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Terms
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- Convention
- a meeting of delegates for action on a particular matter. usually involves a general session and a supplementary small meetings. conventions are produced with and without exhibits
- all suite hotel
- a hotel that features rooms larger than typical guest rooms, with a living or working space separate from the bedrooms
- complete meeting package
- an all includisve pricing plan offered at conference centers.
- conference center
- a property specifically designed to handle gorup meetings. conference centers are often located outside areas and may provide lesiure activities.
- destination management companies
- professional management companies specializing in the design and delivery of convetion events, activites, tours, staffing, and transporation, utilizing local knowledge, expertise and resources.
- globalization
- the international consolidation of big business and growing trend for countries to allow free transfer of goods and services across national bundaries
- *second-tier cities
- smaller cities and suburbs of major cities that offer the meeting planner an attractive location and at the same time provide less costly accomodations and transportation
- trade show
- an exhibition with displays, generally held within a trade industry or discipline. May be independent or in conjunction with a convention. Not open to teh general public.
- action plans
- the specific steps taken to achieve marketing objectives.
- business mix
- the cariety or mix of guests who stay at a property. Example: Assocations, corporate, Smerf.
- competition analysis
- an evaluation of competition in order to identify their strengths weaknessess in comparison to your own.
- competitive set
- a group of properties that are the most important competition for a hotel in a given market.
- consumer research
- marketing research aimed at providing a profile of present and future guests.
- marketing
- the practice of combining, blending, inegrating and controlling the factors that influence sales
- marketing mix
- combo of product, price, place, and promotion. used to achieve marketing objectives for a target market.
- positioning
- a strategy to develop the product and service to consumers
- *revenue center
- a hotel division or department that sells products or services to guests directly generating revenue for the hotel. Include food beverage, room service, retial, recreational and other servies.
- sales
- direct efforts through face to face calls, telephone calls and mailings
- Target Markets
- market segments that a property singles out as having ht greatest potential, and toward which marketing activities are directed.
- account file
- a standardized foler holding the info needed to serve a client
- database marketing
- the process of using guest folios, registration cards and group history of meeting planners to develop relationships and dialogue with customers.
- double booking
- reserving space for two groups to use the same space at the same time, neither can be fully accomodated as contracted
- fuction book
- master control of all banquet space, broken down on each page or screen by banquet rooms with a page or screen for each day of the year.
- guestrooms control book
- a book or computer screen used to monitor sleeping room allocations to groups
- independent hotel representatitve
- an individual or firm that acts as an addition to the hotel's internal sales staff
- key account management
- prioritizing of accounts based upon their individual profit potential
- master card
- an index card that contins summary of everything need for a sales effort. Organizations name, key contacts, addresses, telephone numbers, and so on.
- option
- meeting space or guestrooms that are reserved by the meeting group but not yet under contract. A hotel extends a right of first refusal to either confirm or release the space if there is demand from another group
- reader file
- a file containing copies of internal or external correspondence generated by a salesperson. Useful for reviewing the performance of the sales staff.
- regional sales office
- sales offices for chair of properties that arelocated in places other than the property.
- relationship marketing
- marketing that views customers as assets and emphasizes retaining customers by nurturing and sustainnig relationships with them.
- revenue management
- the practice of assessing a groups overall profitability on the property's bottom line. Groups impact on all areas of the hotel.
- (SOP) standard operation procedures
- written instruction explaining how business activities should be handled
- tickler file
- a follow up file used to remind salespeople of correspondence, telephone calls, sales calls or other business activities that must be handled on a particular day. Usually on computer these days.
- working file
- a file set up as soon as a booking is definite, containing information relevant to the event.
- yield management
- a technique used to maximize the reveue/profit of the hotel by basing prices for guestrooms and banquet space on supply and demand
- association
- a group of people joined together for a common purpose
- assocation bid
- a regional chapter requests the honor of hosting a national convention.
- association managment companies
- firms that function as the executive and office staff for a number of associations.
- breakout session
- small group sessions within the meeting, formed to discuss specific topics.
- concurrent session
- meeting sessions on different topics scheduled at the same time.
- general session
- the main meeting attended by the majority of the association members.
- lead time
- the time between the booking and the actual meeting date.
- local host
- a group of local people who carry out the strategies and policies established for the organization of an event held in their geographic area.
- site inspection
- tour of the property conducted by the representatives of the association or corporation in order to determine whether the hotel is suitable to host the meeting.
- account penetration
- the process of determining new sources of business within an organization.
- incentive meetings
- meetings held during incentive trips given to employees distributors and dealers as a reward for top performance.
- sales meeting
- often a meeting dealing with such company objectives as product introduction, sales policies, company goals, etc.. morale.
- stockholder/public meetings
- meetings of non-employees
- third party meeting planers
- outside individuals or firms who handle meeting planning for companies. services may include site selection, negotiations, and assisting all phases of staging the meeting.