Customer Relations
What is Customer Conflict?
Customer conflict is a situation where a customer is unhappy or disagrees with the business.
What is the Fundamental Accounting Equation?
Assets - Liabilities = Owner's Equity
The process of information management
Collecting, Organizing, Storing, Securing, and Sharing
What is promotion?
How a business tells customers about their product/service to encourage them to buy it.
A type of organic word of mouth done by guest on social media
what is UGC?
How can technology improve a company's effort to make positive customer relations?
Technology improves customer relations by using CRM software, expanding connection opportunities, responding efficiently, and making service faster and smarter.
What is a Balance Sheet used for?
It is used to show the company's financial position at a specific time.
This system tracks customer data and feedback
What is a Customer Relationship Managment(CRM)
What are the 2 C's and what do they mean (100 point per C)
Customer; understanding your target audiences needs/wants and Competition; knowing who else is in your space and how to stand out.
Demand for spas, retreats, and mental health focused trips is what trend?
What is Wellness Tourism?
What are the benefits of good customer relations.
Increased customer return, increased profit, increased customer satisfaction.
What is on the income statement and what are they?
Revenue; profit earned from selling products/services, Expense; cost associated with running the business, Drawings; the money the owner takes out from the company.
What are the three types of data?
Structured Data, Unstructured Data, Semi-Structured Data
What is the relation between the 4 P's and 2 C's
The 4 P's are you strategy mix and the 2 C's help you adapt the 4 P's to market conditions.
Rise in hotels seeking LEED or Green Globe certifications.
What is Green certifications?
Identify the 5 types of difficult customers.
Angry/Impatient, Quiet/Indecisive, Know-it-all, Slow/Methodical, Talkative
What is a credit union?
A credit union is a member-owned bank that offers loans and savings with better rates and lower fees.
This system handles hotel bookings and check-ins
Property Management System(PMS)
What are the 4 P's and what do each mean (100 points per P)
Product; the product/service being offered, Price; the amount customers pay, Place; where and how the product is available, Promotion; communication to encourage purchases.
How do hotels implement the trend of technology and innovation?
through implementing contactless service, AI chat bots, augmented reality, smart hotels.
What are the ten principles of customer service (50 points per principle).
empathy, speed, convenience, consistency, knowledge, adaptability, personalization, continuous improvement, quality, proactivity.
What are the pros and cons of a stock?
Stocks can help you earn money if the company does well, but they are risky because their value can go down and you might lose money.
This type of data helps the business understand the 'why' behind the information
What is Diagnostic Data?
The main use of promotion
to inform, persuade, remind, build brand image, encourage action and educate the market
What trends were created due to post-pandemic shifts?
What is health and hygiene protocols, and flexible bookings?