Aviation Service Centers and FBO's
What does FBO stand for?
What is a fixed-base operator?
Identify the "four functions" of management.
What is planning, organizing, directing/coordinating, and controlling?
What are the 4 P's of marketing in aviation?
What are Product, Price, Place, and Promotion?
What is the most precise definition of profit?
This type of aviation certification was introduced to reduce barriers to entry by lowering required training time and cost.
What is a sport pilot certificate?
Name three typical services offered by a full-service FBO.
What are aircraft fueling, charter operations, and maintenance/repair?
What is the best strategy to approaching time management?
Which aviation marketing trend involves shared ownership of aircraft and is similar to a timeshare?
What is fractional ownership?
What are the four main forms of profit in aviation business management?
What are Reward for Effort, Reward for Risk, Return on Investment, and Profit to Sales Ratio?
Which general aviation marketing strategy focuses on promoting a positive image to local residents who may never use the airport’s services?
What is community outreach and public image building (e.g., tours, airshows, youth presentations)?
Which regulatory agency is responsible for aviation security in the U.S., especially after 9/11?
What is the Transportation Security Administration?
Name the three leadership styles.
What is Authoritarian Leader, Participative Leader, and Delegative Leader?
Name one national trend that has significantly affected general aviation since 2001.
What is terrorism and its aftermath.
Which tool divides net profits by total sales to measure how much profit a business earns per dollar of revenue?
What is the Profit to Sales Ratio?
In aviation marketing, what term refers to goods or services that customers weren’t actively seeking, like preventive maintenance contracts?
What is unsought good?
What two major concerns can significantly impact FBO operations and general aviation fuel availability?
What are fluctuating fuel prices and supply concerns?
Delegation is most effective when done with which rule that ensures the task is appropriate for the person assigned?
What is the 80:20 Rule? (Delegate to someone who is 80% ready to handle the task.)
This type of research helps aviation businesses understand trends and target customer needs effectively.
What is market research?
Name two ways an aviation business can improve its cash position.
What are collecting deposits in advance and applying interest charges to overdue accounts?
According to aviation marketing best practices, what should a GA business ask itself to identify its market niche?
What are “What do we do?” and “Why are we different?”
List two trends or issues modern FBOs must address to remain successful.
What are public awareness/marketing and increasing professionalism to meet growing airport demands?
This common managerial mistake involves failing to stay informed about trends, technologies, and market changes.
What is failure to anticipate industry trends?
What is the primary goal of integrated marketing in aviation businesses?
What is to systematically and consistently promote goals, products, and markets using all available tools?
In forecasting cash flow, which two types of expenses must be estimated?
What are fixed expenses and variable expenses?
What key post-9/11 shift encouraged more companies to turn to air taxi, charter, and fractional ownership services instead of flying commercial?
What are increased delays and airport security procedures?