Tech in Tourism Midterm Review

To discover what type of restaurant is missing in the area, you can:

• look at the phone book and internet listings

• ask people who live there

• walk and drive around the area

• all of these

What two groups are the primary focus in market research?

• men and women

• rich and poor

• survey takers and heads of households

• customers and competitors

Target marketing refers to:

• picking a specific number as your sales goal and adjusting your marketing to meet the goal

• focusing all your marketing dollars in a particular media, such as TV or print

• focusing your marketing on a specific group, such as teens or families

• none of the above

If there formerly was a restaurant at the location you want to lease, your success is assured

• true

• false

When choosing a location, traffic and pedestrian traffic are a major consideration.

• true

• false

Arianna's Holy Cow Burrito Truck in Daytona Beach has fewer customers in the winter. Why?

• parking

• restaurant theme

• there are more tourists in the summer

• bathroom decor

Which of these demographic elements can help you to determine a successful location?

• who lives there or travels there

• the earnings of those living nearby

• the area's popularity

• all of these

The primary purpose of the Income Statement is to:

• track the assets of the business

• track the liabilities of the business

• show revenue, expenses, and profit

In which order do items appear on the income statement (also known as a P&L statement)?

• profit, revenue, expenses

• revenue, profit, expenses

• expenses, revenue, profit

• revenue, expenses, profit

Financial statements are important for:

• managing the business

• filing accurate tax documents

• getting financing from banks

• all of these