HFT 2500 Midterm Study Guide
questions with complete solutions
Marketing mix elements include all of the following EXCEPT: - ANS ✔✔Marketing information
systems
When backed by buying power, wants become: - ANS ✔✔Demands
It is wise to assess the customer's __________ value and take appropriate actions to ensure a
customer's long-term support. - ANS ✔✔Long-term
Which of the following is not part of the four-P framework of marketing? - ANS ✔✔Public
Relations
A product can be: - ANS ✔✔Tangible or intangible
A company's _______________ is the set of benefits or values it promises to deliver to
consumers to satisfy their needs. - ANS ✔✔Value proposition
The hospitality industry is the second largest employer in the United States. - ANS ✔✔True
The simplest definition of marketing is delivering customer satisfaction at a profit. - ANS
✔✔True
"Quality" could be defined as the features and characteristics of a product that bear on its
ability to satisfy customer needs. - ANS ✔✔True
, In choosing among products, the guiding principle of most consumers is customer value-the
most benefit for the price. - ANS ✔✔True
Most restaurant kitchens would be considered examples of invisible organizations. - ANS
✔✔True
"We are Ladies and Gentlemen serving Ladies and Gentlemen" is a motto for: - ANS ✔✔Ritz-
Carlton
Which of the following is NOT a link in the service-product chain? - ANS ✔✔Increasingly
intangible services
Within the realm of Customer Relationship Management (CRM) switching costs are only
monetary in nature. - ANS ✔✔False
So long as a company sets high standards for service quality, it is not necessary to evaluate its
actual performance. - ANS ✔✔False
Empowering employees in part means giving them the authority to tend to customer needs. -
ANS ✔✔True
The perishability of a service is especially a problem when demand fluctuates. - ANS ✔✔True
Service marketing requires both internal marketing and ______________ marketing. - ANS
✔✔Interactive
Which of the following statements is FALSE? - ANS ✔✔The use of CRM in the hospitality
industry appears to be strong.
questions with complete solutions
Marketing mix elements include all of the following EXCEPT: - ANS ✔✔Marketing information
systems
When backed by buying power, wants become: - ANS ✔✔Demands
It is wise to assess the customer's __________ value and take appropriate actions to ensure a
customer's long-term support. - ANS ✔✔Long-term
Which of the following is not part of the four-P framework of marketing? - ANS ✔✔Public
Relations
A product can be: - ANS ✔✔Tangible or intangible
A company's _______________ is the set of benefits or values it promises to deliver to
consumers to satisfy their needs. - ANS ✔✔Value proposition
The hospitality industry is the second largest employer in the United States. - ANS ✔✔True
The simplest definition of marketing is delivering customer satisfaction at a profit. - ANS
✔✔True
"Quality" could be defined as the features and characteristics of a product that bear on its
ability to satisfy customer needs. - ANS ✔✔True
, In choosing among products, the guiding principle of most consumers is customer value-the
most benefit for the price. - ANS ✔✔True
Most restaurant kitchens would be considered examples of invisible organizations. - ANS
✔✔True
"We are Ladies and Gentlemen serving Ladies and Gentlemen" is a motto for: - ANS ✔✔Ritz-
Carlton
Which of the following is NOT a link in the service-product chain? - ANS ✔✔Increasingly
intangible services
Within the realm of Customer Relationship Management (CRM) switching costs are only
monetary in nature. - ANS ✔✔False
So long as a company sets high standards for service quality, it is not necessary to evaluate its
actual performance. - ANS ✔✔False
Empowering employees in part means giving them the authority to tend to customer needs. -
ANS ✔✔True
The perishability of a service is especially a problem when demand fluctuates. - ANS ✔✔True
Service marketing requires both internal marketing and ______________ marketing. - ANS
✔✔Interactive
Which of the following statements is FALSE? - ANS ✔✔The use of CRM in the hospitality
industry appears to be strong.
