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