2007 Conference Pricing Study A look at IEEE Practices & Techniques for Effective Conference Pricing Presented by: William O’Connor Director of Marketing.

Slides:

Advertisements

Similar presentations

Stock Valuation – Fundamental Analysis

Advertisements

1.Determine pricing objectives 2.Study costs 3.Estimate consumer demand 4.Study the competitions prices 5.Decide on a pricing strategy 6.Set price.

Reed Exhibitions Driving Revenue Growth and Creating Operating Efficiencies for Association and Society Events.

FY 12/13 Proposed Budget Board of Directors Meeting February 1, 2012.

MEEC Chapter Eleven Convention and Visitors Bureaus.

 Mini- All in province competitions, with the option to travel out of province.  Youth- All in province competitions, with the option to travel out.

Duke Energy Supplying power for a better tomorrow.

Special Events What You Need to Know. What is a Special Event? Primary purpose is to raise funds other than contributions to finance an organization’s.

Find equation for Total Revenue Find equation for Marginal Revenue

Eleven-Year Trends in Division I Athletics Finances.

Better Data for Better Decisions: Progress & Prospects J. Steven Landefeld, Director Measuring and Enhancing Services Trade Data & Information.

Service Sector Improvements in the National Economic Accounts J. Steven Landefeld, Director Measuring Up in a Changing Economy: A Look at New.

Recent Developments and How They Affect Marketing and Pricing Decisions By: Dini, Julene, Lengjen, Yoojin, Bryan.

© 2007 Pearson Education, Upper Saddle River, NJ All Rights Reserved. Walker: Introduction to Hospitality Management, 2 nd edition Chapter 13 Meetings,

Chapter 13 Meetings, Conventions/Exhibitions and Event Management

 Guest Speaker – Lindsey Creath  Report out on Event Description  Defining the Vision  Next Week.

Develop a foundational knowledge of PRICING to understand its role in marketing 4.07.

Thank you for joining! The meeting will start shortly. If you have not yet joined by phone, please call the number shown on the screen to the right. Dial.

IEEE Committee: Women in Engineering Allan Johnston NPSS Liaison July 24, 2010.

PERL 105 Practicum: Cost Model Seminar. Objectives  Understand the purpose of using a cost model  Gain an understanding of how to use a cost model 

PERL 105 Practicum: Cost Model Seminar. Objectives  Understand the purpose of using a cost model  Gain an understanding of how to use a cost model 

Introduction to Hospitality, Fourth Edition John Walker ©2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ Chapter 13 Meetings,

Issue: How can RUSA best meet member desire for online learning opportunities and balance value to members while creating a sustainable online learning.

ITSVA Association ITSA State Chapter Council 2008 Strengthening Workshop.

San Antonio – 2001 Chapter Chairs Workshop Funding Chapter Programs.

City of North Miami Beach Quarterly Financial Analysis Second Quarter – FY 2015 Data as of March 31, 2015.

SAACI PRESENTATION TO THE KZN TOURISM QUARTERLY GROWTH FORUM 3 FEBRUARY 2012.

Convention Center Authority Republican Policy Group Presentation February 23 rd 2015.

Town of Bridgewater Audit exit conference – Board of Selectmen Roselli, Clark & Associates November 17, 2009.

Festival Cruise Line Anthony Jordan Richard Hooper Stephanie de Roo Brenda Wolcott Cameran Jordan.

AMA Collegiate Chapters Council Keith E. Niedermeier, President Jimmy Peltier, President-Elect Report to the AMA Board of Directors June 4, 2008.

MGA Discussion on Geo Unit Reserve Sharing Region Meeting Discussion Topic Howard Michel Member and Geographic Activities April 2012.

2009 Budgeting that Makes Sense karen m. king, cmp, cmm principal meeting strategists, llc.

IAOC Report to the ISOC Board Jonne Soininen, Chair Ray Pelletier, IAD 28 March 2009 San Francisco, California, USA ®

IEEE Committee: Women in Engineering Allan Johnston NPSS Liaison March 26, 2011.

American Bonanza Society Financial Report 2010 Annual Meeting September 24, 2010.

Disclosure of Financial Conflicts of Interest in Continuing Medical Education Michael D. Jibson, MD, PhD and Jennifer Seibert, MD University of Michigan.

CME At Emory. 2 Background The Office of Continuing Medical Education (OCME) is responsible for maintaining the School of Medicine’s CME accreditation.

New Event Model – Rationale for Change Basil Hassan Vice President for Technical Activities 8 January 2012.

Division IV Director Report. Why is IEEE different from other technical societies? The breadth of activities!

Member Value Proposition: Financial Analysis TAB FinCom Meeting 17 May 2011.

MGA Discussion on Geo Unit Reserve Sharing Region Meeting Discussion Topic Howard E. Michel, Ph.D, SMIEEE 2012 IEEE Vice President, Member and Geographic.

IEEE Committee: Women in Engineering Allan Johnston NPSS Liaison Nov. 6, 2010.

Social and Economic Impacts of Gunnison County Arts & Cultural Organizations Presentation for the Gunnison County Board of Commissioners By Maryo Ewell.

Marketing I Curriculum Guide. Product/Service Management Standard 5.

AIPC 2009 Industry Outlook Survey Presentation to AIPC Annual Conference A Coruna, July 2009.

6 – 3 Adding and Subtracting, And Multiplying a Polynomial Day 2 Objective: Use polynomial operations in real – life problems.

Income and Expense Overview. We on the Lassiter Junior Trojan Football Board of Directors strive to provide you with a high-quality football experience.

Lesson 16: Analyzing the Competition. Objectives Determine who the competition is and how they are affecting your business Determine who the competition.

©2004 Pearson Education, Inc. Upper Saddle River, New Jersey Introduction to Hospitality Management, First Edition John Walker CHAPTERCHAPTER CHAPTERCHAPTER.

Marketing Plan.

The Uptake of Management Accounting Practices Among Malaysian Firms in SMEs Sector HAU YIN TING A EPPA 2033 PERAKAUNAN KOS SEMESTER 1 SESI 2014/2015.

Competitive Advantage Advantage means ‘a condition giving a greater chance of success’ (Cambridge Advanced Learners Dictionary 2005)

CORPORATE INCENTIVE TRENDS A SURVEY & ANALYSIS Page 1 January 2013 Incentive Trends.

Disney’s Contemporary Resort & Conference Center Orlando, Florida 3/9/2015.

VRA Conference Committee Report to the members November 4, 2010.

Catering Food Service Development

Economic Research Associates (ERA) Report February 17, 2004 Mark Lewis, City Manager.

St. Olaf Management Consulting Group

2017 – 2018 BUDGET PROPOSAL CONSIDERATIONS

Understanding CAEP Fees & Accreditation Costs

Budget Analysis And Review Committee (BARC)

Importance of Growth & Service

MGA Discussion on Geo Unit Reserve Sharing

4.07 Develop a foundational knowledge of PRICING to understand its role in marketing.

AESS Finance Committee April 2009

Income Inequality _________________

Every number has its place!

COUNTRIES REPRESENTED ATTENDEES FULL REGISTRATIONS 66 NUMBER OF EXHIBITORS 16 COUNTRIES REPRESENTED 19 TOTAL ATTENDANCE companies.

Fish and Wildlife Rent.

Presentation transcript:

2007 Conference Pricing Study A look at IEEE Practices & Techniques for Effective Conference Pricing Presented by: William O’Connor Director of Marketing Operations

Purpose of Study In 2001, TAB FinCom asked IEEE Sales & Marketing to provide a study for conference pricing, similar to the annual Journal Pricing Study In February 2008, TAB FinCom directed that the study be updated every two years, and the results to be shared with PoCO The most recent study was conducted in 2007

An Important Role in Revenue The fee revenue from IEEE conferences represents approximately 25% of the total revenue for the IEEE In 2006, conference revenue was approximately $86.5 million. It is, after publications, the largest business of the IEEE In 2007, fee revenue equaled $87.3 million

Why Should we be Concerned with Competitive Pricing? IEEE conferences continue to offer high quality information that is often priced significantly lower than our competition Conference organizers should consider periodic, moderate price increases as market conditions will permit Increased income may allow for better speakers, adding meal functions or receptions, and enhance even the smallest details of the event

Registration Fees are only a Portion of Total Travel Costs In 2007, the average registration fee for an IEEE conference was 24% of total attendee travel cost Airfare and hotel expenses were often equal to or greater than the registration fees A minor increase to registration fees will have little impact on conference attendees, yet will have a significant effect on revenue

Pricing Comparisons Member Registration Fees Advanced registration for IEEE conferences averaged 23% less than their competitors On-Site registration was 13% less NonMember Registration Fees Advanced registration averaged 6% less than the competition On-Site registration was just 5% less

Conclusions Our registration fees are lower than the competition Consideration must be given to the other factors that contribute to the overall travel expenses that an attendee must absorb Competitive pricing is essential to the success of IEEE conferences and to the IEEE itself $10 x 400,000 annual attendees = $4,000,000 additional revenue