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Iowa Intro to Tourism and Travel Exam 1 Questions And Answers
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Iowa Intro to Tourism and Travel Exam 1 QuestionsAnd Answers
Commoditize - Answer The process of making a process, good or service easy to access
through the process of making it as uniform, plentiful and affordable as possible
Solution: Differentiate - make each product as specific as possible to the individual buyer
Progression of Economic Values - Answer 1. Happy Birthday - $0
2. Here's an orange- $.50
3. I baked a cake for you- $3
4. I bought you a cake- $20
5. Threw you a party- $200
6. Hired a professional planner - $2,000
From Undifferentiated to Different and Unique
The Experience Economy - Answer Value Added - input provided by the customer
Time Spent - Pine and gilmore stress that the EE's distinctive "method of supply" is
"sustained through time"
Participation- something happens IN the customer
P&G also stesses that MEMORIES are the durable take-aways from experiences
Experience - P&G- AN experience occurs when a company intentionally uses services as
the stage, and good as props, to engage individual customers in a way that creates a
memorable event
Hunnicutt- An experience that a customer is willing to buy = one in which more value is
added and input is provided by the customer
, Compound annual growth rate 1959-2009 - TEE:
Employment Growth- 5.9%
GDP Growth- 16.75%
GDP of tourism - Answer US 7.6 trillion (10% of global GDP)
Jobs for tourism - Answer 277 million jobs (1 in 11 jobs) for the global economy in 2014
Key Facts USA for GDP - Answer Direct Contribution: 458 bn (2.6% of total GDP) in 2014,
forecast to grow by 3.0% in 2015, and increase by 3.8% drom 2015-2020 to 684 bn (3.0 %
of total GDP) in 2025
Total Contribution: 1,402 bn (8% of GDP) in 2014. Rise by 3.1% in 2015 and 3.4% to US
2,028 bn (8.7% of GDP) in 2025
Key Facts USA for Employment - Answer Visitor Exports: generates US$194.1 bn in 2014
Investment: in 2014 was US$144.3 bn or 4.2% of total investment
USA world ranking - Answer Relative importance of travel & Tourism's total contribution
to GDP
1st- Absolute size
112th- Relative size
101st- Growth
129th- Long term growth
Tourism is - Page's formal definition - Answer the field of research on a human and
business activities associated with one or more aspects of the temporary movement of
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