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