Glossary of Industry Terms
The broad forces in society and the business world that impact most companies.
A firm that owns several lodging properties.
Final official listing of all passengers and/or cargo aboard a transportation vehicle or vessel.
All existing and potential customers for a product or service.
The amount of a specific product or service that may be purchased during a certain period of time in a particular geographic area.
The realistic demand within a given time period for the products produced by all companies within a ceratin industry or product category.
The process of dividing a broad market into smaller, specific markets based on customer characteristics, buying power, and other variables.
The 4 Ps of marketing: product, price, promotion, place (distribution).
A written report that details marketing objectives for a product or service, and recommends strategies for achieving these objectives.
The function that links the consumer, customer, and public to the marketer through the systematic gathering and analyzing of information.
A percentage added to the cost of a product to achieve a selling price.
Pricing a product by adding a standard markup to costs. Also called cost-plus pricing.
The guest account for a particular group or function that will be paid by the sponsoring organization. See folio.
Communications channel such as broadcast (radio, TV), print (newspapers, magazines, direct mail), outdoor (billboards), and multimedia (Internet).
A pre-purchased service for meeting and greeting clients upon arrival in a city, usually at the airport, pier, or rail station, and assisting clients with entrance formalities, collecting baggage, and obtaining transportation.
A tour designed around a specific meeting or conference for the participants.
Those forces close to a company that impact operations and marketing programs.
The concise description of what an organization is, its purpose, and what it intends to accomplish.
A large, comfortable bus that can transport travelers and their luggage long distances.
A tour that features the motorcoach as the form of transportation to and from destinations.
Motorcoach tour operators
Tour operators that own their own motorcoaches.
A travel package of two or more days. Most multi-day tours are escorted, all-inclusive packages.
A tour that features a staged "murder" and involves travelers in solving the crime.
A journey to unpublicized destinations in which tour takers aren’t told where they will be going until en route or upon arrival.