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Events Management: Principles & Practice - Essay Example
Pages 14 (3514 words)
The paper produces an event proposal especially for the music industry management students who are planning to conduct a series of music events. ‘Music event management’ is an exciting and rewarding area related with the music industry that requires a great deal of hard work…
In this research, the different management principles that have been applied constitute the marketing, finance and human resource management plans and by following or emphasising these principals, a significant success can attain while conducting his/her series of music events. From the marketing management principles’ perspective, particularly the ‘4P’s of event management principles have been applied. This 4P’s have been related with the price, place, promotion and product that lay emphasis upon the marketing plan’s point of view. Here the product is referred to as music event management. The factors like the location of the event to take place, tickets pricing along with the promotion of the events in various ways and also focusing upon the target audience segments have been applied in the event proposal for smooth executing of the series of music events. Moreover, in this event proposal, apart from the 4P’s, the marketing techniques in order to promote the event into the market through paid commercial television advertisements and public service announcements particularly through the radio have also been prescribed. Aside from the managerial principles and practices of marketing plan perspective, finance plan has also been formulated in the event proposal. The main priority was given to the process of ‘budgeting’. It constitutes the economic environment in which the series of music events will take place along with identifying various estimated cost areas like organisational, operational and other miscellaneous costs. ...
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