Industry trend
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Transcript of Industry trend
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TREND
A pattern of gradual change in a condition, output, or process
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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
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HOTEL AND RESTAURANT
INDUSTRY
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HOTEL(S)
is an establishment that provides lodging paid on a short-term basis.
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Offer two types of services:1. Accommodation
2. Dining services
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Classifications:
1. Deluxe
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Classifications:
2. First Class
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Classifications:
3. Standard
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Classifications:
4. Economy
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FUNCTION ROOMS
BALLROOMS
HEALTH SPA
COFFEE SHOPS
GIFT SHOPS
NIGHT CLUBS
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Customers of hotels:
Local customers
Foreign visitors
Institutional buyers
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Barriers to entry:
Economies of Scale - The cost advantage that arises with increased output of a product.
Differentiation
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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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“Social media are not just an excellent vehicle for generating ideas; people in the organization should make use of them as well.”