HFT 2500; Hosp + Tourism Marketing -
Study Guide fully solved
Marketing - ANS ✔✔... is the process of by which companies create value for customers and
society, resulting in strong customer relationships that capture value from the customers in
return.
Marketing mix elements include all of the following EXCEPT: - ANS ✔✔Marketing information
systems
Instead of simply being defined as "freedom from defects," QUALITY should be defined: - ANS
✔✔In terms of customer satisfaction
Relationship marketing is a process where marketers work at building relationships with
customers, distributors, dealers, and: - ANS ✔✔Suppliers
When backed by buying power, wants become: - ANS ✔✔Demands
When hotel management establishes no-smoking floors, bar managers no longer allow happy
hours with free drink specials, and resort managers eliminate pollution from their properties,
the ________ concept is being employed. - ANS ✔✔Societal marketing
A ________ is anything that can be offered to a market to satisfy a want or need. - ANS
✔✔Product
Building strong economic and social ties with customers by delivering high-quality products and
services is the foundation of: - ANS ✔✔Relationship marketing
, A ________ is a state of felt deprivation. - ANS ✔✔need
It is wise to assess the customer's __________ value and take appropriate actions to ensure a
customer's long-term support. - ANS ✔✔Long-term
The Forum Company found that the cost of retaining a loyal customer is just ____ percent of the
cost of attracting a new one. - ANS ✔✔20
Which of the following is not part of the four-P framework of marketing? - ANS ✔✔placement
The most basic concept underlying marketing is that of: - ANS ✔✔needs
One of the biggest nonmonetary costs for hospitality customers is ___________. - ANS ✔✔Time
____________ is the act of obtaining a desired object from someone by offering something in
return. - ANS ✔✔Exchange
The production concept holds that consumers will favor products that are __________ and
highly ____________, and therefore management should focus on production and distribution
efficiency. - ANS ✔✔Available, affordable
A company's _______________ is the set of benefits or values it promises to deliver to
consumers to satisfy their needs. - ANS ✔✔Value proposition
Under the product concept, marketing strategy focuses on making continuous product
___________. - ANS ✔✔improvements
Study Guide fully solved
Marketing - ANS ✔✔... is the process of by which companies create value for customers and
society, resulting in strong customer relationships that capture value from the customers in
return.
Marketing mix elements include all of the following EXCEPT: - ANS ✔✔Marketing information
systems
Instead of simply being defined as "freedom from defects," QUALITY should be defined: - ANS
✔✔In terms of customer satisfaction
Relationship marketing is a process where marketers work at building relationships with
customers, distributors, dealers, and: - ANS ✔✔Suppliers
When backed by buying power, wants become: - ANS ✔✔Demands
When hotel management establishes no-smoking floors, bar managers no longer allow happy
hours with free drink specials, and resort managers eliminate pollution from their properties,
the ________ concept is being employed. - ANS ✔✔Societal marketing
A ________ is anything that can be offered to a market to satisfy a want or need. - ANS
✔✔Product
Building strong economic and social ties with customers by delivering high-quality products and
services is the foundation of: - ANS ✔✔Relationship marketing
, A ________ is a state of felt deprivation. - ANS ✔✔need
It is wise to assess the customer's __________ value and take appropriate actions to ensure a
customer's long-term support. - ANS ✔✔Long-term
The Forum Company found that the cost of retaining a loyal customer is just ____ percent of the
cost of attracting a new one. - ANS ✔✔20
Which of the following is not part of the four-P framework of marketing? - ANS ✔✔placement
The most basic concept underlying marketing is that of: - ANS ✔✔needs
One of the biggest nonmonetary costs for hospitality customers is ___________. - ANS ✔✔Time
____________ is the act of obtaining a desired object from someone by offering something in
return. - ANS ✔✔Exchange
The production concept holds that consumers will favor products that are __________ and
highly ____________, and therefore management should focus on production and distribution
efficiency. - ANS ✔✔Available, affordable
A company's _______________ is the set of benefits or values it promises to deliver to
consumers to satisfy their needs. - ANS ✔✔Value proposition
Under the product concept, marketing strategy focuses on making continuous product
___________. - ANS ✔✔improvements
