Wiki Definition:
Event Management is
the application of project management to the
creation and development of festivals, events and conferences.
Wikipedia defines an 'event' as any type of a gathering,
ceremony, competition, convention, happening, festival, media event, party or
sporting event an exhaustive definition, in every way symbolic of the events
industry today.
Events include: weddings,
concerts, International Conferences, Seminars, Television Based Events,
Exhibitions, special occasions, corporate events, Road Shows, fashion shows,
award nights.
Gone
are those days when functions, weddings, birthdays etc were self-organized.
Today there is a great demand for event managers. From the smallest event like
a theme birthday party to a large scale event like a wedding individuals
require wedding and event planners to put across the show.
The size of the organized events and
activation sector is estimated at around INR Rs.2800 Crore.This value
represents the revenue of events, and activation agencies, it also includes the
value of meetings, incentives, conferences, and exhibitions (MICE).
Event management at one time was about planning, organizing and executing a
project/activity such as parties, weddings, product launches, conferences, etc.
Today, it encompasses a wide range of profiles that offer thrilling
opportunities to those who have a keen interest in this particular segment.
Celebrations like birthday parties, which earlier were simple family affairs,
have now turned into glitzy events where people want theme docor and celebrity
appearances. It is the event management company that is helping them put all of
this in place, of course at a price tag.
The event industry is no longer considered an
organization run by students, kids etc. With the event companies now being rated by
bodies like the Conderation of Indian Industry (CII) and Federation of Indian Chambers of Commerce and Industry (FICCI) and media houses
investing in them heavily, the industry is now organized and run by
professionals, an aspect that has brought with it a certain respect to the
profession,' shares Thanush Joseph, director, marketing, Seventy Events and
Media Group.
Various Sectors---
Wedding Management:
The big fat Indian wedding just got bigger and better. The spending power of
individuals has increased like never before. No longer are weddings an average
affair put together and managed by members of the family. While Indian weddings
have always been larger than life affairs. Indian extravagance has touched greater
heights & new frontiers of grandeur. People these days prefer destination
weddings in exotic locations, they prefer to appoint the best makeup artist, cuisines
like there is no end. However this trend is still largely restricted to the
elite and upper middle classes.
Fashion
shows since the past decade or even more have always been highlighted in our
country. With several fashion weeks Wills Lifestyle Fashion Week, Lakme Fashion
Week & award nights like IIFA, TOIFA to name a few. Film and television
awards were being instituted in the last couple of years, the demand for event
planners who can organise the chaos has a great demand now.
Sports Management:
When you talk of sports how can you forget the emergence of the ‘Indian Premier
League (IPL)’, IPL introduced to cricket
a corporate identity which was never seen before.
Post the Commonwealth Games sports like Formula 1, tennis, boxing have gained
high popularity.
Features
of an event:
- A unique occurrence that does not happen very
often
- Held for a purpose
- Limited duration
- Temporary set up
- Happens with a live audience
An exciting career option, upcoming and a thrilling
profession
The career avenues at INLEAD are broadly divided three sectors:
1)
Event
Operations:
- Event planner
- Wedding planner
- Artist Manager
2) Event
Marketing:
- Business Development Manager
- Client Servicing Manager
- Account Manager
3) Public
Relations:
- Public
Relations Officer
- Brand Manager
- Corporate Communications Manager
Pay-Scale
The event management industry is known to pay well
Stipend:
10k-15k PM
Post experience – sky is the limit, you can earn as high as 2 lac per month
Drawback & Challenges:
·
High entertainment tax
·
Lengthy procedure for import of equipment’s
·
Lack of infrastructure
·
Lack of manpower
What
drives this industry?
·
Rise of wedding and other family events
·
Increase in sports events
·
Increase in corporate events
·
Increase in below the line activities
Key Trends:
·
Foreign companies entering into India
·
Event Management courses in the offering
We can conclude by saying that it is only the event
industry which includes event planners which are helping in fulfilling peoples
wishes by showcasing grandeur events.
Event Industry is only going to become BIGGER & BETTER!