Special Events Knowledge matters
Non-traditional retail channels are growing at a slow pace compared to traditional, physical store locations, since they are generally more expensive to operate. a) True b) False
B
When buying media, there is always a tradeoff between: a) The quality of the medium and the frequency at which people are exposed to the ad b) The cost of the ad placement and the number of people exposed to the message c) Control and cost d) Ability to track the medium and the cost of the ad placement e) Credibility and cost
B
_____________, fill in the blank, is defined as all activities directly related to the sale of goods and services to the ultimate consumer for personal, nonbusiness use or consumption. a) Wholesaling b) Retailing c) Business d) Franchising e) Distribution
B
Monitoring demand provides an opportunity for the company to: A)Analyze the return on investment B)Calculate expenses that will lead to greater cost controls in the future C)Adjust prices, expectations, and goals as needed D)Learn how to apply marketing research in order to understand customer's needs E)Better understand which salespeople are underperforming so that training programs can be offered to improve their sales skills
C
All of the following are disadvantages associated with advertising, EXCEPT: a) Low credibility b) Inability to tailor messages on an individual level c) One way communication, which prevents consumers from providing immediate feedback d) High absolute costs e) The advertiser has little control over the timing of the message
E
How frequently should training occur?
regular intervals
A _____________, fill in the blank, is a dining room attendant who takes orders and serve food. a) Server b) Maitre'd c) Host d) Busser
A
A restaurant manager should: a) Be present throughout the restaurant b) Remain in the backoffice so as not to unnerve employees c) Monitor performance through the POS system d) Shadow particular employees
A
A single type of product may have several price points. A) True B) False
A
A traditional brick-and-mortar store can chose an independent store, planned shopping center or unplanned shopping district for its physical store location. a) True b) False
A
A well-designed Internet-based marketing research project can cost less yet yield faster results than face-to-face (offline) research. a) True b) False
A
Although good for company revenue, overbooking has the potential to alienate customers and cause negative word-of-mouth. A) True B) False
A
Any point of contact between a buyer and a seller is a brand "touch point". a) True b) False
A
Controls are rules or restrictions that companies develop in a pricing policy to encourage profitable customers while discouraging unprofitable ones. A) True B) False
A
David manages an upscale Italian restaurant. He would like his customers' opinions on a variety of new menu options they are considering offering. He plans on reading the name and description of each dish, as it will appear on the menu, and allowing customers to taste each menu item so that they may provide detailed feedback to the chef and marketing team. David will most likely use _____________, fill in the blank, to gather this type of data. a) Primary research b) Secondary research c) Neither of the above
A
FAO Schwarz is unique children's toy store where customers can play with toys in each department prior to purchasing them, can step on an oversized piano, can walk through elaborate Lego castles, and can meet characters from their favorite cartoons during their visit. Families typically visit the store together and stay for several hours to get the complete experience. The store can best be described as a: a) Destination store b) Omnichannel store c) Direct distribution channel d) Pop-up store e) Parasite store
A
Genesis Worldwide, Inc. purchases fragrances and cosmetics in bulk from major European manufacturers and resells them in smaller quantities to beauty store retailers throughout the Caribbean and Latin America. Genesis Worldwide, Inc. is acting as a _____________, fill in the blank, in the channel of distribution. a) Wholesaler b) Retailer c) Agent d) Franchisor e) Parasite retailer
A
Jennifer Lopez and Marc Anthony have established fashion lines developed for and sold only through Kohl's department stores nationwide. Kohl's secured these lines to attract a particular market segment and build loyalty to these product lines, which will ultimately generate repeat traffic to the store since these brands cannot be purchased elsewhere. Their distribution arrangement can best be described as: a) Exclusive distribution b) Selective distribution c) Intensive distribution d) Omnichannel retailing e) Non-traditional retailing
A
Offering special deals to customers to entice them to eat out during a restaurant's slower, weekday periods is an example of: A)Dynamic pricing B)Penetration pricing C)Loss leader pricing D)List pricing E)Competitive pricing
A
Overbooking allows airlines to create a full flight by filling empty airplane seats that no-show passengers create. A) True B) False
A
Sephora is interested in improving its store layouts to allow for better flow during busy shopping periods. The researcher in charge of the study would like to examine shopper patterns to determine how frequently customers turn left when they walk into the store and which aisles are most popular. The best method to collect this data would be a) Observation b) Survey c) Test marketing d) Experiments e) Focus groups
A
Staffing levels should be the highest when a restaurant is expected to be busy A) True B) False
A
The easiest form of advertising to track and measure is online digital advertising. a) True b) False
A
The elements of the promotional mix that an advertiser can use to communicate with a customer include advertising, public relations, professional selling, sales promotions, direct marketing, and online/digital marketing. a) True b) False
A
The first step in the marketing research process is always: a) To determine the company's research goals b) To collect secondary data c) To determine the group of research participants for the study and the sample size d) To plan the research design e) To interpret primary data
A
The majority of consumers' time spent online with retailers takes place on their mobile devices. a) True b) False
A
The percentage of customers who click on an ad or link of interest to them is called: a) The click through rate b) A hit c) A pageview d) The conversion rate e) The CPM
A
The salesperson for the local radio station WOMX states that their listening audience is made up of 120,000 people in the coverage area. This number can also be referred to as the station's: a) Reach b) Frequency c) Viewership d) Circulation e) Rating
A
The two broad categories of expenses related to advertising are: a) Media buying and production expenses b) Publicity and production expenses c) Promotional product marketing and sponsorships d) Media buying and account planning expenses e) Planning and implementation expenses
A
Traditional forms of media, such as newspapers, radio and television have declined in use in recent years as more unusual forms of media have been created to break through clutter and offer advertisers a more cost effective, and sometimes more measurable, way to promote their brands. a) True b) False
A
What best decribes change in the hospitality industry? a) Change is rapid driven by trends, concepts, fads and people b) Change is slow and evolutionary as people appetites don't change much c) The industry almost never changes--restaurants have been around for thousands of years
A
When Elizabeth was asked to develop a promotional budget for the year, she planned out every marketing activity, researched the cost involved for each, and added it up to determine a total budget that would be needed to implement new marketing initiatives for the upcoming year. She submitted it to her supervisor for final approval before implementing the plan. This is an example of a(n) _____________, fill in the blank, approach to budgeting. a) Bottom up b) Top down c) Competitive parity d) Percentage of sales e) Status quo
A
When General Electric retrieves customer purchasing profile data from its vast computer systems in order to plan a target marketing program, it is accessing secondary data. a) True b) False
A
When a commercial for men's razor blades demonstrate how the blades work to create the closest shave, the brand is using a _____________, fill in the blank, creative appeal to get the customer's attention. a) Informational b) Fear c) Irrational d) Emotional e) Humor
A
Yield management is the process of examining and analyzing the actions of consumers in order to set variable prices for a perishable product or service at the maximum amount of profit. A) True B) False
A
Your restaurant should have designated trainers. A) True B) False
A
Your should expect all of your servers to be pleasant and happy while interacting with your guests. A) True B) False
A
A local radio commercial costs $600 and reaches an estimated 10,250 listeners. A local cable commercial costs $1000 and reaches an estimated 18,500 viewers. Which medium provides the lowest CPM? a) The radio commercial b) The cable commercial c) The radio and cable commercials have the same CPM d) The CPM cannot be calculated given the limited information provided e) None of the above
B
At the Fisher Price playlab, scientists allow children to play with a variety of toys in development while they watch their reactions through a one-way mirror. This helps the Fisher Price team determine the right features for their product, including shape, size, color and more. This type of research uses: a) Interviewing b) Observation c) Purchase panels d) Analysis of scanner data e) Focus groups.
B
Due to the high visibility of advertising, it is a very credible source of information for most consumers. a) True b) False
B
E-commerce is growing at a rapid pace in today's marketplace for all of the following reasons, EXCEPT: a) Consumer demand for accessibility to retailers at times and locations that are convenient for them b) Consumer confidence in the protection of their privacy and security of their financial information c) Low barriers to entry and low overhead costs, allowing companies to easily create an online storefront d) The ability to track purchases and offer selections and promotions tailored to the taste of each individual customer
B
For traditional brick-and-mortar retailers, such as grocery stores and gas stations, the most fundamental decision in their distribution strategy is: a) Product assortment b) Convenient locations c) Offering discounts to customers d) Gaining exclusive rights to distribute the products they sell e) Private-label merchandise
B
Increasing a hotel's room rate will always achieve a higher RevPAR A) True B) False
B
Information collected for the first time for a marketing research study to solve a particular issue is called: a) Secondary data b) Primary data c) Real data d) Experimental data e) Database marketing
B
Marketing research is designed to provide relevant information in a useful format so that: a) Managers can support decisions they have already made b) Managers can interpret the information and make decisions that will positively impact the company c) Managers can keep accurate historical records that can be passed down through the generations d) Managers can communicate the benefits of a product to the end consumer of it
B
One thing that is usually true of focus groups is that a) Most groups take place over the course of several months b) they usually include 6 to 12 participants c) The group contains only research participants who guide themselves through the conversation d) The questions asked are primarily closed ended questions that are simple to tabulate e) The company's marketing team must be present in the focus group to explain key concepts and hear information first hand
B
Qualitative research is characterized by: a) Having large sample size b) Open ended questions that allow for deep insights c) Closed ended questions that are simple to tabulate d) Being very expensive e) Requiring an independent and dependent variable to be identified
B
Revenue management is a principle popularized by the hotel industry that calculates the average revenue of available rooms per night. A) True B) False
B
Sandra is in the market for a new PC computer. She plans to go online to Dell's website, visit her local Best Buy and Walmart store locations, and even see if she can find options on Amazon.com. She is able to shop around for the best product and price to meet her needs, since most computer manufacturers use a(n) _____________, fill in the blank, distribution intensity when bringing a product to market. a) Intensive b) Selective c) Exclusive d) Short e) Long
B
The Chief Marketing Officer of the Kimberly-Clark Company will be using a percentage of sales method to set the advertising budget for the year. Historically, the company uses 7% of sales for promoting their brand of toilet paper each year. Based on market data, the company estimates to achieve $2.8 million dollars in sales this coming year. What will their budget be for promoting the brand? a) $19,600 b) $196,000 c) $400,000 d) $1,960,000 e) $2,604,000
B
The Revenue Management Cycle includes all of the following key phases EXCEPT: A) Forecasting demand B) Creating derived demand C) Optimizing demand D)Controlling demand E)Monitoring the results
B
The majority of retail sales today take place online rather than in physical stores. a) True b) False
B
The most common way to analyze the frequency of responses to any survey question on a questionnaire is by: a) Mean b) A one-way frequency table/graph c) A cross tabulation table/graph d) Standard deviation e) Variance
B
The number of rooms in a hotel that have been rented out compared to the total number of rooms is called the RevPAR A) True B) False
B
The occupancy rate is: A) A form of control in a pricing policy to encourage profitable customers while discouraging unprofitable ones B) The number of rooms in a hotel that have been rented out compared to the total number of rooms C) The average revenue of available rooms per night D) The number of individual hotels within a hotel chain that have at least one overnight guest staying at the property E) Expected to be 100% at all time
B
The primary goal of yield management pricing is to: A) Yield more brand loyalty B) Maximize the average revenue C) Cut costs D)Control positioning of the brand E) Build a brand image
B
The survey method of marketing research was developed in order to allow researchers to directly observe and measure individual behavior. a) True b) False
B
What is the primary role of contests and games for employees? a) Skills testing b) Improved employee motivation c) Compensation management d) Fun
B
A _____________, fill in the blank, is a person who makes sure that guests are satisfied with their dining experience by visiting each table at least once a) Server b) Maitre'd c) Host d) Busser
C
As Misty designed the banner ad that would be used for their paid online media buy, she decided to promote the company's special discount currently being offered to online users. The ad simply invited customers to "click here for 25% off and free shipping," at which point the user was redirected to her company's website. Once implemented, she found the campaign to yield a much better click through rate than a typical online banner campaign. It was likely due to: a) The referral traffic of competing websites b) The bounce rate of the website c) A good "call to action" d) Viral marketing e) Organic media
C
Coordinating all of a firm's promotional activities and media to produce a consistent, customer-focused message is known as a) Customer-centric marketing b) The marketing exchange c) Integrated marketing communications d) Non-traditional marketing e) The promotions puzzle
C
In order to compare the efficiencies of media, Derek calculates the CPM for each. For Golf Digest, the circulation is 500,000 and the cost for a full page ad is $40,000. The CPM for Golf Digest is: a) $.08 b) $12.50 c) $80.00 d) $1,250.00 e) $8,000.00
C
New to You is a small resale shop located in a busy shopping center between Old Navy and Pet Supermarket. They hope to attract guests who may be shopping in the center at some of the larger stores and see the beautiful window displays and signage of their store. New to You can be classified as a(n): a) Wholesaler b) Destination store c) Parasite store d) Franchise e) Pop up store
C
Quantitative research techniques have the disadvantage of: a) Small sample sizes b) Statistical summarization of the results c) Being costly and time consuming d) Offering detailed, but subjective, insight by individual participants e) Being easy to replace with secondary data
C
Sephora is a large cosmetic retailer offering customers the opportunity to shop in their independently operated stores, smaller leased stores within major department stores, online on their website, through a mobile app and through their catalog. This is a prime example of: a) Wholesaling b) Franchising c) Omnichannel distribution d) Pop shops e) Parasite stores
C
The Target Corporation markets its own brands of merchandise, called Market Pantry and Up & Up, which include hundreds of consumer packaged goods products available only in Target retail stores. This is an example of: a) Generic products b) Wholesaling c) Private label branding d) Intensive distribution e) Parasite store distribution
C
The average room rate for a standard hotel room at La Romana Inn is $120 per night. Their occupancy rate is 80%. What is the hotel's RevPAR? A)$69.00 B)$80.00 C)$96.00 D)$120.00 E)$150.00
C
The industry has a saying called "the circle of life." What does it mean? a) It is the prayer all employees say together when they start their shift b) The vendors use this to talk about their delivery routes c) Teams learn how to make more money by providing better service that grows the business and employee income d) It's not necessary to create actual teams to work together
C
When making important strategic decisions, managers: a) Believe qualitative research is always representative of the population b) Express strong preference for qualitative research findings since it uses a larger sample size c) Believe both qualitative and quantitative research can be useful to gain detailed insight and then statistically confirm findings d) Feel that qualitative research has greater value due to the cost savings involved e) Prefer quantitative research because it provides deeper insights because of the flexibility of the research design and the use of open ended questions
C
When the ABC Corporation first opened their doors for business, they had no idea how much to allocate to promotional expenditures. They decided that if they wanted to be as successful as their leading competitors, they needed to invest in the brand to the same level. After tracking the marketing tactics of the competition, they were able to estimate the costs and develop a realistic budget that the marketing director was able to spend throughout the year to achieve their communications goals. This is an example of a(n) _____________, fill in the blank, approach to budgeting. a) Bottom up b) Gut feeling c) Competitive parity d) Percentage of sales e) Status quo
C
Which of the following is an example of secondary data? a) A company performs a taste-test in a local supermarket b) A company conducts an online survey to collect data c) A company looks at a previous taste-test conducted in a local supermarket d) A company interviews doctors to find out how they recommend medications e) A company observes shoppers inside a store
C
which of these roles is most important for a restaurant manager to accomplish? a) Enforcing rules b) Promoting the specials c) Teaching the team d) Firing bad employees
C
Revenue management employs analytics in order to better understand: A) Consumer behavior B) The hotel industry C) Marketing research D) Product positioning
Consumer Behavior
A local hotel has priced its single rooms at the rate of $80 per night during off-peak periods. There are 60 rooms in the hotel and 52 have been rented out tonight. What is the hotel's occupancy rate tonight? A) 0.866% B) 1.15% C) 80% D) 87% E) 90%
D
All of the following are advantages associated with advertising, EXCEPT: a) The advertiser can control the message b) The cost to reach each individual customer can be very low c) Mass audiences can be reached through widely used media d) Ability for the consumer to give immediate feedback through two-way communication e) Advertisers can target a particular market utilizing specific media choices
D
It is common during certain holiday seasons, such as Halloween and Christmas, to see small stores utilize unoccupied space within shopping centers to sell holiday merchandise temporarily, while demand is high. Due to the seasonality of these products, the business cannot sustain the high cost to operate the store throughout the year, so they opt for the following store format: a) Destination store b) Franchise c) Independent store d) Pop-up store e) Parasite store
D
Major corporations within the travel industry, such as Expedia, Marriott and Trip Advisor, have realized the growing importance of _____________, fill in the blank, and now offer consumers the option of purchasing directly from their cellular phone by installing the company's app. a) E-commerce b) Retailing c) Selective distribution d) M-commerce e) Exclusive distribution
D
Public Relations is: a) The most persuasive promotional tool b) Easy to measure the effectiveness of c) The media's portrayal of news related to brands and companies d) Any activity designed to create and maintain goodwill toward an organization e) Designed to impact immediate sales
D
The survey method of data collection for marketing research may include a) Observing people as they shop b) An internal review of sales data by product line c) Obtaining census data to analyze trends over the years d) Members of a sample completing a questionnaire e) Testing how the market responds to specific changes in the marketing mix
D
Triple Net (NNN) leases are often quoted to businesses BUT DO NOT include: a)Real estate taxes b)Building insurance c)Maintenance d)All of the above
D
What is meant by qualitative research? a) Research that requires detailed statistical analysis b) Research methods used to monitor inventory levels c) Research methods used to reconcile a company's bank accounts d) Exploratory research used to gain an understanding of underlying reasons, opinions, and motivations
D
What kind of awareness is present about consumption of alcohol? a) People will be people, drinking as much as they wish to when paying for it. b) Restaurants are not responsible for what or how much their patrons drink. c) There will always be alcohol abusers with false identity cards. d) The industry is vigilant about awareness, rules, laws, programs, and all restaurant and bar owners must be aware of their responsibilities to their patrons and society when it comes to service of alcoholic beverages.
D
When baby products (such as formula, diapers and bottles) portray a smiling, happy baby in the visual of the advertisement rather than the product features, they are utilizing a(n) _____________, fill in the blank, creative appeal to get the customer's attention. a) Informational b) Rational c) Irrational d) Emotional e) Indirect
D
Who is responsible for the cleaning standards and practices in your establishment? A) The owner should always perform some of the cleaning to ensure a quality job B) All team members who are servers or bussers have to clean on certain days C) Servers stay late to clean after customers are gone D) Initial set up includes providing for thorough cleaning on a daily basis, perhaps more often for rest rooms, etc. This is critical to management and return of guests
D
Why is it important for a website to be easy to navigate? a) It costs less to create a website that is easy to navigate b) Customers want relevant and timely information c) To ensure that customers understand the site's purpose d) To reduce frustration and allow users to easily find what they are looking for e) To help the site appear first in search results
D
_____________, would be a suggested training program for staff. a) Service standards b) Social media browsing c) Menu training d) a and c e) All of these
D
The concept of _____________, fill in the blank, involves pricing items at a level determined by different customers' perceived ability or willingness to pay. A) Price skimming B) Penetration pricing C) Loss leader pricing D) Dynamic pricing E) Competitive pricing
Dynamic Pricing
A marketing channel in which the producer/manufacturer sells to consumers with no intermediaries involved is called a(n): a) Long distribution channel b) Intensive distribution channel c) Vertical marketing system d) Reverse channel e) Direct channel
E
Adidas has decided to introduce a brand new $500 platinum sneaker in a limited market consisting of only four cities. They plan to monitor the reaction of potential customers to the new product, promotions and pricing strategies, in order to ensure a more effective nationwide rollout in the future. Adidas is going to use: a) Business analysis b) Observation c) Focus group testing d) Laboratory testing e) Test marketing
E
Bottled water is sold in grocery stores, service stations, convenience stores, drugstores, discount stores, and vending machines. This is an example of a(n) _____________, fill in the blank, distribution strategy. a)Exclusive b)Vertical c)Selective d)Horizontal e)Intensive
E
Controlling demand is possible through the use of "fences" which: A) Protect full paying customers who make purchases at the last minute rather than giving away inventory too early at a discount B) Include advance purchases, non-refundability, minimum-length-of-stay requirements, and day-of-week variability C) Ensure that there is sufficient inventory at the higher rate to accommodate the more profitable last-minute business travelers in the hotel industry D) Are rules and regulations that discourage unprofitable customers answer is correct E) All of the above
E
How can a company forecast demand? A) By taking estimated sales for one day and multiplying by the number of days the company is open for business B) By purchasing this data from the Convention & Visitors Bureau or Chamber of Commerce C) By talking with key competitors to share sales forecasts D) By estimating based on a gut feeling or intuition E) By using their past transactional data
E
Marketers often race too quickly into research studies to collect _____________, fill in the blank, data because it is designed to address their specific questions, while _____________, fill in the blank, data may exist that can sufficiently address the marketer's questions at a much lower cost. a) Secondary; Primary b) Syndicated; Primary c) Structured; Unstructured d) Primary; Unstructured e) Primary; Secondary
E
Name the key issues you should pay attention to when hiring: a) The image of the person you are considering hiring b) Their references including a background check for money handlers c) What kind of hours the person will be able to work; some states have curfew laws d) The person must have a clean appearance e) All of the above
E
Traditional brick-and-mortar retailers may evaluate a possible store location based on: a) The amount of pedestrian or vehicular traffic b) Zoning and legal restrictions c) Presence of competitors d) Accessibility to their target market e) All of the above
E
What information is important to know in order to optimize demand? A) Your target audience B)How much your customers are willing to pay C)How much it costs to serve customers D)Which customers to accept and which ones to reject E)All of the above are useful for optimizing demand
E
When Grace was analyzing the findings from a recent survey conducted by her firm, she wanted to understand if there was a difference between age cohorts and their level of brand loyalty. She decided to separate the responses to the question on loyalty (low, moderate or high) and by age groups (18-30, 31-45, 46-60, and 61+) to test her theory that younger age groups were more loyal to the company's brand than older consumers. She will prepare a _____________, fill in the blank, to gain this insight and illustrate the findings. a) Measure of dispersion b) Focus group c) Test market d) One way frequency distribution e) Cross tabulation
E
Which of the following is not a common employee position at a restaurant? a) Host b) Server c) Busser d) Line cook e) Accountant
E
You want to hire the best people you can to work in your restaurant. What is the best way to go about that? a) Place an ad in a local paper for all positions, new restaurant b) If you have kids, they will know of classmates looking for work c) Place a sign in the window near the prospective menu and opening date d) Contact an agency if nothing else works e) All of the above
E
