HFT 4502 FINAL (12,13,14,17) LINE FSU EXAM QUESTIONS AND ANSWERS ALREADY PASSED

HFT 4502 FINAL (12,13,14,17) LINE FSU EXAM QUESTIONS AND ANSWERS ALREADY PASSED firms that supply what is needed to create a product/service - Answers upstream partners of supply chain firms that connect the firm with its customers - Answers downstream partners of supply chain set of independent organizations involved in the process of making a product/ service available to the end user - Answers distribution channels -Direct -GDS -OTAs -Travel Agents (Tauck) -Tour Wholesalers - Answers major hospitality distribution channels serve casinos as intermediaries to bring in premium players - Answers junket reps conflict between different levels of the same channel - Answers vertical conflict conflict between firms at the same level of the channel (ex. Pizza Hut franchisees cheating on ingredients and providing poor service; hurts overall image of Pizza Hut nationally - Answers horizontal conflict producers, retailers, & wholesalers acting as a unified system ('all under one umbrella') - Answers Vertical Marketing Systems (VMSs) -Administered VMS -Corporate VMS -Contractual VMS - Answers 3 types of VMSs coordinates stages of production & distribution through the size and power of the parties; leadership is assumed by one or a few dominant channel members - Answers administered VMS combines successive stages of production & distribution under single ownership - Answers corporate VMS consists of independent firms at different levels of production and distribution who join through contracts (ex. franchising) - Answers contractual VMS method by which a franchisee is granted the right to engage in offering, selling, or distributing goods or services under a marketing format which is designed by the franchisor - Answers franchising developed to allow two organizations to benefit from each other's strengths (ex. gas stations & restaurants combined with one another) - Answers alliances two or more companies at one level join to follow a new marketing opportunity (ex. SeaWorld offering discount to AAA members) - Answers Horizontal Marketing Systems (HMSs) specific blend of advertising, public relations, personal selling, sales promotion, & direct-marketing tools that companies to communicate customer value and build customer relationships - Answers promotion mix company carefully integrates its many communication channels to deliver a clear & consistent message about the organization - Answers Integrated Marketing Communications (IMC) 1. Sender 2. Encoding 3. Message (media) 4. Decoding 5. Receiver 6. Response 7. Feedback - Answers elements of communication process