Hospitality
Name one type of business in the hospitality industry.
Hotels, restaurants, or amusement parks
What is the main goal of marketing?
To promote and sell products or services.
What is an entrepreneur?
A person who starts and runs a business.
What is money put into a bank called?
deposit
What is the purpose of a business?
To provide goods or services while earning money.
What is customer service?
Helping customers in a friendly and helpful way.
Why do businesses advertise?
To attract customers and increase sales.
What is a business plan?
A document that explains how a business will operate and succeed.
What is a budget?
A plan for how money will be earned and spent.
What is teamwork?
People working together to achieve a common goal.
Why is customer satisfaction important?
Happy customers are more likely to return and recommend the business.
What is a target market?
The specific group of customers a business wants to reach.
What is profit?
The money left after expenses are subtracted from revenue.
What is interest?
Extra money earned on savings or paid when borrowing money.
Why is communication important in the workplace?
It helps people work together effectively and avoid misunderstandings.
What does the tourism industry provide?
Travel experiences such as transportation, lodging, and attractions.
What is a brand?
A brand is a company's identity, including its name, logo, and reputation.
Why do entrepreneurs take risks?
They take risks to earn rewards and grow their business.
What is the difference between revenue and profit?
Revenue is total income, while profit is what remains after expenses.
What does a manager do?
A manager leads employees and oversees business operations.
What should an employee do if a customer has a complaint?
Listen politely and work to solve the problem
What are the four Ps of marketing?
Product, Price, Place, and Promotion.
What is innovation in business?
Creating a new or improved product, service, or idea.
Why is saving money important?
It helps prepare for future needs and emergencies.
Why do businesses set goals?
Goals help businesses measure progress and plan for success.