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DECA > STATES > Flashcards

STATES Flashcards

0
Q

Legislative law

A

Establishes government(administrative) agencies

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1
Q

Administrative law

A

Deals with the rules and regulations established by government agencies

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2
Q

Executive branch

A

Guides government policy

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3
Q

Is over booking a flight legal?

A

Yes.

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4
Q

Business process management

A

Striving to align objectives and activities with customer needs.
Stresses innovation, flexibility bs technology

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5
Q

Employee training

A

Eductating workers on how best to preform their job

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6
Q

Organizational structuring

A

The way business functions relate within a company

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7
Q

Continuous improvement

A

Refers to continuously evaluating business processes to make them more efficient

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8
Q

Tangible objects

A

Goods

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9
Q

Productive activities

A

Services

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10
Q

Economic votes

A

Theoretical votes for a product cast by choosing to buy one item over another

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11
Q

Organizational recources

A

Everything a business uses to operate(tangible and intangible items). Important to determine if they have the capacity to adapt using current resources

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12
Q

Productive activities

A

Services

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13
Q

Economic goods

A

Physical goods that are useful, transferable and scarce

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14
Q

Pure risk

A

Risk that can be covered by insurance

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15
Q

Customer incentives for referrals

A

DISCOUNTS (not free products!)

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16
Q

Services

A

Intangible objects that can be sold

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17
Q

Services marketing

A

Action taken to develop, promote, and distribute an intangible object

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18
Q

Product marketing

A

Develops, promotes and distributes a tangible object that can be sold

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19
Q

External source that resort gift shops often use to identify goods and services that customers want and need

A

vendors - they can tell gift shops which of their items are popular with customers.

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20
Q

Vendor

A

A company which sells products to other businesses. They are a good source of information because they deal with many stores and can get a good indication of what customers want and need

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21
Q

Shippers

A

transport and deliver goods

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22
Q

Owners

A

Offer INTERNAL information about what customers like

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23
Q

First step in the project planning process

A

Determine scope and purpose

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24
Q

Capitol goods

A

Include buildings tools and machinery to make goods

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25
Q

Emergency procedures usually include plans for…

A

Disabled customers

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26
Q

Core values

A

Represent the underlying product value and image

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27
Q

What do you need core values to do?

A

Determine a target market.

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28
Q

Penetration pricing

A

a pricing strategy where the price of a product is initially set low to rapidly reach a wide fraction of the market and initiate word of mouth

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29
Q

Psychological pricing

A

A minimal price deduction so the customer feels like there is increased saving even when there isn’t

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30
Q

Price lining

A

Selling a goods at a limited number of predetermined price points

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31
Q

Price skimming

A

When a price is deliberately set high to appeal to those who want to buy it at a high price and be the first to have it, and is then lowered to make it affordable for more customers

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32
Q

Trade magazines

A

Can help track environmental changes in technology that impact hospitality and tourism market

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33
Q

Visitor trends

A

Help predict numbers for upcoming bookings it is likely to receive based on ages, incomes, travel habits etc

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34
Q

Competitive trends

A

Identify directions that other properties are using including price adjustments

35
Q

Growth phase of the business cycle

A

Consumers and producers borrowing more money because interest rates lower which encourages borrowing

36
Q

How to persuade people to go along with change

A

Explain how the change will benefit them

38
Q

Computer technology benefits human resources management by…

A

Electronically processing information

39
Q

Primary hospitality and tourism information

A

Free reception for frequent travelers in which feedback is collected

40
Q

Chamber of commerce

A

Posts tourism information on their websites in different types of statuses like demotraphics and occupancy rates

41
Q

Vacation pay

A

Reinbursment for work done - EARNED income

42
Q

Acounting Information

A

Acounting information helps managers make financial decisions that affect the business hiring more staff

43
Q

Profit and Loss Statement

A

an income statement that shows how much money the business has made or lost

44
Q

`Journals (accounting)

A

special books or computer programs where a business’s transactions are recorded in the order in which they occur

45
Q

Financial records can be…

A

interpreted in different ways

46
Q

Sequential patterns

A

data mining concerned with finding statistically relevant patterns between data examples where the values are delivered in a sequence - HELPS WITH PREDICTING CUSTORMER REACTIONS

47
Q

Cluster relationship

A

Relationships found when items are grouped according to logical relationships

48
Q

-1>R>0

A

One variable increases as the other decreases

49
Q

0>R>1

A

Two variables increase or decrease together

50
Q

R=0

A

Tao variables do not vary together

51
Q

R=1

A

Perfect correlation

52
Q

Digital convergence

A

The tendency of digital services that were once seperate entities to combine into new forms (ex internet offering phone services)

53
Q

Comparing variables

A

Help hotels analyze and interpret marketing information contained in databases to compare several variables that change with each property

54
Q

Legal records

A

Contain payroll records, asset records, promotional records etc

55
Q

Firewalls

A

Protects digital business information from malware

56
Q

Spyware

A

Tracks and captures a computer users internet habits

57
Q

Follow up letters

A

Written following an interview to express appreciation for the inferview regardless of if you were or were not GODESS

58
Q

Trade shows…

A

Help companies obtain sales leads.

59
Q

Color reproduction processes….

A

Define different visible areas

60
Q

Vendor selection

A

Advertising is an important fact. Some vendors help with advertising by giving promotional materials, which gives them an advantage in the selection process

61
Q

Social bookmarking sites

A

Allow users to post tag and rank links to various other sites - del.icio.us is an example

62
Q

Email filters

A

Block out unwanted information - the can only accept mail from accepted addresses or keep emails with certain words in he subject out of the mailbox

63
Q

Color harmonies

A

Most important part of advertising! Colors have to go together for an ad to be effective

64
Q

Corporate image and positioning pricing

A

Setting prices that are consistent with overall company image and positioning - a upscale hotel will set prices high to keep that reputation

65
Q

Discriminatory pricing

A

Involves setting two or more prices to appeal to select markets

66
Q

Corporate pricing

A

Setting prices to meet objectives like profit levels and sale volume

67
Q

Competitive pricing

A

Setting prices based on the prices of the competiton

68
Q

News releases should

A

Be objective in presenting facts

69
Q

Databases

A

Computerized storage of information - tracks marketing communication activities

70
Q

Team selling

A

Involves putting together a team of specialists to sell to a business for large and complex products - helps effectively explain benefits

71
Q

Exclusive agreements

A

Suppliers requirements for its customer to handle only its products or to agree not to handle other companies products - ILLEGAL WHEN IT RESTRICTS TRADE

72
Q

Chanel management

A

Chanel management is changing the Chanel used to promote -ex adding a website

73
Q

Marketing information management

A

Gathering accessing synthesizing evaluating and dissembling information for use in baking business decisions

74
Q

Liabilities

A

ACOUNTS payable, taxes and interests payable added

75
Q

Influencer

A

A person whose credibility allows to share their opinion with a large group of people

76
Q

Travel promotion act of 2010

A

Goal: arrest international visitors to America

77
Q

Mind mapping

A

Technology that allows people to organize a lot of info in an effective way

78
Q

Travel planning

A

Provided by travel agents (producers) who sell to consumers

79
Q

Anti robbery systems include

A

Cash control, video access control

80
Q

Written reports

A

Prepared by managers for other managers to help with decision making

81
Q

Major functions of marketing

A

Selling, pricing, promotion , Chanel management

82
Q

Installment credit

A

Installment credit is a type of credit that has a fixed number of payments

83
Q

Revolving credit

A

Revolving credit is a type of credit that does not have a fixed number of payments

84
Q

Executive report

A

Most important report info

85
Q

Elastic demand

A

Demand that can change when other factors such as price change

86
Q

Non interactive content

A

Plain text, no audio video etc

87
Q

Holding costs

A

What it costs to keep products in stock

DECA (2 decks)

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