Examlex
The more tangible the service product, the stronger the cultural values, beliefs, and norms must be to ensure that the guest service employee provides the quality and value of guest experience that the guest expects and the organization wants to deliver.
Third-Degree Price Discrimination
A pricing strategy where a seller charges different prices to different consumer groups for the same product, based on their willingness to pay.
Marginal Cost Function
A mathematical expression that describes how the cost of producing one additional unit of a good or service varies with the quantity produced.
Reservation Price
The maximum amount a consumer is willing to pay for a good or service.
Elasticity of Demand
An index that determines the sensitivity of consumer demand for a product to its price change, by comparing the percent change in the amount of the good demanded with the percent change in its price.
Q4: SERVQUAL assesses guest perceptions, not objective reality.
Q24: Organizations can also use guest participation as
Q25: Who has the most important role in
Q28: Questionnaires are easy to administer than interviews
Q31: You can anticipate, train, and prepare for
Q31: Most guests fill out a comment card
Q39: Communication barriers are likely to lead to:<br>A)
Q50: What is central to knowledge management?<br>A) Predominantly
Q59: Storing bookmarks on a social site so
Q66: The Harvard or author-date system of referencing