1.False 2.limited advertising expenditures are req
Introduction to Hospitality Management _Discussion 2
Q Let's discuss the various competitive forces in the hospitality industry, especially in the lodging industry. Let's begin with the fragmented markets. How is the lodging industry perceived to be a fragmented market?
The fragmented market can be referred to as a marketplace in which no one company is there which can put enough influence so that industry shifts in a specific direction. The market includes several companies medium-sized, small which compete with big enterprises and one another. The structure of market of the industry of lodging is monopolistic competition. Several firms are there that sell products that are differentiated. Some barriers entries are there.
