Most important Abbreviation.

AAA - American Automobile Association

B2B - Business-to-business

B2C - Business-to-consumer

BCG - Boston Consulting Group matrix

EU - European Union

GAAP - Generally accepted accounting principles

GDP - Gross domestic product

GHG - Greenhouse gas

GNI - Gross national income

GNP - Gross national product

IMF - International Monetary Fund

MICE - Meetings, incentives, conferences and exhibitions

NGO - Non-governmental Organisation

PATA - Pacific Asia Travel Association

SWOT - Strengths, weaknesses, opportunities and threats

VAT - Value Added Tax

VFR - Visiting friends and relatives

VR - Virtual reality

WHO - World Health Organization

WTO - World Tourism Organization

Comments

What is Service? Explain four characteristics of Service?

Service: An activity, benefit or satisfaction offered for sale that is essentially intangible and does not result in the ownership of anything is called Service. For example - Banking, hotel, airline travel, retail, wireless communication, and home repair services. Characteristics of Service: There are four characteristics of services when designing marketing programs. Intangibility Inseparability Variability Perishability Intangibility: Services cannot be seen ,tasted, felt, heard, or smelled before they are purchased. For example: People undergoing cosmic surgery cannot see the result before the purchase. Inseparability: Services are produced and consumed at the same time and cannot be separated from their providers, whether the providers are people or machines. If a service employee provides the service , then the employee becomes the part of the service. Variability: The quality of services may vary greatly depending on who provides them and when, where, and how they are p

What is the full meaning of SMART?

SMART S = SPECIFIC M = MEASURABLE A = ACHIEVABLE R = REALISTIC T = TIME - LIMIT

What are service marketing mix? What are the 7p's of Service marketing?

Service Marketing Mix One of the major concepts in modern marketing is the marketing mix, defined as the elements an organization controls that can be used to satisfy or communicate with customers. It consists of everything the firm can do to engage customers and deliver customer value. It consist of 7p which are 1. Product 2. Price 3. Place(Distribution) 4. Promotion 5. People 6. Physical Evidence 7. Process Product : Product means the goods and services combination the company offers to the target market. Physical good features Quality level Accessories Packaging Warranties Product line Branding Price : Price is the amount of money customers must pay to obtain the product. Channel type Exposure Intermediaries Outlet locations Transportation Storage Managing channels

Tourism & Marketing Teach -T&M Teach

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