Marketing
individual that purchases goods or services from a business
What is a customer?
This type of hotel offers a full range of services, including dining and entertainment
What is 15% of 200
What is 30
a person who starts, organizes, and manages a business, taking on financial risks in the hope of making a profit.
What is an Entrepreneur
What the project will and will not include is called the
What is scope
a particular group of consumers at which a product or service is aimed.
What is a Target Market
This term describes going beyond customer expectations to provide exceptional service
What is exceeding expectations
This is a plan for managing income and expenses
What is a budget
The repeated return of a customer to a business and make repeated purchases.
What is Customer Loyalty
This management tool helps identify a company's strengths, weaknesses, opportunities, and threats.
What is a SWOT analysis
This term refers to the placement of a product within a movie or TV show as a form of advertising.
What is Product Placement
This is a strategy used to upsell services or products to guests, such as room upgrades or dining options.
What is upselling
This is a share of ownership in a company
What is a stock
a type of business where a person is granted the right to operate a business using the name, branding, and business model of an established company
What is a Franchise
This document outlines a company's goals, strategies, and metrics for success, guiding its operations and decision-making
What is a business plan
This advertising medium involves paying for space in newspapers, magazines, or online platforms.
What is Paid Advertising
What important factor should be considered when establishing staffing and service ratios for a hotel
What is Customer Demand
This type of expense remains constant each month, such as rent or a mortgage payment
What is a fixed expense
When an entrepreneur starts and grows a business using personal savings or operating revenues instead of seeking outside investment
What is Bootstrapping
What are the three main purposes of oral presentations
What is to inform, persuade and entertain
This promotional strategy uses contests or giveaways to increase engagement and attract new customers.
What is a Sweepstakes?
What factor influences demand in the travel and tourism industry
What is economic conditions
This rate, set by central banks, influences borrowing costs in the economy.
What is interest rate
the network of individuals, organizations, resources, and activities involved in creating and delivering a product from the supplier to the consumer.
What is supply chain?
This act mandates that employers provide a safe workplace for their employees.
What is the Occupational Safety and Health Act (OSHA)