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STATES Flashcards

(87 cards)

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0
Q

Legislative law

A

Establishes government(administrative) agencies

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1
Q

Administrative law

A

Deals with the rules and regulations established by government agencies

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2
Q

Executive branch

A

Guides government policy

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3
Q

Is over booking a flight legal?

A

Yes.

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4
Q

Business process management

A

Striving to align objectives and activities with customer needs.
Stresses innovation, flexibility bs technology

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5
Q

Employee training

A

Eductating workers on how best to preform their job

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6
Q

Organizational structuring

A

The way business functions relate within a company

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7
Q

Continuous improvement

A

Refers to continuously evaluating business processes to make them more efficient

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8
Q

Tangible objects

A

Goods

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9
Q

Productive activities

A

Services

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10
Q

Economic votes

A

Theoretical votes for a product cast by choosing to buy one item over another

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11
Q

Organizational recources

A

Everything a business uses to operate(tangible and intangible items). Important to determine if they have the capacity to adapt using current resources

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12
Q

Productive activities

A

Services

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13
Q

Economic goods

A

Physical goods that are useful, transferable and scarce

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14
Q

Pure risk

A

Risk that can be covered by insurance

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15
Q

Customer incentives for referrals

A

DISCOUNTS (not free products!)

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16
Q

Services

A

Intangible objects that can be sold

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17
Q

Services marketing

A

Action taken to develop, promote, and distribute an intangible object

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18
Q

Product marketing

A

Develops, promotes and distributes a tangible object that can be sold

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19
Q

External source that resort gift shops often use to identify goods and services that customers want and need

A

vendors - they can tell gift shops which of their items are popular with customers.

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20
Q

Vendor

A

A company which sells products to other businesses. They are a good source of information because they deal with many stores and can get a good indication of what customers want and need

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21
Q

Shippers

A

transport and deliver goods

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22
Q

Owners

A

Offer INTERNAL information about what customers like

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23
Q

First step in the project planning process

A

Determine scope and purpose

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24
Capitol goods
Include buildings tools and machinery to make goods
25
Emergency procedures usually include plans for...
Disabled customers
26
Core values
Represent the underlying product value and image
27
What do you need core values to do?
Determine a target market.
28
Penetration pricing
a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth
29
Psychological pricing
A minimal price deduction so the customer feels like there is increased saving even when there isn't
30
Price lining
Selling a goods at a limited number of predetermined price points
31
Price skimming
When a price is deliberately set high to appeal to those who want to buy it at a high price and be the first to have it, and is then lowered to make it affordable for more customers
32
Trade magazines
Can help track environmental changes in technology that impact hospitality and tourism market
33
Visitor trends
Help predict numbers for upcoming bookings it is likely to receive based on ages, incomes, travel habits etc
34
Competitive trends
Identify directions that other properties are using including price adjustments
35
Growth phase of the business cycle
Consumers and producers borrowing more money because interest rates lower which encourages borrowing
36
How to persuade people to go along with change
Explain how the change will benefit them
38
Computer technology benefits human resources management by...
Electronically processing information
39
Primary hospitality and tourism information
Free reception for frequent travelers in which feedback is collected
40
Chamber of commerce
Posts tourism information on their websites in different types of statuses like demotraphics and occupancy rates
41
Vacation pay
Reinbursment for work done - EARNED income
42
Acounting Information
Acounting information helps managers make financial decisions that affect the business hiring more staff
43
Profit and Loss Statement
an income statement that shows how much money the business has made or lost
44
`Journals (accounting)
special books or computer programs where a business's transactions are recorded in the order in which they occur
45
Financial records can be...
interpreted in different ways
46
Sequential patterns
data mining concerned with finding statistically relevant patterns between data examples where the values are delivered in a sequence - HELPS WITH PREDICTING CUSTORMER REACTIONS
47
Cluster relationship
Relationships found when items are grouped according to logical relationships
48
-1>R>0
One variable increases as the other decreases
49
0>R>1
Two variables increase or decrease together
50
R=0
Tao variables do not vary together
51
R=1
Perfect correlation
52
Digital convergence
The tendency of digital services that were once seperate entities to combine into new forms (ex internet offering phone services)
53
Comparing variables
Help hotels analyze and interpret marketing information contained in databases to compare several variables that change with each property
54
Legal records
Contain payroll records, asset records, promotional records etc
55
Firewalls
Protects digital business information from malware
56
Spyware
Tracks and captures a computer users internet habits
57
Follow up letters
Written following an interview to express appreciation for the inferview regardless of if you were or were not GODESS
58
Trade shows...
Help companies obtain sales leads.
59
Color reproduction processes....
Define different visible areas
60
Vendor selection
Advertising is an important fact. Some vendors help with advertising by giving promotional materials, which gives them an advantage in the selection process
61
Social bookmarking sites
Allow users to post tag and rank links to various other sites - del.icio.us is an example
62
Email filters
Block out unwanted information - the can only accept mail from accepted addresses or keep emails with certain words in he subject out of the mailbox
63
Color harmonies
Most important part of advertising! Colors have to go together for an ad to be effective
64
Corporate image and positioning pricing
Setting prices that are consistent with overall company image and positioning - a upscale hotel will set prices high to keep that reputation
65
Discriminatory pricing
Involves setting two or more prices to appeal to select markets
66
Corporate pricing
Setting prices to meet objectives like profit levels and sale volume
67
Competitive pricing
Setting prices based on the prices of the competiton
68
News releases should
Be objective in presenting facts
69
Databases
Computerized storage of information - tracks marketing communication activities
70
Team selling
Involves putting together a team of specialists to sell to a business for large and complex products - helps effectively explain benefits
71
Exclusive agreements
Suppliers requirements for its customer to handle only its products or to agree not to handle other companies products - ILLEGAL WHEN IT RESTRICTS TRADE
72
Chanel management
Chanel management is changing the Chanel used to promote -ex adding a website
73
Marketing information management
Gathering accessing synthesizing evaluating and dissembling information for use in baking business decisions
74
Liabilities
ACOUNTS payable, taxes and interests payable added
75
Influencer
A person whose credibility allows to share their opinion with a large group of people
76
Travel promotion act of 2010
Goal: arrest international visitors to America
77
Mind mapping
Technology that allows people to organize a lot of info in an effective way
78
Travel planning
Provided by travel agents (producers) who sell to consumers
79
Anti robbery systems include
Cash control, video access control
80
Written reports
Prepared by managers for other managers to help with decision making
81
Major functions of marketing
Selling, pricing, promotion , Chanel management
82
Installment credit
Installment credit is a type of credit that has a fixed number of payments
83
Revolving credit
Revolving credit is a type of credit that does not have a fixed number of payments
84
Executive report
Most important report info
85
Elastic demand
Demand that can change when other factors such as price change
86
Non interactive content
Plain text, no audio video etc
87
Holding costs
What it costs to keep products in stock

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