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Test your basic knowledge |
Hospitality And Tourism Marketing
Start Test
Study First
Subject
:
hospitality
Instructions:
Answer 40 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. Is the process of evaluating each segment's attractiveness and selecting one or more of the market segments - develop measures of segment attractiveness - select target segments
Product-Variety Market
Price
Mass Market
Market Targeting
2. Measurable-segments can be measured -accessible-segments can be reached and served -substantial-segments are profitable to serve -actionable-effective programs can attract segments
Promotional Pricing
Price
Multiple Branding
Requirements for effective segmentation
3. Put the 'family name' on different brands -ex-coke - cherry - coke
Family Brands & Line Extensions
Market Targeting
Mass Market
AIDA
4. Message Decisions -Execution Styles -Message (headline - humor - spokesperson - etc.)
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5. Product bundle pricing -price-adjustment strategies (volume discounts) -non-use of yield management -last-minute pricing -discriminatory pricing (Victoria's Secret & Beverly Hills) -supply & demand driven approach
Existing-Product Pricing
Behavior Segmentation
Objective Setting
Promotional Mix Factors
6. Type of product and market -push vs. pull strategy -buyer readiness state -product life-cycle stage
Four Product Levels
Requirements for effective segmentation
Brand Bundling
Promotional Mix Factors
7. Specific product attributes (price - product - feature) -needs products fill or benefits product offer -certain classes of users -against an existing competitors -repositioning
The Communication Process
Market Positioning
Positioning Strategies
Multiple Branding
8. Cost-based pricing -value-based pricing -competition-based pricing -break-even analysis & target market profit pricing
Target Market
General Pricing Approaches
Umbrella Brands & Subbranding
Positioning Strategies
9. Introduction - growth - maturity - decline or -concept development - expansion - maturity - concept development/replacement - expansion - maturity time
General Pricing Approaches
Informative - Persuasive - Reminder Message
Demographic Segmenation
Product Life Cycle
10. Operates a hotel property under two or more brand names -same company divides 500 rooms into 300 and 200 different levels and prices
AIDA
Market Positioning
Multiple Branding
USP- Unique Selling Proposition
11. Undifferentiated marketing- bifuricated marketing -differentiated marketing- concentrated marketing
Psychographic Segmentation
Selecting market segments
Brand Bundling
Pricing Strategies
12. Survival -current profit maximization -market-share leadership -brand equity growth -product-quality leadership -marketing mix strategy -costs -organizational considerations
Informative - Persuasive - Reminder Message
Marketing Objectives- Internal Factors
Mass Market
Objective Setting
13. Consists of dividing the market into groups based on demographic variables such as age - gender - family life cycle - income - occupation - education - religion - race - and nationality
The Communication Process
Demographic Segmenation
Marketing Objectives- Internal Factors
Product Life Cycle
14. Advertising -sales promotion -personal selling -public relations -direct marketing
Promotional Mix 5 tools
Individual Brands
Umbrella Brands & Subbranding
New-Product Pricing
15. The seller mass produces - mass distributes - and mass promotes one product to all buyers -it should lead to the lowest costs and prices and create the largest potential market
Requirements for effective segmentation
Product-Variety Market
Mass Market
Four Product Levels
16. Operates two noncompetitive brand in the same premises -Dunkin Donuts & Baskin Robbins
Pricing Strategies
Cobranding
New-Product Pricing
Target Market
17. Pricing decisions -market & demand -consumer perceptions of price & value -analyzing the price- demand relationship -price elasticity of demand -factors affecting price sensitivity
Brand Bundling
New-Product Pricing
Marketing Objectives- External Factors
Multiple Branding
18. Set objectives based on information about the target market - positioning - and marketing mix -classification by AIMS (informative - persuasive - reminder)
Objective Setting
Promotional Mix 5 tools
Market Positioning
Market Segmentation
19. Calls for diving the market into different geographic units - such as nations - states - regions - counties - cities - or neighborhoods
Geographic Segmentation
Market Segmentation
Demographic Segmenation
Marketing Objectives- External Factors
20. Brand individual menu items by restaurant -ex-McDonalds- BigMac - Sea World- Shamu
Family Brands & Line Extensions
Demographic Segmenation
Mass Market
Umbrella Brands & Subbranding
21. Locate several brands in a freestanding unit -ex- PF Changs & Cheesecake
New Product Development
Market Positioning
Brand Bundling
Product Life Cycle
22. Temporary pricing of products below list price and sometimes below cost - value pricing - price sensitivity measurements
Family Brands & Line Extensions
Media Type's Decisions
Selecting market segments
Promotional Pricing
23. Use ingredient manufactors brands on menu -ex- Jack Daniels Sauce
AIDA
Existing-Product Pricing
USP- Unique Selling Proposition
Ingredient Branding
24. Awareness -interest -desire -action
AIDA
Multiple Branding
Informative - Persuasive - Reminder Message
New-Product Pricing
25. The amount of money charged for a good/service -the only marketing mix element that produces revenue -charging too much chases away potential custmers - charging too little cuts revenue
Price
Demographic Segmenation
Product Life Cycle
New Product Development
26. Value -uniqueness -believable -benefits
USP- Unique Selling Proposition
Marketing Objectives- External Factors
Promotional Pricing
Psychological Pricing
27. Idea generation - idea screening - concept development and testing - marketing strategy development - business analysis - product development - market testing - & commercialization
Demographic Segmenation
New Product Development
Market Positioning
AIDA
28. Problem awareness -information search -alternative evaluation -purchase decision -postpurchase evaluation
Informative - Persuasive - Reminder Message
Objective Setting
Individual Brands
USP- Unique Selling Proposition
29. Is the process of developing competitive positioning for the product and an appropriate marketing mix - Develop positioning for target segments - Develop a marketing mix for each segment
Objective Setting
Market Positioning
Psychological Pricing
Family Brands & Line Extensions
30. The seller identifies market segments - select on or more - and develops products and services tailored to each selected segment -markets in industrialized nations are increasingly fragmented
Target Market
The Communication Process
Behavior Segmentation
Marketing Objectives- Internal Factors
31. Maintain completely unique identities for a company's brands -ex- Yum Brands: Taco Bell - Piza Hut - etc.
Individual Brands
Mass Market
USP- Unique Selling Proposition
Market Segmentation
32. Is the process of dividing a market into distinct groups of buyers who might require separate products and/or marketing mixes - identify base for segmenting - develop segment profiles
Target Market
Market Segmentation
Price
Product-Variety Market
33. Price-quality relationship -reference prices -rounding -length of the field
Psychological Pricing
Demographic Segmenation
Selecting market segments
Geographic Segmentation
34. Design the message -select communication channels -select the message source -measure communication results
The Communication Process
Brand Bundling
Demographic Segmenation
Pricing Strategies
35. New-product pricing -existing-product pricing -psychlogical pricing -promotional pricing
Psychographic Segmentation
General Pricing Approaches
Pricing Strategies
Demographic Segmenation
36. The seller produces two or more products/services that have different features - style - quality - and size -consumers have different tastes that vary over time
Promotional Pricing
Product-Variety Market
The Communication Process
USP- Unique Selling Proposition
37. Core product-lodging -facilitating product-front office - kitchen - parking -supporting product-reservations - frequency club -augmented product-custmer participation - interactions - physical environment - accessibility
Market Targeting
USP- Unique Selling Proposition
Pricing Strategies
Four Product Levels
38. Divides buyers into groups based on social class - lifestyle - and personality characteristics
Selecting market segments
Psychographic Segmentation
The Communication Process
Psychological Pricing
39. Divides buyers into groups based on their knowledge - attitude - use - or response to a product
General Pricing Approaches
Behavior Segmentation
Market Positioning
Marketing Objectives- Internal Factors
40. Prestige pricing -market-skimming pricing (high price for new product) -market penetration pricing (low price for new prodcut)
New-Product Pricing
General Pricing Approaches
Cobranding
Market Targeting