Podcast
Questions and Answers
What is the primary characteristic that distinguishes the attendance of corporate market meetings from association market meetings?
What is the primary characteristic that distinguishes the attendance of corporate market meetings from association market meetings?
Who typically has the power to make decisions in corporate market meetings?
Who typically has the power to make decisions in corporate market meetings?
Which of the following roles is NOT typically found among decision makers in association market meetings?
Which of the following roles is NOT typically found among decision makers in association market meetings?
What is a primary focus of meetings within the corporate market?
What is a primary focus of meetings within the corporate market?
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In terms of decision-making structures, how can association market meetings be described?
In terms of decision-making structures, how can association market meetings be described?
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What is a high priority concern in strategic meeting management post COVID-19?
What is a high priority concern in strategic meeting management post COVID-19?
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What activities are considered must-haves for spouse or guest programs during events?
What activities are considered must-haves for spouse or guest programs during events?
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During meetings, how long do attendees typically stay when exhibits are frequent?
During meetings, how long do attendees typically stay when exhibits are frequent?
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What type of program allows time for networking among attendees?
What type of program allows time for networking among attendees?
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With the decrease in spouse attendance, how has the need for help from CVB changed?
With the decrease in spouse attendance, how has the need for help from CVB changed?
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Study Notes
Association vs Corporate Markets
- Association Markets consist of individuals with a common purpose, usually non-profit.
- Corporate Markets consist of corporations and organizations primarily driven by profit generation.
- Attendance in association markets is voluntary, while in corporate markets it is mandatory with attrition clauses.
- Decision-making in association markets is decentralized, with no assigned decision-makers, while in corporate markets it is centralized with a single decision-maker.
- Decision-makers in association markets include Association Directors/Presidents, Committees, Chairpersons/BOD, and other influencers like sponsors and keynote speakers. In corporate markets, decision-makers are professionals like full-time meeting planners, incentive/corporate travel agents, company department representatives, and executives.
- Meeting Focus in association markets is on discussing industry-related topics, while in corporate markets, it is training, team building, and incentive programs.
- Hybrid Meetings are common in both markets, but more prominent in corporate markets post-COVID-19, with a recent decrease.
- Strategic Meeting Management in association markets emphasizes large F&B revenue, but not repeat visitors. In corporate markets, identifying ROI is the top priority.
- Spouse Attendance is common in association markets, with special activities planned for accompanying guests. Spouse attendance is rare in corporate markets.
- Exhibits are frequent in association markets and rare in corporate markets.
- Meeting Duration in association markets is 3-5 days, with attendees arriving early and staying after the conference. In corporate markets, durations are shorter (1-2 days), but longer meetings are held during peak seasons.
- Room Blocks in association markets require room pick-up information, with attendees paying personally. In corporate markets, room blocks are stable.
- Site Selection in association markets varies based on the nature of the association. In corporate markets, seeking reliable booking experience with established properties is prioritized.
- Meeting Location in association markets is attractive major city locations with accessibility to international flights and walkability. In corporate markets, the meeting purpose determines city and venue choice.
- Geographic Patterns in association markets follow a rotation/bidding process with no specific pattern. In corporate markets, there's no set pattern, with resorts used for relaxing and informal meetings, downtown properties for convenience, and airport properties for ease of transportation.
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Description
Explore the differences between association and corporate markets in this quiz. Understand key aspects such as decision-making processes, attendance, and meeting focus. Evaluate how these factors influence market dynamics and strategies.
