HFT4502 UPDATED ACTUAL EXAMINATION SET
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔what is step 3 of the marketing process? - ✔✔preparing the integrated marketing
plan
✔✔what is step 4 of the marketing process? - ✔✔building profitable customer
relationships
✔✔what is step 5 of the marketing process? - ✔✔capturing value
✔✔Losing a customer means - ✔✔losing more than a single sale
✔✔what are the three types of service marketing? - ✔✔external internal and interactive
✔✔The purpose of strategy is to build and maintain successful businesses in the face of
a rapidly changing environment - ✔✔strategic management
✔✔Publics, the company, competitors, suppliers, intermediaries - ✔✔the
microenvironment
✔✔demographic, cultural, economic, natural, technological, political - ✔✔the
macroenvironment
✔✔what are the levels of competitors? - ✔✔product form product category general and
budget
✔✔companies that offer similar services to the same customers at a similar price -
✔✔product form
✔✔companies that make the same product or class of products - ✔✔product category
✔✔companies that supply the same service - ✔✔general
✔✔companies that compete for the same consumer dollars - ✔✔budget
✔✔Three variables to monitor when analyzing competitors - ✔✔share of: marketing
mind and heart
✔✔Firms and individuals that provide resources needed to produce goods/services -
✔✔suppliers
✔✔-Restaurants and menu offerings
, -Hotel food service
-Energy prices - ✔✔examples of suppliers
✔✔help the company promote, sell, and/or distribute products/services to final buyers -
✔✔marketing intermediaries
✔✔help implement marketing strategy and tactics - ✔✔marketing service agencies
✔✔firms that finance transactions or provide insurance - ✔✔financial intermediaries
✔✔what is RFP (cvent)? - ✔✔request for proposal
✔✔what is cvent? - ✔✔a marketing intermediary that helps us connect our customers
with our business
✔✔who pays for cvent? - ✔✔meeting planners and businesses pay for it
✔✔ When are the weekly discussion boards due? - ✔✔sundays at 12
✔✔How many points are available in the class? - ✔✔700
✔✔What are the 4 p's? - ✔✔Price product place and promotion
✔✔What is the process by which companies create value for customers and society,
resulting in strong customer relationships which capture value from the customers in
return - ✔✔marketing
✔✔The conscious use of all elements of the marketing mix to create a clear consistent
and compelling image of the brand/ company - ✔✔integrated marketing
communications
✔✔anything that can be offered to a market to satisfy a want or need - ✔✔product
✔✔what is step 1 of the marketing process? - ✔✔understanding the marketplace and
customer needs
✔✔set of benefits or values that a market offerings or companies promises to deliver to
a consumer to satisfy a want or need - ✔✔value proposition
✔✔"The marketing management philosophy that holds that achieving organizational
goals depends on determining the needs and wants of target markets more effectively
and efficiently than competitors" - ✔✔market orientation
QUESTIONS AND SOLUTIONS GUARANTEE A+
✔✔what is step 3 of the marketing process? - ✔✔preparing the integrated marketing
plan
✔✔what is step 4 of the marketing process? - ✔✔building profitable customer
relationships
✔✔what is step 5 of the marketing process? - ✔✔capturing value
✔✔Losing a customer means - ✔✔losing more than a single sale
✔✔what are the three types of service marketing? - ✔✔external internal and interactive
✔✔The purpose of strategy is to build and maintain successful businesses in the face of
a rapidly changing environment - ✔✔strategic management
✔✔Publics, the company, competitors, suppliers, intermediaries - ✔✔the
microenvironment
✔✔demographic, cultural, economic, natural, technological, political - ✔✔the
macroenvironment
✔✔what are the levels of competitors? - ✔✔product form product category general and
budget
✔✔companies that offer similar services to the same customers at a similar price -
✔✔product form
✔✔companies that make the same product or class of products - ✔✔product category
✔✔companies that supply the same service - ✔✔general
✔✔companies that compete for the same consumer dollars - ✔✔budget
✔✔Three variables to monitor when analyzing competitors - ✔✔share of: marketing
mind and heart
✔✔Firms and individuals that provide resources needed to produce goods/services -
✔✔suppliers
✔✔-Restaurants and menu offerings
, -Hotel food service
-Energy prices - ✔✔examples of suppliers
✔✔help the company promote, sell, and/or distribute products/services to final buyers -
✔✔marketing intermediaries
✔✔help implement marketing strategy and tactics - ✔✔marketing service agencies
✔✔firms that finance transactions or provide insurance - ✔✔financial intermediaries
✔✔what is RFP (cvent)? - ✔✔request for proposal
✔✔what is cvent? - ✔✔a marketing intermediary that helps us connect our customers
with our business
✔✔who pays for cvent? - ✔✔meeting planners and businesses pay for it
✔✔ When are the weekly discussion boards due? - ✔✔sundays at 12
✔✔How many points are available in the class? - ✔✔700
✔✔What are the 4 p's? - ✔✔Price product place and promotion
✔✔What is the process by which companies create value for customers and society,
resulting in strong customer relationships which capture value from the customers in
return - ✔✔marketing
✔✔The conscious use of all elements of the marketing mix to create a clear consistent
and compelling image of the brand/ company - ✔✔integrated marketing
communications
✔✔anything that can be offered to a market to satisfy a want or need - ✔✔product
✔✔what is step 1 of the marketing process? - ✔✔understanding the marketplace and
customer needs
✔✔set of benefits or values that a market offerings or companies promises to deliver to
a consumer to satisfy a want or need - ✔✔value proposition
✔✔"The marketing management philosophy that holds that achieving organizational
goals depends on determining the needs and wants of target markets more effectively
and efficiently than competitors" - ✔✔market orientation
