Upgrade to remove ads
Terms in this set (97)
Initial stage looking for potential customers
Measure the results
The last step for a sales promotion
Sales promotion should be tied to _______
Sales promotions are ____________.
Oriented toward the short-term, are not effective at building long-term customer loyalty, and are aimed at producing anew customers.
Customer opportunity exists when_________
A customer states "the hotel where we usually stay at does not provide adequate bath amenities" a customer opportunity exists.
is a feature
The relaxation provided by the spa is a _______ to the customer
Salesperson must know _________.
Product and capabilities of the organization in order to sell what can be delivered by the organization
Use personal selling based upon how much the customer is paying for the ______________.
goods and services, quantities of goods or services that the customer is buying, and target sources of revenue
Project needs, wants and willingness to pay into potential market
Basic assumption of market segmentation _
Customers have different needs and wants
Goal of Sales Promotions
Increase guest satisfaction
Sushi served at an Italian restaurant involves a promotion that does not fit the ____________.
Example of hotel differentiation
boutique hotel's design scheme
Market segmentation refers to
customers of an organization
Differentiation forms the basis of
perceived difference in a product
When a product reaches commodity status, the product should be __________ by marketing.
A hotel that advertises it's in ground pool is an example of___________.
The main objective of positioning is to _________ the perception that the organization can best solve the customer's problems.
income, education, family size
Customer likes tennis
basis for psychographic segmentation
family life cycle
Is a direct derivative from a firm performing market segmentation
personalized email to past guests of a resort
helps to predict the customer's future behavior
The main objective of positioning is
to create the perception that the organization can best solve the customer's problems
purpose of purchase, purchase occasion, RFM analysis
Differentiation should be
customized to each target market, helps the organization gain a competitive advantage, and is based on perceptions of the product
are adapted to different market segments
To appeal to a new market segment, a hospitality firm may
try to reposition it's brand
Salient factors are used in market to
Get attention and create awareness
The AAA five Diamond award is an example of a _________ to a customer when making a purchase decision.
Light-blocking curtains in a hotel would be an ____________ to a customer when making a purchase decision.
A danger with having multiple brands position as individual companies is
the brands cannibalize each other.
Hospitality companies develop multiple brands to
grow their brands and to segment their markets
Image and promised benefit are criteria for ___________.
Results of hospitality companies utilizing branding in their product offering
higher RevPar, higher revenue, spread out costs among properties
Meets quality standards, is synergistic with the other brands in a company's portfolio, has a consistent identity
determinant attributes actually __________ customers to make a choice
Selling the sizzle of a steak
Problems with cost-percentage pricing
makes high cost items expensive to most customers, ignores the customer's perception of value for the price paid, is completely based on costs
Value based pricing
optimal pricing strategy to use for most hospitality products
the cost of beef is a variable cost
price is important to marketers
force for attracting attention and creating sales, has an effect on customer loyalty, is the revenue producing part of the marketing mix
ways to change price
change quality of goods and services, change the form of payment, change the time and place of payment
use price bundling to hide the cost of each part of the trip
basic element that revenue management depends on
Value based pricing includes____________________.
a customer's perceived value of the product and forces mangers to keep in touch with the needs and preferences of the customer
hotel offers a New Year's Eve package for couples at a more expensive rate
"leaving money on the table"
refers to businesses that price their products less than the reservation price
Skim strategy for pricing works best when__________.
customer are not price sensitive
The main goal of match pricing is
to offer the same price as a direct competitor
Penetration pricing works for Southwest Airlines because they have
a lower cost structure
Revenue management is suitable for the hotel industry because a hotel has a
fixed number of rooms and the product is perishable
Most hospitality organization are the retailers of the _________ as well as the _________.
Products and manufacturers
Global Distribution System
methods of getting the product to the consumer, corporate travel departments, convention meeting planner organizations.
Hotwire and Priceline are beneficial to hotelier because they can
protect their own brands
Leading Hotels of the World can be an example of a
representation firm that does marketing and sales for a group independent hotel
Franchising _____________ the geographic presence of the brand and _________ revenue for the company and the brand
Private label service is an example of
an outsources CRS
_______________ is a soft brand that is a rep firm and its own independent brand as well
Leading Hotles of the World
Merchant model of online channels
hotels sell online distribution channels rooms a net rate and mark them up to a certain percentage. This is a different system than the agency model. Hotel websites become direct competitors to the online distribution channel
Corporate marketing office takes responsibility for
distribution channel management at the hotel chain wide level
Tracking customer clicks and typical navigation on a hotel's website can be sued to ______ the hotel's product more efficiently.
Challenges for online distribution in China
most customers have domestic bank debit cards, Chinese tend to question the reliability of online info
to evaluate a channel of distribution, a hostility manger should perform a break
Two audiences that hospitality websites should be designed for
potential client and search engines
Hospitality website design
guarantee of the best price on the internet, security of the transaction is conveyed, online reservation feature is prominent
Onward distribution of hotel rooms refers to passion on of a ___________ from one distributor to other distributors
prospecting occurs before
qualifying sales leads
sales promotions used to
questions with yes or no answers
company's positioning statement affects the _______ of the company
individual and multiple property establishments
explains how you are different from the competition
product's brea even price
divide fixed costs by the product's profit margin
To share online distribution marketing in the hospitality marketing budget is _____________ from year to year
Example of new challenge with online distribution systems is
Keywords help with a hotel website's
search engine placement
helps create customer awareness
a company must understand its _______ before positioning is built
is not based upon customer perceptions
Return per Available Customer in a hotel would include
Property taxes for a hotel are
The higher the star rating of the hotel, the more ______ and ______ the hotel's website should be
involved and descriptive
usual franchise for amor hospitality company is around ______ of sales, plus marketing and reservation fees
is heavily used in the restaurant industry
group of people who are alike in some way
Sales promotion is used to
increase awareness, product value, and revenue
are used to reach a goal
segmenting a market based on age is an example of
segmentation comes before
franchisee operates a
franchisor is the _______ company for a franchise
Marketer uses _____ features to subjectively position tangible features
about customer perceptions of your product
YOU MIGHT ALSO LIKE...
Marketing Exam 2
Ch. 8-10 - Marketing w/ Dr. Martin (TIU)
Mkt 340 exam2 summers
BSAD Martinez 325 Final Sathya version
OTHER SETS BY THIS CREATOR
Exam 3 Service Management
Accounting Exam 1 Terms