Progress and prospect of event companies

1,688 views
1,488 views

Published on

Project report on progress and prospect of event companies in Pune City. In this research i analysed market condition and its future.

Published in: Services, Business, Technology
0 Comments
1 Like
Statistics
Notes
  • Be the first to comment

No Downloads
Views
Total views
1,688
On SlideShare
0
From Embeds
0
Number of Embeds
10
Actions
Shares
0
Downloads
79
Comments
0
Likes
1
Embeds 0
No embeds

No notes for slide

Progress and prospect of event companies

  1. 1. A Project Report On “PROGRESS AND PROSPECTS OF EVENT COMPANIES IN PUNE” SUBMITTED TO: ASM’S IBMR PUNE. SUBMITTED BY:- Hardik Lathiya Roll No. - 123116 (MMM- 2nd Semester)
  2. 2. ACKNOWLEDGEMENT I wish to express my sincere thanks to Director of ASM’S Institute of Business Management & Research, Pune. I wish to express my heartfelt gratitude to my internal guide Mrs. Nidhi Raj Gupta whose constant help and support at all stages of this project has enabled me to complete it. Last but not least, I thank all those who have helped me directly or indirectly during the course of this project. Hardik Lathiya Roll No. – 123116 (MMM- 2nd Semester)
  3. 3. DECLARATION I, Hardik Lathiya from ASM’S IBMR hereby declare that the project report has been undertaken as a part of 2nd semester of Masters in Marketing Management (MMM) syllabus Pune University, Pune. I declare that this report has not been submitted to any other university or institute for any other purpose. Date: Place: ASM’S IBMR PUNE (Hardik Lathiya)
  4. 4. INDEX Ch. No Topic Page No 1 Executive Summery 2 Synopsis 3 Introduction  About Topic 4 Research Objective 5 Research Methodology 6 Limitation of the Study 7 Data Analysis and Interpretation 8 Findings & Conclusion Reference  Bibliography  Appendix
  5. 5. EXECUTIVE SUMMARY As part of 2nd year MMM program I carried out my Research Project work. My Research work is study on “A Project Report on PROGRESS AND PROSPET OF EVENT COMPANIES IN PUNE” PURPOSE: To know about progress of event companies in Pune City and prospect for event companies in Pune City OBJECTIVES: To identify the scope in terms of the service provided by them To Study the type of events which are taking place. To Study the problems faced by the event management companies. To Study the level of professionalism in the industry To study the present industry trends and analyze the potential of event management industry. INTRODUCTION: 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. 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. 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.
  6. 6. RESEARCH METHODOLOGY: Here, researcher has been used descriptive research design. Researcher have use questionnaire for collection of data. And also use non-probability convenience sampling techniques. FINDINGS: 1. The findings of the project clearly states that the future of event management is very bright in the city 2. As per our findings and the calculations the results are not very encouraging at present. 3. The projections help us to draw a conclusion that there is a scope for event management companies in near future. 4. Currently the main target segment of these partial or complete service providers is the defense class people or the high class people have accepted these concepts much widely than any other community. 5. Event management concept needs to be popularized, by proper media coverage. 6. It is expected that event management industry will gear up in Pune in near future. CONCLUSION: From this research study, concluded that the scope of event management companies in near future and event management concept needs to be more popularized by proper media coverage and awareness about event management services.
  7. 7. SYNOPSIS 1. About The Topic: Event Management  “Events are occurrence designed for marketing interests.” Philip Kotler  Event management is the application of project management to the creation and development of festivals, events and conferences.  Event management involves studying the intricacies of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually launching the event.  The recent growth of festivals and events as an industry around the world means that the management can no longer be ad hoc. Events and festivals, such as the Asian Games, have a large impact on their communities and, in some cases, the whole country.  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 client’s objectives and justifying their needs for associating with events.  Events can bring community together for purpose of fundraising, change a town or city’s 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. Progress  Progress is the idea that the world can become increasingly better in terms of science, technology, modernization, liberty, democracy, quality of life, etc  The theory of progress drives social progress that advances in technology, science, and social organization inevitably produces an improvement in the human condition.
  8. 8. Prospects  Prospects are a probability or chance for future success for an Event Management companies in Pune City. 2. Area of Research. The area of research study is marketing. 3. Research Topic. “PROGRESS AND PROSPET OF EVENT COMPANIES IN PUNE” 4. Research Objective.  Primary Objective:  To Progress and Prospects of Event Management Company in Pune.  Secondary Objective:  To find the image of the company & how the company is working for entertainment source among the customers. 5. Research Methodology. I. Research Design : Descriptive research design. II. Selection Period : 04/05/2013 to 04/07/2013 III. Sources of Data Collection : There are two sources of data.  Primary Data Sources : Questionnaire  Secondary Data Sources Secondary data sources are collected from business magazines, books on research, marketing journals, past research report and website.
  9. 9. INTRODUCTION Event management Event management is the application of project management to the creation and development of festivals, events and conferences. Event management involves studying the intricacies of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually launching the event. Post-event analysis and ensuring a return on investment have become significant drivers for the event industry. The recent growth of festivals and events as an industry around the world means that the management can no longer be ad hoc. Events and festivals, such as the Asian Games, have a large impact on their communities and, in some cases, the whole country. The industry now includes events of all sizes from the Olympics down to a breakfast meeting for ten business people. Many industries, charitable organizations, and interest groups will hold events of some size in order to market themselves, build business relationships, raise money or celebrate. Marketing Tool Event management is considered one of the strategic marketing and communication tools by companies of all sizes. From product launches to press conferences, companies create promotional events to help them communicate with clients and potential clients. They might target their audience by using the news media, hoping to generate media coverage which will reach thousands or millions of people. They can also invite their audience to their events and reach them at the actual event. Services in Event Event managers 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, they 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
  10. 10. 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. Event manager The event manager is the person who plans and executes the event. Event managers and their teams are often behind-the-scenes running the event. Event managers may also be involved in more than just the planning and execution of the event, but also brand building, marketing and communication strategy. The event manager is experts at the creative, technical and logistical elements that help an event succeed. This includes event design, audio-visual production, scriptwriting, logistics, budgeting, negotiation and, of course, client service. It is a multi- dimensional profession. An event architect is an event manager that becomes involved at the early initiation stages of the event. Especially for larger public events, at the initiation stage, the event architect needs to make crucial choices and decisions related to the creative concept and design of the event. In depth technical design knowledge and full understanding of how to communicate a company´s message across a public are needed in order to make the event effective. If the event manager has budget responsibilities at this early stage they may be termed an event or production executive. The early event development stages include:  Site surveying  Client service  Brief clarification  Budget drafting  Cash flow management  Supply chain identification  Procurement  Scheduling  Site design  Technical design  Health & safety
  11. 11.  First aid services  Environmental and ecological management  Risk management An event manager who becomes involved closer to the event will often have a more limited brief. The key disciplines closer to the event are:  Health & safety including crowd management  Logistics and vehicle selection  Rigging  Sound  Light  Video  Detailed scheduling and agenda planning  Security Sustainable event management (also known as event greening) is the process used to produce an event with particular concern for environmental, economic and social issues. Sustainability in event management incorporates socially and environmentally responsible decision making into the planning, organization and implementation of, and participation in, an event. It involves including sustainable development principles and practices in all levels of event organization, and aims to ensure that an event is hosted responsibly. It represents the total package of interventions at an event, and needs to be done in an integrated manner. Event greening should start at the inception of the project, and should involve all the key role players, such as clients, organizers, venues, sub-contractors and suppliers.
  12. 12. Categories of events Events can be classified into four broad categories based on their purpose and objective: 1. Leisure events E.g. leisure sport, music, recreation. 2. Cultural events E.g. ceremonial, religious, art, heritage, and folklore. 3. Personal events E.g. weddings, birthdays, anniversaries. 4. Organizational events E.g. commercial, political, charitable, sales, product launch, expo.
  13. 13. ABOUT TOPIC Event Management  “Events are occurrence designed for marketing interests.” Philip Kotler  Event management is the application of project management to the creation and development of festivals, events and conferences.  Event management involves studying the intricacies of the brand, identifying the target audience, devising the event concept, planning the logistics and coordinating the technical aspects before actually launching the event.  The recent growth of festivals and events as an industry around the world means that the management can no longer be ad hoc. Events and festivals, such as the Asian Games, have a large impact on their communities and, in some cases, the whole country.  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 client’s objectives and justifying their needs for associating with events.  Events can bring community together for purpose of fundraising, change a town or city’s 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. Progress  Progress is the idea that the world can become increasingly better in terms of science, technology, modernization, liberty, democracy, quality of life, etc  The theory of progress drives social progress that advances in technology, science, and social organization inevitably produces an improvement in the human condition. Prospects  Prospects are a probability or chance for future success for an Event Management companies in Pune City.
  14. 14. LITRATURE REVIEW 1).Topic: A Project Report on Event Management Name of Person Mayur Ghunkikar University of Mumbai About The Topic:  Every time when you saw a program like ' Filmfare ' awards or those pop concerts and beauty pageants you would have wondered how people managed to set up such brilliant shows. Every tiny detail from your entering the venue to your going out is a result of rigorous planning. Well…that's event management for you.  One of the fastest and the most glamorous upcoming professions today, it means rubbing shoulders with who's who of the crème-de-la crème layer of the city. Event management, the most profound form of advertising and marketing, is a glamorous and thrilling profession. It provides an opportunity for unleashing one's creative potential to a very high degree. It demands a lot of hard work and effort but at the same time offers enormous scope. Conclusion:  Event management is a glamorous and exciting profession which demands a lot of hard work and dynamism. As the name suggests, it means conceptualizing, planning, organizing and finally executing an event. The event could be of any type - musical show, concert, exhibition, product launching etc. This industry is just eight years old in India, but holds a lot of promise for expansion. It offers enormous scope for ambitious young people.  Event management is the planning and implementation of events, large and small that meet the marketing goals of an organization. Event management is an area that is growing rapidly, and is expected to have a better growth rate in the next decade. Typical
  15. 15. events organized by professional event managers include product launches, parties, sponsored events, sporting events, competitions, concerts and festivals, fundraisers, trade shows, corporate open days, seminars and tours.
  16. 16. RESEARCH OBJECTIVE: PRIMARY OBJECTIVE:  The main purpose of this study is to Progress and Prospects of Event Management Company in Pune.  Approach Note:-  Identify the scope in terms of the service provided by them.  Size of the industry in Pune.  Study the problems faced by the event management companies.  Study the level of professionalism in the industry.  Study the type of events which are taking place. SECONDARY OBJECTIVE:  The secondary objective of the research is to find the image of the company & how the company is working for entertainment source among the customers.  In brief Objectives include-  To study the present industry trends and analyze the potential of event management industry.  Analyzing the Market strength of different event management company  Identifying potential market for launching new product and increasing clientage of the company.  Explicit feed back of customer after the deliverables of company.  Determine that how these companies promote other brands.  Identify the key players in this field.  Analyze the current market condition.  Study the size of the events in terms of budget and the gathering.  Study the level of professionalism in the industry.  Growth rate of industry.  Biggest event.  Frequency of events under different categories.
  17. 17. RESEARCH METHODOLOGY MARKETING RESEARCH STUDY: “PROGRESS AND PROSPET OF EVENT COMPANIES IN PUNE” 1. PROBLEM STATEMENT:  What is the progress of event companies in Pune?  Is there any prospect or future for event companies in Pune? 2. RESEARCH OBJECTIVE: A. PRIMARY OBJECTIVE:  To Progress and Prospects of Event Management Company in Pune. B. SECONDARY OBJECTIVE:  To find the image of the company & how the company is working for entertainment source among the customers. 3. RESEARCH DESIGN:  In this research design carried out was descriptive in nature the study was aimed at describing the existing phenomenon. The Six W’s 1. Who: Who should be considered a potential respondent?  The data are collected from clients of Millennium Events Pune and randomly choose from Pune City. 2. What: What information should be obtained from respondent?  Information related to events which they attend or upcoming events of respondent . 3. Where: Where should the respondent be contacted to obtain the require information.  The respondents are located city. 4. When: When the information should be collected.  The data are collected from 13th May to 17th August 2013.
  18. 18. 5. Why: Why are we obtaining information from the respondent?  To know their opinion for event companies and know their perception and expectation from event companies . 6. Way: In what way researcher going to obtained information from the respondent?  The data will be collected through personnel interview and questionnaire. 4. SAMPLING PLAN: I. Element : Pune City II. Sampling Unit : Clients of Millennium Events Pune and randomly respondent form Pune City III. Sampling Period : 13th May 2013 to 17th August 2013. IV. Sampling Techniques : Non Probability Convenience Sampling Method V. Sampling Size : 100 Respondent VI. Research Instrument : Questionnaire 5. DATA COLLECTION METHOD: I. Primary Data:  Primary data are collected directly from the respondent to solve the current problem. Here, researcher will use questionnaire for collection data. II. Secondary Data:  Secondary data are collected from many sources like books, internet, and magazine. 6. DATA ANALYSIS TECHNIQUES:  Graphical representation Method in Excel
  19. 19. NEED OF THE PROJECT  The need of the project is to study and analyses certain issues in event marketing and event management, which need further attention.  And some suggestions have been given to make the Event Marketing and event management industry more effective in order to utilize its full potential and serve the objective of an event and be mutually beneficial for the Event agency, the Corporate and the customer.
  20. 20. LIMITATION OF STUDY “Every coin has two sides as so every activity has a limitation". The main limitation has faced during the preparation of this project report one as follow. 1. The sample size of 100 is too small to know progress and prospect of event companies in Pune City. 2. There might have been tendencies among the respondents to filter their responses under testing condition. 3. Event Industry is very big and broad concept there are so many big player in India like Wizcraft International who capture more than 60% market of Indian Event Industry, which needed specialized knowledge of the area, so there is change for interpretational error? 4. Responses are subjective. 5. The survey which is conducted within Pune City only which does not represent the exact population.
  21. 21. Data Analysis 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.
  22. 22. The sample’s 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. Let’s 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.
  23. 23. DATAANALYSIS & INTERPRETATION 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.
  24. 24. What is the Buying Behavior after a positive experience of an EVENT 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 it’s a new product 88 3 10 78 6 16 69 3 29 0 10 20 30 40 50 60 70 80 90 More likely less likely neither More likely less likely neither More likely less likely neither a b c
  25. 25. 60 63 66 80 9 13 16 3 10 7 2 3 18 14 13 7 3 3 3 1 0 10 20 30 40 50 60 70 80 The product/services matched my interest The product or company was sponsoring an activity I enjoy My friend/relative had a positive experience The event offered an activity I could participate Other 22-29 yrs 30-44 yrs 45-54 yrs 55+ yrs Reasons for participation in any event 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.
  26. 26. People spend time at mobile events Interpretation 68% of the total respondents spend approximately 15 mins. on a mobile event and every less people spend over 30 mins. 68% 8% 24% 1-15 mins 15-30 mins over 30 mins
  27. 27. 75% 1% 24% better same less 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..
  28. 28. Interpretation:- From above we can conclude that there is no relationship between possible difficulties/drawbacks hiring an event management and general people’s occupation
  29. 29. Interpretation Most of people said event management as a business/profession will be a success in the city. Since it has potential.
  30. 30. FINDINGS Researcher starting survey with some sincere efforts & it was quite successful in obtaining information from the respondents regarding different aspect of Events. i.e. “PROGRESS AND PROSPET OF EVENT COMPANIES IN PUNE”. The findings & conclusions of the study are as follow.  The findings of the project clearly states that the future of event management is very bright in the city  As per our findings and the calculations the results are not very encouraging at present.  The projections help us to draw a conclusion that there is a scope for event management companies in near future.  Currently the main target segment of these partial or complete service providers is the defense class people or the high class people have accepted these concepts much widely than any other community.  Event management concept needs to be popularized, by proper media coverage.  It is expected that event management industry will gear up in Pune in near future.  Low awareness among the people.  Conservative mentality doesn’t 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 Pune, Mumbai and Pune.  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.
  31. 31. 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 than 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 Pune‘s business class must also know that its time to switch over to the new tools like trade fares and road shows rather than press advertising.  The charges for complete services should be reduced. As an example for catering services the general market price is around Rs.200 per plate, but generally companies are charging around Rs.400 per plate. Similarly the other services’ charges must also be reduced up to a viable extent.
  32. 32. BIBLIOGRAPHY 1. Books:  Lynn Van Der Wagen , (2005), “Event Management”, 1st Ed, Pearson, New Delhi. 2. Website:  http://en.wikipedia.org/wiki/Event_management  http://millenniumevents.co.in/  http://www.eventmanagerblog.com/15-free-ebooks-about-event-planning/
  33. 33. APPENDIX QUESTIONNAIRE Dear sir/madam I, Hardik K. Lathiya student of FYMMM of ASM’S IBMR at PUNE, conducting the survey on the topic “PROGRESS AND PROSPET OF EVENT COMPANIES IN PUNE” The information provided by you will be used for academic purpose only and it fully confidential. Hence, I seek your kind co-operation in this regard and request you to fill up endorse questionnaire. Annexure.1 (General Public) Name : Age : Gender : Occupation : 1. Which of the following events do you attend? Wedding Trade fare Corporate events Live shows Sports events Product launch Club 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 Neither more nor less
  34. 34. b) Product/service you have never heard of More likely Less likely Neither more nor less c) Product/service you already use More likely Less likely Neither more nor less 3. What was it that got you to notice or participate in the event? It looked like fun I recognize the company/brand running the event Signs and Banners Somebody invited me to participate The crowd that was already taking part in the event Others 4. How long did you stay at the mobile event? 1-15 minutes 15-30 minutes Over 30 minutes
  35. 35. 5. Which of the following is true? After leaving the mobile event I understood the company/product… Better Same Less 6. Possible difficulties / drawbacks in hiring an event management company Expensive Availability Reliability Quality of work Limited choice Less flexible 7. What is the number of events organized in your city per month? 1-5 5-10 15-above 8. Do you think event management as a profession/business will be a success in your city? Yes No 9. Which course of action do you prefer while organizing an event? Personal arrangement Hiring event mgnt co. Outsourcing
  36. 36. 10. Possible difficulties / drawbacks in hiring an event management company Expensive Availability Reliability Quality of work Limited choice Less flexible
  37. 37. Annexure.2 (Company Staff) Name : Age : Gender : Position : 11. What is the number of events organized in the city per month by your personal experience? 1-3 3-5 5-10 More than 10 12. Profile of customers of event management companies Business man Service class Professional Educational institutes 13. Problems faced by the event management companies? Licenses Sponsors Lack of awareness Permission 14. Different types of events mostly organized by the companies Corporate Meetings Product Launch Promotions Marriages Fairs Live Shows Musical Concerts Thank You

×