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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. Type of product and market -push vs. pull strategy -buyer readiness state -product life-cycle stage
Four Product Levels
Demographic Segmenation
Promotional Mix Factors
AIDA
2. Maintain completely unique identities for a company's brands -ex- Yum Brands: Taco Bell - Piza Hut - etc.
Mass Market
Individual Brands
Promotional Pricing
Requirements for effective segmentation
3. Survival -current profit maximization -market-share leadership -brand equity growth -product-quality leadership -marketing mix strategy -costs -organizational considerations
Marketing Objectives- Internal Factors
Individual Brands
Promotional Mix Factors
Market Segmentation
4. Advertising -sales promotion -personal selling -public relations -direct marketing
Positioning Strategies
Promotional Mix 5 tools
Umbrella Brands & Subbranding
Selecting market segments
5. Awareness -interest -desire -action
AIDA
Ingredient Branding
Marketing Objectives- External Factors
Promotional Pricing
6. Price-quality relationship -reference prices -rounding -length of the field
Psychological Pricing
The Communication Process
Multiple Branding
Ingredient Branding
7. 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
Demographic Segmenation
New Product Development
Four Product Levels
Promotional Mix Factors
8. Message Decisions -Execution Styles -Message (headline - humor - spokesperson - etc.)
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9. Measurable-segments can be measured -accessible-segments can be reached and served -substantial-segments are profitable to serve -actionable-effective programs can attract segments
Umbrella Brands & Subbranding
Requirements for effective segmentation
Market Targeting
Pricing Strategies
10. Pricing decisions -market & demand -consumer perceptions of price & value -analyzing the price- demand relationship -price elasticity of demand -factors affecting price sensitivity
Brand Bundling
Umbrella Brands & Subbranding
Four Product Levels
Marketing Objectives- External Factors
11. Design the message -select communication channels -select the message source -measure communication results
The Communication Process
Market Positioning
Psychographic Segmentation
Family Brands & Line Extensions
12. New-product pricing -existing-product pricing -psychlogical pricing -promotional pricing
Marketing Objectives- External Factors
Pricing Strategies
Promotional Mix Factors
USP- Unique Selling Proposition
13. Prestige pricing -market-skimming pricing (high price for new product) -market penetration pricing (low price for new prodcut)
New-Product Pricing
Market Targeting
Behavior Segmentation
Psychological Pricing
14. Idea generation - idea screening - concept development and testing - marketing strategy development - business analysis - product development - market testing - & commercialization
Cobranding
New Product Development
Requirements for effective segmentation
Promotional Pricing
15. Undifferentiated marketing- bifuricated marketing -differentiated marketing- concentrated marketing
Behavior Segmentation
Selecting market segments
Market Targeting
Psychographic Segmentation
16. Operates a hotel property under two or more brand names -same company divides 500 rooms into 300 and 200 different levels and prices
Multiple Branding
Umbrella Brands & Subbranding
Market Targeting
New-Product Pricing
17. Calls for diving the market into different geographic units - such as nations - states - regions - counties - cities - or neighborhoods
Cobranding
Pricing Strategies
Geographic Segmentation
Individual Brands
18. Set objectives based on information about the target market - positioning - and marketing mix -classification by AIMS (informative - persuasive - reminder)
Behavior Segmentation
Objective Setting
Umbrella Brands & Subbranding
Media Type's Decisions
19. Use ingredient manufactors brands on menu -ex- Jack Daniels Sauce
Promotional Mix 5 tools
Cobranding
Ingredient Branding
Existing-Product Pricing
20. Divides buyers into groups based on social class - lifestyle - and personality characteristics
Demographic Segmenation
Psychographic Segmentation
Marketing Objectives- External Factors
General Pricing Approaches
21. Introduction - growth - maturity - decline or -concept development - expansion - maturity - concept development/replacement - expansion - maturity time
Product Life Cycle
Market Positioning
New-Product Pricing
The Communication Process
22. 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
Multiple Branding
Mass Market
Target Market
The Communication Process
23. 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
New Product Development
Existing-Product Pricing
Informative - Persuasive - Reminder Message
Price
24. 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
Behavior Segmentation
Market Positioning
Target Market
Demographic Segmenation
25. 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
Media Type's Decisions
Marketing Objectives- Internal Factors
Market Positioning
Target Market
26. Temporary pricing of products below list price and sometimes below cost - value pricing - price sensitivity measurements
Multiple Branding
Promotional Pricing
Mass Market
Media Type's Decisions
27. Locate several brands in a freestanding unit -ex- PF Changs & Cheesecake
Selecting market segments
Objective Setting
AIDA
Brand Bundling
28. Brand individual menu items by restaurant -ex-McDonalds- BigMac - Sea World- Shamu
Promotional Mix Factors
Umbrella Brands & Subbranding
General Pricing Approaches
Marketing Objectives- External Factors
29. Core product-lodging -facilitating product-front office - kitchen - parking -supporting product-reservations - frequency club -augmented product-custmer participation - interactions - physical environment - accessibility
Media Type's Decisions
Requirements for effective segmentation
Four Product Levels
Geographic Segmentation
30. Put the 'family name' on different brands -ex-coke - cherry - coke
Market Targeting
Family Brands & Line Extensions
Mass Market
AIDA
31. The seller produces two or more products/services that have different features - style - quality - and size -consumers have different tastes that vary over time
Psychographic Segmentation
Pricing Strategies
The Communication Process
Product-Variety Market
32. 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
AIDA
General Pricing Approaches
Market Targeting
Four Product Levels
33. Problem awareness -information search -alternative evaluation -purchase decision -postpurchase evaluation
Psychological Pricing
Mass Market
Informative - Persuasive - Reminder Message
Requirements for effective segmentation
34. 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
Informative - Persuasive - Reminder Message
USP- Unique Selling Proposition
Market Segmentation
AIDA
35. Specific product attributes (price - product - feature) -needs products fill or benefits product offer -certain classes of users -against an existing competitors -repositioning
Positioning Strategies
Promotional Pricing
Price
Four Product Levels
36. Value -uniqueness -believable -benefits
Media Type's Decisions
USP- Unique Selling Proposition
Market Segmentation
Pricing Strategies
37. Operates two noncompetitive brand in the same premises -Dunkin Donuts & Baskin Robbins
Cobranding
Informative - Persuasive - Reminder Message
Four Product Levels
AIDA
38. Divides buyers into groups based on their knowledge - attitude - use - or response to a product
Mass Market
Existing-Product Pricing
Behavior Segmentation
Positioning Strategies
39. Cost-based pricing -value-based pricing -competition-based pricing -break-even analysis & target market profit pricing
General Pricing Approaches
Target Market
Behavior Segmentation
Promotional Mix 5 tools
40. 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
The Communication Process
Promotional Mix Factors
Product Life Cycle