Term
| Sponsor prospectus should include |
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Definition
1. Overview & history of event
2. Return on Investment
3. Letter of proposal
4. Audience demographics
5. Sponsorship benefits &/or limitations
6. Terms & conditions
7. Draft program of the event content
Domain D Skill 7 |
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Term
| To understand the value that your event offers (value proposition), you need to... |
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Definition
1. Know your audience's buying habits
2. Marketing Reach & frequency
3. Potential for expanding visibility of sponsor beyond the meeting
4. Depth of exposure
Domain D Skill 7 |
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Term
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Definition
1. Previous sponsors
2. Current suppliers or exhibitors
3. Your stakeholders
4. Referrals
Domain D Skill 7 |
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Term
| What are the types of sponsorships? |
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Definition
1. Title or Main
2. Tiered Model
3. Credit Model
4. In-kind Sponsors
Domain D Skill 7 |
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Term
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Definition
financial support provided by the host destination or government as an incentive to event organizers
common in the international market
often includes binding contracts about the number of delegates, attendees or visitors at the event
Domain D Skill 7 |
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Term
What is an ASP?
(application service provider) |
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Definition
on-line registration company that offers customizable registration forms, secure sites, credit card processing, and automated confirmations
Domain D Skill 7 |
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Term
| To determine if hosting an exhibition is right for your organization, you would... |
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Definition
1. First, determine the feasibility of holding the event
2. Select the marketplace best suited to the requirements of your constituency
3. Take into account scheduling of similar or competing events
4. Create a forum of mutual learning & collaboration
5. Nature of attendee & professional purpose of event
6. Visit competitors' events
7. Conduct market research on viability
Domain D Skill 7 |
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Term
| A hosted buyer program offers __________, _____________, & _______________ to prequalified buyers to attend an exhibit. |
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Definition
1. complimentary travel
2. accommodations
3. registration
Domain D Skill 7 |
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Term
| Miscellaneous funding sources include... |
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Definition
1. Advertising on event website, event app &/or digital signage as well as print materials
2. Merchandise sales - wearables, promo items, content material
3. Commissions
4. Royalties
Domain D Skill 7 |
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Term
| The foundation for financial planning are the events __________ & ____________. |
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Definition
Goals & Objectives
Domain D Skill 8 |
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Term
| When building a budget, you need to distinguish among these 3 types of costs |
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Definition
1. Fixed costs
2. Variable costs
3. Indirect costs
Domain D Skill 8 |
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Term
Fixed costs are ...
3 examples are... |
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Definition
Expenses that are incurred regardless of the number of attendees
1. Meeting room rental
2. Audiovisual
3. Predetermined profit
Domain D Skill 8 |
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Term
| Name the 2 types of budgeting. |
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Definition
1. Incremental - building an event budget by analyzing figures from previous events/years
2. Zero based - no history (new event)
Domain D Skill 8 |
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Term
| The 7 common mistakes of budget planning |
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Definition
1. Allow contingencies for unexpected
2. Include tax & service charges
3. Include labor costs
4. Communicate clear policies
5. Review master account daily
6. Rely on history for meal guarantees
7. Know the value of your business
Domain D Skill 8 |
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Term
| The application for the VAT (value added tax) should be started 6months - 1 year before the start of ______. |
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Definition
Registration
Domain D Skill 8 |
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Term
| Contribution Margin Formula = |
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Definition
Registration Fee - Variable Costs
Domain D Skill 8 |
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Term
| To calculate the number of attendees for your event to break even... |
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Definition
Break even units = Fixed Costs
Registration Fee - Variable Costs
Domain D Skill 8 |
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Term
| To determine the registration fee to break even... |
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Definition
Registration Fee =
Fixed Costs + Variable Costs
# of Attendees
Domain D Skill 8 |
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Term
| When setting sponsorship pricing, you need to consider... |
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Definition
1. Benefits offered & fees for comparable opportunities
2. Attendee demographics
3. Costs required to service the sponsors' needs
4. Brand image of the event
5. Past fees
6. Prevailing economic conditions
Domain D Skill 8 |
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Term
| The 2 methods for accounting are ... |
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Definition
1. Cash Accounting - counts income & expenses as they are actually received & paid
2. Accrual Accounting - counts income & expenses as they are earned or incurred. Shows a more accurate representation of the event
Domain D Skill 8 |
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