Virtual Reality in Events Industry: Emerging Themes

This article discusses the emerging theme of virtual reality in the events industry and how it can be useful. It explores the impact of VR technology on event management companies and the potential benefits it can provide. The article also discusses the use of VR technology in workplaces, training procedures, and marketing strategies. The company is introducing a new team-building event, which is known as the “The Killing”. This theme is based on a crime scene that will be experienced in virtual reality. This event will boost the revenue, as people love thrilling experiences. The Virtual reality will help the event industry in growing and earning a huge revenue in the next 5 years.

Running head: EMERGING THEMES
EMERGING THEMES
Name of the Student
Name of the University
Author Note

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The topic, which is discussed in this article, is about the theme: virtual reality in the
events industry. With the advancement of technology, people have moved to the virtual world
where an individual can experience a location or an event while being in another location. This
article explains how the virtual reality can be useful in the events. For giving virtual reality,
experience proper arrangements also need to be done with high-end technology so that the user
can enjoy the experience without any issue.
The virtual reality companies will have a huge impact on the event industry companies.
The companies like Wizcraft, Percept, Cineyug will be highly benefited by the use of virtual
reality in their companies. Using the VR technology will enhance the customer satisfaction and
will help them in gaining a lot of customer in their organized events. This will help them
increasing their brand image in the market (Van der Wagen and White 2018).
The VR technology will change the way of the entertainment. People will be more
involved in the activities and the technology will provide many benefits to the event industry
companies. This will help the event management companies to gain customer of different age
segments in the next 5 years. There is a possibility of Virtual reality theatres, which will give a
huge push to the revenue of the event industry companies. Use of VR technology will give
many small event management companies to grow in the market (Aghion, Hemous and
Kharroubi 2014).
Virtual reality will provide opportunity for the people to have 3D experience in a more
refined way. 360° video is becoming very popular and this can be seen by the introduction of
360° picture from Facebook and Apple (Newman 2017). Virtual reality has been used in many
events earlier. Events like sports events, conferences, music concerts and award ceremonies have

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already used the virtual reality technology. It helps people who are not able to attend the events
and ceremonies to have a seamless experience. People are applying the virtual reality creatively
and in 2017, the first virtual reality ceremony has been organized. On 2017, Mobilseye
surprised people by introducing driverless car with the help of virtual reality software.
However, the cost of the virtual reality technology is relatively high but it is expected to come
down in future (Biocca and Levy 2013). It is expected that the VR market is going to worth 30
million dollar by 2020. Piper Jaffray, the investment bank estimates that 500 million VR
headset will be solved by 2025 (Shaikh et al. 2018). While most of the user thinks that the
virtual reality is only associated with movies and video games, the technology can be, also have
a huge impact on the workplaces. The virtual reality software can provide following solutions to
the organization- Virtual reality can help people to empathize with other individual and some
organization is applying virtual reality for this exact purpose. Businesses can use this technology
to help employees to get closer to the customer for providing better customer satisfaction.
Virtual reality can help employees in making better decision. With the help of the virtual reality
technology, the employee can get the opportunity to build the exact scenario in virtual
reality world and then they can analyze the decision, which will help them in making decisions
that are more effective (Wibowo and Deng 2013). Virtual reality will help in providing
opportunity to the stakeholders to engage in any meeting if they are not able to attend for any
uncertain reason. This will help in increasing stakeholder’s engagement and will help in making
decision. Apart from this virtual reality can help in many other ways. Virtual reality can help in
training procedures. Virtual reality is proving to be a revolutionary technology in the field of
medical science. Earlier students used to practice on the mannequins, now they practice in a
more interactive way and it responds quickly and rectifies them during when needed. The virtual

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reality training is now given to the aviation sector as well. The virtual reality helps in the
training of the pilots by giving the real experience of being on a flight console. Impact of the
virtual reality on the customer is proved to be lasting for a long time. One of the most
difficult task for the business organization is to market a product in such a way that it create an
impact on the customer, the virtual reality can do these effectively. Operational decisions are the
decisions that are made to manage the day-to-day operation of the business. Strategic are the
long-term decision that deals with the environment in which the organization operates its
business, the people who works for the environment and the resources that helps the organization
to survive. Pricing is an important factor that the organization has to consider. The event
management organization have to consider all the prices starting form the cost of organizing the
events to the cost of virtual reality headsets in mind while deciding the pricing (Solomon et al
2014). The promotion of the business organization needs to be done effectively. The target
audience should be the young generation and so the marketing strategy should be carried out
according to that (Liu et al 2015). Collecting the information is a necessary and vital step that
will help the organization in making the organization successful. Gathering information from the
events that have been successful in the past will help in organizing the event in a more effective
way. Funding is one of the vital strategic decision that the managements have to take. The
funding should be done in such a way that the management gets a high return on investment
(Huff and Rogers 2015). Many organizations spend a very less amount on the marketing and this
affects the organization. Funding should be done with a lot of planning so that the right
investment provides the expected return.
The company is introducing a new team-building event, which is known as the “The
Killing”. This theme is based on a crime scene that will be experienced in virtual reality. This

4EMERGING THEMES
event will boost the revenue, as people loves thrilling experiences. The killing will attract the
customer from different age group unlike the virtual reality games, which only attracted the
youngsters and the gamers. This innovation will increase the effectiveness of the team-building
event. The Virtual reality will help the event industry in growing and earning a huge revenue in
the next 5 years.

5EMERGING THEMES
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