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Key Accounts & Contract Management - Coggle Diagram
Key Accounts & Contract Management
Event Sponsorship & Marketing
Sponsorship Activation
Venue Activation
Be creative on how to reach & engage with audiences
Captive audience
Advertising / Marketing Activation
Brand marketing activity
Align sponsorship & advertising message
Have clear target market
CONTENT-BASED Activation
Use compelling content to engage consumers
Using digital games or game-based concepts to add to audience experiences
HOSPITALITY Activation
Engage with key decision makers in private, public sector
Networking, relationship building etc
PR Activation
Proactive approach to media
Showcase campaign creativity
Give media stories and access to visual assets
Retail Activation
Opportunity to create engagement
Setting up booth to have presence at event
Business Statistics
Inferential Statistics
Different methods of estimating, predicting or generalising characteristics of a populations
Organisation of Data
Organised into contingency tables or frequency distribution data
Collate, Organising, Presenting, Analysing, Interpreting
Purpose of assisting in decision making & monitoring, planning & controlling business activities
Help planners and organisations understand exactly what happened at events and how to improve in the future
Feedback Statistics
Feedback from audience helps us understand what they are looking for in an event and will allow company to segregate target market
Helps to target different group with different interests
Persuasive Communication
Persuasive Skills
Have good persuasive skills to persuade clients to choose you as their event planner over another company
Interpersonal Skills
Ability to conduct positive and meaningful conversations & relationship
Negotiation
Understand needs
Find a way to meet their needs
Negotiate an arrangement pleasing both sides
Emotional Intelligence
Noticing & interpreting listener's emotions
Understand what others are feeling & responding appropriately
Business Etiquette & Service Excellence
Punctuality
Taught me how to create a good first impression such as arriving on time (respecting people's time)
Grooming & Attire
Choosing the correct outfit & footwear for meeting clients / attending formal business events
Body Language
Offering extra courtesy to others
Body language when communicating
Business Conversation
What to talk and not to talk about in a conversation
To avoid sensitive & personal topics such as (finance, family, salary)
Teaches me how to professionally communicate with people in a formal setting
Travel Geography
Physical Geography (Climate) & Human Geography (Population)
Population
Knowing when is the peak period to travel (school holidays, christmas) and planning event on those months to attract consumers
Weather
Refers to what is going on in the atmosphere at a given time & place. This changes from day to day
Climate
Climate factors affecting travel to another place & which month of the year outdoor and indoor events should occur
Business Law
Contract Law
Terms of a contract
Conditions
Important term of contract, goes to the root of contract
Warranties
Not so important to contract
Innocent party cannot refuse to perform his part of contract
Discharge of contract
Parties are no longer required to carry out their obligations
under the contract.
Discharge by Performance, Agreement, Acceptance of breach, Frustration
Elements of a contract
The basis of a contract is an agreement. To have an agreement, there must be a meeting
of minds.
Binding contract made up of 4 elements:
Offer, acceptance, intention to create legal relations, consideration
Remedies for breach of contract
Legal / Common Remedies
damage & quantum meruit
Equitable Remedies
Specific performance, injunction & recission
Void & Voidable Contracts
Void
Treated as void from start, cannot be enforced by either party
Voidable (Valid Contract)
One of the parties may have entered into
the contract without full knowledge or consent to the contract’s terms.
Terms of a Contract
Express Terms
communicated to each other by the parties
Implied Terms
have not communicated to one another but which law inserts into contract as a term
Principles of Management
Market Segmentation
To look at your potential attendees based on a common attribute and creating value for the targeted customers
Bases of segmentation:
Geographic, Demographic, Psychographic, Behavioural
SWOT analysis
Can be used to evaluate a potential event venue to analyse if it suits the event theme
Evaluate the weaknesses of event
Outline the potential opportunities
Find out what are the strengths of the event
Threats that may affect the event process & outcome
Market Targeting
Evaluate market segment (most attractive for company to pursue)
Size & growth
Company objectives & resources
Strutural attractiveness
Business Economics
GROSS DOMESTIC PRODUCT
Business Cycle
Expansion (Real GDP increasing)
Peak (GDP at its maximum)
Recession (GDP decreasing)
Trough (Real GDP bottoms out)
Measuring Economic Growth
Using real GDP to measure economic growth of an economy of an economy
Measured by the percentage change in real GDP produced from one year to the next
Real GDP
Measure of a country's gross domestic product that has been adjusted for inflation
Catalyst
Stimulates business & trades between companies & individuals in business events
Sales & Distribution
Explain personal selling
philosophy
Types of illegal business practices
Business defamation
Gift giving
Bribery/Entertainment
Relationship Selling
Personal selling involves securing, developing, and maintaining long-term relationships with customers
To create rapport, trust, and mutual respect, salespersons must maintain high ethical standards
Factors affecting ethical behaviour of salesperson
Company policies
Characteristics of successful salespeople
Emotional Intelligence
Self-motivated
Integrity & Ethical Sales Behaviour
Communication skills
Intro to HTM
Supply of H&T Services (Attractions & Entertainment) :
Live Entertainment
Sporting activities, performing arts, fairs festivals and events
MICE
Meetings, Incentives, Conventions/Conferences and Exhibitions
Encompasses mostly business events. Leisure events like concerts or festivals fall into a different category
Entertainment
Temporary such as fairs & festivals which includes variety of activities, sights, live entertainment venues