Hospitality marketing test 2
environmental management perspective
A management perspective in which a firm takes aggressive actions to affect the publics and forces in its marketing environment rather than simply watching and reacting to it.
lifestyle
A person's pattern of living as expressed in his or her activities, interests, and opinions
reference groups
Groups that have a direct (face-to-face) or indirect influence on a person's attitude or behavior
Geographic Shifts in Population
Growth in U.S. West and South and decline in Midwest and Northeast Change in where people work -Telecommuting -Home office
mystery shoppers
Hospitality companies often hire disguised or mystery shoppers to pose as customers and report back on their experience
Consists of evaluating each market segment's attractiveness and selecting one or more market segments to enter.
Market Targeting
buzz marketing
cultivating opinion leaders and getting them to spread information about a product or a service to others in their communities
the interrelated departments within a company that influence marketing decisions form the ________ environment
cultural???
economic environment
economic environment consist of factors that effect consumer purchasing power and spending patterns. markets require both power and people
disintermediation
elimination of intermediaries - hotels have created their own reservation systems
Rather than assuming that strategic options are bounded by the current environment, firms adopting a _________ to the marketing environment develop strategies to change the environment
environmental stance
diversity also includes:
ethnicity, gay/lesbian, disabled
Sam, a restaurant manager, has been directed to study thee demographic, economic, political, and cultural forces that affect an organization. In this instance, Sam has been directed to study the _______ of the organization.
macroenvironment
Political Environment
laws, government agencies, and pressure groups that influence and limit various organizations and individuals in a given society
confused positioning
leaving buyers with a confused image of a company
demographic segmentation
dividing the market into segments based on variables such as age, life-cycle stage, gender, income, occupation, education, religion, ethnicity, and nationality
the _________ environment consists of laws, government agencies, and pressure groups that influence or limit various organizations and individuals in a given society.
political
Consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in the minds of target consumers.
positioning
Over the past two decades, the US population has shifted toward the _____ states
sunbelt
Jonathan works for a firm that assists companies in promoting, distributing, and selling their products to end consumers. The firm Jonathan works for is a ________.
supplier
marketing service agencies
suppliers that help the firm formulate and implement its marketing strategy and tactics - PR agencies, advertising and direct mail houses
local marketing
tailoring brands and marketing to the needs and wants of local customer segments - cities, neighborhoods, and even specific stores
micromarketing
tailoring products and marketing programs to the needs and wants of specific individuals and local customer segments; it includes local marketing and individual marketing
the economic environment consists of economic factors that affect ____________.
Consumer purchasing power
trends in the natural environment
- Growing shortages of raw materials - Increased pollution - Increased government intervention - Developing strategies that support environmental sustainability
Subculture
A group of people with shared value systems based on common life experiences and situations
demography
is the study of human populations - size, density, location, age, gender, race, occupation, and other statistics
Akira Takano, a marketing manager of Delight Resort and Vacation Hotels, is about to test the hypothesis that the sale of a particular spa package will increase exponentially if there is a $5 drop in the selling price of the product. Akira is involved in _________ research.
Causal
Which of the following statements is true regarding competitive marketing intelligence?
Competitive marketing intelligence relies upon publicly available information.
In routine buying situations, which of the following members of the buying center has formal or informal power to select or approve the final suppliers?
Deciders
Which of the following is the first step in the marketing research process?
Defining the problem and objectives of the study
Income segmentation
Dividing a market into different income groups
Market Segmentation
Dividing a market into distinct groups of buyers who have different needs, characteristics, or behaviors, and who might require separate products or marketing programs
macroenvironment
larger societal forces that affect the microenvironment
Mary Adams is helping her company develop a marketing program for a new product line. The program is designed to appeal most to less materialistic consumer groups who are likely to prize experience, not acquisition. The marketing program is most likely designed to appeal to which of the following demographic groups?
Gen X
demographic trends
Includes changing age and family structures, geographic population shifts, educational characteristics, and population diversity
Gilron Holidays runs a premium membership club which caters to customers whose annual salary exceeds $100,000. Members of this club are offered seasonal discounts on select luxury hotels in select cities worldwide. Gilron Holidays most likely follows a(n) ________ segmentation approach.
Income
Kei, a senior marketing manager of a pizzeria in North Florida, is currently researching electronic collections of consumer information within the company network to arrive at crucial marketing decisions. In this instance, Kei is using ________.
Internal database
Which of the following statements is not true regarding marketing intelligence?
Marketing intelligence can be gathered by a company's executives, front-desk staff, service staff, purchasing agents and sales force. ???????
Which of the following is true with regard to marketing research?
Marketing research gives marketers insights into customer motivations.
With the recent explosion of information technologies, ________.
Most marketing managers are overloaded with data and often overwhelmed by it
Tropicana promotes drinking orange juice at any time of day as a cool, refreshing drink. The market segmentation approach Tropicana is using is ________.
Occasion seegmentation
online social networks
Online social communities - blogs, social networking Web sites, and other online communities - where people socialize or exchange information and opinions
_______ are the people within a reference group who, because of special skills, knowledge, personality, or other characteristics, exert influence on others.
Opinion leaders
Which of the following statements about income distribution in the United States is NOT true?
Over the past several decades, the middle class has grown faster than other classes.
income distribution
Over the past several decades, the rich have grown richer, the middle class has shrunk, and the poor have remained poor.
focus group interviewing
Personal interviewing that involves inviting 6 to 10 people to gather for a few hours with a trained interviewer to talk about a product, service, or organization. The interviewer "focuses" the group discussion on important issues.
Marketing stimuli include which of the following?
Price Stimuli
Through ________ differentiation, brands can be differentiated on features, performance, or style and design.
Product
as _________, reach their peak earning and spending years, they constitute a lucrative market for travel and entertainment, eating out, spas, and other leisure activities
Silent generation?
_________ are society's relatively permanent and ordered divisions whose members share similar values, interests, and behaviors
Social Networks????
SMERF
Social, Military, Educational, Religious, Fraternal
with an expected increase in ethnic diversity within American population, marketeers are most likely to place a greater emphasis on ________.
Targeted advertising messages
Macroenvironment
The larger societal forces that affect the whole microenvironment: competitive, demographic, economic, natural, technological, political, and cultural forces.
What is demography?
The scientific study of population characteristics.
Order-routine specification
The stage of the business buying process in which the buyer writes the final order with the chosen supplier(s), listing the technical specifications, quantity needed, expected time of delivery, return policies, and warranties.
what is the sunbelt
The sunbelt is a group of southern and western states that receive high amounts of sun.
________ refers to a market-coverage strategy in which a firm decides to ignore market segment differences and go after the whole market with one offer.
Undifferentiated marketing
Degree of product homogeneity
Undifferentiated marketing is more suited for homogeneous products. Products that can vary in design, such as restaurants and hotels, are more suited to differentiation or concentration.
Competitors' strategies
When competitors use segmentation, undifferentiated marketing can be suicidal. Conversely, when competitors use undifferentiated marketing, a firm can gain an advantage by using differentiated or concentrated marketing.
aspirational group
a group to which a person wishes to belong
motive
a need that is sufficiently pressing to direct the person to seek satisfaction of the need
Personality
a person's distinguishing psychological characteristics that lead to relatively consistent and lasting responses to his/her environment
marketing information system (MIS)
a structure of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
Microenvironment
actors and forces close to the company that affects its ability to serve its customers
buying center
all those people in an organization who become involved in the purchase decision-making process and who share common goals and the risks arising from the decisions.
competitive advantage
an advantage over competitors gained by offering greater customer value, either by having lower prices or providing more benefits that justify higher prices
public
any group that has an actual or potential interest in or impact on an organization's ability to achieve its objectives. - financial, media, government, citizen-action, local, general, and internal
Among the generational groups in the US population, the _____________ are still the wealthiest generation in US history
baby boomers
gen Z
born after 2000
baby boomers
born between 1946 and 1964
gen x
born between 1965 and 1976 - lie in the shadow of the baby boomers and lack obvious distinguishing characteristics
millennials
born between 1977 and 2000 - children of baby boomers
Many marketers use the self-concept premise that people's possessions contribute to and reflect their identities-- that is "we are what we consume." According to this premise, consumers ________.
buy products to support their self image
cognitive dissonance
buyer discomfort caused by post purchase conflict
the single most important demographic trend in the US is the
changing age structure of the population
a company's marketing decisions may be questioned by consumer organizations, environmental groups, minority groups, and others. These organizations and groups are also known as _____
citizen-action publics
data warehouses
collect data from a variety of sources and store it in an accessible location.
online marketing research
collecting primary data online through internet surveys, online focus groups, web-based experiments, or tracking consumers' online behavior
internal data
consists of electronic databases and non electronic information and records of consumer and market information obtained from within the company
company
design marketing plans, marketing management takes other company groups into account and work in harmony with them to create customer value and relationships
Companies that take a proactive stance toward the marketing environment are most likely to _________
develop strategies to change the environment in their favor?
geographic segmentation
dividing a market into different geographical units, such as nations, states, regions, counties, cities, or even neighborhoods
psychographic segmentation
dividing a market into different segments based on social class, lifestyle, or personality characteristics
Behavioral Segmentation
dividing a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product
marketing intelligence
everyday information about developments in the marketing environment that help managers prepare and adjust marketing plans.
underpositioning
failing ever to position the company at all
types of publics
financial, media, government, citizen-action, local, general, internal
financial intermediaries
firms that help hospitality companies finance their transactions or insure the risks associated with the buying and selling of goods and services - banks, credit companies, insurance companies
Marketing intermediaries
firms that help the company to promote, sell, and distribute its goods to final buyers; they include middlemen, physical distribution firms, marketing service agencies, and financial intermediaries. - EX: expedia or travelocity that does bundles
market positioning
formulating competitive positioning for a product and a detailed marketing mix
customer insight
fresh marketing information-based understandings of customers and the marketplace derived from marketing information that become the basis for creating customer value and relationships
online focus groups
gathering a small group of people online with a trained moderator to chat about a product, service, or organization and gain qualitative insights about consumer attitudes and behavior
survey research
gathering primary data by asking people questions about their knowledge, attitudes, preferences, and buying behavior.
observational research
gathering primary data by observing relevant people, actions, and situations
experimental research
gathering primary data by selecting matched groups of subjects, giving them different treatments, controlling related factors, and checking for differences in group responses
Overpositioning
giving buyers a too-narrow picture of the company
membership groups
groups that have a direct influence and to which a person belongs
Which of the following is NOT a benefit of using multivariable segmentation systems?
help companies more accurately price their products to appeal to key customer segments
The term "big data" refers to the ________ generated by today's sophisticated information generation, collection, storage and analysis technologies.
huge and complex data sets
Market Homogeneity
if buyers have the same tastes, buy a product in the same amounts, and react the same way to marketing efforts, undifferentiated marketing is appropriate
political environment
increased legislation and regulation, changing government agency enforcement, and international politics
primary data
information collected for the specific purpose at hand
Donna wants to book a hotel. During the _____ stage of the buyer decision process she will ask her friends to recommend travel agencies that help reserve hotel rooms. She will also go through magazines to look out for promotional offers and sales on hotels
information search
Secondary data consists of ____________________
information that already exists somewhere, having been collected for another purpose
secondary data
information that already exists somewhere, having been collected for another purpose
Markets are becoming more diverse
international/national
environmental sustainability
involves developing strategies and practices that create a world economy that the planet can support indefinitely
demographic environment
involves people, and people make up markets
generational marketing
is important in segmenting people by lifestyle or life stage instead of age.
A(n) _________ consist of people and procedures dedicated to assessing information needs, developing the needed information, and helping makers use the information to generate and validate actionable customer and market insights
marketing information system
intermediaries
marketing intermediaries are firms that help the company to find customers and promote, sell, and distribute its goods to final buyers.
SoLoMo (social + local + mobile)
marketing that targets on-the-go consumers as they come and go in key local market areas
Many hotel companies today use RFID technology to __________
move toward environmental sustainability
the decision process by which organizational buyers determine which products and services their organizations need to purchase and then find, evaluate, and choose among alternative suppliers and brands is known as ________
organizational buying process????
derived demand
organizational demand that ultimately comes from (derives from) the demand for consumer goods
opinion leaders
people within a reference group who, because of their special skills, knowledge, personality, or other characteristics, exerts social influence on others
natural environment
physical environment and natural resources that are needed as inputs by marketers or that are affected by marketing activities
After the purchase of a product, consumers will be either satisfied or dissatisfied and engage in ________.
post purchase behavior
Specific Product Attributes
price and product features can be used to position a product
suppliers
provide the resources to produce goods and services - treat as partners to provide customer value - in creating value for customers, marketers must partner with other firms in the company's value delivery system
e-procurement
purchasing through electronic connections between buyers and sellers - usually online
social classes
relatively permanent and ordered divisions in a society whose members share similar values, interests, and behaviors
descriptive research
research to better describe marketing problems, situations, or markets,
explanatory research
research to gather preliminary information that will help to better define problems and suggest hypotheses.
causal research
research to test hypotheses about cause-and-effect relationships
Which of the following is LEAST relevant when a firm evaluates different market segments?
segment structural attractiveness
self-concept
self-image, the complex mental pictures people have of themselves.
role
the activities that a person is expected to perform according to the persons around him or her.
Marketing Environment
the actors and forces outside marketing that affect marketing management's ability to build and maintain successful transactions with target customers
Major Actors in the Microenvironment
the company, suppliers, marketing intermediaries, competitors, publics, customers
organizational buying process
the decision-making process by which formal organizations establish the need for purchased products and services and identify, evaluate, and choose among alternative brands and suppliers
value proposition
the full mix of benefits on which a brand is differentiated and positioned
cross-cultural marketing
the practice of including ethnic themes and cross-cultural perspectives within their mainstream marketing
Market Targeting
the process of evaluating each market segment's attractiveness and selecting one or more segments to enter
culture
the set of basic values, perceptions, wants, and behaviors learned by a member of society from family and other important institutions
brand image
the set of beliefs consumers hold about a particular brand
performance review
the stage of the business buying process in which the buyer assesses the performance of the supplier and decides to continue, modify, or drop the arrangement
Supplier Selection
the stage of the business buying process in which the buyer reviews proposals and selects a supplier or suppliers
supplier search
the stage of the business buying process in which the buyer tries to find the best vendors
product specification
the stage of the business buying process in which the buying organization decides on and specifies the best technical product characteristics for a needed item
problem recognition
the stage of the industrial buying process in which someone in a company recognizes a problem or need that can be met by acquiring a good or a service.
family life cycle
the stages through which families might pass as they mature
marketing research
the systematic design, collection, analysis, and reporting of data relevant to a specific marketing situation facing an organization/company.
product position
the way a product is defined by consumers on important attributes- the place the product occupies in consumers' minds relative to competing products
ethnographic research
trained observers interact with and/or observe consumers in their natural habitat
group
two or more people who interact to accomplish individual or mutual goals
Which of the following refers to a behavioral segmentation variable that involves segmenting markets into nonusers, ex-users, potential users, first-time users, and regular users of a product?
user status
B-to-B digital and social media marketing
using digital and social media marketing approaches to engage business customers and manage customers relationship anywhere, anytime.
changes in consumer spending
value marketing involves offering financially cautious buyers greater value- the right combo of quality and service at a fair price.
Companies can research many aspects of buying decisions. However, the one that is the most difficult to identify is ____________
why they buy
