Marketing
the processes of communicating the value of and connecting a product or service to customers/clients/partners and society
What is Marketing?
The name of what kind of industry consists of a group of businesses composed of establishments related to lodging and food-service management.
What is the hospitality industry?
the basic concepts and fundamental principles of decent human conduct.
What are ethics?
process of managing money for individual, business, or organization.
What if finance?
Two answers. What should you do when you approach the judge?
What is “Good morning/afternoon”
and
what is a handshake?
specific group of people that a marketing campaign is focused on attracting
What is a Target Market?
travel for the sole purpose of conducting an individual's or company's business.
What is business travel?
Amount of merchandise on hand at any particular time.
what is inventory?
Process of determining a time specific financial plan for an individual, business, or other organization to achieve a monetary goal.
What is budgeting?
It is important to maintain _____ _____
What is eye contact?
relationship between the amount of a product and the desire of the buyers to buy a product. Typically, low supply and high demand= higher prices and vice versa.
What is Supply and Demand?
a positive feeling or reaction customers have when a business or product meets their needs.
What is customer satisfaction?
Information in an unorganized form (alphabets, numbers or symbols) that have a relationship with current conditions, ideas or knowledge.
What is data?
Income received before expenses.
What is gross revenue?
the points you must hit in your presentation/response?
What are Performance Indicators?
Price, Place (distribution), Promotion, Product. These are parameters the marketer controls to best appeal to the target market.
What is Marketing Mix (4 P’s of all marketing)?
an effective network system for an airline formed by a hub, or a large airport, connected to other smaller airports called spokes.
What is a hub-and-spokes system?
a strategy in which an insurable risk is shifted to another party by means of an insurance policy.
What is risk transfer?
What are capital expenditures?
This is where you get your rubric for your written presentation.
What is “DECA.org” or “guidelines” ?
Chains of businesses through which a service must pass in order to reach the consumer. Includes wholesalers, retailers, distributors, the internet, etc. Direct channels (shorter) allow consumers to buy goods from manufacturers, while indirect channels allow product to be bought from a wholesaler
What are Channels of Distribution?
the spoiling or contamination of the natural beauty and features of an environment, due to poor planning and design of tourism projects.
What is aesthetic pollution?
A continuing relationship in which the franchiser provides a licensed privilege to the franchisee to do business, and offers assistance in organizing, training, merchandising, marketing and managing in return for a consideration.
What is franchising?
Financial documentation of an individual, business, or other organization. Cash Flow Statement, Tax Return, Balance Sheet, Income Statement.
What are Financial Records?
DOUBLE Jeopardy!
You say this line whenever you reach a blank or lose train of thought during your presentation.
What is ”Please give me a moment to recollect my thoughts“ ?