Venue Management Test 2 Latest 2023 Guide with
complete solution
co-promotion
joint participation in the revenues/expenses and profit/loss from an event. often refer to
instances when the venue shares the financial risk and reward with an event promoter
governing body
typically refers to the highest authority of a venue's ownership level
on-sale date
the first date an event is place on sale to the public
promoter
contracted persons or companies responsible for expenses, production, and promotion
of an event
trade show
exposition held for members of a common or related industry, which may not be open to
the general public
hotel room nights
nights in a hotel reserved for and/or actually used by convention or meeting delegates
mission statement
brief statement of the purpose for which an organization was created and its philosophy
of operation
avails (available dates)
venue dates that are available for booking
production rider (performance rider)
an addendum to the event contract detailing an event's specific requirements in terms of
stage location and size, sound and lighting equipment, mix locations, catering
requirements, and other pertinent info
premium seating
offering seating that is more desirable at an additional cost for consumers who have a
higher demand with the means to attend a particular event
ancillary event revenues
venue revenues derived from sources other than rent and expense reimbursements. ex;
concessions, catering, merch, parking, decorations
tentative date
a date or group of dates held for the use by an agency, meeting planner, tenant, or
promoter on a tentative basis. may have an expiration day, after which reservation is
retracted by venue
confirmed date
a specific date or dates for which an agency, meeting planner, tenant, or promoter has
acknowledged that a date or dates, on hold for a specific event will, beyond reasonable
doubt, take place. contract is negotiated/issued for this date and waiting for signatures
contracted date
a specific date or dates for which a venue and the user have signed a formal agreement
to hold an event in a designated area, on usually after a binding consideration (deposit)
has been made to the venue
, route an event
planning the most effective route for an event to minimize drive time and expense for
performers and equipment
license application
form completed by potential venue users demonstrating the necessary financial
resources, proper insurance coverage, prior applicable experience, and ability to
produce an event
pouring rights
the award of exclusive soft-drink pouring rights in return for an annual rights payment to
the venue. against federal law to award exclusive rights to any beer, wine, and/or spirits
provider
collateral materials
materials used to support and reinforce a media advertising campaign for a venue or an
event. ex; brochures, flyers, and booklets (electronic or print)
group ticket sales
the process of selling blocks of tickets to groups. usually offered at a discount for
specific events or performances
market position
refers to the ranking or positioning of a given value relative to that of competing venues
within a designated market
complimentary tickets
ticket to an event issued at no charge to the recipient. have no monetary value and
should reflect $0 on the ticket
ancillary services
services like food/beverages, merchandising, novelty sales, parking that provide
additional revenue sources for the venue
advertising campaign
a strategic plan for advertising, promotions, and other means by which tickets for events
are advertised and promoted in traditional media (radio, tv, and print), online, via direct
mail, or by other means of general and/or direct contact
dayparts
the time segments that divide a radio or TV day for advertising scheduling purposes.
generally reflect a station's programming patterns. most common are prime time, drive
time, daytime, late night, early morning, total day, sign-in/sign-off, prime access, and
fringe.
dynamic ticket pricing
a method of pricing tickets as their value changes in response to factors including the
expected demand for tickets, day of the week, visiting team popularity, or event
predicted weather conditions
run of schedule (ROS)
broadcast time of a commercial on a radio or TV left to the discretion of the station.
scheduling its broadcast in a specific time slot or during a particular program usually
requires payment of premium
run of press (ROP)
complete solution
co-promotion
joint participation in the revenues/expenses and profit/loss from an event. often refer to
instances when the venue shares the financial risk and reward with an event promoter
governing body
typically refers to the highest authority of a venue's ownership level
on-sale date
the first date an event is place on sale to the public
promoter
contracted persons or companies responsible for expenses, production, and promotion
of an event
trade show
exposition held for members of a common or related industry, which may not be open to
the general public
hotel room nights
nights in a hotel reserved for and/or actually used by convention or meeting delegates
mission statement
brief statement of the purpose for which an organization was created and its philosophy
of operation
avails (available dates)
venue dates that are available for booking
production rider (performance rider)
an addendum to the event contract detailing an event's specific requirements in terms of
stage location and size, sound and lighting equipment, mix locations, catering
requirements, and other pertinent info
premium seating
offering seating that is more desirable at an additional cost for consumers who have a
higher demand with the means to attend a particular event
ancillary event revenues
venue revenues derived from sources other than rent and expense reimbursements. ex;
concessions, catering, merch, parking, decorations
tentative date
a date or group of dates held for the use by an agency, meeting planner, tenant, or
promoter on a tentative basis. may have an expiration day, after which reservation is
retracted by venue
confirmed date
a specific date or dates for which an agency, meeting planner, tenant, or promoter has
acknowledged that a date or dates, on hold for a specific event will, beyond reasonable
doubt, take place. contract is negotiated/issued for this date and waiting for signatures
contracted date
a specific date or dates for which a venue and the user have signed a formal agreement
to hold an event in a designated area, on usually after a binding consideration (deposit)
has been made to the venue
, route an event
planning the most effective route for an event to minimize drive time and expense for
performers and equipment
license application
form completed by potential venue users demonstrating the necessary financial
resources, proper insurance coverage, prior applicable experience, and ability to
produce an event
pouring rights
the award of exclusive soft-drink pouring rights in return for an annual rights payment to
the venue. against federal law to award exclusive rights to any beer, wine, and/or spirits
provider
collateral materials
materials used to support and reinforce a media advertising campaign for a venue or an
event. ex; brochures, flyers, and booklets (electronic or print)
group ticket sales
the process of selling blocks of tickets to groups. usually offered at a discount for
specific events or performances
market position
refers to the ranking or positioning of a given value relative to that of competing venues
within a designated market
complimentary tickets
ticket to an event issued at no charge to the recipient. have no monetary value and
should reflect $0 on the ticket
ancillary services
services like food/beverages, merchandising, novelty sales, parking that provide
additional revenue sources for the venue
advertising campaign
a strategic plan for advertising, promotions, and other means by which tickets for events
are advertised and promoted in traditional media (radio, tv, and print), online, via direct
mail, or by other means of general and/or direct contact
dayparts
the time segments that divide a radio or TV day for advertising scheduling purposes.
generally reflect a station's programming patterns. most common are prime time, drive
time, daytime, late night, early morning, total day, sign-in/sign-off, prime access, and
fringe.
dynamic ticket pricing
a method of pricing tickets as their value changes in response to factors including the
expected demand for tickets, day of the week, visiting team popularity, or event
predicted weather conditions
run of schedule (ROS)
broadcast time of a commercial on a radio or TV left to the discretion of the station.
scheduling its broadcast in a specific time slot or during a particular program usually
requires payment of premium
run of press (ROP)
