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| Similar to a forum except the conduct is more formal.There is less audience participation than a forum. |
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| The seminar format tries to get away from the idea of a presenter or presenters addressing an audience from a platform. It usually involves much participations, much give-and-take, a charing a knowledge and experience by all. |
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The 4P's are: Price Product Place Promotion |
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| An event held in conjunction with another meeting, such as a convention. |
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| Steps of a marketing plan |
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1- Conducting market research 2- Selecting target markets & positioning your property 3- Establishing objectives and action plans 4- Reviewing & monitoring the marketing plan |
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| Prioritizing of accounts based upon their individual profit potential |
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Meetings held during incentive trips given to employees, distributors, and dealers as a reward for top performance. |
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| Meetings held to update pesonnel in new company policies, methods or procedures. Usually fairly small in size. |
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| Insurance company meetings |
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| Most company use insurance |
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| contacting potential clients in a concentrated area over a brief period of time used for both reacting and qualifying new prospects |
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Convention and visitors bureau |
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Attention, Interest, Desire, Action Get people attention, make them interest, let them desire, make them take action |
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| food prepared tableside on cart or a gueridon. |
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| Food prepared in kitchen, served from platters on to guests plates. |
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| Guests serve themseves from an array of choices. |
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| Most common form of banquet service, Food is prepared in the kitchen and presented on guest plates. |
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| First course on tables when guest arrives |
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| Guest have choice of entrees |
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| Is to purchase advertising space or time from a specific media company for a limited amount of time. |
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| Signed contract, few weeks before convention, at the begining of the convention, at the convention, before you leave the convention |
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| Protect both planners and hotel |
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| Methods of making hotel reservations |
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| A summary of all group's activities, billing instructions, key attendees, recreational arrangements, arrival and departure patterns, and other important information. |
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The deadline for holding the number of guestrooms booked by a group(The last day a meeting attendy can buy a guestroom from the room block reserved for the meeting) |
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Banquet event order: A form that provides a detailed breakdown of a single event |
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Contact person Type of function Time of event Total number required including set up and break down # of attendees Set up requirements Rate charged |
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Chairs set up in rows facing head, stage or speaker. Number of aisles may vary, some varietions are V-set up and semicircular. Also called auditorium. |
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School or Classroom Set up |
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| Table 6 feet by 18 inches are lines up in rows on each side of a good sized center aisle. Usually 6 chairs to two tables. All tables and chairs face the head table. Variations are V-shape and perpendicular style |
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Beverage plan for banquets or other funtions in which the guest do not pay for drinks; the host is charged eitherby the drink or by the bottle.It's also called open bar |
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Self-service bar at which guests make their own drinks. This type ofbar is always hosted. |
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| Guest pay for their own drinks. Also called no-host bar or C.O.D bar |
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| Process during which attendees pay convention registration fees and receive packets out-lining the convention program |
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Manager walking arround Surveillance, cameras Hire secret shoppers |
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| Counting Back change 6 steps |
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Step1- Announce the total owed by the guest before accepting payment Step2- Place the currency in a place visible to the guest Step3- State the value of the payment Step4- Verbally count the change upward, from the smalliest coin t the largest denomination Step5- Place the change directely into guest's hand Step6- After the guset has acknowledged the correct change has been received, place the bill in the cash drawer. |
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1-Restrict access to cash drawers 2-Keep cash drawers closed when not in use 3-Keep cash drawers locked when unattended 4-Store very large bills in a secure place, such as under the cash drawer or in a drop safe 5-Move cash, checks, and credit card receipts to a secure safe at regular intervals 6-Count money and payment card receipts from servers at the shift's end 7-Store money in the safe in counted-out cash register drawers or durable pouches |
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| Tracking and collecting receivable 4 steps |
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1- Record receivables accurately 2- Generate bills and invoices promptly 3- Collect delinquent accounts effectively 4- Record, store, and deposit payments |
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Recorded amount of money owed for a specific amount of time tipically 30, 60,90 1- Record the total amount of money owed 2- Record the lenght of time the money has been owed 3- Indicate the percentage of money owed for less than thirty days thirty to sixty days sixty to ninety days More than ninety days Document when the report was generated |
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Effective managers: Control costs Determine costs Cut costs Measure rising costs Eliminate costs Estimate costs Budget for costs Forecast costs |
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Controllable and Noncontrollable costs |
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Controllable Costs are directly controlled by management such as labor, Cleaning supplies and food. Noncontrollable costs are not directly controlled by management such as rent payments, insurance premiums, costs for licences, tax assessments |
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Fixed, Variable and Semi-variable costs |
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Cost that remains the same regardless of variations in sales volume such as rent, garbage pick up. Variable cost increase and decrease in direct proportion to sales exple: Food, beverage, utilities. Semi-variable cost will increase or decrease with change in sales volume, but not in direct proportion such as rent, utilities |
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| What is an operating budget? |
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A financial plan that is often prepared monthly but that can be develop for longer or shorter period of time. It lists -An estimate of revenue - An estimate of expenses -An estimate of profit (or less) for the period |
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| hourly employees, bell person,food server, room attends, door attendants, group function and banquets |
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| Reasons for budget development |
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1- To provide a standard for comparison essential for good control 2- To allow management to anticipate and prepare for future business conditions 3- To help managers self-evaluate the organization and its progress toward financial objectives |
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| Forecasting sales revenue |
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The first step in creating an operational budget is to forecast revenues. Forecasted revenues are based upon: The number of guests to be served The amount each guest will spend |
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| Forecasting sales revenue sources |
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Historic sales reports Historic production records Current sale trends Sales average |
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| What is a profit & loss report |
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A profit & loss report also called income statement is a management tool that compares expected or budgeted results. It contains a summary of sales information. Contains a summary of expense information |
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