Marketing
What is the definition of Customer Experience?
Customers feelings when interacting with a business
What is the first function of management?
Planning
A feature that makes a property, good, or service more appealing.
What is an amenity?
Items of value that a company/person owns
What is an Asset?
The process of designing, launching and running a new business.
What is Entrepreneurship?
A group of customers a business has decided to aim its marketing efforts towards
What is a Target Market?
Why does having emotional intelligence as a manager important?
Options:
It helps management understand what motivates their team
increases employee morale
boosts employee performance
The assistance and guidance a company provides to people before, during, and after they buy a product or service.
What is Customer service?
What is the fundamental accounting equation?
Assets = Liabilities + Owners Equity
What does S.M.A.R.T analysis represent?
Specific, Measurable, Attainable, Realist/Relevant, Timely
What is the Marketing Mix?
Price, Product, Place, Promotion
What are the three objectives that guide strategic management?
Mission, Vision, Values
An object that has no physical appearance but holds value
What is an intangible product?
If a business owner has assets worth $3000, Liabilities that amount to $500, what is the owner’s net worth?
$2500
The money raised by a new company to meet initial startup costs
What is initial capital?
What is an example of a Business to Consumer E-Commerce Business that starts with the letter A?
Amazon
Which level of management is responsible for implementing programs that are intended to carry out the broader objectives of an organization set by executives?
Middle Managers
The total number of rooms occupied divided by the number of total rooms
What is Occupancy?
What document provides a snapshot of a business’s assets. Liabilities, and equity, on a given date?
Balance Sheet
A written document that defines objectives, includes marketing and operational standpoints to serve as a roadmap to reach your company goals.
What is a business plan?
A business established, operated and financed by one person
What is a Sole Proprietorship?
Which part of the management process includes measuring results, comparing results to expectations, and taking corrective action to bring results in line?
Controlling
What are the 4 categories of hospitality?
Food and beverage
Travel and tourism
Lodging
Recreation
What are the 3 main types of finances?
Personal finance, Public finance, and Corporate Finance
Name a minimum of 2 Steps that could be used when developing a public relations program
Define Goals and Objectives
Identify your target audience
Established your strategy
Create key messages/incorporate brand vision
Deploy Tactics
Measure results