Association & Corporate Market Characteristics PDF

+-----------------------+-----------------------+-----------------------+ | **Characteristics** | **Association Market | **Corporate Market | | | =** group of | =** corporations/orgs | | | individuals with a | established primarly | |...

+-----------------------+-----------------------+-----------------------+ | **Characteristics** | **Association Market | **Corporate Market | | | =** group of | =** corporations/orgs | | | individuals with a | established primarly | | | common purpose, | to generate | | | usually nonprofit | profit\*\* | +=======================+=======================+=======================+ | Attendance | Voluntary -- | Mandatory, \ attrition clause | | +-----------------------+-----------------------+-----------------------+ | Decision making | Decentralized = no | Centralized -- one | | | assigned decision | person makes the | | | makers -- nightmare2 | decision | | | for hotels | | +-----------------------+-----------------------+-----------------------+ | Decision makers | Association | professionals = | | | Director/President, | fulltime meeting | | | Committee | planner, | | | Chairperson/BOD, | incentive/corporate | | | Other influencers | travel agent | | | (Sponsors/ Keynote | | | | speakers), | company departments | | | professional | related = company | | | conference organizer | president, M&S | | | | executives, | | | | advertising and sales | | | | promotion managers, | | | | other corporate | | | | executives, | | | | procurement managers | +-----------------------+-----------------------+-----------------------+ | Meeting focus | To discuss items | Training, team | | | within the industry | building, incentives | +-----------------------+-----------------------+-----------------------+ | Hybrid meetings | Very common | Common since covid-19 | | | | but now less | +-----------------------+-----------------------+-----------------------+ | Strategic meeting | Large F&B revenue | Idenfitying ROI is | | management | althought not repeat | high priority | | | visitors | | +-----------------------+-----------------------+-----------------------+ | Spouse attendance | Common to have: | Rarely, no need for | | | | getting help from CVB | | | Spouse / Guest | | | | Program = special | | | | activities planned | | | | for those who | | | | accompany an attendee | | | | -- spa&golf are the | | | | must have activities | | | | | | | | Social Program = | | | | group banquet | | | | functions / | | | | sightseeing | | | | activities (theme | | | | parties, dinners, | | | | galas) allowing time | | | | for networking | | +-----------------------+-----------------------+-----------------------+ | Exhibits | Frequent | Rare | +-----------------------+-----------------------+-----------------------+ | Duration | 3-5 days -- attendees | Short (1-2 days); | | | tend to arrive | arrival prior to the | | | early/stay after the | meeting | | | conference (in HK -- | | | | 4/7 days) | Meeting Seasons (most | | | | popular) -- | | | Common duration -- | january-march, | | | Monday (arrival) | july-septmeber \| | | | -Thursday | Monday-friday | +-----------------------+-----------------------+-----------------------+ | Room block | Require room pick-up | Stable | | | information as | | | | attendees pay on | | | | their own | | +-----------------------+-----------------------+-----------------------+ | Site selection | Variety of sites used | Seek confidence -- | | | depending on nature | reliable booking | | | of assoc | experience | +-----------------------+-----------------------+-----------------------+ | Location | Attractive major city | Purpose of the | | | locations where most | meeting determines | | | attendees can access | city and venue | | | -- accessible | | | | international | | | | flights, walkable | | | | cities, cost of | | | | destination | | +-----------------------+-----------------------+-----------------------+ | Geographic pattern | Rotation / bidding | No set pattern | | | process similar to | | | | Olympics | Resorts for relaxing | | | | & slightly informal | | | | | | | | Downtown properties | | | | for convenience | | | | | | | | Airport properties | | | | for ease of | | | | transportation | +-----------------------+-----------------------+-----------------------+ | Lead time | \ | | | | may \> april \> june | | | | \> september | | +-----------------------+-----------------------+-----------------------+ | Most important | Number, size, quality | | | factors for planners | of meeting rooms | | | | (non-neg) | | | | | | | | Food, bev, room | | | | rates, quality of | | | | food service (neg) | | +-----------------------+-----------------------+-----------------------+