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Key accounts and contract management, Introduction to Hospitality &…
Key accounts and contract management
8Ps of Event Marketing Mix &4Ps of Marketing Mix
Place
Different in the 8Ps of the event marketing mix compared to the 4ps of marketing
In marketing, place refers to various distribution channel used to distribute the product to consumers
In event marking mix refers to the location where the event is hosted.
Product
Product refers to the service provided to customer to plan and run an event for a customer
Events company product is Service
Service Charateristic
Inconsistency
Inseparability
Perishability
Intangibility
Promotion
Promotions refer to a company’s total promotion mix which consist of tools
Direct & digital marketing
Public relations
Sales Promotions
Advertising
Price
The main objective is to generate revenue for the company through strategies
Discriminatory pricing
Bundle pricing
Psychological pricing
Volume/ seasonal discounts
Dynamic pricing (Revenue Management)
Value pricing
Promotional pricing
Event Organisation structures
Functional Approach
Team Approach
Programme based Matrix System
Network Approach
Seasonality: Calendar of Events
Seasonality refers to the peak and lull period over a calendar year
seasonal factors such as weather, school timetable, public holidays, and other major events affect the amount of visitor arrivals
STB manages seasonality via BTMICE and Events & Festival.
event categorisation
Due to covid-19, many of these events have turned into hybrid events. Hybridity is a combination of physical and virtual events, It consists of different types of business events and even target markets that include business and consumers in one event
Local Community Events
These are events focused on drawing local audiences. Benefits are localized. Eg. Community fairs, local festivals
Hallmark Events
These are large events specifically associated with a city/destination. Hugely benefits the city/destination. Eg. Singapore’s Chingay
Major Events
Good size and scale of events which can draw in overseas visitors to a city. Has benefits to the local economy. Eg. Large-scale tradeshows or conferences
Mega Events
These are huge events which impact global economies and are followed by millions around the world. Eg. Olympic Games, FIFA World Cup etc
Business Events
These are events specifically organised by and for the business community. Eg. Conferences, Seminars, Product Launches, Tradeshows etc
Small Events
These are events that are small in size and numbers. Objectives and audiences are very selective and only by invitation.
Accessibility: Venues, logistics and infrastructure
Accessibility is closely connected to transportation and is measured by the considerations
Considerations
Time
Cost
Frequency
The venue must suit the infrastructural and logistical needs of the event.
Distribution channels: drawing inbound business travelers and event tourists to destinations
, Bsiness-to-Consumer (B2C)
Direct/ Indirect Channels
Internet marketing channels
Direct marketing channels
Multi/Omni-channel marketing channels
Business-to-Business (B2B)
Business-to-government (B2G)
A “key account” refers to customers of a firm/company who have the highest level of strategic importance for the firm’s long-term performance.
Contract management
Element of a contract
Offer, Acceptance, Intention to create legal relations, Considerations
Personal Data Protection Act
Event management company must safeguard their client's personal information form misuse to not breach the trust the client in them to manage their data.
Covers personal data stored in electronic and non-electronic format
PDPA obligations include the collection of personal data, the care of personal data and the individual's autonomy over personal data
Introduction to Hospitality & Tourism
Transportation
Sales & Distribution in Hospitality & Tourism
Six-Step Presentation Plan
Step 3: Presentation
Step 2: Needs Discovery
Step 1: Approach
Step 4: Negotiation
Step 5: Close
Step 6: Servicing the Sale
Principles of Management
Departmentalisation
to the grouping of employees into different departments to complete assign task.
customers
is a stakeholder
Business Law
Principles of Marketing for Hospitality & Tourism