Test #2 Flashcards by bay McColl

2 types of exhibitions or trade shows

b2b- business to business/ b2c- business to consumer

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5 items that should be included in an exhibitor prospectus

Location,Dates, Name of Meeting, Floor Plan, and Rules + Regulation

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3 different types of booths

Corner booth, End Cap booth, Island Booth

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Horizontal Show

wide variety, expanding product lines

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Vertical Show

Industry specific product or service (Boat, Ski)

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3 potential sources to look for potential exhibitors

Past exhibitors, vendors, commercial mailing lists

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Methods of space allocation at a trade-show

First come First served, Point System, Lottery(draw)

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What was the annual growth rate for trade shows in Canada between 2013 and 2017?

2.3%

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Trade shows employ how many a year?

7,647

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4 of 7 Trade-show tips

Appropriate Facility space, Contract all show services, Effective Floor Plan, Manage + Secure insight team

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3 steps to Event Evaluation

Measure, Evaluate, Report

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5 areas to consider when evaluating an event

Measurement of event Outcomes
Demographic Profiles 
Identify Event Improvement 
Enhancement of Event Impact
Evaluate Event Management Process

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Qualitative Feedback

Colourful responses + verbal responses

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Quantitative Feedback

Surveys, data, stats

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5 Steps to Event Evaluation

Plan
Data Collection
Data Analysis
Report
Dissemination

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When do we begin planning our evaluation event and why?

Ahead of an event, to find out who needs info prior

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What Info or data should we look for to help us improve on an event

How was date and hours of event
Social Media Feedback
What worked, what didn’t

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Artificial Intelligence

On website, a robot will have generated responses for inquiries about event

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3 possible data sources

Attendees
Onsite Staff
Sponsors

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What is the only truly reliable measurement tool for event demographics

Audience Survey

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3 basic factors to consider when designing an audience survey

Survey Monkey
iPad Survey
Email or Onsite

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Post-Con

Meeting to debrief about event

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3 things to include as part of your post-event reporting and discussion

Review of bills
Contracts are complete
Thank-you’s

Purpose of Event Budget
6
Predict, Provide, Facilitate(2), Create(2)

predict and monitor event costs and revenues
provide financial objectives for evaluating performance
facilitate awareness of cost reduction opportunities
create awareness of financial position for stakeholders
create a control system
facilitate planning for future events.

2 types of Budgets

Line-item Budget | Program Budget

Line-Item Budget

Estimation of every cost and revenue item Level of detail may be outlined by stakeholders

Program Budget

Created for a specific program or element | Separating this budget from the main budget allows financial aspects of the program to be considered alone

3 Environmental Factors

Trends for event type Market Research Forecast of revenue sources such as ticket sales

Change from previous events

Forecast of expenditure needs to undertake the same forecasting. Changes from previous events – change to ticket prices, change (addition or subtraction) of attractions, change in venues/location etc., changes to advertising and promotion.

Increasing awareness of areas of uncertainty is a key benefit of budgeting Creating alternate budgets based on several scenarios can help prepare for uncertainty.

Levels of uncertainty.

List categories(Venue expenses-room hire,Cleaning), or break them down into smaller items May be determined by stakeholders. Alternate budgets – Creating budgets based on a likely scenario, pessimistic scenario and optimistic scenario can ensure that all outcomes are considered.

Levels of Detail

Budget Objectives

Stakeholders need to be considered before change is made Budget review Regular monitoring if expenses are above expected levels, measures must be taken to control costs. To change or not to change

Future Budget 7

1. Analysis of environmental factors 2. Assessment of levels of uncertainty 3. Forecasts and categorisation of revenues and expenditures 4. Budget drafting and assessment against objectives 5. Distribution of budget to stakeholders 6. Negotiation and finalisation of budget 7. Regular review of budget

Additional revenue = profit. Calculating breakeven points require knowledge of: Fixed costs: Same cost no matter how many tickets are sold Variable costs: Costs that change depending on how many tickets are sold

Breakeven Analysis

means having the right thing, at the right place, at the right time, regardless of the scope of your event, covers every task from drayage and crowd control to F&B and marketing. It is something that is very difficult to teach in a classroom. Practical experience is the best teacher.

Logistics

Logistics Considerations

``` Event goals and objectives (Week 2) Venue / Site Selection Transportation for attendees Air Travel, Ground Transport, Parking etc. Develop a time line or critical path ```

the most important section of logistics and often overlooked, it refers to the movement of attendees, service providers, and equipment (drayage) during an event.

Onsite Flow

Another element often included in the early stages of event planning. Characteristics of the area your venue is located in Data concerning your target market or potential attendees/audience, including socioeconomic factors, cultural background, interests etc

GDP Geographic-Demographic Profile

True or False Critical path is is the list of tasks to be done from the event team’s arrival at the venue to its departure: before, during, and after the event and The Itinerary is a blueprint of how an event will unfold.

False: The Itinerary is is the list of tasks to be done from the event team’s arrival at the venue to its departure: before, during, and after the event and The Critical Path is a blueprint of how an event will unfold.

go-to source for all information that may be needed by event managers and staff on-site at an event

Onsite Manual

Percentage of funds held upfront before event.

Walk Policy

Cancellation

A clause stating that each party will not hold the other party liable should the other party hurt themselves, cause damage etc. – regardless of fault

Provides an outline for both parties and penalties should either party cancel

Indemnification

Attrition

A designated date in which the hotel will release the room they previously hel

Guests holding rooms sent to another hotel because of overbooking

Cut-Off date

Deposits

Provides payment to hotel should the other party not fulfill its specified percentage of rooms booked, F&B cost etc

Five legal elements of a Contract

i. Offer ii. Acceptance iii. Consideration iv. Recorded in writing v. Legally competent

states that an offer is considered accepted at the time that the acceptance is communicated

Mailbox Rule

This is the parties’ entire agreement on this matter, superseding all previous negotiations or agreements

merger clause

1) ??? is often a problem, expensive and not very constructive, as it is generally drawn up by lawyers who are not involved with conferences. 2) ??? covering the legal requirements, substantiated by the proposal, is the ideal situation which should meet all the contractual needs of both PCO and client. 3) ??? is merely a ‘gentleman’s agreement’, and will never work in a legal dispute.

1) A formal contract 2) A standard contract 3) An exchange of letters

3 Negotiation Tips

``` ∙ Check the dates, number of rooms etc. ∙ Departure times ∙ Group rates ∙ Free rooms ∙ Cancellation dates ```

Businesses should contribute to the welfare of the community. Employees happier and healthier / employee retention increases More appealing image for potential employees Recycling helps underprivileged.

Social Reasons

Why GO GREEN

$$ and Social Reasons | People, Planet and Profit

Environment Canada created...

Green Meeting Guideline and Toronto is 68.4

Ranks cities according to environmental programs administered by local convention and visitor's bureau.

City Score-Card