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HM: Marketing Hospitality

AB
added-valueWhat advertising adds to the value and reputation of the product, service, or company being advertised.
body copyThe main text of an ad.
competitive pricingBasing prices on what competitors charge.
consumer-based pricingPricing based on what consumers are willing to pay.
cost-plus pricingPrice=Total cost of providing a product or service+a percentage to cover overhead expenses+a predetermined profit margin.
four Ps of marketingThe four basic marketing responsibilities: product, place, price, and promotion.
elasticity of demandA measure of customer responsiveness to changes in price.
headlineThe most prominent part of a print advertisement, in which a promise or benefit is often expressed.
integrated marketing communicationsA markating model in which all marketing activities are coordinated.
logotype (logo)A unique trademark, name, symbol, signature or device used to identify a company or other organization.
loss-leadersItems sold at or below cost in order to attract customers to a business, where they may buy other items that are profitable.
market segmentationThe classification of customers into groups or segments based on a variety of factors e.g. age, income.
marketing mixThe variety of marketing activities that a business engages in.
posotioningHow a customer perceives the products or services offered by a particular advertiser in relation to similar ones offered by another.
public relationsA systematic effort by a business to create a positive impression as it communicates favorable information about itself to various internal and external publics.
publicityThe editorial mention in the media of an organization's people, products, or services.
revenue managementA hotel pricing system that is used to yield the maximum revenue possible.
sales promotionSales tools and techniques designed to generate an immediate response.
signatureThe name of an advertiser as it appears on a print ad.
target marketingMarketing that is designed to appeal to a specific consumer group.

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