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TREND
A pattern of gradual change in a condition, output, or process
INDUSTRY TREND
Are patterns that occur within a specific industry
These trends may relate to price, cost, manufacturing, consumer purchasing, sales methodology, or any number of areas
HOTEL AND RESTAURANT
INDUSTRY
HOTEL(S)
is an establishment that provides lodging paid on a short-term basis.
Offer two types of services:1. Accommodation
2. Dining services
Classifications:
1. Deluxe
Classifications:
2. First Class
Classifications:
3. Standard
Classifications:
4. Economy
FUNCTION ROOMS
BALLROOMS
HEALTH SPA
COFFEE SHOPS
GIFT SHOPS
NIGHT CLUBS
Customers of hotels:
Local customers
Foreign visitors
Institutional buyers
Barriers to entry:
Economies of Scale - The cost advantage that arises with increased output of a product.
Differentiation
RESTAURANT(S)
- is a business establishment which prepares and serves food and drink to customers
- is relatively easy to get in
- Marketing strategies include: price coupons, discounts, and gift items
- Most important factor: CUSTOMER SERVICE!
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