Hospitality marketing quiz 3 chpt 7-9

The degree to which segments can be assessed and served is the ____________ of the market segment.
* measurability
* actionability
* substantiality
* accessibility
Accessibility
the final stage in the new product development process is:
* commercialization
* idea screening
* concept testing
* test marketing
commercialization
Loyal customers are price _____________ compared to brand-shifting patrons.
* Insensitive
* economic elastic
* economic inelastic
* sensitive
Insensitive
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
Self-service technology
About _______ percent of new product ideas come from within the company.
* 10
* 28
* 55
* 70
55
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
failing to ever position the company at all
A nongroup form of organizational business is the:
* Corporate traveler
* trade show attendee
* incentive market
* package tour
Corporate traveler
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
undifferentiated
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
market targeting
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
Behavioristic segmentation
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
To spot good ideas and drop poor ones as quickly as possible
A _______ is a command performance for employees of a company.
* meeting
* corporate meeting
* incentive travel
* convention
corporate meeting
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
Derived demand
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
product specification
_______ are rewards that participants receive for achieving a goal.
* trade association meetings
* annual conventions
* Incentive meetings
* corporate meetings
Incentive meetings
the dimension of atmosphere relating to volume and pitch is called:
* vocal
* visual
* volume
* aural
aural
Users, Influencers, Approvers, Buyers, and Gatekeepers are participants in the:
* Organizational Buying process
* Organizational convention process
* Organizational decision making process
* organizational chart
Organizational Buying process
Individuals that have the power to prevent sellers from reaching the buying center are called:
* Deciders
* Influencers
* Gatekeepers
* Approvers
Gatekeepers
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
achieving or exceeding a goal
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
Leadership in Energy and Environmental Design
the first step in the buygrid framework is that of:
* product specification
* problem recognition
* supplier search
* general need description
problem recognition
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
varies with each new product
The added value endowed on products and services is the:
* brand name
* brand mark
* trademark
* brand equity
brand equity
which of the following provides the highest opportunity for upsell?
* conferences
* conventions
* meetings
* seminars
meetings
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
highly
which of the following provides a strong to definite repeat sales opportunity?
* conferences
* conventions
* meetings
* seminars
meetings
In the ________ of the product life cycle, sales decrease and supplies start to exceed demand.
* maturity
* introduction
* decline
* growth
maturity
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
launching a new product
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
run-out
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
facilitating products
A product’s ________ is the way the product is defined by consumers on important attributes.
* position
* homogeneity
* strategy
* differentiation
position
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
Concentrated marketing
The process of sourcing ideas by inviting broad communities of people is called:
* external idea sourcing
* crowdsourcing
* outsourcing
* none of the above
crowdsourcing
which of the following is not something to which brand can be positioned?
* beliefs and values
* product attributes
* product benefits
* product pricing
product pricing
which of the following is NOT part of the SMERF market?
* Economic
* Religious
* Military
* Social
Economic
The most important source of new product ideas is:
* board members
* customers
* employees
* stockholders
customers
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
NO
In the ________ phase of the new product development process, prototypes appear for the first time.
* concept development
* idea generation
* product development
* test marketing
product development
which of the following is a psychographic segmentation variable?
* social class
* income
* age
* gender
social class
The additional consumer services and benefits built around the actual product are called the:
* facilitating product
* augmented product
* supportive product
* core product
augmented product
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
behavioral segmentation
The action taken toward a product that may cause harm or customer dissatisfaction:
* product introduction
* market positioning
* mass marketing
* product segmentation
market positioning
the action taken toward a product that may cause harm or customer dissatisfaction.
* run-out
* drop
* phase-out
* none of the above
Drop
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
target marketing
which of the following is not part of the organizational buying process?
* problem recognition
* supplier selection
* product solicitation
* product specification
product solicitation
there are almost _______ conventions held each year in the United States.
* 14,000
* 16,000
* 25,000
* 15,000
14,000
A detailed version of an idea stated in meaningful consumer terms is defined as:
* product idea
* product concept
* product image
* none of the above
product concept
Formulating competitive positioning for a product and a detailed marketing mix is called:
* market targeting
* market competitive advantage
* market positioning
market positioning
The increasing fragmentation of the mass market into hundreds of smaller markets is called:
* mass marketing
* micromarketing
* de-individualized marketing
* micromarketing
micromarketing
“Unaware,” “Aware,” and “Informed” are three examples of which behavioristic segmentation variable?
* user status
* loyalty status
* benefits sought
* buyer readiness stage
buyer readiness stage