EVENT Management and Public Relation INDUSTRY: A Broad Overview

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.

Award Nights/ Fashion Shows

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

EVENT MANAGEMENT as a CAREER:

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!