Flashcards About Hospitality marketing quiz 3 chpt 7-9

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The degree to which segments can be assessed and served is the ____________ of the market segment. * measurability * actionability * substantiality * accessibility
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Accessibility
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the final stage in the new product development process is: * commercialization * idea screening * concept testing * test marketing
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commercialization
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Loyal customers are price _____________ compared to brand-shifting patrons. * Insensitive * economic elastic * economic inelastic * sensitive
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Insensitive
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SSTs are a rapidly growing means for increasing customer coproduction in food-service experiences. SST stands for: * self-serving technique * sure shot technology * sure selling technique * Self-service technology
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Self-service technology
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About _______ percent of new product ideas come from within the company. * 10 * 28 * 55 * 70
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55
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Under positioning is defined as: * failing to correctly position the company * failing to ever position the company at all * positioning the company on a level above its par * positioning the company on a level below its par
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failing to ever position the company at all
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A nongroup form of organizational business is the: * Corporate traveler * trade show attendee * incentive market * package tour
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Corporate traveler
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In using a(n) ________ marketing strategy, a company ignores market segmentation and goes after the entire market with one market offer. * concentrated * differentiated * unconcentrated * undifferentiated
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undifferentiated
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Evaluating each segment’s attractiveness and selecting one or more of the market segments is one of the major steps in the target marketing process, which is called: * market positioning * market segmentation * market targeting * market evaluating
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market targeting
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Dividing buyers into groups based on their knowledge, attitudes, uses, or responses to a product is called: * Behavioristic segmentation * Geographic segmentation * Demographic segmentation * Psychographic segmentation
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Behavioristic segmentation
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The purpose of “idea screening” is: * To spot good ideas and drop poor ones as quickly as possible * To differentiate between ideas based on brand presence * To segregate ideas into categories based on brands * To generate a great number of ideas in a short time span
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To spot good ideas and drop poor ones as quickly as possible
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A _______ is a command performance for employees of a company. * meeting * corporate meeting * incentive travel * convention
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corporate meeting
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The total demand for many business products that is not affected much by price changes is called: * Inelastic demand * Determined demand * Derived demand * Induced demand
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Derived demand
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The stage of an industrial buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item is ___________. * product specification * product selection * product evaluation * product solicitation
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product specification
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_______ are rewards that participants receive for achieving a goal. * trade association meetings * annual conventions * Incentive meetings * corporate meetings
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Incentive meetings
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the dimension of atmosphere relating to volume and pitch is called: * vocal * visual * volume * aural
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aural
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Users, Influencers, Approvers, Buyers, and Gatekeepers are participants in the: * Organizational Buying process * Organizational convention process * Organizational decision making process * organizational chart
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Organizational Buying process
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Individuals that have the power to prevent sellers from reaching the buying center are called: * Deciders * Influencers * Gatekeepers * Approvers
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Gatekeepers
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Incentive travel, a unique subset of corporate group business, is a reward that participants receive for _________________________. * winning a lottery or sweepstakes * winning a lottery * attending a timeshare presentation * achieving or exceeding a goal
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achieving or exceeding a goal
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The LEED Green Building Rating System provides design guidelines for environmentally friendly buildings. LEED stands for: * Leadership in Energy and Environmental Design * Leadership in Evaluating Environmental Design * Learning in Evaluation environmental design * learning in energy and environmental design
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Leadership in Energy and Environmental Design
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the first step in the buygrid framework is that of: * product specification * problem recognition * supplier search * general need description
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problem recognition
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market testing is a concept that: * varies with each new product * applies to each new product equally * must be implemented uniformly to each new product * may be waived for products that are deemed cleared by the board
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varies with each new product
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The added value endowed on products and services is the: * brand name * brand mark * trademark * brand equity
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brand equity
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which of the following provides the highest opportunity for upsell? * conferences * conventions * meetings * seminars
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meetings
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Convention delegates stay an average of 3.6 days and spend an average of just over $1,500 per event. This market is ___________ price sensitive. * least * occasionally * highly * somewhat
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highly
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which of the following provides a strong to definite repeat sales opportunity? * conferences * conventions * meetings * seminars
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meetings
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In the ________ of the product life cycle, sales decrease and supplies start to exceed demand. * maturity * introduction * decline * growth
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maturity
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marketing tests give management the information it needs to make a final decision about: * launching a new product * shelving a product * allocating priority of launch to a product * allocating budget to an existing product
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launching a new product
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Removing a product after existing stock has been depleted; used when sales for an item are low and costs exceed revenues, such as when a restaurant serves a crabmeat cocktail with sales of only one or two items per week. * exit phase * maturity * run-out * phase-out
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run-out
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The services or goods that must be present for the guest to use the core product are called: * facilitating products * secondary products * supporting products * ancillary products
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facilitating products
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A product’s ________ is the way the product is defined by consumers on important attributes. * position * homogeneity * strategy * differentiation
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position
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Instead of going for a small share of a large market, the firm pursues a large share of one or a few small markets. This marketing strategy is called: * Concentric marketing * Concentrated marketing * Elective marketing * selective marketing
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Concentrated marketing
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The process of sourcing ideas by inviting broad communities of people is called: * external idea sourcing * crowdsourcing * outsourcing * none of the above
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crowdsourcing
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which of the following is not something to which brand can be positioned? * beliefs and values * product attributes * product benefits * product pricing
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product pricing
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which of the following is NOT part of the SMERF market? * Economic * Religious * Military * Social
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Economic
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The most important source of new product ideas is: * board members * customers * employees * stockholders
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customers
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Will a school system pension fund with investments across all continents be considered a SMERF group? * yes, most definitely * no * yes, but only if it is a North American enterprise * maybe
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NO
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In the ________ phase of the new product development process, prototypes appear for the first time. * concept development * idea generation * product development * test marketing
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product development
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which of the following is a psychographic segmentation variable? * social class * income * age * gender
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social class
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The additional consumer services and benefits built around the actual product are called the: * facilitating product * augmented product * supportive product * core product
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augmented product
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Dividing a market into groups based on consumers’ knowledge, attitude, use, or response to a product is called: * market segmentation * behavioral segmentation * psychographic segmentation * market bifurcation
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behavioral segmentation
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The action taken toward a product that may cause harm or customer dissatisfaction: * product introduction * market positioning * mass marketing * product segmentation
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market positioning
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the action taken toward a product that may cause harm or customer dissatisfaction. * run-out * drop * phase-out * none of the above
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Drop
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With ________, the seller identifies market segments, selects one or more, and develops products and services tailored to each selected segment. * mass marketing * target marketing * differentiation marketing * product-variety marketing
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target marketing
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which of the following is not part of the organizational buying process? * problem recognition * supplier selection * product solicitation * product specification
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product solicitation
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there are almost _______ conventions held each year in the United States. * 14,000 * 16,000 * 25,000 * 15,000
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14,000
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A detailed version of an idea stated in meaningful consumer terms is defined as: * product idea * product concept * product image * none of the above
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product concept
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Formulating competitive positioning for a product and a detailed marketing mix is called: * market targeting * market competitive advantage * market positioning
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market positioning
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The increasing fragmentation of the mass market into hundreds of smaller markets is called: * mass marketing * micromarketing * de-individualized marketing * micromarketing
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micromarketing
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“Unaware,” “Aware,” and “Informed” are three examples of which behavioristic segmentation variable? * user status * loyalty status * benefits sought * buyer readiness stage
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buyer readiness stage

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