HBM Quiz 3 Study Guide (Lessons 9-13)
• Banks would rather invest in independent restaurants rather than franchised restaurants (T/F)
• Mice tourism generates ___ times more than leisure travelers
o 4-8 times
• The "I" in MICE stands for
• Reasons for meetings:
o To learn
o To share ideas
o To motivate the participant
• All of the following are considered large convention cities EXCEPT:- Chicago- NY Orlando- Phoenix
o All except Phoenix
• Major association meetings require long lead times (__ years) and are often held on a rotating basis in different geographic locations.
If you want to learn more check out Enzymes comes from the greek word what?
o 1-2 years
• Attendance at association meetings and conventions is voluntary and is paid for by the individual participant (T/F) If you want to learn more check out Who is elizabeth kolbert?
• Compass Group was founded in what country?
• Aramark was founded in what country?
• Sodexo was founded in what country?
o FranceIf you want to learn more check out What is a weather forecast?
• Associations that support the hospitality industry tend to be free and if you are in that specific segment that the association represents you can reap the benefits (T/F) o False
• The most important thing in purchasing?
o To maintain appropriate product levels and quality
• You always want to have a vendor that makes deliveries the most times in a week (T/F)
o True ** Almost positive that this is correct; the book says "Usually, the more deliveries the better because you don't have to have the storage capacity and don't have so much tied up in inventory.”
• Serv Safe food handler is a certification recognized by many states so that you can serve and prepare food without obtaining another certification (T/F) o True Don't forget about the age old question of What organ of the urinary system that produces and secretes urine?
• What type of operations usually get the best pricing?
o Chain restaurants
• The document that says what quality, quantity, size, and pack size is referred to as a: o Specification sheet
• When making purchasing decisions a purchasing agent should be fine in receiving what kind of benefit for purchase?
o Bulk discount
• The amount of an item needed to cover a specific amount of time is the: o Par level
• When ordering, the one thing to take into consideration that might change sales levels is:
o Weather/seasons- Special events in area- Current economy(**Answer on the pre/post test was all of the above)
• What are some factors to consider when selecting vendors to deal with? o Price
o Delivery dates and times
• The Objectives of Purchasing:
1. Maintain adequate Supply
2. Maintain Quality Standards If you want to learn more check out What are the types of government safety nets?
3. Minimize investment
4. Maintain Operations Competitive Position
5. Obtain the lowest possible edible portion or as served price
• Purchasing Objective #1 (Maintain Adequate Supply)
o Analysis of outside influences that might affect an operation, such as conventions, festivals, and weather forecast
• Purchasing Objective #2 (Maintain Quality Standards)
o Following the operation's established quality standards for each item or service when purchasing (Specification sheets)
• Purchasing Objective #3 (Minimize investment)
o Anticipated cash needs for a given period, availability of storage for products, and forecasted future costs of items purchased
• Purchasing Objective #4 (Maintain Operations Competitive Position) o Choose vendors who will provide the best combination of price and service for the operations needs
• Purchasing Objective #5 (Obtain the lowest possible edible portion or as served price)
o Operations must focus on the true cost of each item as it is served, not the as purchased "AP" price, (which is the price of an item before all Don't forget about the age old question of Who wrote “an essay on the principle of population” (1798)?
• When purchasing proportioned steaks from a vendor you are making a decision based off what?
o To make or to buy
• Reasons to make (vs. buy)
o Added value must be greater than the added cost
o If it is a signature dish/preparation style
o In general, the food cost will be lower, nutritional value higher, and fewer additives when made instead of bought
• Reasons to buy (vs. make)
o Cost savings/effectiveness
o Time savings/effectiveness
o Saves space
• What is a Kickback?
o Purchaser receives something from the vendor in exchange for choosing that
vendor or product/service; Illegal and the worst ethical violation in purchasing.
• The trade journal that keeps us abreast of the industry through up-to-the-date news, trade show and events schedules, and business/franchise information. o Nations Restaurant News (NRN)
• What is Pro Start?
o Teaches and allows HS students to learn and compete on a local and national level in culinary and management skills
• What association is the leader in chef training and organization in the US? o American Chefs Association (ACF)
• The 4 P's of Marketing:
• To increase trial and try and drive traffic, what is the latest technology that is allowing hospitality firms to reach their clientele?
o Groupon & Living Social
• What would be the concept of marketing where you are communicating your message and your offerings?
• What hotel is NOT considered to have one of the better loyalty programs within the industry?
o Best Western
• What does the equation for value look like?
o Experience - Expectation = Value
• Potential clients can use what sites and apps on their computer or phones to find out where a good place to eat is in the city in which they visiting?
o Yelp, Urban spoon, Trip Advisor
• According to the New York Times, the hospitality industries including restaurants, hotels, and airlines have some of the most loyal guest when compared to other industries. (T/F)
• If you were going to sum up the concept of marketing what phrase would you sum it up with?
o "For whom am I trying to do what?"
• Marketing is probably one of the most important departments within any business that operates within the hospitality industry (T/F)
o A group of people who desire the product/service provided by a business
o The process of communicating a business' message to its market
• The five functions of marketing:
1. Determine what products/services to offer
2. How to position them in the marketplace
3. How to promote them to buyers
4. How to price them so people will buy
5. How to get goods to buyers
• Some argue that more "P's" should be added to the traditional 4 P's of marketing. Their argument would add the following 3 P's for service based industries: o People
o Physical Evidence
• Five main components of a marketing plan:
1. Research the market
2. Establish objectives
3. Develop market strategy
4. Implement action plan
5. Evaluate & modify action plan as needed
• When identifying your target market, it is best to avoid ____ marketing and focus on _____ marketing
o Avoid mass marketing, focus on target marketing
• Ways to attract customers:
o Frequent shopper cards w/ incentives & discounts
o Signature items, secret recipes
o Specials, buy one get one nights
o Educational promos like wine tasting
o Merchandising techniques at the table like unique garnishing
o Paying to present or promote an operation's products, services, or identity
• Sales promotions
o Limited or short-term incentives to entice customers to patronize an operation
• The goal of positioning is to…
o stand out in the crowd
• Three steps of positioning
1. Identify possible ways to differentiate operation within the market/create a unique identity
2. Select the right mix of differentiating aspects
3. Communicate the chosen identity to a specific target market
• Personal selling
o Key to an operation's financial success; Well-trained service staff can go a long way in communicating the operation's message
• Public Relations (PR)
o The process by which an operation interacts with the community
• Direct Marketing
o A concerted effort to connect directly with a certain market segment
• Sales mix analysis (for menu sales only)
o Measures the popularity and the profitability of a group of menu items
• Sales volume (for menu sales only)
o The number of times a menu item is sold in a time period
• Menu engineering
o Systematically breaks down a menu's components to analyze which items are making money/which items are selling
• Loyalty programs, servers, bounce backs, etc. are examples of ________ marketing o Internal
• Radio, print, social media, Groupon, couponing, etc. are examples of ________ marketing
• Use personal references only when you have no other choice (T/F) o True
• One purpose of a cover letter is to introduce yourself when you are not able to do so in person (T/F)
• The average resume gets read in about __ seconds
o 10 seconds
• The suggested number of persons on a list of references is
• To make application materials more noticeable to those who are hiring, the applicant contact information needs to be formatted differently on each submitted sheet (T/F) o False
• The purpose of a resume is to get you
o an interview
• Employers may make hiring decisions based on Facebook or other social media sites postings (T/F)
• Hospitality industry experience can be obtained through
o Internships, externships, hourly positions, salaried positions
• It is always best to address a cover letter to "Dear Sir" or Dear Madam." (T/F) o False
• "Give me an example of a time when you had to make a split-second decision" is an example of a
o Behavioral-based interview question
• Externships vs. Internships
o Externs are put in positions that are very short-term and concentrated to a specific area (i.e. externship at a hotel for banquets over winter break)
o Internships often span a few months and serve as a great way for companies to "test drive" an employee before making a permanent offer