HMD380 UNLV Ch 8 Hospitality Management Discussion

User Generated

puupuu12

Business Finance

HMD380

University of Nevada Las Vegas

Description

there are two discussions and i attached ppt for 2 chapters.


ch8.

Chapter 8 lays the foundation of marketing tactics. Please read it more carefully. Discuss how a particular hospitality business that you know goes about targeting at a specific segment and creates a unique position in the marketplace (do not use examples from the textbook or copy from previous classmates’ posts). To make it more fun, you can go to a hospitality business of your choice (such as a restaurant, hotel, casino, bar, club, golf course, etc.) and observe who are the people that frequent the business and how that business unit caters to their needs by differentiating itself from its competition. Please share your thoughts and also comment at least once on the postings by other classmates

classmate's posting for ch8:

A restaurant that I would like to mention that has a target segment I believe is BJ'S Brewery and Restaurant. BJ'S to me is a little similar to Buffalo Wild Wings in the form that it is a causal setting that has big screen TVs that they always have sports on, but at the same time its a little more upscale than Buffalo Wild Wings which in the form there food is plated and not necessarily finger food. There target does still bring in more men than female, but at the time you see as well family gatherings there so there target that they focus to market in is a variety of people. They do have big screen TVs where they play all sorts of sports team which attracts people who are into sports or most of them being men from like 18-30 or sometimes older. They don't specifically target one type of audience, but if one were to go to a restaurant you can always sense the vibe they give with being a sporting type place. This place caters to many different types of people as well since there menu isn't just pasta, but they have food if people like to eat healthy or like to eat meat, or pizza, so they do cater to other people in that form of sense. They create a unique position in the marketplace because they can cater to a specific gender but at the same time they tend to cater to other type of peoples needs as well with the variety of foods and drinks that they have to offer, as well as making sure the vibes when you go in to eat are chill and very relax while enjoying a nice game to view on there big screen TVs.


ch9

Chapter 9 focuses on product development. After reading the chapter, discuss 2 new product ideas you have observed that have been or will be applied to hospitality, and then explain why you believe they are or will be successful. Please share your thoughts and also comment at least once on the postings by other classmates

classmate's posting for ch9:

One new invention I have witnessed in the hospitality industry is a self check in at hotels. This is when a guest goes to an Ipad or computer, not a desk with an agent, and checks themselves in. In theory, this invention seems like a good idea, until the guest realizes they can not slide the computer a tip and ask for an upgraded room size or view. Furthermore, if a guest is not a fan of technology or gets easily frustrated this would not be a good idea for them. Additionally, this sense of technology is a great idea however it does take away from the level of hospitality the attendants of the front desk can give the desk.

A second invention, that is not brand new but is fairly newer is making reservations for restaurants online. This can take the stress away from calling down during the hours of operations or staying on hold for a busy establishment. I believe this has done well because it will also confirm and remind the guest of their reservation with the date, time, and party amount, By doing this restaurants will be able to staff for future days and prepare for busy rushes.

Unformatted Attachment Preview

Marketing for Hospitality and Tourism Seventh Edition CHAPTER 8 Customer-Driven Marketing Strategy: Creating Value for Target Customers Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Learning Objectives 1. Define the major steps in designing a customer-driven marketing strategy: market segmentation, targeting, and positioning. 2. List and distinguish among the requirements for effective segmentation: measurability, accessibility, substantiality, and actionability. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Learning Objectives (cont.) 3. Explain how companies identify attractive market segments and choose a market-targeting strategy. 4. Illustrate the concept of positioning for competitive advantage by offering specific examples. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Target Marketing Market Segmentation Market Targeting Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Market Positioning Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Market Segmentation Geographic Demographic Psychographic Behavioral Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Demographic Segmentation Age and LifeCycle Stage Gender Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Income Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Behavioral Segmentation Occasion Benefits Sought User Status Usage Rate Loyalty Status Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Requirements for Effective Segmentation Measurability Effective Segmentation Substantiality Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Accessibility Actionability Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Evaluating Market Segments Size & Growth Company Objectives & Resources Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Structural Attractiveness Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Selecting Market Segments Concentrated Undifferentiated Marketing Strategies Differentiated Micromarketing Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Positioning Strategy Identifying Competitive Advantages Selecting Competitive Advantages Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Effectively Communicate Chosen Position Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Differentiating Competitive Advantages Management Orientations Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Positioning Errors Underpositioning Confused Positioning Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu OverPositioning Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Which Differences? Important Distinctive Superior Communicable Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Which Differences? (cont.) Preemptive Affordable Profitable Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Figure 8–3 Positioning map of service level versus price. Source: Lovelock, Christopher H; Wirtz, Jochen, Services Marketing: People, Technology, Strategy, 7th Ed., ©2011, p. 74. Reprinted and Electronically reproduced by permission of Pearson Education, Inc., New York, NY. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms • Behavioral segmentation – Dividing a market into groups based on consumers' knowledge, attitude, use, or response to a product Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Competitive advantage – An advantage over competitors gained by offering consumers greater value either through lower prices or by providing more benefits that justify higher prices Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Competitors' strategies – When competitors use segmentation, undifferentiated marketing can be suicidal. Conversely, when competitors use undifferentiated marketing, a firm can gain an advantage by using differentiated or concentrated marketing. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Confused positioning – Leaving buyers with a confused image of a company • Degree of product homogeneity – Undifferentiated marketing is more suited for homogeneous products. Products that can vary in design, such as restaurants and hotels, are more suited to differentiation or concentration. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Demographic segmentation – Dividing the market into groups based on demographic variables such as age, gender, family size, family life cycle, income, occupation, education, religion, race, and nationality • Gender segmentation – Dividing a market on the basis of gender Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Geographic segmentation – Dividing a market into different geographic units such as nations, states, regions, counties, cities, or neighborhoods • Income segmentation – Dividing a market into different income groups Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Local marketing – Tailoring brands and promotions to the needs and wants of local customer groups-cities, neighborhoods, and specific restaurant/hotel/store locations Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Market homogeneity – If buyers have the same tastes, buy a product in the same amounts, and react the same way to marketing efforts, undifferentiated marketing is appropriate. • Market positioning – Formulating competitive positioning for a product and a detailed marketing mix Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Market segmentation – Dividing a market into direct groups of buyers who might require separate products or marketing mixes • Market targeting – Evaluating each market segment's attractiveness and selecting one or more segments to enter Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Marketing for Hospitality and Tourism Seventh Edition CHAPTER 9 Designing and Managing Products and Brands: Building Customer Value Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Learning Objectives 1. Define the term product, including the core, facilitating, supporting, and augmented product. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Learning Objectives (cont.) 2. Explain how accessibility, atmosphere, customer interaction with the service delivery system, customer interaction with other customers, and customer coproduction are all critical elements to keep in mind when designing a product. 3. Understand branding and the conditions that support branding. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Learning Objectives (cont.) 4. Discuss branding strategies and decisions companies make in building and managing their brands. 5. Explain the new-product development process. 6. Understand how the product life cycle can be applied to the hospitality industry. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved What is a Product? • A product is anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. • It includes physical objects, services, places, organizations, and ideas. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Product Levels Core Products Facilitating Products Supporting Products Augmented Products Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Augmented Product Accessibility Customer Participation Augmented Product Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Atmosphere Customer Interaction Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Atmosphere's Effect on Purchase Behavior AttentionCreating Medium EffectCreating Medium Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu MessageCreating Medium MoodCreating Medium Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Customer Interaction with the Service Delivery System Joining Consumption Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Detachment Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Elements of Branding Strategy Brand Equity Brand Positioning Brand Name Selection Leveraging Brands Brand Portfolios Managing Brands Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Brand Positioning Beliefs and Values Benefits Attributes Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved The New-Product Development Idea Generation Idea Screening Business Analysis Product Development Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Concept Development and Testing Test Marketing Marketing Strategy Commercialization Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Idea Generation External Environment External Sources Idea Generation Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Internal Sources Crowdsourcing Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Commercialization Commercialization Decisions Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Figure 9–3 Sales and profits over the product's line from inception to demise. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Product Deletion Phase-Out Drop It Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Run-Out Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms • Augmented products – Additional consumer services and benefits built around the core and actual products • Aural – The dimension of atmosphere relating to volume and pitch Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Brand – A name, term, sign, symbol, design, or a combination of these elements that is intended to identify the goods or services of a seller and differentiate them from competitors Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Brand equity – The added value endowed on products and services. It may be reflected in the way consumers think, feel, and act with respect to the brand, as well as in the prices, market share, and profitability the brand commands for the firm. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Branding – The process of endowing products and services with the power of a brand. It's all about creating differences between products. • Brand promise – The marketer's vision of what the brand must be and do for consumers Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Consumption phase – Takes place when the customer consumes the service. • Core product – Answers the question of what the buyer is really buying. Every product is a package of problem-solving services. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Crowdsourcing – An open-innovation new-product idea program • Decline – The period when sales fall off quickly and profits drop • Detachment phase – When the customer is through using the product and departs. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Drop – The action taken toward a product that may cause harm or customer dissatisfaction • Facilitating products – Those services or goods that must be present for the guest to use the core product Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Growth – The product life-cycle stage when a new product's sales start climbing quickly • Introduction – The product life-cycle stage when a new product is first distributed and made available for purchase Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Joining stage – The product life-cycle stage when the customer makes the initial inquiry contact • Maturity – The stage in a product life cycle when sales growth slows or levels off Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Olfactory – The dimension of atmosphere relating to scent and freshness • Phase-out – The ideal method of removing an unpopular or unprofitable product; it enables a product to be removed in an orderly fashion. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Product concept – A detailed version of a product idea stated in meaningful consumer terms • Product development – Developing the product concept into a physical product to ensure that the product idea can be turned into a workable product Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Product idea – Envisioning a possible product that company managers might offer to the market • Product image – The way that consumers picture an actual or potential product Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Run-out – Removing a product after existing stock has been depleted; used when sales for an item are low and costs exceed revenues, such as the case of a restaurant serving a crabmeat cocktail with sales of only one or two items per week. Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Supporting products – Extra products offered to add value to the core product and to help to differentiate it from the competition Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved Key Terms (cont.) • Tactile – The dimension of atmosphere relating to softness, smoothness, and temperature • Visual – The dimension of atmosphere relating to color, brightness, size, and shape Marketing for Hospitality ICD-10-CM/PCS Coding: A and Map Tourism, to Success 7e Lorraine Kotler, Bowen, M. Papazian-Boyce Makens, Baloglu Copyright © 2017, 2014, 2010, 2006 by Pearson Education, Inc. All Rights Reserved
Purchase answer to see full attachment
User generated content is uploaded by users for the purposes of learning and should be used following Studypool's honor code & terms of service.

Explanation & Answer

Hi, kindly find attached

Running Head: HOSPITALITY

1

HOSPITALITY
Student’s Name
Institution
Date

HOSPITALITY

2

Chapter 8
A business I would like to talk about in this case is RTV Restaurant. This is a small hospitality
business that serves an average customer base of around 120 people each and every day. In order
to maintain an inflow of customers despite its small stature, RTV has to be smart on how it
conducts its operations.
Being a very small enterprise, RTV begins by targeting the youth and this is justified by the fact
that most of the goods and services it offers are the ones preferred by the younger generations.
This strategy ...


Anonymous
Awesome! Perfect study aid.

Studypool
4.7
Trustpilot
4.5
Sitejabber
4.4

Related Tags