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A study on event management

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  1. Introduction
  2. Opportunities in event management
  3. Threats in event management
  4. Role of advertising agencies in event management
  5. Factors affecting the choice of event management firms and advertising agencies
  6. Process of organizing an entertainment show
    1. Skills required for a sponsor
  7. Revenue model for event management firms
  8. Absence of client loyalty
    1. Reasons for the absence of client loyalty
  9. Effectiveness of events
  10. Failure of event management firms
  11. Strategies for a new comer
  12. Qualities of an event manager
  13. Qualities of an event management firm
  14. Diversification strategies
  15. Marketing strategies
  16. Bringing event management into limelight
  17. Future of event management
  18. Conclusion
  19. Bibliography

Michael J Wolf, in his book "The Entertainment Economy" says, "Entertainment not autos, steel or financial services is fast becoming the engine of growth of the new economy". Digitalization, broadband and internet make this among the fastest growing businesses worldwide.

Entertainment Industry is comprised of smaller business areas like films, music, television and events to name a few. Each one of these sub-units is big enough to match any other Industry in the world, whatever be the criteria. The amount of money being circulated in any of these areas is huge enough to provide all of them a separate industry status. The impulse and response created among general public is overwhelming, which could not be achieved by any other industry anywhere in the world. The common man considers film stars and singers as idols or role models. The high rate of growth of Entertainment Industry is a clear indicator of the immense involvement of the common man in this industry. We have now reached a stage where man cannot even think of a world without entertainment.

Event Management can be considered as a baby among the various sub units of Entertainment Industry. Still, it is the most daring and risky business among the lot.

[...] This will create a feeling among clients that the firm is worth doing business with Proper Vision Event Management firms should also possess a proper vision on where they want to be after a particular point of time and how they want to reach there. They should be very clear on what they are doing. Otherwise, they will end up making a mess out of whatever they do Daring Event Management firms should also possess the daringness to venture into unexplored areas and try out new ideas. [...]

[...] Marketing Strategy of Advertising Agencies with separate Event Management wing Advertising agencies, which run a separate Event Management wing mainly focus on their clients in advertising. The advantage they have, in such cases is that, they know their clients very well. There is no need to find extra time to build a relationship with them. Even the clients who prefer to assign their events to specialist Event Management firms would like to consider the views of their advertisement agency also. [...]

[...] But it is observed that majority of these companies prefer to assign their events to specialist Event Management firms Professionalism from each side: Though this remains to be a fact, it also depends on the professionalism and capability each side develops in this field. This provide a ray of hope for the advertising agencies that have set up their Event Management wing. If they can match the professionalism and talent of specialist counterparts, bigger chances are with them. But, this is easier said than done. [...]

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