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Event Planning
test 2
Question | Answer |
---|---|
target market | a specific group of people/consumers at which an organization aims its products and services |
rifle approach | pinpoint message to specific markets |
shotgun approach | opposite of rifle, message is widespread, not targeted. many exposed to the message who are not interested in your product or service. |
advertising more contro; | promotional activity paid for by the organizatio... the event manager can be manipulating the message. Examples: tv, newspaper, radio, magazines, internet, and billboards. |
the key to success is... | rifle your message. |
publicity more believable | coverage of your organization or an individual within your organization by the news media. |
public relations | deals with the relationship of the organization to the public... trying to maintain a good public image... present the organization in the best possible light |
goals of PR | 1. to obtain favorable publicity 2. to have the organization accepted as "good citizens" 3. to identify the organization with education 4. to humanize the organization 5. to counteract rumors of negative publicity |
fixed costs | remain fixed relation to the number of participants (as well as sales volume) |
variable costs | change according to the number of people who participated (also varies with sales volume.) |
back end deal | entertainer receives a performance fee... will receive more if attendance reaches certain levels. |
Average Cost Pricing | implemented price to cover associated with the event AKA: full recovery cost. |
soft ticket | ticket price is lower because part of the ticket price is subsidized by SAA used at Universities |
hard ticket | used by commercial venues... price intended to cover cost of performance and provide a profit. |
merit pricing | establishing a price where individual users only pay part of the cost. non users benefit |
ACP= | TFC/# participants + TVC /# participants |
Merit Price equation | AFC + AVC - Avg. Subsidy |