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