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70 Cards in this Set
- Front
- Back
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Heortology
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Study of festivals
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Festivals in Ancient Egypt
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Pantehism-Celebrating the gods
Stages well organized events. First to keep records of their events |
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Ancient Greece
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Olympic games and strategically planned
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The Romans
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Masters at absorbing the best activities of conquered nations
"glory of Rome" |
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Event within the community
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Increase in visitors, economic gain, sense of pride
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Authenticity
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community's image, spirit.
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Benefits of strategic planning
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clear focus, administration and stuff are close-strong team, solving major problems
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Strategies for strategic planning
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Goals based
Issues based organic or growth based |
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Planning backwards
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Identify desired completion date-Review and make changes
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Linear planning
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Process moves forward allowing you to visually track progress
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Cyclical
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can return to prior stages of process to change elements
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Strategic Stakeholders
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core group of influential stakeholders identified and invited to participate in the planning process
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Gantt charts
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Time/task management
track expenditures related to each allowing for a current of the status of the project budget |
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Economic impact
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Number of visits X average spending per visit X multiplier
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Perishability
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Events are usually not long-term activities; each time the event is offered it is different.
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Resident Expenditure
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do not represent new or outside money
switched spending |
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Visitor Expenditure
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time switchers, residents and casuals must be culled from the respondents to any survey
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Impact costs
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Additional equipment, supplies, and time invested
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Displacement costs
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the event can displace activity by other people
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Opportunity costs
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Special event takes money and reduces potential opportunity
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Event pricing
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based on value of event, cost associated, projected attendance etc
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Maximizing event revenue
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Supply and demand, real or perceived benefit provided to the buyer, perceived scarcity
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Fiscal management and how it impacts events
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fiscal management plays a critical role in the success of events. The vast majority of events must generate revenue and be financially successful and without a keen focus on the finance portion of the events even the most popular event can fail. Proper fiscal management can help an event grow and become an annual event.
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Accounting functions
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tracking daily sales transactions- Audit
purchasing of goods and services issuing and administration |
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Line item budget
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identifies ares of expenditure that are coordinated with purchasing policies and procedures of the organization
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SWOT
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Strengths, weaknesses, opportunities, threats
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stakeholders
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individuals who might benefit positively or negatively by an event
EX: sponsors, safety, emergency providers |
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Apple Harvest Day
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Organized by Mike Mengers
5K race, food, entertainment and fun Sponsors: Federal savings bank, H&R block, Northeast credit union |
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Powderkeg Beer and chili Fest
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Organized by Greg Bisson
Sponsors: Collier International, Honda barn, Draft magazine |
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Accounting
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process of recording, classifying, and summarizing financial transactions
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Six steps in accounting process
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identify, set up accounts, record transactions, summarize transactions, prepare reports, analyze the report
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Budget
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Plan for and allocate and spend funds for an event
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Items that typically fall into income for events
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Ticket sales, vendor fees, merchandise, sponsorship, parking
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Items that typically fall into expenditures for events
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Utilities, sponsorship, merchandise, marketing/ad, planning
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Appropriation
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Amount of money approved for spending and may be less than or exceed the amount of the original request
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GAAP
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General accepted accounting principle
Standard Framework of guidelines for financial accounting Includes standards, conventions, and rules |
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Cost savings purchasing strategies
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Buying when demand is low, buy in bulk
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Event Parameters
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projected attendance figures
Demographics of anticipated attendees Risks inherent in the type of activities being offered at the event What do you think is going to happen |
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Standards and codes
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Food-handling regulations
sanitation codes Building and construction codes Electrical codes Traffic codes |
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What do Local safety officials provide
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Provide staff and volunteers with the most up to date information and training; open the lines of communication between your event workers and public safety professionals.
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Define Prevention
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reduce the frequency and severity of risk events
Also requires record keeping |
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Negligence
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failing to conform to acceptable standards of care resulting in some form of injury to another party
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Prudent Person
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Using good judgement, being wise and sensible
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Event risks
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Health, safety, and food quality issues
unexpected weather occurrences Accidents and injuries technology failures Negative publicity theft, vandalism, fraud, sexual harassment Contractual difficulties |
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Evaluation
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Accidents and incidents should be documented using standardized reports completed by appropriate members of the event team.
training of staff and volunteers regarding risks. evaluated through surveys of those receiving the training Police, safety, traffic, and health officials must be properly documented |
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what is sponsorship?
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negotiated exchange of mutual benefits between two or more parities
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Why events are a good fit for companies to seek sponsorship?
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Events allow the consumer to be introduced to and interact with a product in a recreational setting
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What are in-kind-services?
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benefits provided by a sponsor that support the event but are not necessarily a financial resource
Ex: food, beverages, etc |
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ROI
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Return on the investment for the resources dedicated to the event opportunities
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Sponsor benefits?
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Increased awareness, image enhancement, product trials or sales opportunities, Hospitality opportunities
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Sponsorship agreements
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Identifies all parties, states the intended goals of the sponsorship, describes satisfactory levels of performance
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Risks of sponsorship
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Loss if the sponsor's needs are underserved
Environmental conditions Postponement or cancellation Low attendance |
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Pricing a sponsorship package
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research the local advertising market
develop pricing for signs, banners, photos etc Booth space, product sampling, backstage passes etc |
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Importance of follow up post sponsorship
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pricing levels of sponsorship in subsequent years should be adjusted to reflect any increases in the costs associated with providing the sponsorship benefits
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Common ways events are marketed
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Print media, electronic media, social media, human dynamics
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Variability
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services or products provided vary greatly from one event to another resulting in no two events being exactly the same
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Inseparability
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the actual product or services provided and the experience of the visitor are inseparable; especial events are about the experience
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Audience-consumer research
3 items to know? |
A demographic analysis of the potential attendees and their spending patterns.
A thorough understanding of visitor needs. Insight into the decision-making process of potential visitors and their expectations regarding quality. |
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5 characteristics of the marketing mix?
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Product, price, promotion, place, position
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publicity
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Result in both positive and negative reporting about your event
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Tangible results
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media exposure; increase in number of sponsors; increase in sponsor dollars; ticket sales; concession sales; coupon returns; internet site hits.
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Intangible results
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event identity establishment; image enhancement; increased awareness
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Internel information when it comes to events
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The data collected from organizers, workers, volunteers, contracted employees, ands sponsors that helps to clarify the achievement of the event marketing objectives
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External information when it comes to events
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Comes from participants and other stakeholders not involved in the planning and implementation of the event
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Public relations
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Public relations-directed by the event organizers in order to develop a mutually beneficial relationship with news media
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Casuals
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Visitors that are already in the area and discover the event after their arrival
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Ripple effect
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the effect of new money spent in the community
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Public trust
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When the company is given money by the people through taxes and the people trust their judgement with the money
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Generic
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chain restaurants, amusement parks, big box stores
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Risk management
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Identify all risks- weather, accident and injury, tech, mismanagement
assess risk occurrence Assign value to each potential occurrence Develop education and training program for employees |
