Hospitality Services Team Decision Making

Market Identification

The process of a marketer in identifying the most profitable areas to offer a new product or service.

Market Planning

Typically results in a marketing strategy that can be used to enhance sales for the business producing it.

Financial Analysis

Evaluating an organization’s financial statements to determine the profitability of the organization, a division within the organization or a specific event or project.

Press Release

An announcement made by a business that is sent to the media.

Banner Ads

An advertisement that runs along the top, bottom or sides of a website.

Visual Merchandising

Conveying a certain image to customers through the manipulation of physical elements within a business

Consumer Protection

Federal and state laws that regulate the sale and credit policies surrounding consumer sales.

Buzz Marketing

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

Guarantees

A commitment from a company that their product will perform as described.

Marketing Plan

A formal document that specifies a company’s activities for a determined amount of time

Cash Flow

Refers to the amount of money coming into and going out of a business.