Complete With 100% Correct Answers
\.General info about hospitality - ANSWERS✔-1. one of the fastest FASTEST
growing industry in the world
2. Dynamic: fast paced, exciting, different every day
3. Product is INTANGIBLE (vs. manufacturing product, tangible/touchable)
\."The moment of truth" - ANSWERS✔-term used in service industry to describe
numerous experiences that happen simultaneously in hospitality organizations
-any time guest comes in contact w/ anything or anyone that represents operation
-ideally positive; become happy memories for guests
-cannot be taken back
-Hospitality is all about managing the moments of truth occurring throughout
business operation
,\.Economy - ANSWERS✔-3 separate parts: agriculture, manufacturing, service.
-dominance shifts between the 3 bc people acquire different skills
TODAY: service industry is dominate
-quality of product rests in minds of guest
-skills: interpersonal and intellectual
\.Industry Segments - ANSWERS✔-Largest:
-lodging
-food service
Smaller (yet thriving):
-recreation
-entertainment
-travel
\.Lodging - ANSWERS✔-Types:
-resorts, inns, economy motel, bed and breakfast, mega hotel, exclusive converted
castle
-common bond: all have sleeping rooms
Guest Rooms
, -perishable product (if not booked, revenue lost forever)
-management challenge: knowing how to sell room based on customers'
expectation/perception of value
\.Lodging vs. Food - ANSWERS✔-profitability percentage (%) of a sold guest room
is usually higher than from selling a meal
-goal: sell rooms
-marketing challenge: bring people to property to buy rooms
-guest determine perceived Quality/Value
\.Food Service - ANSWERS✔--growing at dramatic rate
-growth primarily resulting from lifestyle changes among society
-more fams eat out
-changing demographic profile of fams
-more adults working/ longer hours
-inadequate time to prepare meals
business growing bc caters to many types of consumers needs:
-hunger
-getting together w friends
-special occasions
-impressing someone