M&S1, Answers Chapter 7

MARKETING& SALESHOSPITALIT Y MARKETING & SALES FOR THE HOSPITALITY INDUSTRY ELLEN VAN KOOTEN Chapter 7 | Answers | Questions about the chapter 1

Marketing & Sales for the Hospitality Industry | Part 1Chapter 7 | Answers | Questions about the chapter1. Using market research, the entrepreneur can: a. Properly set his administration in order digitally. b. Train the staff properly before the summer season starts. c. Change the menu according to the season. d. Quickly identify changes in the demand and supply conditions.2. The entrepreneur can use a guest survey to get more insight into: a. The guest’s wishes, needs and satisfaction. b. How often the guest visits and how much is spent each time. c. Precisely how many dishes are sold in a certain period. d. What guests like to see in the business.3. What is market research? The entrepreneur can use market research to quickly identify changes in the demand and supply conditions. Good market knowledge is worth its weight in gold. Reliable and up-to-date market knowledge gives the entrepreneur an edge over his competitors. It reduces uncertainties and increases the chances of making the right decisions.4. Name and substantiate three marketing problems. 1. Changes often only become clear over time; 2. Market research could be subjective; 3. Not every hospitality entrepreneur knows something about statistics.5. Marketing potential is the sum of the effective demand and the potential demand. What is the difference between the effective demand and the potential demand? The actual (realised) sales in the current market are therefore also called the effective demand instead of the real demand. consumer needs can be differentiated into manifest needs and latent (dormant) needs. The latent needs are actually the not yet manifested demand of those that have an interest in a certain product or service and who, in principle, can and want to buy. These so-called sales opportunities (only realisable under ideal conditions with optimal marketing efforts of all providers) are the potential demand in the market.6. When calculating a sales forecast, the entrepreneur should first do desk research on the following points in order to gain insight into this information: Insight into Description Source (where can the entrepreneurThe size of the market area The business type chosen by the hospitality entrepreneur should find this information?)The composition and size of the have a particular service area. Cebuco areatarget group The entrepreneur should indicate which market segments Koninklijke Horeca NederlandThe average spending per fall within his target group. (KHN); Chamber of Commerce;customer in the target group the municipality; VVVAn estimate of the sales of the Information about spending by organisations; the province; andother providers individuals on hospitality CBS statistics. services. CBS statisticsThe possibilities of the own The hospitality entrepreneurhospitality business should know the amount of The observation of competitors sales demanded by the direct mainly involves the number of and indirect competitors in the visitors at certain times (around market area. lunch and in the evenings) and the average spending of the The hospitality entrepreneur will guests. have to estimate the appeal of Own business his business formula.Version 1 | 01-10-2018 | [email protected]