HFT 2500 EXAM 2

CHAPTER 5
CHAPTER 5
The goal of ______ research is to gather preliminary information.
exploratory
descriptive
casual
The goal of ______ research is to describe the size and competition of the market.
descriptive
Secondary data
-Secondary data can be obtained from either internal or external sources.

-secondary data can be obtained more quickly than primary data.

Which of the following is not a basic research approach?
-observational research
-survey research
-experimental research
________ can be used to collect large amounts of information at a low cost per respondent.
Mail questionnaires
Which of the following statements is true?
If well chosen, samples of less than 1% of a population can give good reliability
Internal records
-guest comments cards
-hotel daily reports, including occupancy, number of guests, etc.
-disguised shoppers
——————–
-Guest comment cards
-Listening to and speaking with guests
-Mystery shoppers
-Company records
-Point-of-sale information
-Corporate customer and marketing intermediary information
All of the following are EXTERNAL MARKETING INFORMATION, except:
point-of-sale information

the following are external marketing information:

-macromarket information
-competitive information
-new innovation and trends

The MARKETING RESEARCH PROCESS consists of the following steps, except:
SWOT analysis

research process:
-defining the problem and research objectives
-developing and implementing the research plan
-interpreting and presenting the findings

________ has an excellent rate of speed of data collection.
telephone interviewing
A marketing research project which has an objective of gathering preliminary information to define the problem is known generally as
exploratory research
Which of the following surgery methods has a poor response rate?
mail
Employees are one of the internal sources of marketing intelligence.
T
Marketing intelligence includes everyday information about developments in the marketing environment.
T
In terms of marketing research, defining the problem and research objectives are often the most important steps in the research process.
T
MIS stands for Marketing Information System
T
Casual research gathers preliminary ifnormation that will help define the problem and suggest research hypotheses.
F
Unstructured surveys are often guided according to the answers provided by the respondent.
T
Secondary data is simply the highest priority information used by the company to make decisions.
F
Personal interviewing takes two forms: intercept and group interviewing
T
Marketing researchers usually draw conclusions about large consumer groups by taking a sample.
T
Focus group interviewing is usually conducted by inviting 16 to 20 people
F
Mystery shopping is a guest information management tool
T
Examining guest booking patterns is a type of guest trend information often used by hospitality organizations for assisting with planning and assessing revenue/yield management
T
Market Research
To create value for customers and build relationships with them, marketers must gain insight into what customers need & want
Guest information is considered a primary or secondary source of information?
secondary
Marketing Intelligence – Secondary
Internal marketing intelligence
-Company Executives, Owners and Managers, Contact Personnel, etc.

External marketing intelligence
-Macro-market info, Trends, Innovations, etc.

Competitive information
-Annual reports, trade pubs, press releases, competitive promotions, Internet, online databases, etc.

Guest information is vital to..
-improving service
-creating effective promotion programs
-developing new products
-improving existing products
-developing M&S plans
-Development of an effective revenue management program
CHAPTER 6
CHAPTER 6
Consumer buying behavior refers to the buying behavior of ________ customers.
final
Marketers must understand how the stimuli are changed into what?
responses inside the consumer’s black box.
A buyer’s decision process affects __________.
outcomes
_________ is the most basic determinant of a person’s wants and behavior
culture
________ refer to the groups to which people do not belong but would like to.
Aspirational groups
The buying process starts from ________.
need recognition
The set of beliefs held about a particular brand is known as the _________.
brand image
Prizm is a _______ system that allows researchers to know the mix or density of lifestyle groups in each of the nation’s 36,000 zip code areas
geodemographic
______ refers to distinguishing psychological characteristics that lead to relatively consistent and enduring responses to the environment.
personality
__________ is the process by which an individual selects, organizes, and interprets information to create a meaningful picture of the world.
perception
_________ is the tendency to twist information into personal meanings and interpret information in a way that will fit our preconceptions.
selective distortion
Cognitive dissonance is caused by ______ conflict.
post-purchase
VALS
values and lifestyles program
One of the eight American lifestyles is
believers
Consumer purchases are strongly influenced by cultural, social, personal, and psychological characteristics
T
Social classes have no impact on product and brand preferences.
F
Family life-cycle stages have no impact on consumers’ buying behaviors.
F
A lifestyle is a person’s pattern of living as expressed in his or her activities, interests, and opinions.
T
The VALS framework is a demographic segmentation system.
F
A person’s behavior tends to be consistent with his or her self-concept.
T
Maslow’s “Hierarchy of Needs,” in order of importance, are safety needs, esteem needs, and social needs.
F
Because of consumers’ selective attention, marketers have to work hard to attract consumers’ notice.
T
Learning describes changes in an individual’s behavior arising from experience.
T
An attitude is a descriptive thought that a person holds about something.
F
Buying behavior is not shaped by stages in the family life-cycle.
F
A set of beliefs about a particular brand is known as brand image.
T
Selective Attention
we screen out stimuli because we are overloaded and cannot process it all
Selective Distortion
tendency to twist information into personal meanings and interpret it to fit our preconceptions
Selective Retention
we forget much of what we learn but tend to remember info that supports our attitudes and beliefs
Building strong relationships
Consumer gets to know the brand:
-marketing messages
-experiences

Brand gets to know the consumer:
-research
-feedback

Consumer behavior
how we make sense of the world
-perception (senses and non verbal)
-association (group, patterns, rituals)

values, beliefs and environment

needs

5 premises of consumer behavior
-Consumer behavior is purposeful and goal oriented
-The consumer has free choice
-Consumer behavior is a process
-Consumer behavior can be influenced
-There is a need for consumer education
Factors influencing consumer behavior
cultural -> social -> personal -> psychological -> buyer
Social factors
Primary – regular but informal interaction
family, friends, neighbors, coworkers, etc.

Secondary – more formal with less regular interaction
Religious groups, professional organizations, trade unions, etc

Social Factors STATS
Women influence up to 80% of car-buying decisions

Men account for 40% of food shopping dollars

US food industry spends $14 billion advertising to children

Personal Factors
Lifestyle is a person’s pattern of living as expressed in activities, interests and opinions
Psychological Factors
Buying choices are also influenced by four major psychological factors…
-Motivation
-perception
-learning
-beliefs & attitudes
Maslow’s Hierarchy of Needs
Self actualization
esteem needs (self-esteem)
social needs (sense of belonging, love)
safety needs
physiological needs (hunger, thirst)
Buyer decision process
need recognition -> information search -> evaluation of alternatives -> purchase decision -> post-purchase behavior
Buyers remorse
Cognitive dissonance is buyer discomfort caused by post purchase conflict
CHAPTER 8
CHAPTER 8
The philosophy of ______ is to identify market segments, select one or more, and develop products and marketing mixes tailored to each selected segment.
target marketing
_____ is to evaluate each segment’s attractiveness and select one or more of the market segments.
market targeting
_______ divides buyers into different groups based on social class, lifestyle, and personality characteristics.
psychographic segmentation
Many marketers believe that ______ are the best starting point for building market segments.
behavior variables
The _______ rule states that in many businesses, a high percent of the business is generated by a low percent of the clientele.
80/20
_________ examines the degree to which segments are large or profitable enough to serve as markets.
Substantiality
A firm using a ________ strategy targets several market segments and designs separate offers for each segment.
differentiated marketing
When choosing a market-coverage strategy, companies need to consider all of the following factors, except:
all of the above
_________ gives buyers a too narrow picture of the company.
overpositioning
A difference is worth establishing to the extent that it satisfies the following criteria:
all of the above
McDonald’s offering regular hamburgers, Big Macs, and Quarter Pounders is an example of what type of marketing?
product-variety marketing
Sandals (www.sandals.com), an all-inclusive powerhouse in the Caribbean, is a leading resort operator for “mixed-gender couples only.” Sandals is an example of:
product-variety marketing
Market targeting involves evaluating each market segment’s attractiveness and selecting one or more of the market segments to enter.
T
Psychographic segmentation often divides the market on the basis of variables such as age, gender, income, and occupation.
F
Segmentation based upon buyer knowledge, attitudes, use, or response to the product are forms of behavioral segmentation.
T
Market segmentation by whether a customer is informed or is interested in a product is an example of segmentation by buyer-readiness stage.
T
Age, gender, family life cycle, income, occupation, education, religion, race, and nationality are geographic segmentation variables.
F
Strong buyers and suppliers make a segment more attractive.
F
Differentiated marketing is a market-coverage strategy in which a firm goes after a large share of one or a few submarkets.
F
Deciding to ignore market segment differences and go after the whole market with one offer is considered a differentiated marketing strategy.
F
A product’s position is the way the product is defined by the company relative to its competition on relevant attributes.
F
Market positioning involves dividing the market into a distinct group of buyers based upon their different needs.
F
Measurability is not a requirement for effective segmentation.
F
Undifferentiated, differentiated, and concentrated marketing are three types of market-coverage strategy.
T
Market-coverage strategies
Undifferentiated – “one size fits all”
Differentiated – offers vary based upon segment
Concentrated – niche focus, larger share of smaller segment
Developing a positioning strategy
Identify a set of possible competitive advantages

Select the right competitive advantages

Effectively communicate your chosen position to a carefully selected target market

Brand differences should meet the following criteria prior to marketing:
Important
Distinctive
Superior
Communicable
Affordable
Profitable
Product Differentiation
Physical Attribute Differentiation

Service Differentiation

Personnel Differentiation

Location Differentiation

Image Differentiation