Event Management

eventSCOPE OF EVENT MANAGEMENT- OVERALL MARKET SCENARIO

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 world’s most effective property” in terms of marketing tools. The Olympics sell sponsorship on a local and global basis, and every couple of year’s corporation’s line up to pay as much as $50 million to be the lord of the rings. The Atlanta games in 1996 have a...