DECA Hospitality and Tourism Notes

Which of the following items outline the details of a purchase from a vendor and benefit businesses by ensuring clear communication with vendors, preventing duplicate requests, and once signed, acting as legally binding documents:

Purchase orders

Morning Star Hotel values extraordinary customer service. The hotel trains all of its employees to go out of their way to create the perfect guest experience. In other words, excellent customer service is the hotel's brand

Brand promise

Premiums, coupons, point-of-purchase displays, contests, and dealer incentives are all examples of the form of promotion known as

Sales promotion

Which of the following is a visualization tool that involves observing product flow throughout the organization to determine waste and inefficiencies:

Value stream mapping

The unemployment rate is a(n) __________ indicator.

Lagging

Which of the following best exemplifies an individual's career progression:

Advertising coordinator, promotions manager, vice president of marketing

Sherman Antitrust Act

Passed in 1890, the Sherman Antitrust Act was the first federal law in the U.S. designed to combat monopolies, trusts, and combinations that restrained trade or created unfair competition. It authorized the federal government to break up monopolies, prevent price-fixing, and restore free-market competition, marking a significant shift toward regulating industrial power.

Petty-cash fund

A small amount of cash kept on hand by a business to cover incidental expenses

Buzz marketing

Develops from a viral marketing technique used to get consumers talking about a product

Which is included in cash flow calculation used in P/CF? (Price to cash flow ratio)

Depreciation and amortization, which are non-cash expenses, are added back to net income.

Which of the following is NOT a component of Brand Identity?

Customer service is part of the customer experience, but not directly part of the brand identity itself.