question

Creating customer _____ and _____ are at the heart of hospitality and travel industry marketing.

answer

value, satisfaction

question

The simplest definition of marketing states: "As a manager, you want to make sure that you deliver customer satisfaction at a_____."

answer

profit

question

The _____ industry is the world's largest and most international in nature, which is why it's said that the world is only getting _____.

answer

travel, smaller

question

Customers are attracted and _____ when their needs are met.

answer

retained

question

For a successful business, hospitality managers should make customer _____ a priority over profits. Profits are best seen as the result of running a business well rather than its _____.

answer

satisfaction, purpose

question

Managers should not focus on maximizing _____ term profits, because they are short-selling both the customer and the company.

answer

short

question

Much of the behavior of employees toward their customers is the result of _____ philosophy.

answer

management

question

The _____ department is the most visible in the hotel. Most of the non-promotional areas of the marketing function take place behind closed doors.

answer

sales

question

Marketing _____ includes advertising, sales, product, price, distribution, research, information systems, and planning.

answer

mix

question

Four-P framework: decide on _____ and characteristics, set the _____, decide the _____ for distribution, and choose methods for _____.

answer

product, price, place, promotion

question

The only way selling and promoting will be effective is if we first define _____ customers and needs and then prepare an easily accessible and available value package.

answer

target

question

Marketing has assumed an increasingly important role in the _____ sector of the hospitality industry.

answer

restaurant

question

Travel agents account for ____% of all cruise line business.

answer

95

question

The hospitality industry is highly _____ and marketing professionals therefore must understand the big picture.

answer

interdependent

question

By creating value for customers, companies capture value from customers in the form of _____, _____, and long-term customer _____.

answer

sales, profit, equity

question

Human _____: state of felt deprivation (physical, social, esteem); natural part of human makeup.

answer

need

question

Human _____: form of needs shaped by culture and individual personality. It is a method of communicating needs; wants are objectives that satisfy needs.

answer

want

question

Our _____ increase with the growing number and quality of wants/objectives.

answer

expectations

question

Marketing _____: manufacturers and sellers focus only on customer wants and lose sight of underlying customer needs.

answer

Myopia

question

Wants become _____ when backed by buying power.

answer

demands

question

Market _____: a product that is the combination of tangible, services, information, or experiential components.

answer

offering

question

Customer _____: difference between the benefits the customer gains from owning/using a product and the cost (monetary/non-monetary; i.e. time) of obtaining product.

answer

value

question

Customer _____ are based on past experiences, research information, and the opinions of peers.

answer

expectations

question

Low expectations will diminish _____ (resulting in fewer sales) and high expectations have a higher chance of _____.

answer

demands, dissatisfaction

question

To combat high expectations, a company should deliver _____ than they promote.

answer

more

question

A market is a set of _____ and _____ buyers of a product.

answer

actual, potential

question

To design a marketing _____, the marketing manager answers two questions: what customers will we serve and how can we best serve them?

answer

strategy

question

A company should serve _____ customers well rather than attempt to serve all customers.

answer

fewer

question

Marketing is the art and science of finding, retaining, and _____ profitable customers.

answer

growing

question

Five alternative concepts under which organizations design and carry out marketing strategies: _____, product, _____, marketing, and _____ marketing.

answer

production, selling, societal

question

Production concept: consumers favor _____ and _____, so management will focus on prices, production, and distribution efficiency.

answer

affordability, availability

question

Product concept: holds that customers will favor products that offer the most in _____, _____, and _____ features.

answer

quality, performance, innovative

question

The production and product concepts have an _____ to _____ focus. Their primary focus is a superior product and not necessarily customer wants and/or needs.

answer

inward, outward

question

Selling concept: focuses on maximizing quantity of _____ and does not worry about customer satisfaction.

answer

sales

question

Under the _____ concept, companies go out of business because products no longer satisfy the market. These companies will often suffer from overcapacity.

answer

selling

question

_____ concept focuses on delivering customer satisfaction by determining needs and wants of target markets.

answer

Marketing

question

It is very difficult to build a relationship with price-sensitive customers; who are _____ in frequency and low in profitability.

answer

low

question

Sustainability practices are an example of _____ marketing. This type of marketing delivers satisfaction to target markets while maintaining or improving a community's well-being.

answer

societal

question

Marketing Process: a. understanding _____ and customer needs b. designing _____ driven marketing strategy c. preparing an _____ marketing plan d. building _____ customer relationships e. capturing _____ from customers

answer

marketplace, customer, integrated, profitable, value

question

Customer-value building tools: a. financial benefits b. financial and social benefits c. financial, social, and _____ benefits.

answer

structural

question

A customer is nameless and served by anyone available. Social benefits turn customers into _____ who are served on a daily basis.

answer

clients

question

A company should develop customer relations _____ and not with every customer.

answer

selectively

question

Customers with _____ frequency and _____ profitability have the most potential to become best customers.

answer

high, low

question

Customer _____ Management involves managing detailed information and customer touch points in order to maximize customer _____.

answer

Relationship, loyalty

question

_____ points are any occasion a customer encounters the brand and/or product in actual experience, personal/mass communication or casual observation.

answer

Touch

question

Benefits of CRM come from _____ marketing costs, _____ price sensitivity of loyal customers, and partnership activities of loyal customers.

answer

reduced, decreased

question

Increasing _____ makes attracting new customers five times as expensive as keeping a current customer happy.

answer

competition

question

Customer _____ is the discounted lifetime values of all the company's current and potential customers.

answer

equity

question

_____ value is the stream of profits a customer will create over the course of a business relationship. Average life is determined through surveys or guest history.

answer

Lifetime

question

The service culture focuses on _____ and _____ customers.

answer

serving, satisfying

question

Creating of a service culture has to start with top _____ and flow down.

answer

management

question

Unlike physical products, services cannot be seen, tasted, felt, heard or smelled before they are purchased. In the hospitality and travel industry, many of the products sold are _____ experiences.

answer

intangible

question

In most hospitality services, both the service _____ and the _____ must be present for the transaction to occur.

answer

provider, customer

question

Managers must manage _____ so they do not create dissatisfaction for others.

answer

customers

question

Another implication of inseparability is that customers and employees must understand the service delivery system because they are _____ the service.

answer

coproducing

question

Customer coproduction means organizations must _____, _____, and _____ customers.

answer

select, hire, train

question

The benefits of a guest becoming an "employee" because of coproduction include increased _____, _____, and reduced _____ time.

answer

value, customization, waiting

question

Services are highly _____. Their quality depends on who provides them and when they are provided.

answer

variable

question

Several causes of service variability include simultaneous production and _____, fluctuating _____, and the _____ of the service provider.

answer

consumption, demand, skill

question

_____, or lack of consistency in the product, is a major cause of customer disappointment in the hospitality industry.

answer

Variability

question

Three steps hospitality firms can take to reduce variability and create consistency: a. Invest in good _____ and _____ procedures. b. _____ the service performance process throughout the organization. c. Monitor customer _____.

answer

hiring, training, Standardize, satisfaction

question

Revenue lost from not selling hotel rooms or filling a restaurant seats is gone forever. Therefore, it can be said that services are _____.

answer

perishable

question

The service-profit chain connects service firm profits with employee and customer satisfaction. It consists of five links: a. Healthy service _____ and _____ b. Satisfied and loyal _____ c. Greater service _____ d. Satisfied and productive service _____ e. Internal service _____

answer

profits, growth, customers, value, employees, quality

question

_____ marketing means that the service firm must effectively train and motivate its customer-contact employees and all the supporting service people to work as a team to provide customer satisfaction.

answer

Internal

question

_____ marketing means that perceived service quality depends heavily on the quality of the buyer-seller interaction during the service encounter.

answer

Interactive

question

Service companies face the task of increasing three major marketing areas: their competitive _____, _____ quality, and _____.

answer

differentiation, service, productivity

question

Service companies can differentiate their service deliver in three ways: through _____, physical _____ , and _____.

answer

people, environment, process

question

Customer _____ is perhaps the best measure of quality, as it is dependent on how consistently a service firm delivers value.

answer

retention

question

Good service _____ can win more customer purchasing and loyalty than if things had gone well in their first place.

answer

recovery

question

Customer _____ are one of the most available yet underutilized sources of customer and market information.

answer

complaints

question

Service markets should take steps to provide their prospective customers with evidence that will help tangibilize the service. Promotional _____, employees' _____, and the service firms' physical _____ all help tangibilize service.

answer

material, appearance, environment

question

A service organization should review every piece of tangible evidence to make sure that each delivers the desired organization _____-- the way a person or group views on organization -- to target customers.

answer

image

question

In a well-run hospitality organization, there are two customers: _____ customers and _____.

answer

paying, employees

question

Customers who buy hospitality products experience some anxiety because they cannot experience the product beforehand. One way of combating concern is to offer _____ trips, which allow meeting planners and travel agents to experience the service in a low-risk situation.

answer

familiarization

question

Managers can use the following techniques to manage capacity: a. Involve the _____ in the service delivery system b. _____-train employees c. Use _____-time employees d. _____ or _____ extra facilities and equipment e. Schedule downtime during periods of _____ demand f. Change the _____-delivery system

answer

customer, Cross, part, Rent,share, low, service

question

Managers can use the following techniques to manage demand: a. Use _____ to create or reduce demand. b. Use _____ -- allow guests to request a specific time or room type c. _____ --take more requests than you have space available d. Revenue _____ -- establish different rate "fences" e. Use _____ -- customers are helped on a first-come, first- served basis f. Shift _____ e. Create _____ events -- "By one, get one free" or "Children eat free" are examples

answer

price, reservations, Overbook, management, queuing, demand, promotional

question

The major challenge facing today's hospitality companies is knowing how to build and maintain healthy business in the face of a rapidly changing _____ and _____.

answer

marketplace, environment

question

Today business increasingly recognize that they must nurture other stakeholders, including _____, _____, _____, and the _____ where their businesses are located.

answer

customers, employees, suppliers, communities

question

There is always _____ loop between satisfied customers and satisfied employees.

answer

synergetic

question

They [Companies] are now building _____ teams that manage core business processes.

answer

cross-functional

question

The result was a radically different approach to hotel accounting called _____ segment accounting. This new approach incorporated marketing and strategic planning into accounting rather than viewing them as separate stand-alone areas and philosophies

answer

market

question

To carry out resources, a company needs such resources as _____, _____, _____, and _____.

answer

personnel, materials, machines, information

question

More companies today have decided to _____ less critical sources.

answer

outsource

question

The organization side of a company consists of its _____, _____, and _____, all of which tend to become dysfunctional in a rapidly changing company.

answer

structure, policies, culture

question

Although structure and policies can be changed, the _____ is the hardest to change.

answer

company

question

At the corporate level, the company starts the strategic planning process by defining its overall _____ and _____.

answer

purpose, mission

question

This is the focus of _____ planning, the process of developing and maintaining a strategic fit between the organization's goals and capabilities and its changing marketing opportunities.

answer

strategic

question

The hospitality industry faces the need for great _____ of employees, particularly at middle-management levels.

answer

empowerment

question

The hospitality and tourism industries are international and multicultural. _____ and _____ sometimes create sharp differences in management style and in the perceived importance of strategic planning, empowerment, and other concepts discussed in this chapter.

answer

Attitudes, culture

question

A _____ statement is a statement of the organization's purpose -- what it wants to accomplish in the larger environment.

answer

mission

question

Missions are best when they are guided by a _____, an almost impossible dream.

answer

vision

question

The corporate mission statement should stress major _____ that the company wants to honor.

answer

policies

question

Each _____ should have objectives and be responsible for teaching them.

answer

manager

question

Companies in the "hotel business" or the "cruise line business." However, market definitions of a business are _____ to product definitions.

answer

superior definition

question

Marketing must _____, _____, and _____ opportunities and lay down strategies for capturing them.

answer

identify, evaluate, select

question

First, the company could seek new products that have _____ or _____ synergies with existing product lines, even though the products may appeal to a new class of customers (concentric diversification strategy).

answer

technological, marketing

question

Diversification opportunities sometimes arise as a result of new _____.

answer

technology

question

Companies that diversify too broadly into unfamiliar products or industries can lose their market _____.

answer

focus

question

Opportunities in diversification, market development, and product development can be seized through _____ backward, forward, or horizontally within that business's industry.

answer

integrating

question

A hotel company could select _____ integration by acquiring one of its suppliers, such as a food distributor, or it could acquire tour wholesalers or travel agents (_____ integration).

answer

backward, forward

question

Finally, the hotel company might acquire one or more competitors, provided that the government does not bar the move (_____ integration).

answer

horizontal

question

Integrative growth offers opportunities in related businesses, but a company must have or acquire the _____ to succeed in the new business.

answer

expertise

question

The goal is to create _____ for customers and build profitable customer relationships.

answer

value

question

Guided by marketing strategy, the company designs an integrated marketing mix made up of factors under its control—_____, _____, _____, and _____ (the four Ps).

answer

product, price, place, promotion

question

They must win customers from competitors and then keep and grow them by delivering greater value. But before it can satisfy consumers, a company must first understand their _____ and _____.

answer

needs, wants

question

The process of dividing a market into distinct groups of _____ who have different needs, characteristics, or behavior who might require separate products or marketing programs is called market _____.

answer

buyers, segmentation

question

Market _____ involves evaluating each market segment's attractiveness and selecting one or more segments to enter.

answer

targeting

question

A product's _____ is the place the product occupies, relative to competitors' products, in consumers' minds.

answer

position

question

Thus effective positioning begins with differentiation, actually differentiating the company's market _____ so that it gives consumers more value.

answer

offering

question

_____ means the goods-and-services combination the company offers to the target market.

answer

Product

question

_____ is the amount of money customers must pay to obtain the product.

answer

Price

question

_____ includes company activities that make the product available to target customers.

answer

Place

question

_____ means activities that communicate the merits of the product and persuade target customers to buy it.

answer

Promotion

question

It holds that the four Ps concept takes the _____ view of the market, not the _____.

answer

seller's buyer's

question

We define a marketing _____ as follows: an area of need that a company can perform profitably.

answer

opportunity

question

We define an environmental _____ as follows: A challenge posed by unfavorable trends or developments that would lead, in the absence of defensive marketing action, to sales or profit deterioration.

answer

threat

question

The business unit should strive to arrange its objectives from _____ to _____ important.

answer

most, least

question

Goals indicate what a business unit wants to achieve; _____ answers how to get there.

answer

strategy

question

The _____-environment consists of factors close to the company that affect its ability to serve its customers, the company itself, marketing channel firms, customer markets, and a broad range of publics.

answer

micro

question

Marketers must do more than adapt to the needs of _____ customers. They must also adapt to the strategies of other companies serving the same target markets.

answer

target

question

Companies can gain strategic advantage by strongly ______ their product in the minds of consumers.

answer

positioning

question

Each firm must consider its size and industry position in relation to that of its competitors in order to implement a competitive marketing _____.

answer

strategy

question

Large firms with _____ positions in an industry can use strategies that smaller companies cannot afford.

answer

dominant

question

Small and individually owned companies do not have to worry about _____ their products. This allows them to _____ quickly to local trends and offer more variety.

answer

standardizing, adapt

question

In general a company has three variables to monitor when analyzing each of its competitors: share of _____, share of _____, and share of _____.

answer

market, mind, heart

question

In addition to having behavioral loyalty, a "truly loyal" customer exhibits ______ loyalty and is more likely to make favorable recommendations.

answer

attitudinal

question

"_____ loyal" customers are frequent visitors but are not emotionally attached.

answer

Spurious

question

The four levels of competition: _____, _____, Product _____, and Product _____.

answer

Budget, General, Category, Form

question

Suppliers are firms and individuals that provide the _____ needed by the company to _____ its goods and services

answer

resources, produce

question

When outsourcing food and beverage operations, a partnering deal creates more commitment on the chef's part because they share directly in the profits of the company.

answer

...

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