HFT 2500

One of the outcomes of currency devaluations in a destination country such as Argentina is that the country ____________ as a destination of conventions and meetings.
Starts Gaining
The most dramatic force shaping our destiny is:
Technological
“Project RED” was the name given to the long-term strategy of which restaurant chain?
Red Robin
Which of the following is NOT a general trend in the United States?
College graduation rates staying roughly the same
Companies that diversify too broadly into unfamiliar products or industries can ______ their market focus.
Lose
The Forum Company found that the cost of retaining a loyal customer is just ____ percent of the cost of attracting a new one
20
So long as a company sets high standards for service quality, it is not necessary to evaluate its actual performance.
False
At the Ritz-Carlton, each employee can spend up to _________ to redress a guest grievance
$2,000
Hotel developers generally have lower barriers to entry than restaurant developers
False
There is no current evidence to suggest that long-term customers are more profitable than new customers
False
Critics of strategic alliances point out the high failure rate of such alliances, which is probably unfair, since short-term objectives may have been met.
True
According to the Ansoff product-market expansion grid, management should first consider whether:
It should gain more market share with its current products in their current market
The number of women in the American workforce is approaching 30 percent
False
To reduce uncertainty caused by service intangibility, buyers look for whatever tangible evidence they can find that will provide information about the service
True
During recessions or oil shortages, people rarely travel
False
The hotel industry characteristically has a _______________ barrier to exit.
High
Overbooking is another method that hotels, restaurants, trains, and airlines use to match:
Demand with capacity
Perhaps the best measure of service quality is:
Customer retention
A product can be:
tangible or intangible
A system of values and beliefs in an organization that reinforces the idea that providing the customer with quality service is the principal concern of the business is called __________________.
Service culture
Which of the following is one of the four Ps of the marketing mix?
Place
Good marketers have two methods-marketing intelligence and marketing research-for collecting information about the environment
True
Defining people by their birthrate may be less valuable to marketers than defining them by their life stage or lifestyle.
True
Relationship marketing is a process where marketers work at building relationships with customers, distributors, dealers, and:
Suppliers
Which of the following is not an example of a marketing intermediary?
Next-day delivery providers
_____________ may also have a strong influence on family buying decisions.
Children
Formulating competitive positioning for a product and a detailed marketing mix is called:
Market positioning
The type of research used to gather preliminary information to help generate a research hypothesis is called:
Exploratory research
Status is the general esteem given to someone fulfilling his/her role in society.
True
Deciders are the individuals that will actually use the product being purchased.
False
Which of the following is not a part of the psychographic variable?
Loyalty
________________________ are the most affluent U.S. demographic segment.
Asian American
The three stages of target marketing are market segmentation, market targeting, and:
Market positioning
Among the four contact methods-mail, telephone, personal, and online-which is the poorest in terms of costs?
Personal
Which of the following is NOT a part of the SMERF market?
Economic
In an Organizational Buying process, ____________ select product requirements and suppliers.
Deciders
Which American social class comprises the largest part of the population?
Working (38%)
Mail questionnaires are very expensive per respondent compared to other survey methods.
False
People from which country are likely to expect promptness and prefer quick, unfriendly service over having a conversation with the service provider?
Japan
Organizational demand that ultimately comes from the demand for consumer goods is called:
Derived demand
Most human behavior is learned
True
A segment may have desirable size and growth and still not offer attractive profits.
True
________ is the most widely used method of primary data collection.
Survey research
Individuals that have the power to prevent sellers from reaching the buying center are called:
Gatekeepers
Which of the following provides the highest opportunity for upsell?
Meetings
SRI’s VALS framework is one of many different psychographic segmentation systems available today.
False
Incentive travel, a unique subset of corporate group business, is a reward that participants receive for _________________________.
Achieving or exceeding a goal
Actionability is the degree to which the segment’s size and purchasing power can be measured.
False
Will a school system pension fund with investments across all continents be considered a SMERF group?
No
A marketing research project where the objective is to describe the size and composition of the market is called:
Descriptive research
Marketing tests give management the information it needs to make a final decision about:
Launching a new product
Making direct connections with carefully targeted individual consumers to both obtain an immediate response and cultivate lasting customer relationships is known as:
Direct marketing
The sequence of integrated direct marketing technique is:
Paid ad with a response channel > Direct mail mechanism > Outbound telemarketing > Face-to-face sales calls
The services or goods that must be present for the guest to use the core product are called:
Facilitating products
In the joining stage of the customer delivery system:
The customer makes the initial inquiry contact
The most important source of new product ideas is:
Customers
Advertising costs are continuing to rise, and audience reach is continuing to fall.
True
Corporate communications is a branch of public relations that is limited to business-to-business publicity.
False
Advising management about public issues and company positions and image is called:
Counseling
The most basic type of website is the:
Corporate website
The process of sourcing ideas by inviting broad communities of people is called:
Crowdsourcing
Only in a few cases have sales promotions given consumers the impression that profit margins were unreasonably high to start with.
False
Samples do not have to be free
True
In one study, researchers found that about 50 percent of restaurant customers were willing to pay a little more for brand-name products.
True
All of the following are objectives of the sales promotion process except:
Reducing bad publicity
The dimension of atmosphere relating to volume and pitch is called:
Aural
Casino operator Harrah’s Entertainment has built a customer database containing _________________ of customer information.
30 terabytes
The purpose of “idea screening” is:
To spot good ideas and drop poor ones as quickly as possible
Isolation and/or obscurity of a hotel can actually have PR potential.
True
Cause-related marketing is directly used to create:
Goodwill
Market testing is a concept that:
Varies with each new product
Frequent guest points that hotel guests build up for repeat stays are an example of:
Patronage rewards
In the past it was common for the marketing function and PR function to be handled by different departments in a firm
True
________ crises give a warning before they occur.
Smoldering
The most powerful approach to integrated direct marketing is:
Multiple-vehicle, multiple-stage