HMGT 3300 Review – Flashcards
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The added value endowed on products and services is the:
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Brand equity
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In the ________ phase of the new product development process, prototypes appear for the first time.
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Product development
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In the ________ of the product life cycle, sales decrease and supplies start to exceed demand.
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maturity
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The most important source of new product ideas is:
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customers
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A moment of truth occurs when employees and ________ have contact.
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customer
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An internal marketing program requires a strong commitment from ________.
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management
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In a service-oriented organizational culture ________ are at the top of the organization.
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customers
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________ is when a firm moves the authority and responsibility to make decisions to the line employees from the supervisor.
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empowerment
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Marketing by a service firm to effectively train and motivate its customer-contact employees and all the supporting service people to work as a team to provide customer satisfaction is called:
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interactive marketing
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Training employees to do two or more jobs within the organization is called:
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cross-training
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A server in a restaurant who convinces a patron to buy a t-shirt at the front counter is:
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Cross-selling
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For which goods could the demand slope curve upward?
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Prestige goods
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In the short run, the most important pricing strategy is:
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survival
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The basic break-even price is:
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Fixed costs divided by contribution
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Costs that do not vary with production levels are called:
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Fixed costs
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During periods of weak demand very few competitors escape the effect of a ________ market.
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weak
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A restaurateur buying produce from a grower at a farmers' market is an example of:
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A direct-marketing channel
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____are computerized reservation systems that serve as a product catalog for travel agents and other distributors of hospitality products.
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Global distribution systems
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The chances of succeeding are the highest if you:
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Buy a franchise
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In a supply chain, "downstream" from the company is a set of firms that:
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Provide a connection between the firm and its customers
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In channel conflicts, conflicts between different levels of the same channel are termed:
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Vertical conflict
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In the buyer readiness process, the state that immediately precedes purchase is:
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conviction
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The most logical method of setting the promotion budget is the:
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Objective and task
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The ________ method of promotion budgeting views sales as the cause of promotion rather than as the result.
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Percentage of sales
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advertising is used when introducing a new product.
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informative
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Viral marketing messages have a higher chance of being opened because they come from a _____________.
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friend
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The process by which the receiver assigns meaning to the symbols encoded by the sender is called:
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decoding
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advertising is used for mature products.
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Reminder
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covers internal and external communications and promotes understanding of the organization.
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Corporate communication
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Cause-related marketing is directly used to create:
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goodwill
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crises give a warning before they occur.
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smoldering
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PR stands for:
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Public relations
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Lobbying involves dealing with legislators and government officials to _____________ legislation and regulation.
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Promote or defeat
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In preparing for crisis communication, it is important to train employees regularly and document such training for:
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Crisis management
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The first step in the personal selling process is:
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prospecting
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Sales representatives deciding how to allocate their scarce time among prospects and customers is known as:
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targeting
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responsibility increases the sales representative's incentive to cultivate local business and personal ties.
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territorial
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department should be trained to make inquiries of guests representing companies to find out if more business exists from those companies.
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reservations
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A basic model of motivating sales representatives is:
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Motivation, effort, performance, rewards, and satisfaction
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Making direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships is known as:
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Direct marketing
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A central repository of an organization's customer information is known as:
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Data warehouse
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The most basic type of website is the:
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Corporate (or brand) web site
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Which of the following is a reason that direct marketing has grown?
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Precision targeting
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The most powerful approach to integrated direct marketing is:
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Ethical appeal
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In periods of low demand, companies can use direct marketing to target _________ customers and produce quick results.
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known
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Do-not-call legislation has ________ the telemarketing industry.
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hurt
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