Sports Marketing and Risks

¶ … Management The Sport Marketing Association (SMA) holds a conference every year in an effort to bring together sports marketing practitioners, scholars, and students throughout the U.S. The conference, a three-day event, is held in November, and is often hosted by the sport marketing or related department of a top university in the country. The event provides an ideal opportunity for sharing knowledge as well as business and social networking. Temple University's School of Sport, Tourism, and Hospitality Management is seeking to host the 2018 conference.

This paper provides a plan for preparing for the event. The paper specifically pays attention to the following aspects: hotel identification, income and expense determination, day 2 and day 3 evening reception options, potential risks, planning timeline, and possible schedule changes. Hotel Selection Selecting the venue or location to host the event is generally an important aspect of the event planning process. It is important for the event planner to choose a location that is suitable for the event and convenient for the attendees.

Choosing the event venue is often guided by factors such as the nature of the event, number of attendees, characteristics of the attendees, logistics, accessibility, as well as the availability of hospitality services (Fenich, 2015). These aspects will be particularly put into consideration when determining an appropriate hotel for the conference. The conference will have 120 attendees, who will use approximately 255 room nights. The attendees, who include sports marketing professionals, academicians, and students, will come from colleges and universities around the U.S.

It is important to choose a hotel that is appealing and convenient for this demographic group. Selecting a hotel that meets the expectations of the attendees will be crucial. Since the event will be hosted by Temple University, it is quite obvious that the conference will be held in Philadelphia, which is the main location of the university. As the largest city in the state of Pennsylvania, Philadelphia offers a suitable location for the conference.

The city has two major airports as well as an extensive road and rail transportation system. This will make the venue easily accessible. There are several hotels in Philadelphia, and settling on one can be a daunting task. With the internet, however, one can easily compare different hotels before making the final choice. Popular internet sites that can be used include Tripadvisor.com, Cvent.com, and Uniquevenues.com. These sites provide detailed information about the locations, sizes, services, facilities, and ratings of different hotels.

Extensive comparisons will be made so as to come up with a choice that meets the needs and expectations of the attendees. Contacts through phone calls and emails will also be made to seek clarifications if needed. As some information, may not be included on websites, such as site flexibility and availability of facilities for the disabled, it is often appropriate to request for further information via a call or email. It will not be enough to just make comparisons over the internet.

Generally, websites tend to be marketing-oriented, and there could discrepancies in the information provided on the website and the actual service. It is, therefore, crucial to conduct a site inspection. From the websites, a list of the three best hotels as per the requirements and specifications of the event will be selected. The event planner will then physically visit each of the three sites to evaluate their appropriateness for the event.

The evaluation will focus on aspects such as room size and features, conference facilities, as well as layout and seating arrangements. Following the evaluation, the best option will be selected. The event planner will then engage in a series of negotiations with the management of the hotel to secure a good deal for the event. This can be a good opportunity to get a discount and better terms. Income and Expenses Budgeting also comprises an important aspect of event planning.

It is important for the event planner to have an understanding of the revenue and expenses associated with the event (Fenich, 2015). The first step is to determine the sources of revenue. The major sources of income for an event include registration fees, sponsorship, and ticket sales. For the SMA conference, the major sources of income include registration fees and ticket sales. Registration fees generally vary with the type of attendee. SMA members, SMA non-members, SMA student members, and SMA student non-members are all charged differently.

For tickets, attendees can purchase tickets for the various happenings associated with the conference, including the opening reception, the president's luncheon, special events, SMA awards luncheon as well as night social networking. This provides an additional source of revenue for the conference. Given the expected attendance, the anticipated amount of revenue can be readily determined. Understanding the amount of revenue available or expected is important for determining expenditure. Prudence in financial management typically requires spending what is or can be available.

The first step in determining expenses is to list all the possible costs. Ordinarily, event costs are incurred in aspects such as personnel, logistics, accommodation, food and catering, telecommunication, exhibition, facilities, administration, marketing and promotion, registration, programming, as well as licenses and permits. Not all these items will be relevant for the SMA conference. The major expense items for the conference will include accommodation and facilities, marketing and promotion, registration costs, programming expenses, as well as personnel and travel and logistics.

Accommodation and facilities is a broad item, with components such as food and beverages as well as telecommunications (such as sound and projection equipment). Indeed, these aspects will be considered in the selection of the hotel. There are numerous hotels that offer not only accommodation and meals, but also conference-oriented facilities such as telecommunication equipment. Marketing and promotion will be important for raising awareness of the event. This will involve both conventional techniques such as posters as well as online techniques such as the University's website, email, and social media.

Registration costs will involve expenses incurred in the enrolment of attendees. This will include items such as online and on-site registration as well as tickets, ribbons, and badges. Programming expenses must also be considered. An event of this nature requires a master of ceremony and keynote speakers, which involve expenses. Finally, personnel costs include expenses that will be incurred by the event team in planning and managing the event, before and during the event. For instance, the event team will need to conduct site evaluation.

Expenses will also be incurred in processes such as transporting attendees to the reception venue, which may be outside the event site. Though these are the major expenses associated with the conference, there could be other minor expenses. These will be taken care of in the miscellaneous budget. Day 2 Evening Reception Receptions are common in events such as conferences. They are often intended to provide an opportunity for attendees to catch up with old friends and acquaintances as well as make new ones.

In the absence of a reception, attendees are likely to meet and interact with only a few people. The SMA conference normally takes three days, with a reception often slotted for the evenings of the second and third days. It will be important to incorporate exciting activities to make the evenings fascinating after an exhausting day of speeches and presentations. For Day 2, consideration can be made to a cocktail party or a gala dinner.

A cocktail party can be particularly important given that the conference brings together sports marketing professionals, scholars, and students. It can offer an ideal opportunity for both social and business networking. Furthermore, slotting it in the second day of the conference can offer an early opportunity for attendees to mingle with one another. For the cocktail reception, it is important to make it clear to attendees that only drinks and appetizers will be served.

In addition, it may be more appropriate to hold the cocktail at the hotel as opposed to an off-site venue. A good conference hotel will often provide adequate space and services for a cocktail reception. A gala dinner would also be appropriate for Day 2. Unlike a cocktail party, which tends to be more formal and less lively, a gala dinner often features dancing, entertainment, as well as meals and drinks. A gala dinner offers a perfect moment to unwind after a tiresome day.

It provides an opportunity for not only mingling with fellow attendees, but also entertainment. Indeed, a gala dinner would be ideal for an annual event of this nature. Day 3 Evening Reception For Day 3, consideration can be made to a dinner party or a special gathering. Being the last evening of the conference, a dinner party can be an ideal option. Unlike a cocktail reception, where mainly drinks and appetizers are served, a dinner party provides both drinks and meals.

The dinner party can be held at the conference site or outside the hotel. Nonetheless, it may be more ideal to consider an off-site venue. This may give attendees more reason to attend the reception. Furthermore, being the last evening of the conference, attendees may prefer socialising at an off-site venue. They may want an opportunity to get out of the conference site as they extend their social interactions. A special gathering would also be ideal for Day 3.

This may take the form of a special event for celebrating, acknowledging, or awarding outstanding association members and speakers. It may also take the form of an event for connecting students with professionals in the industry for career advice and opportunities. Whatever the form, a special gathering for the third evening would provide a valuable opportunity for social and business networking. Potential Risks The importance of risk identification and mitigation in event management cannot be overemphasised (Fenich, 2015).

Events present significant risks, which if not clearly identified and managed can result in dire consequences. The event planner must identify the risks and consider measures to avoid or minimise their likelihood of occurrence and impact. There are a number of risks that ought to be considered in this case. These include technical failures, food and beverage risks, theft, insecurity, and cancellation of attendance. Technical failures denote breakdowns that may affect telecommunications equipment such as sound equipment, projecting equipment, and computers.

Conferences rely on these devices for purposes of communication and presentations. A breakdown, therefore, can result in frustrating interruptions. It may cause delays in presentations, disruption of the schedule, and annoyance on the part of attendees. Measures should be put in place to avoid the risk of technical failure. Having backup equipment, for instance, would be an ideal mechanism to prevent the risk and impact of technical failures. Food and beverage risks denote risks presented by the consumption of contaminated foods and beverages.

This is a particularly important risk to consider when planning a conference event. The meals and drinks served at the conference site may be victims of poor storage and hygiene practices as well as spoilage and contamination, the consumption of which may cause minor or severe sicknesses. Though such instances may not be common in hotels, the event planner cannot afford to ignore their possibility.

The event planner should be diligent enough to ensure the selected hotel adheres to stringent hygiene practices as far as the storage, preparation, and service of foods and drinks is concerned. This is in fact important for avoiding liability issues. The risk of theft also cannot be understated. A conference brings together several people, some of whom may have malicious motives. Some individuals may be out to steal valuables such as mobile devices. Measures such as cautioning attendees to remain vigilance and watchful of their valuables should be considered.

Closely related to the risk of theft is the risk of insecurity. Hotels are some of places in which robberies, shootings, and terrorist activities occur. It will be particularly important to take this risk into consideration. Measures such as frisking of attendees and disallowing weapons should be considered. Finally, the possibility of attendance cancellation should be considered. Some attendees may call off their participation in the conference. This can be detrimental to the conference, especially if the cancellation is done too late or by a key presenter.

Cancellation may affect event revenue as well as the schedule of activities. For instance, some activities may be removed from the programme, causing disappointment to attendees. The event planner should consider measures that can be put in place in the event of a cancellation of attendance. Identification and mitigation of the above risks will be integral to the success of the event. After identifying the risks, the event planner must carefully evaluate their likelihood of impact and degree of impact using qualitative or quantitative techniques, or both.

This is important for knowing the risks to prioritise and those not to. It is also important for determining the right mitigation measures. Timeline The conference will be held in November 2018, meaning there is approximately a year for planning the event. Prior to developing a timeline for planning, the event planner must clearly understand the activities that would require to be undertaken before and during the event to make it a success. A number of activities will be involved in planning the conference.

These include determination of the precise date, site search and selection, confirmation of keynote presenters, determination of program schedule, determination of reception activities, and setting up attendees' registration. Other activities will include marketing and promotion as well as meetings and consultations with key stakeholder such as faculty members at Temple University's School of Sport, Tourism, and Hospitality Management. The table below provides the timeline for planning the conference.

Activity Timeline • Meeting with the head of Temple University's School of Sport, Tourism, and Hospitality Management • Define objectives and expectations of the event • Confirm precise event date 12 months to the event • Select the theme of the event • Identify and contact possible keynote speakers • Decide general outline of the event as well as program schedule • Determine sources of revenue 9 months to the event • Venue search and evaluation • Communicate possible venue • Initiate online registration • Determine deadline for registration • Initiate marketing and promotion activities 6 months to the event • Assemble event team • Meet with event team • Assign roles and responsibilities • Tentative budgeting 3 months to the event • Venue selection • Book.