Influences upon prices decision making
Influences upon prices decision making- Price decision making is influenced by a variety of factors, both internal and external to the organization. Here are some key influences: Costs: Internal factors…
FOOD AND BEVERAGE MANAGEMENT
Principles of prices
Principles of prices- The principles that govern prices in economics can be summarized as follows: Supply and Demand: This is perhaps the most fundamental principle of pricing. Prices are determined…
Price
Price- Prices can be classified into several types based on various criteria. Here are some common classifications of prices: By Nature of Transaction: List Price: The price set by the…
Product differentiation in hotel and catering industry
Product differentiation in hotel and catering industry- Product differentiation in the hotel and catering industry involves creating unique attributes or characteristics in products or services that set them apart from…
Product life cycle
Product life cycle- The product life cycle is a business concept that describes the stages a product goes through from its introduction to the market to its eventual decline and…
Overview of a marketing plan
Overview of a marketing plan- A marketing plan is a comprehensive document that outlines a company's marketing strategy for a specific period, usually a year. It serves as a roadmap…
New product development‐brand names
New product development‐brand names- Developing a brand name for a new product is a crucial step in product development, as the brand name significantly influences consumer perception, recognition, and loyalty.…
Service and Image
Service and Image- "Service and Image" can be interpreted in various contexts, depending on the field or situation. Here’s a breakdown of how each term might be understood individually and…
The hotel product and its components of physical aspects
The hotel product and its components of physical aspects- The hotel product typically refers to the combination of elements and services that hotels offer to their guests. These components can…
Definition of product and service
Definition of product and service- Sure, here are straightforward definitions of both "product" and "service": Product: A product is a tangible item that is manufactured or produced through a process…