B - Glossary

What is baby boomers? Baby boomers is a generational marketing term. It includes people born between the years of 1946 and 1964.

What is Best Available Rate? Best Available Rate is the lowest rate per room available to the general public on a given night.

What is a Best Rate Guarantee Program? A Best Rate Guarantee Program is a program that guarantees that the consumer will receive the best rate from the organization.

What is booking pace? Booking pace refers to the pattern and tempo (rate) of receipt and acceptance of advanced reservations.

What is brand equity? Brand equity refers to the pattern and tempo (rate) of receipt and acceptance of advanced reservations.

What is branding? Branding is the placing an identifying mark or logo on a product produced by a specific organization or associating that brand with a service performed by that organization.

What is bundling? Bundling is the practice of combining products and service to create a package. For example, a travel agent can combine an airline ticket, airport transfer and accommodation to create a package with a single set price.