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