Airline tickets, food and beverage and related items are going up faster than planners can adjust. Hotels, destination management companies, transportation providers and suppliers in general are all affected by oil price increases. Industry leaders say that fares may increase by another 20%. Every penny of increase in oil price exacts an extra $1 billion a year from consumers. Smith Travel Research, however, reported a leveling off of increased hotel rates because of reduced leisure demand and weakening of corporate travel (Dos).
High fuel costs indirectly affect food and beverage costs (Dosh, 2008). Transportation expenses also go up for shipping food items. Farmers who divert land for planting crops intended for ethanol production are likewise raising their prices. Planners try to address the prince increase in food by paring down menus, pre-determining the number of servers per meal and choosing a complete meeting package or CMP, or getting a discount by opting for the day's menu. To reduce on transportation expense, some event planners schedule fewer pick-up locations, negotiate a fuel surcharge formula as oil price go up. They also negotiate for ancillary charges or free value adds, flexible attrition fees and later cut-off dates with suppliers and room upgrades in hotels (Dosh).
Ethical Issues and Implications
Ethical situations, which often develop, include gifts or kickbacks in connection with commission procedures, bookings at venues and subcontracting (Van Der Wagen, 2011). Confidentiality of information, such as client databases and those of celebrities, overbooking and overprices are other ethical issues (Van Der Wagen).
Ethics has become a sensitive matter in the event and convention industries. Ethics may be intentionally or unintentionally violated. Present-day event planners cannot avoid such situations for which they need a personal, professional and corporate code of ethics in drawing the acceptable line of behavior (Allen, 2004). Employers with a high moral sense want to be sure that their employees are beyond reproach. For their part, employees do not want to be thought of as negotiable for a lunch, a...
Planning & Marketing Conferences & Workshops The importance of planning Getting feedback from others Administering a workshop or conference The details of work that can be done in conferences Preparing for a conference Facilities available at conferences At the outset of this exercise, we must start by defining planning and this has been defined as a proactive decision making within an organization. The importance of planning and marketing can start an ongoing process that helps an organization
I think that proper networking and research on who is making quality products, and finding a vendor with a good track record of customer satisfaction would be crucial in getting a positive consumer reaction. Networking Networking is invaluable when you do not miss opportunities that are available just from people talking about your product. Some of the smaller stores are involved in fairs and events where products can be introduced to
Hotel industry is currently in the middle of its economic cycle. The industry tends to be strongly affected by macroeconomic conditions. When the U.S. slipped into recession in 2008-2009, the hotel industry slumped as well. As Turner (2010) notes, "trading volume fell sharply…lodging operating metrics of RevPAR and ADR deteriorated accordingly." While the economy recovery somewhat over the past couple of years, there are signs now that growth is slowing
Significance of the Study This study is significant because it sheds light on a very important contributor to local and international trade. Trade fairs have a long history in providing a meeting place for buyers and sellers. They are an important channel of communication for B2B buyers and sellers. This is a significant area for study because there are limited channels of communication between B2B buyers and sellers. The previous sections
S. production value. Exports account for approximately half this amount (Binnquist, Lopez, and Shanley). Figure 2 portrays three views of bamboo. One: A bamboo forrest; Two: A bamboos shoot; Three: A bamboo grove walkway. Figure 2: Three Views of Bamboo (adapted from Stickman). As bamboo production levels have risen, the amounts of raw materials needed to facilitate the production have simultaneously increased. The bamboo industry in Anji predominantly harvests bamboo from plantations,
Marketing Planning This marketing plan details Itcorp's business model. It addresses the company's mission, policies, strategies and objectives to achieve profitability. Itcorp's integrated software and hardware solutions for healthcare providers are described at length, as well as objectives for the long-term. Our company Itcorp plans to begin operations starting in January 2006. One thing that is unique about Itcorp is how it got its start. In 1988, two partners, Max Renfield and C.L.
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