Read the summary and the most important questions on FBME

• Lesson week 1

  This is a preview. There are 19 more flashcards available for chapter 01/09/2015
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• Name the 8 steps of the foodservice cyclus.

  1. Consumer and market
  2. Formulation of polity
  3. Interpretation of demand
  4. Convergence of facilities
  5. Provisioning
  6. Production and service
  7. Control of costs and revenue
  8. Monitoring of consumer satisfaction

• What is the difference between systems and traditional approach?

  Systems: Quantitative
  Traditional: Intuitive 

• Name 4 characteristics of a hospitality industry's product.

  1. Perishable
  2. Intangible
  3. Varied demand
  4. Varied output

• Which 6 factors form the business environment?

  Political, economical, socio-cultural, technological, legal and ecological.

• Lesson week 2

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• Name the 3 stages of concept development

  1. Concept development
  2. Develop prototype
  3. Monitoring

• Where does service value consist of?

  - Employees 
  - Service-scape
  - Processes
  - Price fairness
  - Service equity
  - Service convenience 

• What are the 4 idea evaluation techniques?

  - Evaluate existing products
  - Evaluate competitors products 
  - Management and staff brainstorming
  - Surveying customers 

• Lesson week 3

  This is a preview. There are 16 more flashcards available for chapter 14/09/2015
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• Name two types of price methods.

  1. Subjective price method
  2. Objective price method

• Name 5 examples of subjective price methods.

  1. Reasonable price
  2. Highest price
  3. Loss-leader price
  4. Intuitive retail method
  5. Competitive retail method

• Name 7 different pricing methods.

  1. Cost plus
  2. Prime costing
  3. Backward pricing
  4. Rate of return
  5. Profit-per-cusomter
  6. Elasticy pricing
  7. Competition pricing