HMGT 3300 Review

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