Question

In: Accounting

Illustrate how a hotel, restaurant, or theater can deal with the intangibility, inseparability, variability

Illustrate how a hotel, restaurant, or theater can deal with the intangibility, inseparability, variability, and perishability of the service it provides. Give specific examples.

Solutions

Expert Solution

Assign students to four groups and have each group discus one of the service characteristics. Ask each group to present their own interpretation of their assigned service characteristic and provide examples.

For example, a hotel can ensure that the product being offer is well maintained, clean and is suitable for the image it is trying to project in its customers’ minds. The inseparability and variability concerns are addressed by the continuous training and development of the employees (both those who interact with customers and those who don’t). The perishability concern is best addressed by deploying suitable revenue management strategies

 


Related Solutions

The four major characteristics of services are intangibility, inseparability, variability and perishability. Managers could efficiently incorporate...
The four major characteristics of services are intangibility, inseparability, variability and perishability. Managers could efficiently incorporate these characteristics into their strategies and increase firms’ profit. For example, yield management (also called revenue management) is a differential pricing strategy utilizing the perishability characteristic. Yield management is to charge the right customer the right price at the right time. Service providers often have capacity constraints (think about hotels, airlines, and restaurants). For example, if a flight departs from Chicago to New York...
as a marketing director for an hotel, illustrate with the use of a diagram how you...
as a marketing director for an hotel, illustrate with the use of a diagram how you can apply the service marketing mix to the hotel
Can a hotel or restaurant increase or maintain customer satisfaction after implementing its
Can a hotel or restaurant increase or maintain customer satisfaction after implementing its first revenue management program? Explain your answer.
Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the...
Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the number of rooms occupied per day during a particular season of the year. A sample of 24 days of operation shows a sample mean of 299 rooms occupied per day and a sample standard deviation of 32 rooms. What is the point estimate of the population variance? Provide a 90% confidence interval estimate of the population variance (to 1 decimal). ( ___,____ ) Provide...
Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the...
Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the number of rooms occupied per day during a particular season of the year. A sample of 29 days of operation shows a sample mean of 300 rooms occupied per day and a sample standard deviation of 35 rooms. What is the point estimate of the population variance? Provide a 90% confidence interval estimate of the population variance (to 1 decimal). (  ,  ) Provide a 90%...
Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the...
Because of staffing decisions, managers of the Gibson-Marimont Hotel are interested in the variability in the number of rooms occupied per day during a particular season of the year. A sample of 24 days of operation shows a sample mean of 294 rooms occupied per day and a sample standard deviation of 26 rooms. What is the point estimate of the population variance? 676 Provide a 90% confidence interval estimate of the population variance (to 1 decimal). ( , )...
8pts Illustrate and explain how fiscal policy might be used to deal with the crisis you...
8pts Illustrate and explain how fiscal policy might be used to deal with the crisis you modelled in the previous question. Can fiscal policy do a good job of fixing the problem? What are some practical problems or consequences of implementing fiscal policy in this situation? Previous Question 8pts by applying the AD-SAS-LAS model, model the short-run and long-run economic impacts of the current COVID-19 crisis, assuming no fiscal or monetary intervention. Are the predictions of your modelling exercise consistent...
The restaurant at the Hotel Galaxy offers two choices for breakfast: an all-you-can-eat buffet and an...
The restaurant at the Hotel Galaxy offers two choices for breakfast: an all-you-can-eat buffet and an a la carte option, where diners can order from the menu. The buffet option has a budgeted meal price of $44. The a la carte option has a budgeted average price of $33 for a meal. The restaurant manager expects that 40 percent of its diners will order the buffet option. The buffet option has a budgeted variable cost of $24 and the a...
Q3: Why can a hotel, motel, or restaurant usually operate with a current ratio considerably lower...
Q3: Why can a hotel, motel, or restaurant usually operate with a current ratio considerably lower than other types of businesses, such as manufacturing companies?
The restaurant at the Hotel Galaxy offers two choices for breakfast: an all-you-can-eat buffet and an...
The restaurant at the Hotel Galaxy offers two choices for breakfast: an all-you-can-eat buffet and an a la carte option, where diners can order from the menu. The buffet option has a budgeted meal price of $45. The a la carte option has a budgeted average price of $34 for a meal. The restaurant manager expects that 40 percent of its diners will order the buffet option. The buffet option has a budgeted variable cost of $25 and the a...
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT