Product’s elements and the satisfaction of the customer’s needs in the hospitality sector

2016 ◽  
Vol 17 (4) ◽  
pp. 0-0
Author(s):  
Agnieszka Górka-Chowaniec
Keyword(s):  
Supply And Demand ◽  
Market Expansion ◽  
Marketing Orientation ◽  
Hospitality Sector ◽  
Market Needs ◽  
The Impact

An integral part of modern marketing orientation becomes thinking about the consumer and his needs. Hospitality sector enterprises seeking to achieve long-term success in the market expansion need to continuously identify consumer’s market needs and understand their essence. On the basis of these messages they should accurately adjust current product’s offer to disclosed consumer’s market needs and preferences as well as continuously strive to maximize their satisfaction. The author of the article characterized hospitality sector products, explaining its essence and elements. The Author showed the impact of particular hospitality product elements on the consumer’s behaviour. The author also drew attention to relations between the supply and demand sides of the hospitality market, pointing to the need to adjust hospitality sector product to the needs of the analyzed consumer’s segment.

scholarly journals The Impact of COVID-19 on Hospitality Industry in Greece and Its Treasured Santorini Island

2021 ◽  
Vol 13 (14) ◽  
pp. 7906
Author(s):  
Nikola Medová ◽  
Lucie Macková ◽  
Jaromir Harmacek
Keyword(s):  
Social Impact ◽  
Tourism Sector ◽  
Challenges And Opportunities ◽  
Multiple Variables ◽  
Hospitality Sector ◽  
Tourism And Hospitality ◽  
The Impact ◽  
Further Development

This paper focuses on the dynamic of the recent upheaval in the tourism and hospitality sector due to the COVID-19 epidemic in Greece and Santorini island. It uses the case study of a country one-fourth of whose GDP consists of tourism. We compare the available statistical data showing the change in variables in the previous years with 2020 and look into the new challenges and opportunities posed by the drop in the numbers of visitors and flights. We focus mainly on the economic and social impact on the destination and possible future scenarios for further development in the area. Data show a significant effect of the pandemic on multiple variables, such as the long-term trend of the importance of tourism sector in GDP in Greece, the number of flights and visitors to Greece and Santorini island, and the contribution of tourism and travel to GDP. Based on the available data, we also construct three foresight scenarios that describe the possible futures for Santorini island in terms of the pandemic evolution. These scenarios may help various stakeholders and policymakers to be better prepared for different developments that may appear.

scholarly journals The Grain Market between the Reigns of Alexey Mikhailovich and Catherine the Great: Was there a ‘Price Revolution’?

2021 ◽  
Vol 9 (3) ◽  
Author(s):  
Arthur Mustafin
Keyword(s):  
Eighteenth Century ◽  
Supply And Demand ◽  
Wide Range ◽  
Grain Market ◽  
The Impact ◽  
First Time ◽  
The Relationship ◽  
Regions Of Russia ◽  
Grain Prices

The author of this article attempts to reveal and systematise archival data on grain prices in Russia between the 1650s and 1700s and analyse their dynamics by comparing them with data for the eighteenth century. The study is based on a wide range of archival sources from the funds of the RSAAA (RGADA), CSA of Moscow (TsGA of Moscow), DM NLR (OR RNB), and SFI CANNR (GKU TsANO). The data from these sources make it possible to construct time series describing rye and oat price dynamics in the northern and central non-black earth regions of Russia. The author substantiates the homogeneity and reliability of the data received and determines the real prices. The resulting numbers make the author doubt the “price revolution” in eighteenth-century Russia. Throughout the eighteenth century, the average real prices remained below the level of the 1660s and 1670s. Only in the 1790s did prices briefly exceed this level. Overall, the Russian grain market was characterised by long-term price fluctuations. The author aims to explain this dynamic by analysing supply and demand in the grain market. More particularly, for the first time in the historiography, the author examines the connection between Russian grain prices and yield in the second half of the seventeenth and eighteenth centuries. It is established that in most cases, the relationship between these indicators was direct: as grain yield increased, prices did too. The article explains this seeming paradox. The data published by the author help not only to estimate the impact of various factors on grain prices during the period in question, but also solve practical tasks regarding various price indicators in grain equivalents.

scholarly journals From Pilot to Scale - A Framework for Development Practitioners for Market Driven Vocational Training

2021 ◽  
Vol 22 (2) ◽  
pp. 653-674
Author(s):  
Jaime Moll de Alba ◽  
Virpi Stucki
Keyword(s):  
Industrial Development ◽  
Manufacturing Sector ◽  
System Development ◽  
Supply And Demand ◽  
Skills Acquisition ◽  
The Public ◽  
The Impact

Partnerships bringing together both the private and the public sector, as well as development actors might play an important role in facilitating the acquisition of skills and thereby support sustainable socio-economic development, notably in the manufacturing sector. The participation of the private sector in such partnerships contributes to enhance the adequacy between skills supply and demand and thereby spurs employability and economic activity. This paper makes use of the case study method to analyse the role of this kind of partnership in skills acquisition in five industrial development projects in Africa. We hypothesize that the Market System Development (MSD) approach offers potential to enhance the impact of skills acquisition partnerships. We conclude by proposing an innovative framework to support policymakers and development practitioners to conceptualise new skills development partnerships through the application of the MSD approach contributing to systemic change and long-term sustainability.

The Importance of Subsurface Characterization and Monitoring During Development and Operation of Underground Gas Storage Facilities

2021 ◽  
Author(s):  
Romain Guises ◽  
Emmanuel Auger ◽  
Sanjeev Bordoloi ◽  
Ayodele Ofi ◽  
Colin Cranfield ◽  
...  
Keyword(s):  
Supply And Demand ◽  
Gas Storage ◽  
Initial Assessment ◽  
Underground Gas Storage ◽  
Seamless Integration ◽  
Efficient Operation ◽  
Subsurface Characterization ◽  
Facilities Design ◽  
The Impact

Abstract Natural gas consumption is expected to grow significantly in coming decades in response to cleaner energy initiatives. Underground gas storage (UGS) will be key to addressing supply and demand dynamics for this transition to be successful. This technical paper will demonstrate the importance of an integrated subsurface characterization and monitoring approach not only for the construction of UGS, but also to guarantee safe and efficient operation over many decades. Key to long-term success of UGS is maximizing working capacity with respect to volume and pressure and maintaining well injection and withdrawal capabilities. Initial assessment steps involve determination of maximum storage capacity and an estimation of required cushion gas volumes. In similar manner to conventional field evaluation, we perform an integrated geological, geophysical, petrophysical and geomechanical characterization of the subsurface. However, for UGS facilities, the impact of cyclic variations of reservoir pressures on subsurface behavior and cap rock integrity also needs to be evaluated to determine safe operating limits at every point in time during the life of the UGS project. The holistic approach described above allows the operator to optimize the number of wells, well placement, completion design, etc. to ensure long-term safe and efficient operations. Furthermore, close integration of subsurface understanding with optimization of surface facilities, such as the compression system, is another critical component to ensure optimum UGS performance and deliverability. Moreover, another important task of the final phase of UGS facilities design involves enablement of sustainable operation through an asset integrity management plan. This phase is articulated around reservoir surveillance plans that monitor pressure, rock deformation and seismicity, in addition to regular wellbore inspection. Through close operations monitoring and the utilization of advanced data analytics, observations are compared to existing models for validation and operation optimization. Importantly we show that adapted monitoring programs provide critical long-term insight regarding the field response during successive cycles, leading to significant improvement in working gas capacity. A key consideration of this integrated UGS development strategy is based on the seamless integration of subsurface characterization, wellbore construction and well completions to ensure technical and commercial flexibility. The approach also emphasizes the integration with surface facilities design to ensure a true "Storage to Consumer" view for effective de-bottlenecking. Coupled with integrated subsurface integrity monitoring, this ensures a faster, cost efficient and safe response to the construction and operation of UGS facilities.

scholarly journals Marketing orientation in SMEs: Effects of the internal environment

2003 ◽  
Vol 6 (1) ◽  
pp. 15-24 ◽  
Author(s):  
Richard C. Becherer ◽  
Diane Halstead ◽  
Paula Haynes
Keyword(s):  
Small Businesses ◽  
Superior Performance ◽  
Internal Variables ◽  
Marketing Orientation ◽  
Profit Performance ◽  
Improved Performance ◽  
High Degree ◽  
The Impact ◽  
Ceo Characteristics

Marketing orientation refers to a culture in which organizations strive to create superior value for their customers (and superior performance for the business) by focusing on customer needs and long-term profitability. Some studies have found that firms with a high degree of marketing orientation experience improved performance; others have found mixed or nonsignificant results. The marketing orientation of small businesses has not been thoroughly investigated, however. This study of more than 200 small business CEOs examines the marketing orientation levels of small to medium-sized firms (SMEs) as well as the impact of various internal variables (sales/profit performance, company characteristics, and CEO characteristics) on marketing orientation levels. The results confirm some earlier research on marketing orientation and provide new insights into this important strategic dimension.

scholarly journals Economic and Social Impacts of COVID 19 on National Economies from the Point of View of Economic Theory

2021 ◽  
Vol 92 ◽  
pp. 01036
Author(s):  
Miloš Nový ◽  
Čestmír Jarý
Keyword(s):  
Supply And Demand ◽  
Aggregate Demand ◽  
Value Added ◽  
Social Impacts ◽  
Demand Side ◽  
Aggregate Supply ◽  
National Economies ◽  
The Impact ◽  
Economic And Social Impacts

Research background: The world economy is currently affected by the devastating effects of the global COVID 19 pandemic, reaching the Great Depression of the 1930s. The economic policies of the affected countries are currently focused on short-term measures on the aggregate demand side. To this end, the growth of the public finance deficit is being prepared in the area of fiscal policy, which will ultimately deepen the indebtedness of national economies. If this economic policy is to be sustainable in the long term, measures on the aggregate demand side must be accompanied by measures on the aggregate supply side. Purpose of the article: The purpose of this article is to determine how the current globalization processes affecting the supply and demand sides of selected national economies will be affected in the short and long term as a result of the global COVID 19 pandemic. Methods: A description of the AS - AD model will be performed, covering both short and long periods, and then a description of the impact of globalization processes on aggregate supply and aggregate demand. This will be followed by an analysis of the expected economic and social impacts of COVID 19 on individual globalization processes affecting the supply and demand sides of selected national economies and economic units. Findings & Value added: The article will help to find a systemic approach to the recovery of national economies affected by the effects of the global pandemic COVID 19 through the prism of the AS - AD model.

scholarly journals Research on the Influence of Economic Policy Uncertainty on the Supply Chain Finance

2020 ◽  
Vol 214 ◽  
pp. 03004
Author(s):  
Li Wang ◽  
Huimin Wang ◽  
Jian Wang
Keyword(s):  
Economic Policy ◽  
Supply Chain ◽  
Supply And Demand ◽  
Copper Price ◽  
Policy Uncertainty ◽  
Short Supply ◽  
Economic Policy Uncertainty ◽  
Supply Chain Finance ◽  
The Impact

Based on the background of continuous increasing external economic uncertainty, this paper builds GARCH-MIDAS model to explore the volatility of copper price caused by global economic policy uncertainty in copper supply chain finance and analyzes the changes of refined copper supply and demand caused by this volatility. It is found that the increases of economic policy uncertainty will enhance the long- term volatility of copper. Moreover, the violent fluctuation of copper price caused by the impact of powerful economic policy uncertainty will weaken the demand confidence of refined copper market and lead to the phenomenon of oversupply. On the contrary, the moderate fluctuation of copper price due to the impact of weak economic policy uncertainty will boost the demand confidence of refined copper market and lead to the phenomenon of short supply.

scholarly journals The airification of cities. Making sense of the impact of peer to peer short term letting on urban functions and economy

2019 ◽  
Author(s):  
Stefano Picascia ◽  
Antonello Romano ◽  
Michela Teobaldi
Keyword(s):  
Spatial Patterns ◽  
Supply And Demand ◽  
Sharing Economy ◽  
Peer To Peer ◽  
Economic Advantage ◽  
Short Term ◽  
Making Sense ◽  
The Impact ◽  
The Way

An in-depth look into the mechanics of short term rentals in Italy. The study is based on a vast dataset comprising of all the properties listed on the Airbnb website in 10 major cities in the years 2015, 2016 and 2017. We discuss the spatial patterns of Airbnb supply and demand within and between cities, we then hypothesize on the possible drivers of the Airbnb offer and suggest a possible way to assess whether Airbnb supply could be driven by an economic advantage of short-term over long term letting. We also discuss the way the benefits of this particular incarnation of the sharing economy are shared among participants. Finally, we conclude by presenting a possible alternative way of regulating Airbnb.

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