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