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Hospitality And Tourism Marketing

Subject : hospitality
  • Answer 40 questions in 15 minutes.
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  • Match each statement with the correct term.
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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. Awareness -interest -desire -action

2. Locate several brands in a freestanding unit -ex- PF Changs & Cheesecake

3. 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

4. Price-quality relationship -reference prices -rounding -length of the field

5. New-product pricing -existing-product pricing -psychlogical pricing -promotional pricing

6. 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

7. Set objectives based on information about the target market - positioning - and marketing mix -classification by AIMS (informative - persuasive - reminder)

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

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

10. Introduction - growth - maturity - decline or -concept development - expansion - maturity - concept development/replacement - expansion - maturity time

11. Specific product attributes (price - product - feature) -needs products fill or benefits product offer -certain classes of users -against an existing competitors -repositioning

12. Maintain completely unique identities for a company's brands -ex- Yum Brands: Taco Bell - Piza Hut - etc.

13. Use ingredient manufactors brands on menu -ex- Jack Daniels Sauce

14. Value -uniqueness -believable -benefits

15. Operates a hotel property under two or more brand names -same company divides 500 rooms into 300 and 200 different levels and prices

16. Core product-lodging -facilitating product-front office - kitchen - parking -supporting product-reservations - frequency club -augmented product-custmer participation - interactions - physical environment - accessibility

17. Divides buyers into groups based on social class - lifestyle - and personality characteristics

18. Idea generation - idea screening - concept development and testing - marketing strategy development - business analysis - product development - market testing - & commercialization

19. Calls for diving the market into different geographic units - such as nations - states - regions - counties - cities - or neighborhoods

20. Message Decisions -Execution Styles -Message (headline - humor - spokesperson - etc.)

21. Cost-based pricing -value-based pricing -competition-based pricing -break-even analysis & target market profit pricing

22. 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

23. Pricing decisions -market & demand -consumer perceptions of price & value -analyzing the price- demand relationship -price elasticity of demand -factors affecting price sensitivity

24. Problem awareness -information search -alternative evaluation -purchase decision -postpurchase evaluation

25. Design the message -select communication channels -select the message source -measure communication results

26. Operates two noncompetitive brand in the same premises -Dunkin Donuts & Baskin Robbins

27. The seller produces two or more products/services that have different features - style - quality - and size -consumers have different tastes that vary over time

28. Brand individual menu items by restaurant -ex-McDonalds- BigMac - Sea World- Shamu

29. 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

30. 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

31. Advertising -sales promotion -personal selling -public relations -direct marketing

32. Temporary pricing of products below list price and sometimes below cost - value pricing - price sensitivity measurements

33. Type of product and market -push vs. pull strategy -buyer readiness state -product life-cycle stage

34. Undifferentiated marketing- bifuricated marketing -differentiated marketing- concentrated marketing

35. 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

36. Survival -current profit maximization -market-share leadership -brand equity growth -product-quality leadership -marketing mix strategy -costs -organizational considerations

37. Prestige pricing -market-skimming pricing (high price for new product) -market penetration pricing (low price for new prodcut)

38. Put the 'family name' on different brands -ex-coke - cherry - coke

39. Divides buyers into groups based on their knowledge - attitude - use - or response to a product

40. 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