CHSP PART I, CH. 1 – 7 STUDY GUIDE WITH COMPLETE
SOLUTION BASED ON FINAL EXAM
consolidation
answers: the combination of two or more corporations to form a new corporation,
by purchase, by merger, or another ownership transfer. _______ reduces the
number of companies owning brand hotels.
ecotourism
answers: tourism that promotes enjoyment of nature (w/o harming the
environment); it may include efforts to protect or preserve the visited region
environmental scanning
answers: the analysis of trends and factors that will affect a hospitality firm's
marketing efforts
globalization
answers: the international consolidation of big businesses and the growing trend
for countries to allow the transfer of goods and services across national borders
marketing
answers: a system of interrelated activities formulated to plan, price, promote, and
make available services or products to potential customers or guests in a particular
target market
marketing mix
answers: the combination of the four "Ps" of marketing--product, place,
promotion, and price-- that is used to achieve marketing objectives for a target
market
niche marketing
answers: (branding) designing, building, and marketing hospitality products for
specific market segments
, partnership marketing
answers: also known as developing strategic alliances and synergism marketing, it
involves two or more firms--ideally serving similar markets with noncompetitive
products--joining together to benefit from each other's strengths
competition analysis
answers: an evaluation of a business's competition to identify opportunities and
unique selling points; part of a marketing audit
competitive set
answers: for a hotel or restaurant, its competitive set it made up of properties in
the immediate area that sell to similar market segments and offer similar products
and services at a similar price
differentiation
answers: distinguishing and separating your property from those of the
competition
fair share
answers: the number of room nights a property would sell if demand were
distributed based on the number of rooms in each property
feeder city
answers: a city other than the property's city from which guests arrive
guest mix
answers: refers to the variety or mixture of guests who stay at a property or eat at a
restaurant
market segmentation
answers: dividing the market into groups of consumers with similar needs, wants,
backgrounds, incomes, buying habits, and so on
SOLUTION BASED ON FINAL EXAM
consolidation
answers: the combination of two or more corporations to form a new corporation,
by purchase, by merger, or another ownership transfer. _______ reduces the
number of companies owning brand hotels.
ecotourism
answers: tourism that promotes enjoyment of nature (w/o harming the
environment); it may include efforts to protect or preserve the visited region
environmental scanning
answers: the analysis of trends and factors that will affect a hospitality firm's
marketing efforts
globalization
answers: the international consolidation of big businesses and the growing trend
for countries to allow the transfer of goods and services across national borders
marketing
answers: a system of interrelated activities formulated to plan, price, promote, and
make available services or products to potential customers or guests in a particular
target market
marketing mix
answers: the combination of the four "Ps" of marketing--product, place,
promotion, and price-- that is used to achieve marketing objectives for a target
market
niche marketing
answers: (branding) designing, building, and marketing hospitality products for
specific market segments
, partnership marketing
answers: also known as developing strategic alliances and synergism marketing, it
involves two or more firms--ideally serving similar markets with noncompetitive
products--joining together to benefit from each other's strengths
competition analysis
answers: an evaluation of a business's competition to identify opportunities and
unique selling points; part of a marketing audit
competitive set
answers: for a hotel or restaurant, its competitive set it made up of properties in
the immediate area that sell to similar market segments and offer similar products
and services at a similar price
differentiation
answers: distinguishing and separating your property from those of the
competition
fair share
answers: the number of room nights a property would sell if demand were
distributed based on the number of rooms in each property
feeder city
answers: a city other than the property's city from which guests arrive
guest mix
answers: refers to the variety or mixture of guests who stay at a property or eat at a
restaurant
market segmentation
answers: dividing the market into groups of consumers with similar needs, wants,
backgrounds, incomes, buying habits, and so on
