A new coffee shop has set up a punch-card system where customers that receive 10 punches (one for each purchase in the shop) will then receive a free drink of their choice. This system is what type of customer relationship program initiative?
a. Engaging customers using social media
b. Product customization
c. Customer loyalty program
d. Product placement program
c. Customer loyalty program
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Answer the following statements true (T) or false (F)
1. Benchmark organizations discover which of their competencies guests consider to be core, then focus on bringing their other areas up to that standard. 2. Key drivers can be divided into two categories: basic things that the guests expect and the characteristics and qualities that make the experience memorable. 3. The organization can’t know what factors are the key drivers of guest satisfaction until they study all the drivers. 4. A “wow” can be built into any part of the guest experience. 5. The outstanding hospitality managers get the data, and then combine it with hunches and their own personal preferences to arrive at a decision.
The rate which indicates how quickly a firm collects cash is the _____ turnover ratio
a. cash b. accounts receivable c. sales receipts d. inventory e. asset
Although classical economists assumed that labor was ______, we now know that labor mobility does exist.
Fill in the blank(s) with the appropriate word(s).
What challenges do employers and societies face as a result of people living longer healthier lives?
a. The number of elderly people will outpace the number of young people. *b. There will be roughly equal numbers of people living in each generation. c. Countries will have increased expense as they fund social security and retirement fund programs. d. There will be greater unemployment for younger people as the older people remain in the workforce.