Perishability - Study guides, Class notes & Summaries

All of the following were traditional sources of competitive advantage EXCEPT: a. labor costs. b. access to financial resources. c. protected markets. d. a highly educated labor market. - d Customer loyalty programs such as airline frequent flyer miles are an attempt to: a. decrease competitors' access to distribution channels. b. develop a cost advantage independent of scale. c. increase customers' switching costs. d. overcome the perishability of the hotel "product." - c. in...

MKTG 3101 Final Guaranteed Success Product ️Bundle of physical, service, and symbolic attributes designed to satisfy a customer's needs Services ️Intangible tasks that satisfy the needs of consumers and business users Goods/Objects ️Tangible products that customers can see, hear, smell, taste, or touch Goods-services continuum ️Spectrum along which goods and services fall according to their attributes Single Products ️Product Decisions: Attributes, branding, labeling, pack...

SRA 270 Exam Questions & Answers 2024/2025 Goal setting for the future is part of what function of management? - ANSWERSPlanning (SMART principle) Servant leaders highlight follower-oriented management style in the horizontal structure by sharing their authority with others - ANSWERSTrue There are four (4) unique characteristics of services in sport: - ANSWERSIntangibility: Services cannot be seen, felt, etc. before purchase Perishability: Services cannot be stored for later He...

Revenue Management - ️️Also Known as Yield Management An essential instrument for matching supply and demand by dividing customers into different segments based on their purchase intentions and allocating capacity to different segments in a way that maximizes a particular's facility's revenues. The constellation of tools and actions dedicated toward the achievement of an optimal level of the hotels net revenues and gross operating profit 7 key point of Revenue Management - ️️1...

AIPMM - CPM PRACTICE EXAM QUESTIONS & ANSWERS 2023/2024 intangibility inseparability variability perishability - ANSWER-Nature and characteristic of a service Product Price Promotion Place - ANSWER-What are the 4 Kotler's Market Strategies? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers - ANSWER-What are Porter's 5 forces? Conceive Plan Develop Qualify Launch Deliver Retire -...

For a hotel, the ____________ is the room price available to the general public with no restrictions or limitations. a. CONUS rate b. Negotiated rate c. Floor rate d. BAR rate e. Premium rate - ANSWER-d. BAR Rate (best available rate or retail rate) Because of the cyclical demand characteristic of most hotels and the perishability of the hotel product (rooms), the emphasis of revenue management focuses on __________. a. inventory management b. human resource management c. cost management d. ...

CPM Glossary (Certified Product Management) Complete Exam Questions With Complete Solutions 2024. Product - correct answer Anything that can be offered to a market for attention, acquisition, use, or consumption and that might satisfy a want or need. Includes physical objects, services, events, persons, places, organizations, ideas, or some combination thereof. Augmented product - correct answer A product enhanced by the addition of related services and benefits, e.g. installation, warranty,...

HOSP-1010-Gaillard : Midterm Exam Questions and Answers 100% Pass What are the components of the *Service Distinction*? - Answer- -Intangibility -Inseparability -Perishability -Variability -Component of the Service Distinction -Can't be seen, tasted, felt, heard, or smelled before purchase - Answer- intangibility -Component of the Service Distinction -Production & consumption happen simultaneously - Answer- inseparability -Component of the Service Distinction -Can't be stored for la...

Revenue Management Latest 2023 with Certified Solutions Revenue Management Also Known as Yield Management An essential instrument for matching supply and demand by dividing customers into different segments based on their purchase intentions and allocating capacity to different segments in a way that maximizes a particular's facility's revenues. The constellation of tools and actions dedicated toward the achievement of an optimal level of the hotels net revenues and gross operating profit 7...

AIPMM - CPM PRACTICE EXAM WITH CERTIFIED SOLUTIONS intangibility inseparability variability perishability - Answer ️️ -Nature and characteristic of a service Product Price Promotion Place - Answer ️️ -What are the 4 Kotler's Market Strategies? Intensity of Competitive Rivalry Threat of New Entrants Threat of Substitute Bargaining Power of Customers Bargaining Power of Suppliers - Answer ️️ -What are Porter's 5 forces? Conceive Plan Develop Qualify Launch Deliver...