1. Discuss the importance of marketing activities for each of the segments listed in the previous question.
   1. Discuss and explain how important you think advertising is for each of the market segments. Provide specific examples.
   2. Discuss and explain how important you think personal sales is for each of the market segments. Provide specific examples.
   3. Discuss and explain how important you think sales promotions are for each of the market segments. Provide specific examples.
   4. Discuss and explain how important you think public relations are for each of the market segments. Provide specific examples.
2. What is the difference between Capital and Operating Budget?
3. According to the simulation manual, how can you increase the quality rating for your hotel in the simulation?
4. Explain what diminishing marginal return is. Discuss if you can use the diminishing marginal return concept when you make your expenditure decisions. Give a specific example.
5. What is a positioning map? Explain and discuss how you can use positioning maps to make better managerial decisions.

Provide an evaluation of two proposed projects, both with 5-year expected lives and identical initial outlays of $110,000. Both of thj4ese projects involve additions to Liburdi’s high highly successful hotel product line, and as a result, the required rate of return on both projects has been established at 12 percent. The expected free cash flows from each project are as follows:

In evaluating these projects, please respond to the following questions:

1. Why is capital-budgeting process so important?
2. Why is it difficult to find exceptionally profitable projects?
3. What is the payback period on each project? If Liburdi imposes a 3-year maximum acceptable payback period, which of these projects should be accepted?

Using Excel

Data in Travel file shows the average number of rooms in a variety of U.S cities and the average room rate and the average amount spent on entertainment. A company that run events for hotel residents wants to predict the amount spent on entertainment based on room rate and number of rooms.

Run the regression analysis. Are the coefficients statistically significant? Do we need to drop one of these variable? Which variable? Interpret the slope of the estimated regression equation?

Develop the least squares estimated regression equation. The average room rate in Chicago is $128, predict the entertainment expense per day for Chicago.

1. In the following three situations, the market is initially in equilibrium. Explain the changes in either supply or demand that result from each event. After each event described below, does a surplus or shortage exist at the original equilibrium price? What will happen to the equilibrium price as a result? Demonstrate your answer graphically.
A. 2015 was a very good year for California wine-grape growers, who produced a lot of grapes.
B. After a hurricane, Florida hoteliers often find that many people cancel their upcoming vacations, leaving them with empty hotel rooms.
C. Consider the market for new snowblowers. After a heavy snowfall, many people want to buy second-hand snowblowers at the local tool shop.
2. Use a supply and demand model to explain how the following occurrence is possible.
Lobster prices usually fall during the summer peak lobster harvest season, despite the fact that people like to eat lobster during the summer more than at any other time of year.

Text exercise 39 page 638. This question uses the same data as exercise 2 above, and the data is in the accompanying spreadsheet.

(a) Estimate the regression in Excel and report the regression line.                                  [2 pts]

(b) Calculate a  95% confidence interval for the forecast of the average amount spent on entertainment at a city where the room rate is $89.                                                       [3 pts]

(b) Calculate a  90% confidence interval for the forecast of the idiosyncratic amount spent on entertainment at a city where the room rate is the average rate of $128.                        [3 pts]

(d) Use a t-test to test the hypothesis that there is a 1 to 1 relationship between entertainment expenses and hotel expenses. (ie test H0: β=1)                                                    

DATA:

[The following information applies to the questions displayed below.] The following data pertain to the Aquarius Hotel Supply Company for the year just ended. Budgeted sales revenue

Required: 1. Compute the firm’s predetermined overhead rate for the year using each of the following common cost drivers: a. machine hours b. direct labor hours c. direct labor dollars

2. Calculate the overapplied or underapplied overhead for the year using each of the following cost drivers. a. machine hours b. direct labor hours c. direct labor dollars

Forecasting Exercise Every year the U of I hosts the Lionel Hampton Jazz Festival. Below you will find some issues that need to be forecast in order to provide the best experience possible to customers, develop effective plans, and deliver "profits" to businesses. How many schools (and students) will be attending? How many will attend Saturday night’s concert? (Lionel Hampton Jazz Festival Big Band) What will be room availability in Lewiston because of the festival? What should I charge for my hotel rooms during the busy weekend? Is there a threshold? How much more should Casa Lopez be ordering for Thursday, Friday, and Saturday? What will the economic impact be to the city of Moscow? Select two or three and write a double-spaced paper telling what you forecasted and how you came up with the forecast you made – discuss the mechanics of how you would develop your forecasts. The specific numbers are not as important as demonstrating a well thought out approach to your forecast.

The Marriott company (Marriott: Reducing Our Footprint) makes the following claim about its "sustainability strategy":

Our sustainability strategy supports business growth and reaches beyond the doors of our hotels to preserve and protect our planet’s natural resources. Marriott’s environmental goals are to:

• Further reduce energy and water consumption 20% by 2020 (Energy 20 percent per kWh/conditioned m2; Water 20 percent per occupied room (POR). Baseline: 2007);
• Empower our hotel development partners to build green hotels;
• Green our multi-billion dollar supply chain;
• Educate and inspire associates and guests to conserve and preserve;

Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation.

Find statements from two other companies that detail their environmental; policy/sustainability strategy. Summarize those statements. Critically evaluate the policies/strategies - Are they good policies/strategies? Will they truly help the environment?

For this assignment, you play the role of an marketing analyst for an online travel site called GlobalTrekTravel (GTT, a fictitious online business used for this course). GTT is focused on international travelers and provides online booking tools for airfare, ground transportation, hotel and sight-seeing tours, travel insurance, language support with translation services, passport and visa document preparation, and medical immunization recommendations. In sum, GTT addresses all needs of an international business or holiday travelers to have successful journeys. GTT’s marketing focuses on this value proposition: “We give you integrated travel services for all your International business and personal travel needs, saving time and frustration. We stay current to the world’s everchanging travel conditions, reducing your travel stressors.”

Your objective is to help them better understand their customers and find ways to use digital channels and data to serve their needs. They are seeking a customer journey analysis, that will allow them to take appropriate action.

The Marriott company (Marriott: Reducing Our Footprint) makes the following claim about its "sustainability strategy":

Our sustainability strategy supports business growth and reaches beyond the doors of our hotels to preserve and protect our planet’s natural resources. Marriott’s environmental goals are to:

• Further reduce energy and water consumption 20% by 2020 (Energy 20 percent per kWh/conditioned m2; Water 20 percent per occupied room (POR). Baseline: 2007);
• Empower our hotel development partners to build green hotels;
• Green our multi-billion dollar supply chain;
• Educate and inspire associates and guests to conserve and preserve;

Address environmental challenges through innovative conservation initiatives including rainforest protection and water conservation.

Find statements from two other companies that detail their environmental; policy/sustainability strategy. Summarize those statements. Critically evaluate the policies/strategies - Are they good policies/strategies? Will they truly help the environment?