marketing
what is a Target Market?
A specific group of consumers at which a company aims its products and services.
what are walk-ins?
A guest who arrives at a hotel or restaurant requesting accommodations or a table without having made a prior reservation.
what is Compound Interest?
Interest calculated on the initial principal and also on the accumulated interest of previous periods of a deposit or loan.
Entrepreneurship
The activity of setting up a business or businesses, taking on financial risks in the hope of profit.
What does DECA stand for?
Distributive Educational Clubs of America
What is Market Segmentation?
Dividing a broad target market into smaller, more defined sub-groups of consumers with shared characteristics.
what is a Commission?
A percentage fee paid by a hospitality business to an intermediary (such as a travel agent or Online Travel Agency like Expedia) for booking a room or venue.
what are Assets?
Resources with economic value owned or controlled by an individual or corporation with the expectation that they will provide future benefit.
What is a Fixed Cost in a business?
: Business expenses that do not change with the level of production or sales volume (e.g., rent, insurance).
When is fall rally
October 21 at Six Flags Over Georgia.
what is an indirect channel of distribution
an indirect channel involves one or more intermediaries (like wholesalers and retailers) between the producer and the final consumer.
for example: A company selling good to a wholesaler, who then sells to a retailer.
what is Upselling?
A sales technique where staff encourages a customer to purchase a more expensive, upgraded version of their chosen item (e.g., suggesting a king suite instead of a standard double room).
what is ROI(Return on Investment)?
ROI (Return on Investment): A performance measure used to evaluate the efficiency or profitability of an investment, calculated as net profit divided by the cost of investment.
B2B (Business-to-Business)
A transaction or business conducted between one business and another, such as a manufacturer and wholesaler.
When is fall LDC
November 5–6, 2026 at the Renaissance Waverly in Atlanta.
Brand Equity
The commercial value that derives from consumer perception of the brand name of a particular product or service, rather than from the product or service itself.
what is Yield Management
A dynamic pricing strategy that anticipates consumer behavior to optimize price and availability—charging higher rates during peak demand and offering discounts during off-peak periods.
what is Liability?
A company's legal financial debts or obligations that arise during the course of business operations.
Stakeholder
Any individual, group, or party that has an interest in an organization and the ways in which it operates.
When is ICDC
April 17–20, 2027 in Anaheim, California.
A strategic planning technique used to help a person or organization identify strengths, weaknesses, opportunities, and threats related to business competition or project planning.
what is a Folio?
A guest's account or master bill that records all room charges, taxes, and incidental purchases (like room service or spa treatments) incurred during their stay.
what is Liquidity?
The availability of liquid assets to a market or company; the ease with which an asset can be converted into cash without affecting its market price.
Supply Chain
The network of all the individuals, organizations, resources, activities, and technology involved in the creation and sale of a product.
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