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Introduction
The event management industry of Malaysia has witnessed a rapid growth over the past few years. Various events, both corporate and social, have gained prominence within the Malaysian event management industry. As a result, event Inventors with their motto of providing wonderful memories based on the technological application can provide an opportunity within the Malaysian context. With the vision of enhancing the customer, satisfaction with mechanical learning will certainly help the company to create its position among the market.
Executive summary
As per the statistics, in 2021, the Malaysian event management sector has earned total revenue of 16 million USD with both the online and the offline event management. In addition, the annual growth rate of the Malaysian event management sector is supposed to increase by 56.29% with a total volume of 97 million USD by the end of 2025. Among all the sectors of event management, the sports and the music events have gathered most of the revenues. Therefore, in this report, the paper has provided a complete operation plan and strategy for the business development.
As a result, the report has presented the background of the company with their vision and mission, the synopsis and detailed overview of their marketing plan, situational analysis for the internal and external factors. In addition, the report has also presented the political, economic, competitive and socio-cultural factors important for business operation. The report has also presented the competitor analysis and strategies to maintain the customer relationship as well.
Background of the company
Event inventor is an event management company expected to introduce business with Artificial Intelligence technology. Artificial Intelligence makes it possible to learn from experience. Artificial intelligence is used to perform human-like tasks and make new inputs as well. This company uses this technology to enhance their capability. This has seen event inventors expected to increase efficiency by using AI technology. Tools used in Event inventors have shown efficiency of 7%. This company has used technology for web conferences and low-code applications. This newly invented company has a background of Small and Medium Enterprises at the early stage.
Now, this company is expected to operate organisational management with AI technology. Artificial technology has tools such as robotic technology, Scikit learn and all others. Companies have introduced robotic technology to execute customer strategy and employee strategies. AI helps in the reduction of time taken for a job. This can work 24×7 without any interruption. Global data have shown AI can increase 20% of work efficiency of an organisation. In recent days, robotic technology has been used for development of organisation infrastructure. Thus, Event inventors want to introduce AI technology to develop the entire organisation structure.
Vision mission statements
Vision statement of Event inventors is to bring artificial technology with application of machine learning to new domains to develop deep learning technology with innovation in manufacturing and diagnostics.
Mission statements of Event Inventors will focus on efforts that will benefit in addressing the essential needs of customers. Thus, this company has a vision mission statement with focusing incorporation of artificial technology for developing deep learning technology to extract the needs of customers.
Company tagline
Event Inventors is an event management company with the tagline “our business is making memories, let our tech to handle it”. Therefore, it has been clear from the above-mentioned tagline of the company that they expected to develop their business with more innovative technology that can make their business memorable each time. Thus, they want to introduce AI intelligence systems such as Robotic technology, MXnet, Caffee and all others to consolidate their tagline.
Synopsis of the marketing plan
Event Inventors have a marketing goal of content creation and management tactics by their work. They used AI and robotic technology to reach their marketing goal by a well-developed marketing plan. In this synopsis, it is clear that this organisation wants to develop their organisation as a company with exclusive marketing strategy. To set out this strategy this company used some steps to develop their marketing plan with implementation of AI. Event management has been seen as a business to customers marketing strategy. Thus, they can structure their marketing with the needs of the customers with the incorporation of modern technology. Event inventors have a marketing strategy of setting up a budget of events prior to its starting.
They also set their content before the starting of events with summarizing the communication tactics. Event inventors can use AI tools such as MLcovers for budget their events. They also can use WordPress CMS, flexslider and all others for their content creation for an event. In synopsis of Event Inventors, they also included right place promotion to launch their events. Right promotional place helps an organisation to develop their business with the help of technology in national and international business. Thus, it can be stated this newly discovered event management organisation that wants to develop their business with advanced technology that will help them in nationalisation of their business and make it memorable.
Marketing plan of Event inventors also included a marketing mix strategy to develop their business. However, they do not understand the proper implementation of this marketing mix in their marketing plan for a well-developed marketing strategy. Event Inventors included marketing mix strategies of 4P’s into their marketing plan; however do not understand the way of implementation. 4P’s of marketing mix included product, price, place and promotion to develop marketing plan.
This marketing mix strategy for marketing will develop only with the proper implementation of technology in this mix strategy. Market Muse is an AI tool that has been developed for product marketing in marketing mix strategy. Use of this AI tool MarketMuse helps Events inventors in their product marketing that is the main criteria in a marketing mix strategy. Event inventors have a target market of social market with the affinity of online events to attract more customers. They have a target customer of the millennial age group to promote the sell their products. The Millennial age group of customers is an age group coming from the youth generation and active in social media.
Situation analysis
Internal environment
Internal environments of a company can be analysed by Porter’s five forces. Porter’s five forces consists of five elements such as threat of new entrants, power of suppliers, power of buyers, substitute products and rivalry. Event inventor’s internal market analysis can also be done with porter’s five forces.
Figure 1: porter’s five forces
(Source: smart-edge, 2021)
Threat of new entrants
Threat of new entrants describes rivals in an existing market that can be a threat for an organisation. Event Company KL and Events Ticket are other companies of event management that come as new entrants to Event inventor. This new entrant in event Management Company brings innovation with new ways of doing things with newly invented technology. This becomes a threat to the Event Inventors. This threat to the Event Inventors becomes a challenge to them for gaining competitive advantage. Event Inventors can launch advanced technology robotic tools to mitigate the issues that come from threats. They will use Visualping, an AI tool that helps in detection of new entrants in the existing market. Detection of new entrants helps them to know the standpoint of their rival and their strategies. Event inventors can update their strategy by comparing strategies their rival Event media have with advanced AI technology. Events Ticket reaches $2.1 billion in 2021 and this is a threat to the Event inventors.
Bargaining power of suppliers
Suppliers are always placed in a dominant position as they can increase or decrease margins of a company. Almost all of the event management companies in Malaysia buy raw material from TAFCON. This is a raw material supply company for event management organisations. PERCEPT is another raw material company for event management. Suppliers use their negotiation power for extracting higher prices from the firm.
For event inventories, there is a situation of conflicts between negotiation powers of two competitors of raw materials. Event inventors can use advanced technology to navigate the multiple powerful suppliers in Malaysia for mitigating these issues of bargaining power of suppliers. They can use artificial intelligence to mitigate issues of suppliers. Optimization SCM is an AI tool that can help in supply chain management. This tool helps in optimizing the speed of the suppliers and planned movement based on goods that are on demand from customers.
Event Inventor also can use third party manufacturer revolution in their organisation along with technological advancements. Event inventor has faced challenges with bargaining power of suppliers. They lose around 3.5% of their customer demands due to the shortage of raw materials by bargaining power of suppliers.
Bargaining power of buyers
Buyers are often demanding of their organisation. Buyers always want to buy products at the lowest price as low as possible do. These bargaining powers of buyers put threat to the internal environment situation of an organisation. The smaller and the more powerful customers base of Event Inventors seeking high amounts of discounts and offers to avail products from Event inventors. Event Inventors can build large groups of target customers, which help them in two ways. It helps to reduce the beginning power of target customers. This is also helpful, as this will provide opportunity to the firm to lining their sales and production. Intelligent call routing is an advanced CRM system Event Inventors can develop into their organisation to mitigate issues of bargaining power of buyers.
Threat of substitute products
Substitute products using advanced technology for event management becomes a threat to the Event Inventors companies. Threat of substitute products can be described as the new product or services that can meet the needs of the customers in different ways. 360-degree events, 70 EMG are some of the companies that meet the needs of the customers in a different way and use creative techniques in their services . They use products such as newly developed cameras and distinctive locations for their events that overwhelmed the customers. For this threat of the substitute products Event Inventors lose around 12% of their customers. Substitute products that can bring threat to the Event inventors are advanced technology in ornamentation of venues; services are more innovative with the advance technology and all others.
Rivalry
Rivalry in an existing market of same services and products can drive down the price. This also can snitched customers from an existing company. Event Inventors lose their 3.5% of customers and 15% of their total revenue by this threat of rivalry. Being a new company Event Inventors have gained a base for target customers that can bring success to the organisation. Above creative events, event company KL are some of the rival companies that can meet up the same services to the customers and snitch their target customers. Event Company KL built a sustainable differentiation in base of advanced technology by using Robotic technology in detection of customers and their target markets regarding their marketing strategy. Event Inventors also can incorporate this technology into their organisation.
External environment analysis
Political factors
Malaysia is a federal monarchy with 13 states and 3 federal territories. Malaysia has political stability and rotates their administration systems every 5 years. Malaysia is one of the founding members of ASEAN and Organisation of Islamic Corporation (OLC). This country has recently focused on the corruption of some political figures. Now, Malaysia has ranked 57th in the corruption index out of 180 countries. This has reflected in their business organisation, school and colleges also. This can be a barrier in the country’s organisation and business development. Event inventors has affected by these aspects of political factors, as there are positive and negative influence by the political factor of Malaysia.
Economic factors
Malaysia’s Gross Domestic Product (GDP) in 2019 was $364384 million. The GDP per capita in 2019 was $11, 193. This per capita GDP was in 2019. This economically developed Malaysia achieved by adapting cutting-edge technology in their country. Malaysia exports their products to countries such as the USA, Japan and Hong Kong. However, they lose foreign direct investments every year due to export and import tariffs from other countries. Malaysia’s GDP first growing GDP helps in business growth in Malaysia. Tariffs on export and import present barriers to the economic growth of Malaysia that can be a threat to the economic development in Malaysia. These economical states of Malaysia have effects in development of Event inventor’s economy as it has influenced incorporation of AI.
Socio cultural factors
Malaysia is a multilingual, multicultural, multiethnic and multi religious country. Malaysia has a rich cultural life in order to diversify their religion and ethnicity. Communal harmony is an excellent feature of this country. People live a more decent lifestyle in order to cooperate and bring togetherness brings to the country. This can lead to the developed social cultural aspects in Malaysia. Low income tax and free healthcare system services help in communal harmony in Malaysia. However, excessive alcohol use among youths has been seen as a factor of socio-cultural aspects. This is a weakness of the Malaysian government and they used measures for controlling this. Event inventors have a positive socio cultural environment, as Malaysia is very specific with their culture.
Legal factors
Malaysia has a common law implemented the same regulatory acts all over the country. As per the report of 2016, Malaysia has 774 regulatory acts to regulate their country. There are some measures to influence more articles in their monarchic articles. Malaysia has introduced corporate Islamic law to all over the country, that is the regulatory acts to Malaysia and have been seen as a communal harmony in the country. The employment acts of 1995 established in Malaysia are the most important regulatory acts of the country and help in the mitigation of labour issues in the country.
Environmental factors
Political and regulatory
Malaysia is a country of constitutional monarchy, local discrimination and bureaucracy in collaboration form the government. Malaysia has a very stable political management according to the global political report. In this respect, Malaysia has stability in government. However, in the political corruption index Malaysia falls in 61th category as per the report of 2018. For this reason, Malaysia is under the threat of government stability. Malaysia is not only an international platform; it is also a member of world organisations such as the UN and CN. The Malaysian government has been rotating their administration system every 5 years to reduce corruption in the country. Political environment in Malaysia has had an effect on the growth and development of Event Inventors, as they are affected by political corruption of the Malaysian government.
Business regulatory concerns in Malaysia are channelled to the special taskforce to facilitate business by establishing PEMUDAH in 2007. This regulatory act has aimed to reduce the bureaucracy of governments in the business. This can address the unfair treatment in business policy. Growing use of regulatory tools has pushed Malaysia to develop acts for the assessments of the business. Malaysia has enacted regulatory impact assessments (RIA) to manage their regulatory tools promoted by Asia Pacific Economic Cooperation (APEK) and organisation for economic co-operation and development (OECD).
Economic fact
Malaysia has sped up their economic rate in order to achieve great economic sustainability. Malaysia will have national revenue of 76902 MYR billion in 2020. This has been decked from their revenue of 2019 that was 79022 MYR Billion. Malaysian trade decreased to 3.8% in the year of 2020 that has effects in economic development in Malaysia has been seen as a rate of GDP decline in Malaysia. Until 2019, Malaysia will have an economic growth of 4.3%; however, in 2020 it declines 1.03%. This is a great fall to the country’s GDP and has effects on the country’s economy. Malaysian economic performance on economy contracted to 5.6% in 2020 fiscal year compared to 2019 fiscal year. In the 2019 fiscal year, this contraction was 4.3%. Thus, the Malaysian economical environment has a contradiction of positive and negative influence on the Event Inventors organization. Malaysia is fast growing economy helps Event Inventor to build their economic development in the organisation.
Competitive environment
Malaysia ranked in 27th in the competitive market as per the report of 2019. Global data of competitiveness have focused on 140 economics across the globe. Malaysia placed 27th on competitiveness in Malaysia. This has also been shown that this country has a competitive index of 74.60 as per the report of 2019. Thus, Malaysia has a competitive advantage in their business that helps Malaysian organizations to grow business in a competitive market.
Malaysia’s largest export items are electrical and electronic goods (7.9%). Thus, they have gained competitive advantage in electrical goods. This helps them to earn a huge amount of foreign exchange to develop the country’s economy. Malaysia’s storage (3.3%) and transport sectors (5.5%) also gain competitive advantage. This helps in increments of GDP in Malaysia of around 3.8%. This competitive advantage of Malaysia in transport and storage sections also has employed 4.4% of Malaysia’s total employment.
Figure 2: competitive advantage in Malaysia
(Source: Oecd, 2021)
Technological environment
Malaysia is a rising country that incorporates technological advancement in their country. Malaysia has driven innovation and incorporated cutting-edge creation in their country. They have implemented ICT as an advanced feature of technology in order to develop technological aspects in the country. Technological advancement of Malaysia has increased their Annual Average Growth Rate (AAGR) to 0.9% in the last 7 years. Malaysia has set up their goal of cutting-edge ventures in the year of 2025 through incorporation Artificial intelligence in this country and in every sector of this country.
Operational plan
In case of preparing a marketing strategy, it is important to derive a proper operational plan as it helps the organisation to set goals as per the vision and mission of the company. As per the opinion of Ab Rahman and Anuar (2018), the operation plan of a company helps the organization to develop a framework for the daily activities and ensure a hazardless path for achieving the business goals as well. However, in this case, for Event Inventors, the operational plan needs to be set up as per the vision and mission.
Name of the Company | Event Inventors |
Vision and Mission of the Company | To bring Artificial technology with application of machine learning to new domains to develop deep learning technology with innovation in manufacturing and diagnostics |
Goals for the company | To develop a stronger appearance within the local and national media to draw the attention of the target audience To lodge a bold campaign over various social media sites for a better reach towards the target audience To increase the annual revenue by implementing better strategy in sales To gather more information regarding the requirement of the target audience To increase customer satisfaction To create a more developed network for the customers |
Strategies for the Company | To restructure the pricing strategies and the sales strategies to increase the revenue To incorporate an effective marketing strategy to enhance the presence among the media and the masses To increase feedback strategy to gather information regarding customer satisfaction |
Table 1: Operational Plan
(Source: Influenced by Ab Rahman and Anuar, 2018)
Action Plan
Strategies Needed to improve | Action for improvement | Potential Outcome | Time Plan |
For increasing Sales | To increase average sales and buying frequency of the contemporary customers
| The customers will be repeated and the customer loyalty will be increased | 5 to 6 months |
To set reach for the new customers through an enhanced network strategy through the application on the social media
| The number of customers will be increased and presence of social media will be enhanced | 5 to 6 months | |
To incorporate various discounts and offers within the sales to draw more customers
| New customers will be attracted | 2 to 3 months | |
Customer engagement Strategy | To incorporate feedback policy | Knowledge regarding customer requirement will be acquired | 4 to 6 months |
To include direct sales strategy through conducting a survey interview to the customers | A direct relationship will be established as well | 2 months | |
Customer Satisfaction Strategies | To train the employees regarding better services | A better service will be provided | 2 to 3months |
To provide additional discounts and benefits to the initial customers with their first services | A greater loyalty and satisfaction will be caused | 3 to 4 months |
Table 2: Action Plan
Roles and Responsibilities
Designation | Roles and Responsibilities |
CEO | To manage the overall operation of the company Managing the structure of organization Communicating with the board |
The Manager | To plan the structure of the business, organize the activities and manage the effectiveness of business operation |
The IT team | To promote the company over Social media To highlight the advantage of AI in providing accurate services |
The HRM team | To employ the skilled and learned workers To train the employees regarding the application of AI To manage the well-being of the employees |
The Marketing Team | To organize promotional tactics To develop the marketing strategy and marketing mix for target audience |
Table 3: Roles and Responsibilities
Marketing
As per the opinion of Park and Park, in case of event management, marketing appears to be the most essential tool as it allows the organisation to develop increased brand awareness among the masses and achieve opportunity for further development with more leads. In addition, according to the opinion of Camilleri, with proper marketing strategy, the event management organisation becomes able to introduce their services and products to the target set of customers. However, here in this case of Event Inventors, the types of marketing that can be implemented are – Traditional marketing Strategy, Digital marketing, Marketing for Public Relationship and Influencer marketing.
Traditional Marketing Strategy
As per the opinion of Pantano et al., the concept of traditional marketing refers to the marketing approaches mitigated in non-digital methods. Here, in the case of the Event Inventors, as a part of Digital marketing, the company can incorporate big banners, hoardings, festoons, placards and posters regarding the services offered by the company all across Malaysia. In addition, these offline posters and placards need to emphasise over the fact of including AI and Robotics within the services.
Digital Marketing
As per the statistics, 86% of the Malaysian population are highly engaged over social media and various digital platforms by the beginning of January 2021. Therefore, in the case of Event Inventors, Social media or Digital marketing appears to be one of the most relevant aspects of their marketing strategy. As a part of Social Media, marketing, digital ads can be created and can be applied through various tools of digital marketing such as SEO optimization, Email Marketing and Pay-per-Click Methods. This digital marketing can be incorporated within various social media platforms, such as, Face book, Twitter and Instagram and various entertainment platforms, such as YouTube.
Figure 3: Social Media Penetration in Malaysia
(Source: Statista, 2021)
Marketing for Public Relationship
Another major marketing plan for Event Inventors can be done through the Marketing strategies that enhance Public Relationship. Arranging events that also includes Social responsibilities, such as, the Tree Plantation, Water Reservation or events for local orphanage or old age homes can also be used as a part of promotional marketing. However, during this event management, an enhanced use of the AI and robotics can be made during the execution of the event management and setting communication as it will improve the idea of brand among the masses.
Influencer marketing
As per the opinion of Jin et al., influencer marketing helps the organisations to gain instant fame, increase the trustworthiness of the target audience, and enhance the brand loyalty as well. Therefore, in case of Event Inventors, influencer marketing can deliver a better prominence among the masses. As a result, Malaysian celebrities such as Dato’ Michelle Yeoh, Amber Chia or Sheila Majid can be considered as a model for influencing the people emphasizing how the use of Ai and Robotics have made Event Inventors deliver more specific and effective services to the common people.
Marketing mix
As per the opinion of Lahtinen et al. , in case of planning the marketing strategy, the marketing mix helps the organisation to build and produce their services and offers to the target audience and customers as well. With the help of proper marketing mix, the organisation becomes able to derive a proper understanding of the products and plan for a successful delivery to the customers as well. In addition, the marketing mix also allows the organisations to get a complete overview of their strengths and analysis of the internal structure and reduce the operational costs as well. In case of the Event Inventors, the 4P marketing mix can therefore be applicable. As per the opinion of Asdi and Putra, the 4P marketing mix allows the organisation to influence the buying behaviour and the buying decision of the consumers. Since, Event Inventors is going to launch their services for the very first time in Malaysia based on their application of AI and Robotics, therefore the 4P marketing mix appears to be apt for the Event management company.
Product
Since the events appear to be the product for Events Inventors, therefore the company needs to plan and design their events as per the requirement of their target audience. In addition, inclusion of the traditional and cultural aspects of Malaysia within the events with a modern approach may also seem attractive to the customers as well. In addition, the inclusion of a media promotion before and after the completion of the event can also increase the demand of the product among the masses. A survey for the potential audience regarding the price and the management of the events can also add up to the development of the product.
Price
As stated earlier, conducting a survey over the target audience may help the organisation to fix the pricing of the product. In addition, the formation of a detailed budget for the company including the expenses for advertisement, organisation, planning, promotion, cost of AI and Robotics, rentals, license and the food and beverage section may help to manage between the sales and the profit aspect of the events as well However, other than these traditional methods, the AI can also be used to optimise the pricing of the events and build customer satisfaction. Here, the AI can determine the price of the product according to the spending habits of the customer through the machine learning procedure.
Promotion
In order to design a successful promotion plan for the events, it is important to analyse the demographic profile of the target audience and understand the requirements of them (Asdi and Putra, 2020). Another crucial part for the promotional strategies, it may include the social media campaign, influencer campaign, traditional marketing campaign and including broadcast stations as well. In addition, the assistance of the local vendor, supply chain managers, sellers and the suppliers can also be included as a part of the promotional strategy.
Place
As per the opinion of Asdi and Putra, another major element of the 4P marketing mix is the inclusion of appropriate place or location for distributing the product. Here in case of Event Inventors, it is important to select a prime location to organise the events. In case of selecting the location, the various AI applications and the Robotics, technology can be included. With the help of AI, the trending spots, site selection and the risk management procedure can be built up in advance.
Target markets
As per the opinion of, in case of fixing the target market for event management, there are two basic market operations. These two target markets include the Social and the corporate markets. In the Malaysian context, various social events, such as the musical events or they sports events are in more demand. As per the statistics, the total revenue of the music segment of Malaysia through the event management sums up to 6 million USD and the penetration of this group is expected to be 5.4% by the end of 2025 . On the other hand, as for the sports event of Malaysia, the total revenue earns up to 9 million USD and the penetration is supposed to extend up to 4.1% by the end of 2025 . In addition, since Event Inventors work with the help of Robotics and AI, as a result, the online event management can also be considered as a part of their target market. As per statistics, 59% of the Malaysian customers prefer online event management. Therefore, the Social market along with online affinity of Malaysia needs to be set as the target market for this company.
Target customers
Just as the target market, the target customers also appear to be equally important for the marketing strategy. In this case, since, Event Inventors needs to focus on the social market of Malaysia with a strong online affinity, therefore the target audience needs to include –
- The customers belonging to the Millennium age group
- The customers possessing a strong presence of the social media
- The customers related to various social and cultural mediums, such as, sports, music, culture and art
- The customers related to small and medium enterprises of Malaysia
SWOT Analysis
S- Strength ● The use of AI and Robotics ● Dealing with the most popular sector for event management ● A strong internal social network | W-Weakness ● Lack of funding ● Lack of external stakeholders |
O- Opportunity ● Technological innovation in Malaysia ● A high affinity for social media among the population | T- Threat ● Huge rivalry among the market ● Employee retention |
Competitor analysis
Name of the Company | Events/ Services | Annual Revenue | Assets |
Rohm and Haas Malaysia Sdn Bhd | Entertainment events, virtual events, destination events | 19.34% | 4.78% |
Bravo Events & Entertainment Sdn Bhd | Entertainment events, Trade Shows, Conventions | 18.84% | 3.35% |
Petronas LGN Sdn Bhd | virtual events, Trade Shows, | 73.4% | 55.85% |
Table 6: Competitor Analysis
(Source: Emis.com, 2021)
Enhance customer relationships
As per the opinion of Iriqat and Daqar, managing the customer relationship is another crucial challenge in case of launching a new business plan. Here, in this case of the Event Inventors, certain strategies can be undertaken for managing the customer relationship based on the modern CRM theory of integrating the customers. This may include –
- Application of a proper communication strategy with the customers
- Incorporating the customer feedback policy to enhance the importance of the customer in the organisational development
- To customise the serviced along with the interaction strategy as per the background and requirement of the customer
- To use AI application to gather data and information regarding the existing customer and their buying behaviour
- Providing lucrative offer and advantages along with the services
AI Event Management market
In the case of Event management, AI has become one of the most crucial tools. The application of AI has brought ease and less complication within the event management procedure. As a result, in the case of Event Inventors, the AI can be used to determine the marketing strategy based on the target customers. The application of AI can also be used in developing networking of the organisation. The AIs may bring ease in setting a regular follow-up and communication with the customers and seek better opportunities. In addition, the AI can also help the company to mitigate the language barriers among the customers and customise the events as per their requirements.
Robotic Event Management market
Along with the various AI applications, the application of Robotics in event management can also become effective. Unlike AIs that help to develop the managerial strategies and action plans, robotics can be applied for maintaining the execution of the events. For example, the robotics can be used for actions such as delivering the food and beverage among the present guests, including the telepresence of the significant guests and members. In addition, robotics can also be applied for activities such as sound and light management, waste and water management or as a part of entertainment. In addition, at the kiosk booths, the robotics can be used as a booth tenders.
Conclusion
To conclude with, this can be said that the demographic profile, the situational analysis manifests the positive atmosphere for the business operation of Event inventors. Since, various event management companies have established all across the country in the past few decades, in addition, this prominence of event management has caused a relevant and significant growth in the demography of event management. Therefore, though there is tough competition within the market, technological advancement may lead to successful business operations for the event management company and help to include innovation.