Question 1over the past years the accommodation industry , Ask an Expert

Management Studies

Question 1:

Over the past years, the accommodation industry in general has had to move away from a captive market, diversify its range of products and services in order to be competitive in an almost saturated market. With at least two examples for each, explain the following terms:

(i) The accommodation industry
(ii) A captive market
(iii) Product diversifcation
(iv) Range of products and services
(v) Saturated market [6 marks each]

Question 2:

Discuss and explain why it may not be economically viable for the management of a hotel to use a pricing method that is totally dictated by the market forces of supply and demand.

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Management Theories, Management Studies

Category:- Management Theories
Reference No.:- M9589264

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