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