The event property also has the characteristic that it belongs to the event organizer and cannot be taken away or stolen by competitors. For example, the Miss India-a beauty and talent contest-is the event carried out annually irrespective of the change in the contestants, judges, venues, clients and target audience, etc. Femina, a part of the Times of India Group, owns the event and its event property.
The event property of the Miss India pageant is its official recognition as a national contest for selecting the Indian representatives for the Miss Universe, Miss World and the Miss Asia Pacific contests. This makes it very difficult nigh impossible for any competitor to steal the concept away. Retaining Event Property:A major part of marketing planning and strategy should be devoted at the conceptualization stage for identifying the event property before canvassing for clients. For instance, organizing a music concert without an event property would amount to forcibly making the event a one-off affair.
Since every event concept undergoes variations and improvements it is imperative that to enable acceptance of the successful repetition of the event, the event property be identified and incorporated in the final concept. Retention of the event property frees the event organizers from the hazards imposed by the uncertainty of association of clients and target audience with the event. It also frees them from the need to pamper the event infrastructure elements and can therefore be more professional in their business.
Threading an event property into the event concept perpetuates the event giving it a whole new aura of exclusivity. Just as the Miss India example cited above, every event that has a definite event property attached with it has a fixed periodicity of occurrence to ensure that the maximum benefits are derived from the event. The Olympic Games in the sporting arena is the perfect example. Occurring every four years, the Olympics move to different countries and have different athletes, officials, clients and target audience every time. But still, the event property is providing athletes from the entire world a common platform to compete in different competitive events to bring glory to their respective nations with a spirit of bonhomie. The difference between the Olympics and similar events such as World Cup lies in the event property associated with the former.
The Olympics provides equal opportunity to the maximum number of nations for almost every recognized sporting event unlike the World Cup, which are game specific events. In addition, the spirit of participation and patriotism is considered to be more important than actual victory or defeat.