Event Planning Exam Study Guide 3

Where does your only source of income come from?
Clients

What are most businesses expenses?(RISU)
rent, insurance, salaries, utilities

What are variable expenses and some examples?
they are irregular and variable, often associated with particular events; they are the cost of doing business rather than the cost of everyday running the buisness - transport, travel, advertising, couriers

What are fixed expenses and what are some examples?
long term recurring costs, opposite of variable expenses - rent, sales, insurance, salaries, utilities

What are the 6 steps to follow to understand how your business is doing?
1. plans for the future 2. make predictions about your business 2. projects revenue(estimated money a company will generate during a specific period) 4. exposes upcoming expenses 5. indicates profit or loss from events 6. provides targets to work towards

What program should you use when looking at your income and expenses?
spreadsheet
excel

What type of stuff do customers spend money on which gives us the income?
tickets
grants
donations
sponsorships
Ad sales
food + beverage sales
merchandise

What type of expenses do businesses have for customers?
venue rental
security feels
food + beverage
entertainment
speakers
transportation
décor costs

What are the steps for setting up your spreadsheet?
set up columns for needed info
set up rows for various revenue(income) and expense category
research to insert info + estimates
see what expenses can be reduced without impairing the event
contract + purchase
sell for income

What are some recommendations for making money?
treat your earnings as if they're rare
make sure you really need it before you buy it
keep cash reserves
avoid fees
Get 50% down + collect the balance at the end
examine expenses
challenge your discretionary values
plan ahead
carriers
salaries

How to save money
office supplies(buy in bulk)
traffic fines
small savings add up
sign all checks yourself so you know the pain
consider financial advisor so they can help yo manage your money

How can financial advisors help your business?
they understand the event industry
helps manage finance
suggests alternations of funds which will benefit your business

What to know and include with an event proposal
they take time + may have costs
can be billed
calculate your budget as you craft your budget
include concept, artwork, printing, videos
legal, administrative cost, transportation, waste removal
entertainment, staff catering, décor cost
add 10% for unseen

What is the all inclusive invoice? What are the management fees?
the ony bill the client receives, it comes from the event planner and it includes all aspects of event
management fees run 15-20% of total amount

What is the management invoice with separate invoices? What is the management fee amount?
planner bills management fee and the contractors invoice client
management fees run 15-25% of total amount

AKA- open - invoicing
many clients prefer this method

Baby shower details
organize guest lists
set budgets
choose date + theme + location
choose menu
plan games
to do list
have guests address + thank you card envelopes
have a guest take notes of the gifts
give thank you gifts

When should you start planning baby showers and when should you send the invites?
5th or 6th month of pregnancy
4 weeks in advance

Birthday details
surround with loved ones
fav foods
activities they like

Canada's birthday tradition
butter the persons nose to ward off bad luck

Chinas birthday tradition
slurping noodles for a long life

Germany birthday tradition
birthday person buys drinks for all their friends

Jamaica birthday tradition
put flower on their face to look 'antique'

Mexico's birthday tradition
Piñata

Vietnam birthday tradition
Everyone celebrates on New Years Day

What would Aborigine men do when they are 'coming of age'?
walkabout
Have to wear a glove full of stinging ants

In some countries what do women do when they are 'coming of age'?
they present themselves to potential suitors

Details of a Bar Mitzvah:
age of girls and boys
boys become sons of the commandments
boys: 13 girls:12
formal attire
read torah
must obey the commandments
they get lots of presents
Mazel tov

Sweet 16 details
coming of age for girls in US and Canada
not many religious elements
can be formal or informal
chaperones needed
open presents the next day
thank you cards

La Quincinera Details
over the top party to celebrate God + woman hood
Mexican tradition
Catholic
Indigenous Aztec
Spanish
15 years old
starts @ church with a long mass with escorts and maid of honor
super fancy cake to match the dress
formal dinner

Debutante Details: Where did the name come from, age of the girls, who are their escorts, etc.
From French meaning 'Female Beginner'
introduced into society
Aristocrats + upper-class
Debutant balls, coming out parties, cotillion ball
very fancy
for the very wealthy
for girls ages 16-21
younger girls in the south than in the north
the NYC debutante + the families raise money for charity
they occur every 2 years
every girl has 2 escorts: 1 military 1 civillian

Graduation party details
avoid cheesy decorations
signature book, let fam speak, show a growth video, create a time capsule
watch for DUIs

Anniversary Party Details
select theme
make a guest list
create memory book and slide show
create best wish wall
take lots of pics
fun games
food and dancing

What represents 25th anniversary?
Silver

What represents 40th anniversary?
Ruby

What represent 50th anniversary?
Gold

Details of retirement parties at work
on site
co workers
décor
position
company gift

Details of retirement parties after hours
colleagues and spouse
speeches and dances
position
drinks and dinner
company gift

What to focus on with employees at retirement party
their career
achievements
character
future possibilities
make sure the retire with fond memories

Funeral Traditions
viewing
burial
service
family meal
decorate
make slide show

What do the Irish people do when it comes to funerals?
they view death as their 3rd birthday
birth, baptism, death

What do people in Madagascar do with the dead?
They dig up the graves and dance with the bones

What is Marketing?
The means of solving customers problems profitably

What to consider with marketing events and how to get the word out
involves getting your entire organization to understand the message
convey the message appropriately to potential attendees
needs to be convincing
advertising, publicity, promotions, merchandising

What is marketing through events?
Its about getting products in front of people with the best possible presentation

What are some ways to market through events?
sponsor events
sponsor parts of events
participate in events
create own events

what percentage of Americans buys a product after sampling them?
77%

How much do event marketers spend on event marketing yearly?
152 billion

What % of brands sponsor/participated in events and what % hosted their own?
72% and 60%

ROI
Return On Investment

What is event marketing ranked behind in return on investment?
Direct Marketing

Why do business's get involved in event marketing?
to sell their products

What does SMART goals stand for
Specific
Measureable
Action oriented
Realistic
Timely

What does 'Specific' mean for SMART?
well defined, clear to anyone with basic knowledge

What does 'Measurable' mean for SMART?
how much, how many, assemble

What does 'Action Oriented' mean for SMART?
contains an action verb

What does 'Realistic' mean for SMART?
able to be accomplished with existing resources

What does 'Timely' mean for SMART?
fits the situation and deadline with enough time to achieve

Examples of SMART goals
last years event exceeded by 10%
decrease expenses by 15%

What does U.S.P. stand for?
Unique Selling Propositions

What to consider when developing your marketing method
determine your U.S.P. (unique selling proposition)
why is the event relevant to the customer?
why is it different or better than other places they can go too?
What's in it for me?(what they get for attending or what do they miss by not attending

What are the 4 elements each form of marketing should obtain?
(AIDA)
AIDA
Attention- hook them
Interest- stimulate interest by showing multiple benefits
Desire- make events irresistible
Action- urge them

Some of the many examples of how to measure your event marketing sales
Count event attendance or activity participation
Look at pre-event and post-event sales
Measure amount of samples or coupons distributed
Compare web site hits or chatter
Collect attendee feedback
How many new clients or leads
Customer responses to samples, trials
Customer follow-up or follow-through
Retailer satisfaction
Use RFID to track attendee traffic and behavior

What are the 3 major goals of marketing?
1. boosting
2. Raising
3. Capturing

How do you present your proposal?
present in writing, accompanied by visual support

What is storyboarding?
Presents sequential images for the purpose of visualizing a motion picture

What is a storyboard in response of for a client?
(RFP)
Their 'Request for Proposal' which is their 'RFP'

What do storyboards outline? What do they reflect about a planner?
How you would go about staging an event
it reflects your level of organization + expertise as an even planner

When creating a proposal you should what?
learn about your client
learn about the event(learn the 5W's)
create the event design
Walk the client through the event story(discussion proposal)

When discussing a proposal with your client you need to define what?
The 5 card draw using pictures and words

When proposing the legal clauses what % should you have your client put down in the beginning, and end? also when should you ask for the second down payment?
50%
25%
2 weeks before the event

If you cancel an event 120 days in advance how much do you have to pay?
10% of the total

If you were to cancel an event 90 days or less in an event how much would you need o pay?
20% of the total

What to know when it comes to the confidentiality clause
communications may contain privileged information and disclosure, coping, distribution is strictly prohibited

When doing the agreement and confirmation with a client, what do you need from them?
payment of deposit
signed contract
confirms job: get in writing because verbal agreements can cause mistakes

How to lose a sale
Fail in the written proposal through poor grammar and spelling
Fail to persuasively
Fail to demonstrate
Fail to be organized
Fail to be professional
Fail to respect the client's event objectives

How can you maximize your chances of getting a client to work with you?
You can read the non-verbals & body language
Present and explain visual support (images, design, floor plans)
Pre-answer questions and concerns, clarify misunderstandings

What heading should you use when trying to make successful sales?
'Discussion Proposal'

Where is Winterlude held? What are some entertainment and attractions it includes? How many people does it attract each week?
occurs in Ottawa
Includes:
ice carvers
skating on the Rideau canal
Snowfall Kingdom
Culinary events
attracts 600,000 visitors during the 3 week event

Where is the largest snow playground and largest ice skating rink? What are they called?
in Ottawa they are called snowfall kingdom and Rideau canal

Mardi Gras: when + where was it first held? Where was it held after? What religion is it for? What day is it before? What are the colors associated with it? What is the inappropriate street? What do people wear?
occurs around the world in Christian countries
last day of eating and partying before lent
first held in 1703 at Mobile, Alabama: the first capital of French
New Orleans became French capital in 1723 + held its first Mardi Gras in 1737
Carnivals come before Mardi Gras
Colors: gold, purple, green
beads, masks
bourbon street

What does green represent at Mardi Gras
faith

What does gold represent at Mardi Gras
power

What does purple represent at Mardi Gras
justice

Cinco De Mayo: What day is it? What is it? What does it celebrate? What entertainment is there?
5th of May
not Mexican independence day
it was Mexico's victory over France
celebrates freedom, liberty, Mexican pride and culture
serve Mexican food
play Mexican music
Piñata

Piñata: meanings for the blindfold, colors, stick, and candy
colors = temptation
blindfold = faith
stick = virtue
candy = forgiveness and sins

Carnival: Meaning of carnival? What day? Where is it? What goes on during it? How many days before Easter does it take place? What is worn? Where is it most famous? What do parades bring?
means removal of meat
same day as Mardi Gras
huge festivals in Venice, Italy
music, dancing, sex
46 days before Easter
not much clothing but a lot of feathers, masks, costumes,
vibrant colors
most famous in Rio
parading brings good fortune

Running of the Bulls: When and where did it start? A combination of which 3 historical events? How did it start? Who does the red scarf honor and why?
started in 1591 in Pamplona, Spain
a combination of 3 historical events: livestock fair, San Fermin Celebrations, Bull Fighitng Festival
started when butchers would buy bulls at live stock fair then heard them to fight
Red scarf honors San Fermins martyrdom, San Fermins head was cut off by the French

Oktober Fest: When and where was it first held? When does it take place? What foods does it feature?
held since 1810 in Munich, Germany
takes place late sept. ends early October
features: German meats, spätzle, pretzels, potato pancakes, liters of beer

Chinese New Year: What's it called and how long does it last? What days does it start and end? Whats the month situation? Who does it honor? What dinner fo they eat and why? What does cleaning signify? What does red stand for? What are the years named for? What do the Chinese believe theyre living on? What is the symbol of hope?
'spring festival' last 15 days
the celebration varies from Jan 21 - Feb 2o
each month is 2 days shorter so a new month is added every couple of years
honors deceit ancestors
dinner= fish and dumplings to signify prosperity
clean out house for hours to 'sweep away miss fortune
lots of red for good fortune and happiness
Dragons, fireworks
years named for the 12 zodiac signs
Chinese are living on the back of a dragon
Rabbit is symbol of hope

Details about store sales
they generate impulse and profitable sales
offers stuff below normal cost
American consumers are hooked on sales
attendance is key

What do people like when it comes to buying stuff?
mark downs
special items
give away's
raffles

Black Friday details
used to be early Friday then it started Thursday now it starts before thursday
kicks off holiday shopping
stagger offers keep people coming
its on singles day in China

The 7 steps of retail fashion shows, also what are some retail fashion show examples
1. Set up + planning
2. Clothing
3. Models
4. Marketing
5. Fittings + Dress rehearsal
6. Schedule + Production
7. Keep the buzz going all year round
Examples: Valentines, back to school, Christmas

Steps to production roll out
1. Select the right timing
2. Target the right audience
3. Choose right venue
4. Grab their attention to grab their money

Features of grand openings
Ribbon cutting
Signs
Food + beverage
Invitations for the press, mayor
Press kit(maybe)
Music, prizes

What to keep in mind when you're doing a grand opening and what to include
plan ahead, keep social, keep festive
Fact sheet about the business

What are retail events
Active displays of inventory

What are the 6 steps to make retail events happen successfully?
1. Have a reason(new inventory, old inventory, change in season, etc.)
2. Make it special(service, pricing, giveaways)
3. Create an experience(private previews, invite only, transformed environment, something you cant do online)
4. Plan ahead and well(permits, entertainment, staffing, security)
5. Get the word out(media, advertising, mail)
6. Launch, Sell, Enjoy