IE Unit 1.1 R.H.H.S.F Flashcards
What does the retail industry CONSISTS of?
The RETAIL industry involves selling consumer goods and services directly to consumers.
Name two EXAMPLES of Department stores in the retail industry.
Takashimaya and Isetan.
What are Big Box stores?
Large retailers that specialize in a specific product.
What are some core BUSINESS ACTIVITIES in the retail industry?
Store administration, inventory management, managing receipts, customer service, and sales promotion.
What is the hospitality industry?
The hospitality industry includes hotels, travel and tourism, food and beverage service, event planning,
Name two core BUSINESS ACTIVITIES in the hospitality industry
Supply chain management and service management.
How is retail and hospitality(food) combined in some businesses?
By integrating services like cafes or restaurants into retail spaces, Ikea with Swedish fast food.
What is the key success factor of a retail and hospitality ENVIROMENT?
The emotional bond between the space and the consumer. Like gyms to deliver a better customer experience.
What is a service industry?
A service industry provides intangible products or services that satisfies customers need and wants.
Name two TYPES of services provided in the service industry.
Customer service and healthcare.
What are the two SIDES of a service business?
The front-end (service delivery and customer satisfaction) and the back-end (management and staff functions).
What are some common BUSINESS in the healthcare industry?
Hospitals, clinics.
Name one core business ACTIVITY in the healthcare industry
Research & development or innovation.
What does the Food & Beverage (F&B) industry include?
The preparation, transportation, and serving of food and beverages to customers.
Name two common BUSINESS in the Food & Beverage industry.
Family restaurants and fast food restaurants.
