December 15th, 2013
Pamela Merheb 47585
Israa Ibrahim 40010
Ibrahim Chatila 54787
Overview and history.2
Mission, goals and vision.4
What is Consumer Behavior?
The behavior that consumers display in searching for, purchasing,
using, evaluating, and disposing of products and services that they
expect will satisfy their needs.
Research is the
process and tools
used to study
The Importance of the Consumer
Marketers must understand customers to
1.Choose a typical tourism product and de-construct it in product formulation terms.
The core product (intangible);
The formal or tangible product;
The augmented product (tangible and intangible).
See page 127-129
2. Consider the way in which different pr
1. Outline the ways in which buyer behaviour patterns can be used to
segment the market for a hotel group?
Frequency of usage of product (brand loyalty);
Visitor expenditure per capita;
The timing and sequence of buyer decision prior to making a booking;
1.What are the limitations of the stimulus-response model of consumer behaviour? To
what extent can the human mind be compared to a computer?
It only processes information that has been fed into the decision system at
the right time.
Working with the pers
1.Why do more demanding consumers tend to dominate developed tourism markets?
More computer literate;
More culturally diverse.
1. Outline three key attributes of service products that distinguish them from
products based on manufactured goods?
2. What are the main operating characteristics that all large-scale operations (goods
Why is ethics important?
Ethics is the proper way for a person to behave and distinguish between what is wrong
and what is right based on his/her principles and values. Ethics is needed for the success
of both human life and bus
important relationship 2
12594.29 3 yea
slide 5 Future value
Slide 6 & 7 -1B
total in year 5
1123.6 2 years
530 1 years
1338.226 5 years
631.2385 1 year investment
833.7112 2 years invesment
Slide 9&10 present Value
PV - year 4
PV - year 3
PV - year 2
Market segmentation, targeting, and positioning are the foundation of turning consumers into
Market segmentation is the process of dividing a market into subsets of consumers with
common needs or characteristics. Each subset represents a consum
US News Travel Ranking - Best Islands
St. Kitts & Nevis
St. Martin - St. Maarten
Hawaii - The Big Island
Outward looking: being highly responsive and proactive to the constantly changing dynamics of
the business operators. External factors include globalization of economies, growing
competition among suppliers and the need to cope with population growth and
The demand for services is related to economic growth > increase in disposable income, rapid
transport development, growth of modern information and communications technology (ICT).
Also, economies of scale has contributed to the growth.
Dont confuse it w
varietyofflavors.However,thecustomersaretreated with kindness to make sure they are appreciated in
order for them to spread positive words
Multiple Choices Circle the best answer ( 3 points each)
Jamila wants to purchase a new car. She knows that she can afford to pay $250 per month and that her
bank will charge her 8% interest on the car loan. She intends to pay off the car in five years
Columbia Bank & Trust has just given you a $20,000 term loan to pay for a new concrete mixer. The loan
requires five equal annual end of the year payments. If the loan provides the bank with a 12 percent
return, what will be your annual payments?
Future Value of a single payment
FV PV 1 r
Present Value of an single payment
(1 r ) n
Future value of an ordinary annuity
(1 r ) n 1
Present Value of an ordinary annuity
(1 r )
Future value of an annuity Due
I. Sample Statement of Cash Flows
+ Net Income
+ Decrease in current asset accounts (except cash)
+ Increase in current liability accounts (except notes payable)
- Increase in current asset accounts (except ca
The Crucible of Civilization
crucible: a place or situation in which concentrated forces
interact to cause or influence change or development
Located in southeastern Europe, Greece is defined by a series of mountains and
The study of the ways organisms interact with each other &
their nonliving surroundings
abiotic or biotic conditions/factors that affect an
organism during its lifetime
complex of soci