Questions and Answers
Which of the following is NOT a common revenue source for event organizers?
Tax refunds.
The economic impact of events extends beyond the direct sales generated
True.
Which of the following is NOT a key characteristic of events?
Intangibility.
Which type of event often becomes synonymous with the name of the place?
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What does MICE stand for?
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Which of the following is correct?
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Without deadlines, it becomes easy to push goals to the back-burner.
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As a member of the student council, you are organizing a student festival at Sejong University. When choosing the event date, which of the following factors may be the least important to consider?
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Which of the following may NOT be considered when choosing an event venue?
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A(n) ______ is a non-profit organization that provides information, resources, and support for the hospitality and tourism industry.
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As a rule of thumb, what percentage of our event budget should we aim to allocate for contingency funding?
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Which of the following is a post-event duty for event planners?
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Study Notes
Event Planning Key Facts
- Sponsorships are a common revenue source for event organizers, but the economic impact of events extends beyond direct sales.
Characteristics of Events
- Events have specific dates, times, and durations.
- Events are not permanent, they are temporary.
Types of Events
- Place-based events often become synonymous with the name of the place.
MICE Industry
- MICE stands for Meetings, Incentives, Conferences, and Exhibitions.
Event Planning Tips
- Deadlines are essential for achieving goals, as without them, goals may be forgotten or pushed back.
- When choosing an event date, the least important factor to consider may be the organizer's personal schedule.
Event Venue Selection
- When choosing an event venue, the organizer's personal preferences may not be considered.
Hospitality and Tourism Industry
- A destination management organization (DMO) is a non-profit organization that provides information, resources, and support for the hospitality and tourism industry.
Event Budgeting
- A rule of thumb for event budgeting is to allocate 10-20% for contingency funding.
Post-Event Duties
- Evaluation and review of the event's success is a post-event duty for event planners.
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