HFT4502 Marketing Test 2

The Buyer Decision Process

Need Recognition → Information Search → Evaluation of Alternatives → Purchase Decision → Postpurchase Behavior

False. Postpurchase behavior

T or F: Purchase is the final stage of the Buyer Decision Process.

buyer's remorse

cognitive dissonance

"business mix

combination of consumer groups

MICE

Meetings

Incentives

Conventions

Exhibitions

SMERF

Social

Military

Educational

Religious

Fraternal

What are the 3 steps to Target Marketing?

1) Segmentation

2) Targeting

3) Positioning

Market Segmentation

dividing a market into direct groups of buyers who might require separate products or marketing mixes

Market Targeting (textbook definition)

evaluating each market segment's attractiveness and selecting one or more segments to enter

Market Positioning (textbook definition)

formulating competitive positioning for a product and a detailed marketing mix

What are the 4 segmentation variables?

demographic

geographic

psychographic

behavioral

What is the demographic segmentation variable?

anything that is easily measurable or readily identifiable (apparent)

geographic segmentation variable

point of origin

psychographic segmentation

immeasurable - existing in the "black box", anything that is psychological

What is the behavioral segmentation variable?

customers specific tendencies and usage patterns

Product

anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need

What are the 4 product levels (product contribution)?

Core products

Facilitating products

Supporting products

Augmented products

Core Products

answer the question "What is the buyer really buying?"

Facilitating Products

services or goods that must be present for the guest to use the core product

What are Supporting Products?

extra products offered to add value to the core product and/or aid in differentiation

What are Augmented Products?

elements of the product combine with the previous products to provide the overall product

Product Life Cycle

Development

Introduction

Growth

Maturity

Decline

Nielson Claritas

Marketing Research Agency (MRA)

What does AMC stand for?

Association Management Company

core product for hospitality

Experiences

Internal Marketing (textbook definition)

use of marketing principles to motivate employees to provide good service

Internal Marketing (notes definition)

marketing by a service firm to train and motivate its employees to work as a team that provides customer satisfaction

What is the objective of internal marketing?

enable employees to deliver satisfying products to the guests

3 types of service culture

Organizational structure

Service culture

Weak culture

Organizational Culture

the pattern of shared values and beliefs that gives members of an organization meaning, providing them with rules of behavior

Service Culture

a culture that supports customer service through policies, reward systems, and actions

Weak Culture

no common values

Nonroutine Transactions

a unique guest transaction experience by an employee for the first time

Emotional Labor

the involvement of a service provider's emotions in delivering the product