What does MICE stand for?
Meetings, Incentives, Conventions/conferences, exhibitions/events
Direct impacts
consists of the direct spending and jobs that are involved in planning and producing meetings, for participants to travel to meetings, and other meeting-related spending.
Indirect Impacts
represents downstream suppliers, industry impacts, and also referred to as supply chain impacts.
Induced Impacts
occur as employees spend their wages and salaries in the broader economy.
Three major "players" in the meeting industry are:
The host- decides they want to have a meeting
Meeting planner- runs the process of executing that meeting
The suppliers- who provide services in the execution of the meeting such as hotels, florists, and good operations
Which meeting usually has the largest amount of attendees?
Tradeshow
Universities also can serve as meeting facilities. T or F
True
Boutique/Lifestyle Hotels
Suitable to embody the interests, attitudes, and opinions of a group/culture
Airport Hotels
Usually have owner rates than comparable downtown hotels. Planners and attendees can save on transportation costs.
Conventions/Conference Center
A property specifically designed to handle group meetings, exhibitions, and shows can accommodate larger groups. Doesn't have guest rooms but is connected to other large hotels.
Convention/Conference Hotels
Focuses on room sales and other potential revenues. May provide extensive leisure facilities
Who holds meetings?
Associations, Corporations, and Non-profit Organizations
Many associations and nonprofit groups have ____ that are involved in initial suggestions for meetings, screening, of meeting sits, and the actual planning of meetings.
Committees
Meeting management firms, association management companies, and travel agents are some examples of....
Third-party planners
List TWO trends in the MICE & Hospitality industry that we have learned in class
Association delegates spend the most money on hotel rooms and incidents. Investment in virtual/technology will triple in 2023.
Marketing
- Centers around the future
- focuses on market research, profit planning, and control
- long term considerations
- how to translate problems and opportunities in to products, markets, and strategies
Sales
- centers around the present
- focuses on volumes, current sales, bonuses, and commissions
- short term considerations
- focuses on company needs
The benefits of conducting a marketing plan
- help managers to think ahead and set responsibilities
- coordinates and unifies sales efforts
- helps to avoid misdirected and fruitless advertising
- helps evaluate the results of marketing efforts
The four steps of the marketing plan
- Conducting market research
- Selecting target markets and positioning the property
- establishing objective and action plan
- reviewing and monitoring the marketing plan
____ An evaluation of the property's facilities and services to determine strengths and weaknesses, and also known as "occupancy and activity analysis"
Property Analysis
- appraisal of what the property has to offer
- should be OBJECTIVE
- Include both EXTERIOR and INTERIOR
- include location, reputation, and quality of service
What should be included in a property analysis?
SWOT analysis
What is competition analysis?
Analyzing your company's strengths and weaknesses
What is marketplace analysis?
Evaluating factors in the micro-environment
Franchise Hotels
- Individual property owners operate the hotel under the branding and standards of a larger hotel chain
- They pay fees to the brand to use the brand name
- Consistency can be a challenge
- Less control over overall marketing strategy
Brand-owned Hotels
- Tend to have a higher level of consistency in service, amenities, and overall guest
- complete control over their marketing strategies, allowing them to tailor them to specific reservation systems
- direct access to the marketing resources and expertise
Conventional Hotel Organization
- structures within properties vary
- The sales office needs to work closely with a sales manager, convention service manager, and meeting planner
Banquet/Department
must be prepared to cope with the requests that come up as the convention nears and during the event itself.
Revenue Management Department
Increasingly important to hotels as customers come from a wide range of channels Increasingly
Which department does the sales office work closely with in convention-orientation hotels?
Convention Services Dpt
Directory of Sales
Executes the marketing plan, coordinates, and directs the efforts of the sales staff
Director of revenue management
Decides the price structure to maximize profits through forecasting demand and researching the potential profitability of groups
Director of Marketing
Leads the marketing and sales effort by setting objectives, and strategies, and monitoring/control
Convention Sales Manager
Solicits convention trade for the hotel
Convention Service Manager
Coordinates and services the conventions booked by the property
Tour and Travel Sales Manager
Develops group and chatter business for the hotel
Director of Advertising and PR
Coordinates all promotional materials, promotions, PR, and advertising
Sales Stuff
The key to sales success; face-to-face. contact with clients; requires excellent organizational, written, and verbal
Standard Operating Procedures
- Explain how recurring business activities should be handled
- Provide a reference for sales and catering personnel
- Is a great tool for training new sales people
To ensure that the sales office is operating at top capacity, it is necessary to ____ review both the salespeople and the organizational structure itself.
Periodically