Professional Documents
Culture Documents
AT
Live Wire Media Private Limited
Chennai
A Project Report Submitted to
Bharathiar University
Chennai
IN PARTIAL FULFILLMENT OF THE REQUIREMENTS
FOR THE AWARD OF THE DEGREE IN
BACHELORS OF BUSINESS ADMINISTRATION
SUBMITTED
BY
_________________________________
_______________________________
2014-2016
DECLARATION
I the undersigned solemnly declare that the report of the summer training work entitled
study on _____________________________________________ is based on my work carried
out
during
the
course
of
________________________________
my
,
study
under
the
supervision
of
_____________________________________&
ACKNOWLEDGEMENT
I am extremely grateful to Principal Dr. Y. Philomena and the Department of M.B.A for giving
me the opportunity of learning through this research project. It has been an excellent and
rewarding experience, and has immensely increased my knowledge.
I wish to express my sincere gratitude and appreciation to my project guide and mentor,
Ms.____________________, Head of Department, Department of Business Administration, for
her support, guidance and encouragement.
I would also like to extend special thanks to my family and friends who have been a constant
source of support and encouragement. Without them, this project would not have been
materialized.
_______________________
(Signature of the student)
DATE:
CONTENTS
CHAPTERS
CHAPTER-I
TOPICS
INTRODUCTION
Research Methodology
CHAPTER-II
CONCEPTUAL FRAMEWORK
CHAPTER-III
CHAPTER-IV
CHAPTER-V
Abstract
As per clause (34), event management means any service provided in relation to planning,
promotion, organizing or presentation of any arts, entertainment, business, sports or any other
event and includes any consultation provided in this regard
The current condition of the event management companies in the city is not very well they are
waiting for the response of the people so that in future they can encash it. In fact right now the
role of event management companies is being played by either the hotels or the amusement parks
or the community centers. In many cases newspapers work in collaboration with private parties
to organize some event.
The findings of the project clearly states that the future of event management is very bright in the
city although presently its in nascent stage but the people of Chennai have started accepting such
events in the main line. Some such events are like theme based marriages and Ladies Sangeet
in the marriages. Along with this the growing gathering in the fashion shows and musical
concerts is also remarkable.
Right now the condition of event management in Chennai is not very good. The response of
people has not been that good that it can attract any event management Companies here as a full
fledged service provider, it will take some time to pick up nicely. Currently the main target
segment of these partial or complete service providers are the defense class people or the high
class people have accepted these concepts much widely then any other community.
It is expected that event management industry will gear up in Chennai in near future. The
concept needs to be popularized, by proper media coverage. The existing companies should
mould their service according to the taste and preference of the people.
The scope of event management companies in Chennai is not very good. As per our findings and
the calculations the results are not very encouraging at present. But the projections help us to
draw a conclusion that there is a scope for event management companies in near future.
Chapter I
Introduction
Event marketing is growing at a rate of three times that of traditional
advertising. Though relatively small compared to the major components of
the marketing communications mix-advertising, sales promotions and P-O-P
communications-expenditures on event sponsorship are increasing.
Corporate sponsorships in India in 2001 were estimated at $3.9 billion-with
65% of this total going to sports events and most of the remainder spent on
sponsoring entertainment tours or festival and fairs. Thousands of companies
invest in some form of event sponsorship. Defined, event marketing is a form
of brand promotion that ties a brand to a meaningful athletic, entertainment,
cultural, social or other type of high-interest public activity. Event marketing
is distinct from advertising, sales promotion, point-of-purchase
merchandising, or public relations, but it generally incorporates elements
from all of these promotional tools. Event promotions have an opportunity to
achieve success because, unlike other forms of marketing communications,
events reach people when they are receptive to marketing messages and
capture people in a relaxed atmosphere.
Event marketing is growing rapidly because it provides companies
alternatives to the cluttered mass media, an ability to segment on a local or
regional basis, and opportunities for reaching narrow lifestyle groups whose
consumption behavior can be linked with the local event. MasterCard
invested an estimated $25 million in sponsoring the nine-city World Cup
soccer championship in the United States in 1994 and will likely sponsor
other big events in many countries as well.
Olympics and its renowned five rings are the worlds most effective
property in terms of marketing tools. The Olympics sell sponsorship on a
local and global basis, and every couple of years corporations line up to pay
as much as $50 million to be the lord of the rings. The Atlanta games in
1996 have a reported $3 billion in the bank as a result of negotiating
sponsorship, broadcast, and licensee fees.
The Olympics represents the crme de la crme of event marketing and
corporate sponsorship. Event marketing is a lucrative game of whats in a
name, as consumers purchase tickets and expose themselves to everything.
The world of event marketing is a fast growing, high profile industry worth
over $20 billion annually, and one of the most successful marketing
strategies.
Event marketing integrates the corporate sponsorship of an event with a
whole range of marketing elements such as advertising, sales promotion,
and public relations. Corporations both large and small have grown this
industry at a rate of 17 percent per year, and they have achieved a high
level of success.
Secondary Objective
The secondary objective of the research is to find the image of the Companies & how the
Companies is working for entertainment source among the customers.
To study the present industry trends and analyze the potential of event management
industry.
Identifying potential market for launching new product and increasing clientage of the
Companies.
Study the size of the events in terms of budget and the gathering.
Biggest event.
Research Methodology:
The main objective of my study is to find the main strategies, policies used & various sales
promotional activities of Event industry in Chennai sector.
The methodology followed for the research:
Primary research detailed discussions with event management firms and the corporate clients.
Subsequent additions were made to the interview schedule to suit the specific events under study.
The secondary information was gathered from various marketing journals and books on event
marketing, sales promotions and publicity. Daily newspaper reading in order to keep track of
various kinds of events also proved helpful.
The information gathered was studied and analyzed. It reveled certain issues in event marketing
which need further attention and some suggestions have been given to make the Event Marketing
industry more effective in order to utilize its full potential and be mutually beneficial for the
Event Marketing agency, the Corporate and the customer
Primary Sources
The methodology followed for the research:
Primary research detailed discussions with event management firms and the corporate clients.
Subsequent additions were made to the interview schedule to suit the specific events under study.
Secondary Sources
The Secondary data are those, which have already been collected and being processed through
the statistical process.
The secondary information was gathered from various marketing journals and books on event
marketing, sales promotions and publicity. Daily newspaper reading in order to keep track of
various kinds of events also proved helpful.
The findings of the study are based on the assumption that the respondents divulged
correct information.
Bias and unwillingness of certain respondents to answering some questions may hinder
the study.
The study is time bound, due to rapid changes in the market, expectation level of
consumers, introduction of new concepts.
Chapter II
Review of Literature
Events are occurrence designed for marketing interests.
Philip Kotler
Event management generally means conceptualizing, meticulous planning, organizing and finally
executing an event.
It is a set plan involving networking of a multimedia package, thereby achieving the clients
objectives and justifying their needs for associating with events.
Events can bring community together for purpose of fundraising, change a town or citys image,
expand its trade, stimulate its economy, help companies to market and introduce its product and
also for the entertainment of society.
Not only do events enhance the quality of our life, they can provide significant economic
benefits. Events require a high degree of planning, a range of skills, a lot of energy and funds.
Co-operation
Event Management in India is in nascent condition till date it has achieved only a stature of
sector. Still its treated as a part of entertainment industry. The size of this sector was mere Rs.
580 Cr in financial year 2003. The future of this sector is very bright and its expected that it will
grow with a growth rate of 15% to 25% and will touch the turnover of Rs. 1400 Cr in year 2008.
The industry is highly concentrated, the top four players occupies as much as 95% of market
share. The top four players are big MNCs, any Indian player has not achieved such size and
proficiency. The top four players are: -
Corporate Events
Conferences
Corporate Celebrations
Glamour Events
Celebrity Appearance
Fashion Shows
Brand Events
Promotion and management of Brands
Televised Events
Events specially created for television channels
Sports Events
Focused around a sporting event
Hybrid Events
Mixture of two or more of the above
Others
Talent Banks
High Profile Weddings, Dance Parties
in mind physical design are finalized and contractors begin work. Here fire, safety and insurance
issues need to be taken care of. The coordinator, sales and marketing team then think about
production of advertising promotions, brochures, posters, etc.
Logistics is another important area that needs to be given priority attention by event
coordinators. Logistics in events essentially involves booking of hotels, air, road, and rail
transport for the participants and event managers, arranging transportations of material.
A joint team of the concept creator and the main contractors then need to check out the specialeffects equipments and arrangements. At this time day-by-day tracking of timing and finance
with a feedback on possible changes i.e. increase or decrease in expenditure on various items.
Finalization of cleaning, security, furniture (tables, seating, barricading etc.), dcor (flowers),
communication (telephone), and other service hire contracts (couriers) also take up the
production managers time at this stage. The project manager handles the progress report and
gets contingency plans drawn up. The overall coordinator has to continue in touch with the client
with reference to the PR, publicity, press releases, and promotion on TV, and radio along with the
public relations team. Arranging for a press conference for the clients, and artists, giving out
invitations, passes and tickets to the event, organizing the reception for the press with uniforms
for the hospitality hostesses/hosts or staff at the reception is also a major responsibility for the
PR team in the preparatory stages leading up to the event. Damage control due to artists
tantrums is yet another aspect typical of this field that the PR team needs to contend with. These
have to be tolerated and controlled to avoid any adverse fallout.
Final visit for quality checks and control need to be made to the networking components to
ensure and confirm understanding. These typically include inspection of dimensions of stage and
other critical near finished models for accuracy by the production manager.
The overall coordinator along with the other team members needs to then arrange for a briefing
of site supervising staff depending on category and type of event. It is essential that the entire
briefing and interaction take place before the event begins. Once the event gets started the clients
and the contractors staff need to be kept away from interfering with the execution by the
production manager and the event coordinators. Controlling the panic reactions due to invariable
last minute troubles and final tying up of all loose ends is a very important penultimate task.
The last stage in the first section involves resolution of on-site wrangles of delivery, permission,
missing orders or items, close attention to construction of sets--asking whether it was done
correctly, supervision of installation of special effects, objects.
During-Event Activities
During the event, softer aspects come into the focus. For overall coordinator, it is
important to pass on all credit to supervisors. Event managers should look humble and be
available to the clients to call on. The conceptualisers efforts should be appreciated at least
during the event. At the same time, there should be a constant surveillances of the specially
effects, display objects and the food and beverages. Thus monitoring is the gist of the duringevent execution activity that is involved. Photographs and other multimedia recording
arrangements if so desired also need to be taken from strategic locations.
Post-Event Activities
Beginning with the physical task of dismantling of the sets, post-event activity also run
into accounting and other such works. Final accounts setting (bills to be paid on receipt) is
accompanied by explanations for overspends. The team needs to carry out a postmortem analysis
on the event and conduct an event evaluation. Recording the photographs taken of the event in
the form of a photo-documentary helps a lot. Performance evaluation of the coordinators during
the event should be carried out immediately so that weak points after the event can be used for
learning. Finally, the overall coordinator should do the formality of thanking all involved for the
wholehearted and extra efforts provided. Letters should go out to clients thanking them and these
should include a post-event questionnaire seeking to measure client satisfaction. Based on this
feedback, improvements and adjustments required should be worked upon.
This theory states that the function of management can be classified into planning, organizing,
staffing, leading and controlling.
Finally, the most important part of Event Management is the execution of the Event as planned.
We term this activity as Carrying-out the Event. Therefore, when we use Event Management, it is
to denote the production of an Event.
Staging an event takes more than a wish or dream. Preparation is the key to a successful event.
Event Planning
The first and foremost thing to do while planning an event is to know about the client's
expectations. When a client first approaches you for assigning a task, sit with him and find out
what he wants and how he wants it. Keep in mind the fact that the client has a very hazy idea of
what he wants. He expects you to change that hazy idea into a reality. So you first need to strike
a good rapport with him. Once you know his expectations you can start giving your inputs. Since
you are a professional event planner he is bound to believe that you have a better knowledge
about these things and will respect your judgment.
Key Factors in Planning an Event
Check the feasibility
Is the event a good idea
Are we in the right community
Who would be the spectators
About the venue
About the media of advertising
Fund stream
Timing
Full time should be devoted to implementation of plans. Make sure your event does not clash
with other events.
The Organizing Committee
It should comprise of experts in the following streams:
Financial
Determine the sources of revenue
Expected level of expenditure
Time gap of expenditure and revenue
Establish a system of financial accounting and control
Marketing
To attract best possible audiences
Get sponsorship and best support possible
Operational
Guide overall operation of event
Managing the technologies require
Legal
Make appropriate contracts involved in managing an event
Handle lawsuits that may arise
Public Relations Teams
Facilities offered
Programs
Awards
Transport
Catering
Safety and Security
Entertainment
Anchoring and announcement
Music and Sound system
Licensing
Publicity
Promotion
From its origins in event planning, the event marketing industry has seen great growth in the last
five years and has consistently been one of the most effective tools that marketing professionals
have at their disposal in terms of making a tangible connection to current and potential
customers. The increasing competitive pressures brought on by globalization are forcing business
professionals to find new ways to engage customers. Not surprisingly, savvy event marketing
professionals are therefore focusing the majority of their efforts and budgetary spend on lead
generation tactics such as trade shows. While it is important to garner leads, marketing and
specifically event marketing professionals cannot lose sight of the fact that the sales cycle only
begins at lead generation and that current and prospective customers must also be nurtured even
beyond purchase. Companies can benefit tremendously from the deeper event marketing touch
points that promote nurturing such as proprietary conferences that provide a controlled
environment for delivering messages and closing business. The nurturing process will allow the
customers to more effectively be funneled into the subsequent stages of the sales cycle thus
creating greater opportunities to develop into repeat customers.
EVENT MARKETING
An event is a live multimedia package with a preconceived concept, customized or modified to
achieve the clients objective of reaching out and suitably influencing the sharply defined,
specially gathered target audience by providing a complete sensual experience and an avenue for
two-way interaction.
CREATES
Desired
Impact
from the client
Right
Communication
WITH
Live
Audience
LIVE INTERACTION
REACH
audience and liaison with the creative conceptualizes to create an event for a prefect mesh with
the brands personality.
The meteoric history of event marketing is based in sports marketing. In fact, music and arts
represents a combined 35 percent of event spending as compared 45 percent for sports-related
events. Event marketing also continues to thrive as traditional advertising rate skyrocket and,
really, fail to provide any guarantee of reaching a targeted audience. Event marketing provides a
cost-effective approach to making a more hard-hitting, emotional, and tangible pitch to
consumers. It also gives companies the opportunity to cross-promote (promote with other
companies that have related products or services), offer sample products (give-always), and build
strong relationship with various channels of distribution, such as retail outlets.
Charities go out of their way to meet both their own fund-raising needs and the profit
requirements of the firms they team up with. It is a commercial relationship and the entire better
for it. Charities need funds, and the businesses need promotions, which show their worth in
extra profit.
WHY EVENTS
1. Brand Building
Enormous nos. of brand/product are launched every month. Similarly innumerable new music
albums, films, etc get released periodically. This tends to create clutter of product launches. The
large no. of launches also leads to need to overcome the ooh-yet-another-product syndrome.
The need to therefore catch the attention of the target audience at the time of launch becomes
very important. Meticulously planned events for the launch of a product/brand seldom fail to
catch the attention of the target audience.
Presentation of brand description to highlight the added features of product/services
Sometimes technological changes pave the way for manufactures or service providers to
augment their products. To convey this via traditional modes of communication to the existing
and potential customer base may sometimes be futile. Special service camps of exhibitions are
the perfect events that provide the opportunity for a two way interaction and error free
communication. For Example, IMTEX, the Industrial Machine Tools Exhibition, is an event used
by most machine tool manufactures to explain and highlight the new and improved features of
their product.
Helping in rejuvenating brands during the different stages of product life cycle
The massive amount of money that is spent during the introduction stage of products gets
drastically reduced over time. By the time the product reaches its maturity/decline stage, the need
for cutting down the budgets associated with the media campaigns, while at the same time
maintaining the customer base is felt. And events offer the best medium for such a focused
approach. It helps in generating feelings of brand loyalty in the products end user by treating
them as royally as possible.
Events help in repositioning exercises to be carried out successfully. In other words, events can
be designed to assist in changing beliefs about firms/products/services.
Associating the brand personality of clients with the personality of target market
Citibank is an elite bank where people do banking with pride. Hence, other premium brands
would like to associate themselves with the same audience so as to benefit from the rub-off
effect. An exhibition-cum-sale event organized exclusively for Citibank credit card holders,
small merchandisers get to do business with the Citibank customers, as well as build and
maintain a premium image for themselves. Here Citibank acts as the event organizer and small
merchandisers acts as participants so that they can associate the personality of their products
with the personality of Citibank customers.
Creating and maintaining brand identity
Australia-based Fosters Brewing Groups Asian subsidiary in its plan to launch its bear brand
Fosters Lager in India choose the game of cricket in which the Aussies are known as the best
team in the world. By becoming the official sponsors of Australian cricket team on its India tour,
Fosters hoped to achieve its goal of brand identity building and positioning itself at the premium
end of the market.
Rennie Solomito, Marketing Manager for Coors Light (Beer Company) explains that in order to
increase awareness and personality of the brand, Coors Light tries to find the distinguishing
look of the leader in each market. Coors Light select events that are fast paced and young
minded, for example, Coors Light Silver Bullet Concert Series featuring artists like Bryan
Adams and Celin Dion.
2. Image Building
Over and above the brand identity that a company encourages, events such as The Great Escape
conceived by Mahindra and Mahindra, exclusively for the owners of their four wheelers, the
Armada, are an attempt to build a specific image of not only the corporate, but also the product,
to let owners experience the thrill of four wheel driving, M&M charts out an off beat route that
emphasizes the difference between normal and four wheel driving, and lets the participant
experience the high, one feels when steering and navigating an Armada.
Coke is associated with Olympics since 1928, the rationale behind this is similar values and
ideologies: International peace, brotherhood, standard of excellence and fun.
Even though some events do get congested with too many advertisements, events still provide
and effective means of being spotted. For example, Title sponsorship of a major event provides
the sponsor immense benefit since the sponsors name is mentioned along with the event like
Hero Cup, Femina Miss India, Lux Zee Cine Awards.
Events generally provide an opportunity for buyers and sellers to interact. They also provide a
foundation for exchange and sharing of knowledge between professionals. Example: Bang!
Linux2000, Auto Expo.
Unparalleled footwear company NIKE ensures that it sponsors those events which will give it a
chance to create an emotional tie with the participants through onsite brand usage and product
presentation.
Events bring the target audience together, thereby creating opportunity for test marketing of
products for authentic feedback. The seller can identify exactly the traits and other characteristics
that are desired. For example, marketing events that the Frito-Lay Company used before it
launched its WOW! brand of potato chips.
In an event the audience is more or less bound to witnessing one particular event. In such a
situation it is very favorable for sellers to put forth their presentations without any diversions.
Such a situation is very valuable given the ineffectiveness of traditional modes of communication
in holding on to the attention of the audience.
For example, Burger King wanted to reach a young demographic in the New York area, EMG
(Event Marketing Company) helped them to create a 30-concert series at the New York
Palladium. Burger King received onsite signage and distribution of bounce back coupons.
Events can be conceptualized to increase customer traffic. They can be customized to make
available, concepts ranging from retail store specific events to mega events like one day
international cricket tournament. For example, Nescafe 3-in-1 treasure hunt, co-sponsored by
McDonalds is a combined effect in increasing the customer traffic as well as increasing the
awareness among the upper class of the existence of new McDs outlets.
Enabling sales promotion
Weekly events conducted by Crossword Bookstore helps in generating more revenue during the
weekends as compared to the revenue generated in the weekdays.
Help in relation building and PR activities
Practitioners of this marketing function believe that event marketing campaigns have the ability
to create long lasting relationships with closely targeted market segments. Relationship building
is not restricted to end user customers but also targeted at enhancing new distributors and sales
representative relations.
For example: Moksh organized by Ys Events & UX Events, is an annual technological festival
held by NSCIT (Dwarka) has helped the sponsors in establishing their relationship with the
Institute and ensuring that an image of being interested is created and nurtured.
Coke is sponsoring the Olympic since 1928. As coke does business in over 200 countries, the
Olympics give the company the opportunity to identify its product with the foremost special
event in the world.
Motivating the sales team
The need for interaction is not restricted to external customers only and end consumers are not
always the focus of live media exercises. This is especially popular amongst pharmaceutical and
other FMCG companies. For Example, during the cricket world cup held in England HSBC
introduced a unique pattern of motivating the sales force by awarding them runs instead of the
traditional points system. This resulted in conversion of almost all of its employees into sales
person.
Most events let firms install and exclusive boot and give the permission to exploit the
opportunity to merchandise. Events such as the annual limited period discount sales from
Wrangler and Van Heusen are authentic stock clearance and seconds sales aimed at generating
immediate sales.
An event can be designed to generate instant publicity upon the implementation of marketing
strategy. The e-commerce start up Half.com, which wanted to sell products such as CDs, Books,
Movies and Games over the internet was up against major and strong competition. The result of
this publicity stunt started the ball rolling towards getting this company purchased by eBay for
more than $300 million.
By keeping track of the reach and its effectiveness as well as interacting with the audience that
actually turns up for the event, event sponsors can assimilate and authentic database. The
database can be used to track various marketing trends. Events can then help in maintaining and
updating the database.
because of which events are gaining importance over them. Some of the advantages are detailed
below:
1. Events have the ability to bring together sharply defined participants since the capacity
for a particular event is usually limited. A specific no. of the target audience could be
invited of enticed to buy tickets for a show especially created for a particular profile of
the target audience.
2. Since the audience is actively targeted, the option of control reach can be exercised and
ideal audience for narrow-casting of information can be gathered. This leads to lowering
of the media networking budgets and focused communication with the specially gathered
audience. The audience that has been specially invited invariably is an ideal audience.
3. An event carried out professionally and cleanly is invariably a memorable experience.
The word-of-mouth publicity that this generates is an advantage that lingers on a long
time after the event is actually been carried out. This provides an advantage of higher
brand recall to the client.
4. The involvement of all the senses in experiencing the event is one of the greatest
advantages that events can offer. Events can be designed such that the audience is
actively involved in every part of the event and made to feel good. Thus, events as a live
media offer a certain amount of immediacy to the experience of being there while its
happening. For the audience, it is undoubtedly a thrilling situation.
5. Live media also enables interactive communication. Live media scores over conventional
advertising in terms of reach, impact and tangible immediacy of measurement. Live
media communication is a complete sensual experience as compared to a press
advertisement or TV/Radio commercial. This is so because of press ad is basically a flat
piece of paper and a commercial is just an audiovisual experience. The high recall value
of live media communication is also a major factor.
6. No other media can boast of the ability to provide such massive collection of feed back
instantly as events. Being a live media, it is possible to feel and deduce the reactions of
the audience to the aim or objective that the event was conceived for.
7. Easily customizable nature of events, mean that specific traits of the local inhabitants can
be incorporated in the big picture to ensure that the event is socially and culturally in tune
with the local culture. Thus, the localization of events is very easy.
8. The advantage in terms of post-event publicity that events can offer over and above the
paid or bartered media is the benefit associated with reports of the event in the newspaper
and news on the electronic media. For such reports there is no extra cost to be borne
neither by the sponsor nor by the event organizer. This is a double edged sword because,
in case the event is not up to the mark or is dogged y controversies, then the same is also
reported impartially.
9. The conversion of good events into television software for future use either by the
sponsors for their commercials or by media house for programming is also a unique
benefit that events offer. Such software become products by themselves and can be used
profitability in the future.
Fashion Shows
Musical Concerts
Dandiya Raas
Nightlife parties
Concerts & shows
Fest & live shows
Event Management can be classified on the basis of service provided, into two categories:
Complete: It covers all the aspects from conceptualization to execution till client satisfaction
feedback.
Partial: They provide partial services like a combination of few for example lights and catering
or music, venue and celebrities.
Event Management is still at a personal level. There is no full- fledged event Management
Company working in the city, but below mentioned organizations are acting as partial or
complete service providers.
Chapter III
Industry Profile &Company Profile
India is emerging as a global leader in global economic stability perspective.
It is an opportune time to be in India. New age technologies are transforming
music, movies and events in an amazing way. From EDM concerts to cutting
edge animation technologies coming up and catching the more of eye balls,
India is re-imagining experiences and redefining perceptions. As India grows,
the opportunity will grow for every facet of the Indian entertainment and
culture showcase industry.
The event industry has evolved over the years and has grown considerably
both in size and stature. The proliferation of TV channels and newspapers
mean that advertisers have begun to opt for experiential marketing (event
management) instead. According to a recent report published by Price
Waterhouse and Coopers, the live entertainment segment alone is poised to
grow at 20 per cent in the coming years.
The key facets of event management industry included: Cultural events,
sports events, entertainment events, wedding cum celebration events &
brand activation events.
The Prime challenges of Event Industry:
1. The multiplicity and varying of direct & indirect taxes: These
affect the industry profitability curve a lot. Increase in service taxes is
one such scenario which if leading to cut-throat competition in the
event industry.
2. Legal Boundation: A lot of hurdles in the form of rules, for which
organizers need to get permissions from the concerned multiple
authorities is another challenges for the industry.
3. Skilled Manpower Pool: The skilled human capital is also lacking in
Indian context or is not enough to meet the needs of this sector. This
needs to be improved through learning programs.
4. Sponsorships: As the industry is still sponsor led, obtaining the same
is a major challenge. For non-metro cities, this challenge broadens
further as the HOs of major brands are remotely located and the
response turnaround time is too long.
5. Lack of supporting infrastructures: Absence of proper event
venues, technology service providers, air transport network etc makes
conducting large scale events a bit tough.
The events and activations industry has grown at 15% annually from INR
2,800 crore in 2011-12 to INR 4,258 crore in 2014-15 according to an EY
EEMA (Event and Entertainment Management Association) report titled
Making experiences in India: The events and activations industry. The
report, released today, states that while managed events remain the largest
service offering, IP (Intellectual Property) and digital events are growing at a
faster rate than managed events. The key strengths of the industry remains
its ability to get things done, and the ideation and efficiency with which it
operates. That said, there is a need for the industry to work on acquiring the
right talent, managing costs, demonstrating ROI to marketers and increasing
transparency in operations.
Ashish Pherwani, Partner and Media & Entertainment Advisory
Leader, EY India says, The events and activations industry holds great
potential and this is evident from the considerable growth that the industry
witnessed over the last few years. Our report aims to provide insights around
key strengths of the industry and the challenges it faces. The report also
looks into the opportunities for M&A transactions, implications around
taxation and corporate governance.
Sabbas Joseph, President, Event and Entertainment Management
Association says, With a new government at the helm, there is a growing
interest in the culture and people. The events and activations industry is best
poised to capitalize on this opportunity and there is a crying need for a new
world order - one in which event companies work along with government to
create an events calendar that drives tourism and related industries.
According to the report, the events and activations industry is expected to
grow to INR 5,779 crores by 2016-17. This growth will be on the back of
marketers increasing their below the line (including digital) spends to 21% of
their total marketing spends. The growth will also be led by personal events,
MICE (meetings, incentives, conferences and exhibitions), activations and
sports.
Non-metro markets are expected to increase in importance as marketers look
to tier II and tier III cities for incremental growth, states the report. Digital
events and activation is also expected to grow significantly on the back of
smart phone penetration, internet availability and the cost efficiency of such
campaigns for marketers.
While the industry has reported very few M&A transactions over the last few
years, there exists scope for consolidation. Valuations are driven by IPs
owned, advertising agencies interest in activations, and digital events and
sports leagues. On the taxation front, double taxation, taxation across
multiple states, and varying and inconsistent application of different taxes
are some of the challenges faced by the industry. Also, the introduction of
Goods and Services tax could have a significant impact on the industry in
terms of rates and implementation across multi-state activities.
The report also states that the introduction of the new Companies Act, 2013,
will result in some key changes in internal financial controls, compliance with
more than 60 acts and regulations, and implementing a vigil mechanism to
identify undesirable activities.
EY also conducted a workshop with CEOs of the industry that resulted in
Vision 20:20 for the industrys future success. The industry needs to work
towards the following initiatives:
Company Profile
Livewire media Chennai's leading Event management and Entertainment
Company was established in March 2006, with the inventiveness of providing
the best of services in the entertainment and media industry.
background where he hails from, making sure that people have a good time is inbuilt in him.
Naturally soft spoken and well-mannered, he lives up to his title; The Gentle Giant! His excellent
public relation has earned him the credit of Livewire being one of the leading Event
Management companies in Chennai for which the clientele of the firm is the solid proof. In short,
he's got every quality in every aspect of being best suited to be the Captain of the ship!
Livewire understands that 'event management' is a specialized industry and is fully aware of the
growing globe and thus it lives up to the potential required. Livewire's knowledge, expertise and
industry affiliation creates an exceedingly effective event management service offering an
advantage that is truly a testament to our name.
We provide end to end solutions through our quality event management and entertainment and
our solutions are based on solid methodical planning, a formula that livewire has mastered and
applied to numerous projects, regardless of size, priority or duration. We devise project
framework influenced by client objectives and their needs and also a budget that will produce
quality outcome. Our orderly creative approach to all our projects always ensures a consistent
successful result.
Services
We can supervise diverse corporate events, such as product launches, press conferences,
corporate anniversary parties, meetings, conferences, and marketing programs such as road
shows and grand opening events. In addition, we can coordinate special corporate hospitality
events such as concerts, award ceremonies, film premieres, parties, to launch new products or
services, fashion shows, commercial events, and even private (personal) events such as weddings
and religious services. Event management firms can handle a variety of specific event-related
services, which can range from a few select services for clients with limited budgets, to handling
all creative, technical and logistical aspects of an event.
Corporate Events
Launches & Fund Raisers
Theme Parties & Adventure Sports
Special Events
Concept Marketing
Artist Intouch
Wedding Planners
Meeting Planning
Special Events
Corporate Sponsorships
Destination Management
Posters, Direct Mailings, Banners, Billboards - All are necessary to generate Interest and
Enthusiasm.
Ground Transportation
Entertainment
Corporate Anniversaries
the details like sound, staging, lighting, pyrotechnics, managing roadles - and/or rowdies!
Livewire is uniquely connected to match the right entertainers with your corporate event or
sponsorship.
Perhaps you need a leading business speaker or a sports figure, jugglers, mimes, dancers and
acting troupes. Perhaps a celebrity appearance! Livewire will find them where and when you
want them.
Singers
Copy writing
Bollywood Celebrities
Bollywood Performers
Bollywood Anchors
Stand-up Comedians
Fusion Band
Item Performers
Dance Troupes
Chapter IV
Data Analysis & Interpretation
Which of the following events do you attend?
Interpretation
From above diagram we conclude that every event has its own segment & wedding is the biggest
segment people do attend this event time to time since marriages are on regular basis. Other
events have their own taste & preferred by peoples.
Where,
a = Product/service you have heard but not checked out yet
b = Product/service you have never heard of
c = Product/service you already use
Interpretation
If people had a positive experience, about the event 88% are more likely to buy a product just
when they were aware of it. Surprisingly, 78% are more likely to enter into the buying process
even if its a new product
Interpretation
Over all the age groups it was observed that if the product/service is of interest to the attendees
they are more likely to participate in an event. The next best reason for participation across all
age groups is the activity which the attendees enjoy.
Interpretation
68% of the total respondents spend approximately 15 mins. on a mobile event and every less
people spend over 30 mins.
Which of the following is true? After leaving the mobile event I understood the
company/product
Interpretation
Mobile events which demonstrate product features are more likely to generate better
understanding about a company or its product..
Interpretation
Most of people said event management as a business/profession will be a success in the city.
Since it has potential.
Chapter V
Findings, Suggestions & Conclusion
Findings:
Based on the prior trend the expected number of events in future are approximately 105,
out of which the probability to provide services ( partial and complete both) is 56% the
figure comes around to be 60 events per annum. The projections regarding the profile of
customers are as follows:
The majority of customers will belong to same classes professionals and business class.
The service class will still remain ignorant to it. Looking at the trend of emerging
professional educational institutes, the event management companies are very optimistic.
60% of the respondents said that the major problem in the progress of the industry is lack
of awareness and 40% said that getting sponsors for the event is the biggest problem.
The profile of events that takes place is still not the utility based like product launch and
corporate meetings its still mainly entertainment based only, it occupies 65% of the share
of total events.
Still event management companies have left one of the major aspect of post event
communication which includes the media coverage and the client satisfaction surveys.
That is the reason the companies are not able to perform better. This also hinders the
brand building exercise of these companies.
Looking at the local preferences, the companies are not paying due attention to facilities
like catering.
The majority of the customers are attending events like marriages, live shows and trade
fares only. Events like product launch and utility events form a very small segment.
The most preferred price range is Rs. 250-500 and the mean value is Rs. 422 as per our
findings.
A very less number of people prefer hiring event management companies, the number is
as low as 11%, but one can see that the partial outsourcing is preferred by 58% people.
The samples biggest constituent are professionals(43%) and the business class(28%)
people even then the biggest reason for the hindrance of event management companies
progress is over priced services (28%).
39% of the sample size gives more importance to overall arrangement rather than other
individual facilities, but still people go for partial services (58%) it reveals that the
complete services are expensive for the localites.
87% of the sample size feels that the event management industry will flourish in the near
future.
Therefore we can say that though the public is ready to accept the concept, but due to
reasons like higher expenses, poor availability and reliability of existing players, the
picture is not very rosy.
But as the awareness level of public will increase the growth of industry is bound to
happen. Partial outsourcing is popular as well as acceptable, to a greater extent, therefore
it can be hoped that event management companies as a full fledged service provider will
emerge.
Event Marketing companies were also targeted and their response was also taken which
added value to my thesis.
Lets have a look at what people feel about Event Marketing.
When people were asked what they feel about a particular company which promotes its
product/service through Event Marketing 82% of the respondents replied that it gives a
positive impression about the company and establishes the quality of their
product/service.
When people were asked about the reasons for which they have participated 53% replied
that the event appeared amusing which was followed by reasons like a powerful brand or
eye catching signs & banners.
Suggestions/Recommendations:
Companies need to focus on some particular kind of events that they will organize,
this will help them gain proficiency in their field, ultimately leading to cost saving.
People should be made aware about the concept through proper media coverage
telling them about the successful events and the benefits.
People should be made aware about the fact that hiring an event management
company would help them save time, efforts and cost.
Rather then looking at the press people as their competitor they must join hand with
them to share the cost and benefits also. Press people can get better exposure and
provide the companies advertisements on a lesser cost.
Due to innovative marketing tools the traditional marketing tools are redundant so
Chennais business class must also know that its time to switch over to the new tools
like trade fares and road shows rather then press advertising.
The charges for complete services should be reduced. As an example for catering
services the general market price is around Rs.75 per plate, but generally companies
are charging around Rs.140 per plate. Similarly the other services charges must also
be reduced up to a viable extent.
Conclusion
Low awareness among the people.
Conservative mentality doesnt allow people to accept major changes.
Lack of proper marketing and advertising by existing companies.
Proper security measures not available.
Performance of existing companies is doubtful, that is the reason, localities that organize
events, hire event management companies from Chennai, Mumbai and Chennai.
Cost factor influences people to take partial services from event management companies.
Due to poor response and lack of cooperation from public the companies are not
interested in expansion.
Economies of scale not available to companies, therefore big players are not interested to
enter this city.
Service Portfolio of companies is very wide for the city.
Annexure
Age
Gender
Occupation
2. Assuming you had a positive experience, would you be more or less inclined to purchase a
product or service after having participated in an event?
a) Product/service you have heard but not checked out yet
More likely
Less likely
More likely
Less likely
More likely
Less likely
5. Which of the following is true? After leaving the mobile event I understood the
company/product
better
same
less
Less flexible
Age
Gender
Position
11. What is the number of events organized in the city per month by you (Ys, Ux & R2S)
a) 1-3
b) 3-5
c) 5-10
d) More than 10
e)
12. Profile of customers of event management companies
a) Business man
b) Service class
c) Professional
d) Educational institutes
Bibliography
www.eventmanagement.in
www.yahoo.com
www.scribd.com
www.juliasilvers.com/embok.htm
& other sites
Search engine of Google
Magazines such as Events in India, Advertising & Marketing.
Reports in newspaper etc