You are responsible for evaluating potential market segments for your hotel comp

Question

You are responsible for evaluating potential market segments for your hotel company's latest brand of apartment-style lodging. You've spent several years working in the hospitality sector and realize that it is increasingly competitive.

Your boss gave you good advice about how to proceed. Which of the following comments did he make?

"Remember that hotel bookings are significantly influenced by overall economic trends. You'll need the most reliable economic forecast if you choose to use the buildup approach." "Before estimating market potential, be sure to anticipate the likelihood that apartment-sharing websites will enter the market." "In addition to estimating market potential and company sales potential, you should determine average return on investment for the hotel industry." "You can do a limited competitive assessment because the company has already compiled a list of current competitors." "After you've estimated market potential, you can make assumptions about the level of industry-wide marketing activity."

Explanation / Answer

"Remember that hotel bookings are significantly influenced by overall economic trends. You'll need the most reliable economic forecast if you choose to use the buildup approach." Is the best advice Given by the boss

Related Questions

Navigate

• Browse (All)
• Browse Y
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.