General
Money payments for the use of land or property
using the name of a product or business as part of the name of an event venue
What is corporate sponsorship?
a small, sophisticated, and themed hotel
What is Boutique Hotel?
Imports are the goods and services that one country purchases from a foreign country.
What is Imports?
To sell in small quantities directly to the consumer
What is Retail?
A symbol, design, or word used by a producer to identify a good or service and registered with the government to prevent use by others
An independent broadcaster that contracts with larger national networks for programming
What is an affiliate?
This is a low-rent form of accommodation consisting of a kitchenette, a living area, and a sleeping area combined into one single room.
What is Efficiency Room?
Exports are goods and services sold to other countries
What is exports?
These trends are designed and manufactured quickly and cheaply to allow the mainstream consumer to take advantage of current clothing styles at a lower price.
What is fast fashion?
A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected
What is warranty?
formed by the interaction of the event, the sponsors, and the fans
What is event triangle?
The research process your potential guests go through
Negative returns is a stage of production in which businesses usually stop hiring employees.
What is Negative Returns?
The miscellaneous apparel related items that are offered in department stores and apparel specialty stores.
What is Accessories?
Items in their natural state or condition
What is raw material?
occurs when a product that is advertised at a low price is "out of stock" so the salesperson tries to sell customers a higher-priced alternative
What is bait & switch ?
A food and drink menu in which each item is listed and priced separately.
What is Ala Carte Menu?
A trade deficit exists when a nation’s imports are greater than its exports.
What is Trade Deficit?
A fashion that is taken up with great enthusiasm for a brief period of time; a craze.
What is Fad?
The division of a market on the basis of its physical and social characteristics
What is demographic segmentation
high-prospect athletes who have exceptional athletic ability and who demonstrate good character and leadership qualities on and off the field
What is blue chip athlete?
The support areas that are behind the scenes in a property, they include: housekeeping, laundry, engineering, foodservice.
What is Back of House (BOH)?
a return of a part of the price a customer pays for a product, usually from the product’s manufacturer.
Whats is rebate?
A special sale in which vendors (clothing companies, fashion designers, etc.) present merchandise directly to store personnel or select customers at a retail location or another unique venue. It is particularly desirable to have the actual designer present at the event. Most small businesses do this to get more customers/sales
What is Trunk Show?