1. Enumerate the key players in the MICE industry.Answers:—-——-AssociationsConvention CentersConference CentersTour OperatorsTrade shows and expositionsHotelsConvention and visitors bureausThe process of Providing an MICE event2. Explain the duties and responsibilities of eachplayer.3. Describe the different types of associations. Howdo they differ from one another?4. Discuss the economic benefits of trade showsand expositions.

The MICE (Meetings, Incentives, Conferences, and Exhibitions/Events) industry is a vital sector that…

Answered: 1. Enumerate the key players in the…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Briefly explain the description and formats of each of the components of MICE (Meetings, Incentives, Conventions, Exhibitions) Discuss comprehensively the difference between business travel and leisure travel Describe the role of MICE management in tourism industry
Your city is planning to open its new town hall and courthouse in six months. A big celebration is being planned. You have been asked to market the event, for maximum exposure and citizen participation. You have been told that a press kit is necessary, but that you should seek other marketing avenues as well. 1. What items may you include in your press kit? 2. What details must you include in your press release? 3. What other community assets may you solicit to support the marketing program?
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Scenario: Suppose one of your friends wants to develop online business. The main goal is to develop a business for freelance services and particular goods. The company of your friend will allow website owners to earn money by linking to a product for sale on his company. The companywill also allow bloggers that can be paid for ads. So it will allow business to extract value from consumer. In this scenario what type of business model of e-commerce used by the said company. Give solid reasons of proposed business model to satisfy your answer and also explain the advantages and disadvantages of that business model.
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For problems 1-3, please refer to this article on Ocado. https://www.bbc.co.uk/news/business-54352540 1. What can we say about existing rivalry in the market of online retailers? a. This force is week because of strong brands and stabile market shares. b. This force is medium level, because the market is quite concentrated but consumers are quite loyal. c. Existing rivalry is strong because the market is quite concentrated, switching costs are relatively low and the different firms' services are not especially differentiated. d. Rivalry is strong because suppliers and not concentrated and entry barriers are low. 2. How would you evaluate the threat of buyers in this market? a. It is relatively weak, because OCADO sells for final consumers who are not concentrated and have a weak bargaining power. b. It is strong, because Tesco and Amazon are large firms with larger market shares than Ocado. c. It is medium level, because OCADO cannot easily switch across its buyers.…
Event Management: Sponsorship Why do sponsoring companies or organizations change, and how might a long-running sponsorship relationship be maintained?
2. ‘Ukay-ukay’ Business. There are a lot of ukay-ukay shops in the country. Theyare filled with second-hand clothes, slight factory defects, and out-of-season fashion. Somebuyers are fond of buying ukay-ukay products because of its affordability and availability ofbranded products at low cost. For instance, instead of buying P1, 999 Levi Jeans on malls, you can buy second-hand Levi Jeans at P400 in Ukay-ukay shops. How do retailers pricethese Ukay-ukay products?______________________________________________________________________________________________________________________________________________________________________________________________________________________________3. You probably enjoy seasonal sales that takes place at certain times of the yearsuch as ‘Christmas Sales’ and ‘Graduation Sales’. Why do retailers run these sales eachyear? Do you think this strategy is effective? Why or why not?_

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