Price-the amount of money charged for a product or service, or the sum of the values that customers
exchange for the benefits of having or using the product or service
1. How do food trends affect on-board dining on Celebrity Cruises?
Undoubtedly saying, food trend is such a powerful factor influencing restaurant industry
businesses. There are a wide range of trendssustainability, health, reducing food waste,
1. What are some things that you should not do when you are trying to get a job in the
Basically, with the respect to what should not do when applying a job in the restaurant,
Alex brought his comment which are avoid ill-prepared and
2016/10/16 Mid-term Review
STR Report (Smith Travel Accommodations Report )
1. Index 100 indicates the comparison of performance between Your property and your
Represents hotels fair share in the market.
HMG 6477 Exam 2 (Final Exam) Study Questions
Dr. Eric Beckman
Test Date: Tuesday. Dec. 8, 2015 (2:15pm-4:15pm HM 249)
40-50 Multiple Choice in Class
For Chapter 4/5/9/10
Profit & Loss (P&L) Statement
1) What is another term for Profit and Loss Sta
1. According to Niven, what are the traits that makes an entrepreneur successful?
Doing your work as you find out what you care about and taking action because the
world is full of great ideas but success only comes through action. Chef Patel also
1. Hotel Business
Full Service Hotels
Rooms sales contribute approximately 70% of total revenue of the hotel. Other revenue centers such as
Restaurants, Banquets, Meetings & Conventions, Catering contribute 30% of revenue
Limited (Select) Service Hotel
1. What were some drivers or factors that were crucial to Jessica's success?
Primarily, the collaboration with her mom and the team was contributed to the success of
the restaurant. As she said, to open the restaurant, collaborate other people that were
I was completely impressed when Lorenzo answered the question asking about when you
will know that you are ready for your role. Mr. Davidoiu said that the answer is youll
never get to know whether you are ready for it or not. Am I ready for what Im
Chapter 7Selecting the Channel Members
The selection of channel members according to the text is _
the selection of employees.
almost as important as
as important as
more important than
of little importance compared with
Product- Anything that can be offered to a market for attention, acquisition, use or consumptions.
Service- performance of duties or provision of space and equipment helpful to others
Consumer product- any article, or component part thereof, pro
Market segmentation- Aggregates potential buyers into groups that have common needs and will respond similarly to a marketing action
Market targeting- the specific group of customers at which a company aims its products and services
New Product development- The development of original products, product improvements, product
modifications, and new brands through the firm's own product develo
Market skimming pricing- Setting a high price for a new product to skim maximum revenues layer by layer
from the segments willing to pay the high price; the compan
1. What are the benefits and costs of planning?
Planning aids in improving organizational and individual performance. It encourages managers and
workers to direct their efforts towards activities that accomplish their goals and awa
Developing the casino marketing plan
Klebanow, Andrew M
UNLV Gaming Research & Review Journal; 2002; 6, 2; ProQuest
Reproduced with permission of the copyright owner. Further reproduction prohibited without permission.
Reproduced with permission of