6/17/2013 What Is a Product? Products‚ Services‚ and Experiences Product is anything that can be offered in a market for attention‚ acquisition‚ use‚ or consumption that might satisfy a need or want Service is any activity or benefit that one party can offer to another that is essentially intangible and does not result in the ownership of anything. Experiences represent what buying the product or service will do for the customer Chapter 8 - slide 1 Copyright © 2010 Pearson Education‚ Inc. Publishing
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vertical integration between them. The paper employs a conceptual framework adapted from regulation theory‚ to assess the dynamics of these processes‚ particularly in relation to airlines and hotels. Through examining some of the most important examples of both horizontal and vertical integration‚ it indicates how these have in#uenced contemporary strategies in the component sectors. The paper goes on to illustrate how trends towards Fordist organization within airlines have con#icted with post-Fordist
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interviewing some staff that also working in the property‚ the effects that influence the staff‚ the customer and the management itself‚ then consider few points of recommendation and conclusion about the issue. There is always a major issues in a hospitality industry‚ because in a property such as hotel or resort‚ there are a huge range of department such as housekeeping‚ food and beverages and front office‚ each department has their own function to aim and achieve a same goal which is maintain the
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Introduction to Hospitality Miroslava Dimitrova Ph.D Accommodation sector Hospitality = Hotels + Restaurants Lodging Industry Hospitality industry: Provision of accommodation as well as food and beverage services to short-stay guests on paying basis. The Pineapple Tradition • Symbol of welcome‚ friendship and hospitality • Recognized internationally • Foundation for concept of “SERVICE” Types of Accommodation • Hotels • Farm houses (Guest houses)‚ bead and breakfast (BB)
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discuss the concept of marketing for a service industry (such as Restaurant or Hotel) with relevant examples and also mention its characteristics. (1.1) M1 1.1 Marketing Marketing is the process to find out the needs‚ wants and the customers’ demands so that the customers will be satisfied after using that product. The process of discovering and translating consumer needs and wants into product and service specification‚ creating demand for these product and services‚ and then in turn expanding this demand
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2 IBM: An industry example of a transition from product to service base 2.1 Brief history of IBM and story of its downward spiral IBM stands for “International Business Machine” and was incorporated in 1924 focusing on delivering ‘products’ in the form of punch tabulated machine until it became the biggest and most successful business PC and mainframe manufacturer in world circa 1980’s. At this time IBM stock price once shot up until USD43 per unit [1]. However by the end of 80’s‚ the software
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Price and Quantity Adjustments for Australian Tourism and Hospitality Products. EXECUTIVE SUMMARY: This report is aimed to provide knowledge about the fundamental microeconomics which is demand and supply. Through the research of books and online information‚ the following report demonstrates the information about the change in supply and demand by price and non-price determinants. These would be illustrated through the analysis of three different scenarios. In addition‚ the report also
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1 Hospitality Industry 1.1 Introduction to Hospitality Industry 1.1.1 The Nature of the Hospitality Industry What is the meaning of HOSPITALITY? There have been different definitions of Hospitality. Broadly speaking‚ Hospitality is the act of kindness in welcoming and looking after the basic needs of guests or strangers‚ mainly in relation to food‚ drink and accommodation. A contemporary explanation of Hospitality refers to the relationship process between a guest and a host. When
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capacity utilisation for sixteen weeks in a year‚ to troughs of 30% or less for twenty weeks in the year. Seasonal closure of many leisure tourism businesses is still common. These demand variations are all the more acute because of the factor of perishability and it is always a major preoccupation of marketing managers to generate as much demand to fill the troughs as market conditions permit. For Brighton hoteliers in England August is off-season because this is the month when conferences are at their
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SPECIAL PRODUCTS (Examples) • Products of the Sum and Difference of the Same Two terms (x + y)(x − y) = x2 − y2‚ we have: 1. (s+2t)(s−2t) = (s)2− (2t)2 = s2 − 4t2 2. (7s + 2t)(7s − 2t) = (7s)2− (2t)2 = 49s2− 4t2 3. (12 + 5ab)(12 − 5ab) = (12)2 − (5ab)2 = 144 − 25a2b2 • Square of a Sum of Binomials (x + y)2 = x2 + 2xy + y2‚ we have: 1. (5a + 2b)2 = (5a)2 + 2(5a)(2b) + (2b)2 = 25a2 + 20ab + 4b2 2. (3x + 10y)2 = (3x)2 + (2)(3x)(10y) + (10y)2
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