related to the annual accounts, social administration and management, and the implementation of results of the previous year, among other matters, within the first six months of each financial year. As mandatory event, as a binding act, a General Meeting is deliberate and freely takes the social arrangements in the field of its competence. In particular, the General Meeting of Shareholders of IBERDROLA has always supported, in bulk, the proposals submitted to the voting, among which all years includes the Management Board.
In addition to its legal and economic content, the General Meeting of Shareholders is a huge challenge for the company from the technological point of view, infrastructures, security and, of course, communication and image. The Secretariat of the Board of Directors of IBERDROLA has a team in template, with permanent dedication to assist the Board of Directors and in particular, for the preparation and development of the agreements of the General Meeting of Shareholders. This differs from the preparation Arco requires. Immediately after the conclusion obtained from each General Meeting of Shareholders, the results are discussed and set out for the objectives of the next year. Approximately nine months before the Board, a detailed planning of all the activities necessary for its conclusion begins. This includes the coordination of all the areas involved within the company and the coordination of the contracted suppliers for the event. All the preparations must be ready at least a month before its conclusion, coinciding with the publication of the notice of convocation. For example, the detailing of the place, date and hour of celebration of the General Meeting of Shareholders and the contents to be dealt with at the meeting. Whereas Arco is always existent in the same venue, IFEMA, IBERDROLA changes it location. In short, the preparation of the General Meeting of Shareholders of IBERDROLA requires detailed planning and a permanent coordination, which already existed in 2006.
The preparation of IBERDROLAS Annual Meeting remains similar in its organization but has also some differences in 2016. As indicated above, since 2006 the number of participant shareholders has doubled from 300,000 to 600,000, and has increased from 45.238 to 169.005 the number of shareholders who participate in the Annual General Meeting, with the consequent increase in the time devoted to the scrutiny of its actions and votes.
In addition to the internal team dedicated to the Board, since 2009, such activities are subject to an external verification of an audit firm to review the formation of the quorum of assistance, the scrutiny of the actions and the determination of the results of the votes. Finally, as a novelty of the General Meeting of Shareholders held in 2016, IBERDROLA has accredited compliance with the highest standards of sustainability provided at international level for the management of events, in accordance with the commitment undertaken in the sustainability policy of society. For this reason, the Basque Government, through its public company IHOBE, and AENOR have issued two certifications attesting that in the management of the General Meeting of Shareholders The Company has complied with the criteria relating to the environmental sustainability of events in the Basque Country and with the UNE-ISO 20121, management of sustainable events, respectively.
ARCO joined social networks as a means of promotion from the beginning, already in 2006. Facebook was one of the first ones to be used, since eight or nine years ago, and twitter and instagram accordingly to their existance. Social media occupies a very significant percentage to support ARCOs visibility. It is true that ARCOs target audience, this is, the public that buys art, is not a public user of the social networks in their majority Social networks only serve ARCO to give them an authority, but does not lead them to the final customer. In this sense, social media does help them a lot and are dedicated a lot of energy and money. ARCO has community managers, an agency, a person inhouse which deals, but it is not their main way of promotion. Mouth to mouth is its main strategy of promotion. ARCOs promotion also relies on influencers, art collectors, on people who recommend to other art collectors to come go to ARCO. However, if we just focus on social networks, the most used are Instagram, Facebook and Twitter.
IBERDROLA disseminates the development of the General Meeting of Shareholders from 2011 through social networks, being the first company of the IBEX in taking this initiative. Intriguing to find out it was the first one to adopt social media. The networks most used by IBERDROLA at present are Twitter, Facebook, Youtube and Instagram. Similarly to ARCO, who just doesn´t mention Youtube. In 2016, the dissemination of the contents of the General Meeting through specific channels and selective for IBERDROLA shareholders as On Line shareholders (OLA), or the App Relation with Investors, reserving the networks mentioned above for general information have been prioritized.
Sponsorship not applicable in any of the events. (fit it somewhere in the text)
The most effective communication channels to reach the audience for the objective, again, for ARCO was the word of mouth. There is other very specific media, such as newsletters, which are directed to the community of contemporary art, electronic, also important for ARCO. Anyhow, the word of mouth from galleries to collectors and collectors to the galleries, is said to be the most effective channel, (Carlos Urroz, 2015). Newspapers fit into the traditional media used by ARCO. They have an agreement with all the major newspapers and they have a very strong campaign that brings visitors 15 days before the show, but visitors, not buyers. The Director of ARCO states, ‘’Our great challenge is to find visitors buyers, to be people who can buy contemporary art, and we have that prospecting abroad on everything and going to places where there are collectors to encourage them to come’’. , Carlos Urroz. We can that this has been a change in everything until now. Expressly, 2006 was a very expansionary time. Spain was in a time of boom, there were hundreds of institutions buying art and hundreds of companies investing in art. The crisis of 2009 caused the disappearance of all public investment and all companies cut their expenditure in this type of events. ‘’Instead of making a national policy, we went out to the alien to search for all those people that you should come to ARCO. It is completely different, from 2006 to 2009 is one thing, to 2011, and to 2016 is another completely different thing’’, Carlos Urroz. However, the media did play a greater role in the promotion of ARCO. To begin with, when there were no social networks, its supposed that the press was important. To have an article in the country, have an article in THNewspaper, come out in the NYT, that was very important. Now the communication is from person to person and there is no such means so important that in the fund are easier to get that to all the people. (Periodistas acreditados)
For Iberdrola, this changes. Although the General Meeting of Shareholders is a private act which directly concerns the shareholders of the company, IBERDROLA is aware of its institutional dimension and of the interest in the celebration of the event in the economic and social environment. Therefore, it has always provided its coverage by all the media, respecting in all cases the principles of transparency, immediacy, equality and symmetry in the dissemination of the information provided for in the legislation of the securities market. In order to allow the tracking of the General Meeting by those shareholders who cannot personally attend the meeting, or who prefer to delegate their representation, IBERDROLA retransmits the live event through the corporate website, which also permits its follow-up by other interest groups and the media, without the need to go to the General Board. That is why each time is less than the number of accredited journalists who went to cover the event, as we shall see below. It is very interesting here to note, in 2006, around 100 accredited journalists attended the event, and in 2016, just 45. I guess this is a contradiction to how now a days more and more media are present in events.

*Below, we can see a figure of correlation between the number of visitants, number of accredited journalists between ARCO and IBERDROLA. TO DO

The relationship between shareholders and the company is one of the most important matters to touch, and as we can see, events create proximity in its relationship. ARCO had impasses in 2010 with a huge crisis and was on the verge of disappearing. Due to the economic crisis and because of an internal crisis, but of course the relationship is much better now, (Carlos Urroz, 2016). The empathy and the relationship with the partners, with the customers, with the people who go to ARCO, is much better now than in 2010. ARCO mainly as no shareholders, it is not a corporate event, ARCO is a public event, where anyone can buy a ticket and attend. It of course has a social and cultural impact, with a ROI of almost 35,000,000 Euros. ARCO has an enormous impact, not only for society, because it creates a moment of visibility to the world of contemporary art, and has a great impact because it is the most important event in the country to the date of today of contemporary art. It is however similar to 2006, in what now has to be put a lot of effort is in whichever is greater abroad and that the appreciation of arc abroad is very good.
The General Meeting of Shareholders of IBERDROLA has evolved to be framed just within the day of the Shareholder, out coming in a better relationship with its shareholders. This is a day which, in addition to the General Board, includes other activities to which the shareholders can receive firsthand the reality of business, corporate and institutional framework of the society through the direct testimony of those responsible for the management and to improve understanding of the social and cultural environment in which IBERDROLA develops its activities. For example, on the day of the shareholder in 2016, prior to the start of the General Meeting of Shareholders, attendees were able to participate in a forum of business, which presents some of the most spectacular Projects of IBERDROLA in the world, such as the offshore wind farm of Wikinger (one of the largest worldwide installed in deep water), the line of Maine (which connects Canada with the United States of America), projects of networks of Scottish Power, IBERDROLA in Mexico or the operation of Avangrid. It also offered the possibility of visiting an offshore wind park thanks to the virtual reality technology and to discuss with representatives of the company on the digital transformation, IBERDROLA’s commitment to innovation and toward where are the new trends in the use of technologies such as mobile phone or social networks.
This paragraph will explain the changes in the public relations strategies of both companies over the years, from 2006 to 2016. To focus more international and abroad is one of ARCO strategies. To gear more to the public of potential buyers, for example, it is not important that any person attends, if potential buyers don´t go, as the target, and create a whole series of network abroad that can help ARCO bring the public and to build less perhaps. In the conventional advertising, more at events, on events that they do in different cities, presentations, and so on, less could be done by the institution. WRITE ABOUT ARCO APP
IBERDROLA is aware that the outcome of each General Meeting depends on the management of the company and its relationship with the shareholders, not only on the occasion of this event but during the 365 days of the year. In this line, the corporate governance system of the company has evolved to not only promote the participation and continuous information of the shareholders, but their involvement in the company, with the purpose of sharing their suggestions and initiatives. Therefore, IBERDROLA offers its shareholders the permanent care service of the Office of the Shareholder, through a free phone number and an email address, and instruments such as the pioneer interactive system wave (On-line shareholders) and the App Relationship with Investors, that were implemented in 2013.
Improvements to be seen in the next 5 years.
‘’Our goal is not to bring more people, if not bring more potential collectors, and in that sense I think that we are going to invest more in the mouth to mouth, to have a series of speakers on different countries, influencers if you want to call so that they speak well of ARC, which tell us, watch these are the people who can come’’, Carlos Urroz. ARCO will focus more on the people who come to ARCO as best ambassadors, the people who can speak greatly about the fair, with the outcome of bringing more customers, more collectors, more gallery owners, in other words, the target audience of ARCO. ‘’We are going to segment more our target audience toward people who really going to buy at the fair or you can buy at the fair’’, (Carlos Urroz, 2015).
Taking into account the economic and social impact of its activities, the General Meeting of Shareholders of IBERDROLA is also an occasion to share with other interest groups other than the shareholders and with society as a whole, the projects carried out by the company and its results, as has been done in the week IBERDROLA organized this year in Bilbao on the occasion of the General Meeting of Shareholders. From an organizational point of view, IBERDROLA will continue to build on the digitization of the General Meeting of Shareholders to optimize their management processes.
So, we can see that whilst ARCO will invest more in its internationalization and word of mouth, IBERDROLAs priority to build on the digitalization of their annual event.
Here below is more information obtained from IBERDROLAS interview. Please use and research the similar information for ARCO! Thank you
Marketing strategies used to reach the shareholders and the public target? As has helped the internet to access them?
IBERDROLA has abolished all restrictions which might hinder the participation in the General Meeting of Shareholders, such as the requirement of a minimum of 100 shares to attend the Board (abolished in 2006) and the admission of the representation only when it confers in favor of another shareholder (abolished in 2007), and stood at the forefront of corporate governance.
In addition, in 2007 IBERDROLA gave a decisive impetus to the promotion of the participation in the Board through the payment of a Premium economic for each action it vote from a distance or attend the meeting, present or represented by any person.
Since that year, all shareholders who participate in the General Meeting enjoy this benefit and the quorum has never been lower than 77 % of the capital, one of the highest in the IBEX.

In 2016 has been made a promotional campaign to promote the electronic participation in the Board, by drawing tablets Digital between the shareholders to vote or delegated by electronic means.

-In what aspects has the organization of the Board changed from 2006 to 2016?
One of the aspects that most have changed in the organization of the General Meeting of Shareholders in the last ten years is its digitalization.

To give an example, in the 2006 General Board participated by electronic means about 100 shareholders, and in 2016 had over 5,000. Only then could participate by electronic means those who have a recognized electronic signature of the National Mint and Stamp Factory installed on your computer, and now can also do shareholders holding electronic DNI or personal keys that offers its shareholders precisely with the aim of promoting the electronic participation in the Board from any device, including tablets and telephones with internet access.

The digitalization has also resulted in the transformation of the systems used for the computation of all the shares present and represented and of their voting instructions, which involve the processing of more than 200,000 documents, all of which are registered and verified by computer systems.

These measures have led to automate the processes of management of the General Meeting and achieve significant savings of time and resources, thanks to the investment made in the development, programming and upgrading the computer systems.

-If there has been any crisis of communication in Iberdrola, as has been presented to the media and social networks?
[The success of the business project of IBERDROLA has allowed revalidate, year after year, the confidence of the General Meeting of Shareholders in the results and in the social management submitted by the Council of Administration, which have always had a massive support of the shareholders.]

VI. Conclusion

Change all the references needed to APA style please!
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sábado 17/02/2007¿Feria o supermercado del arte?». El Mundo. 16 de febrero de 2007.