Chap 4

Question 1

_____ _______ __ __. (_____) defined marketing as “ the process by which companies create value for customers and build strong relationships in order to capture value from the customers in return’’.

Answer 1

Philip Kotler et al (2017)

Question 2

In an earlier definition, _____(_____) defines marketing as a social process where individuals and groups obtain what the need and want through creating and exchaging product and value with others.

Answer 2

Kotler (2002)

Question 3

______, ________, and _______ (____) define marketing as the art and science of “ finding, retaining and growing profitable customer

Answer 3

Kotler, bowens, & makens (2010)

Question 4

The _________ ________ (____) approve a new defination: _______ is the activity, set of institutions, and process for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at

Answer 4

American Association (2013)

Marketing

Question 5

management process where destinations, products, and services are designed, promoted, and distributed to meet the needs and wants of prospective tourists.

Answer 5

Tourism marketing

Question 6

Enables the organization to compile an updated set of information about its customers, competitors, and the oragnization’s capability and effectiveness.

Answer 6

Marketing information system

Question 7

This involves an analysis of the marketing environment in ralation to the potetials of one’s business

Answer 7

Marketing planning

Question 8

This step ensures that practical and elastic tactical campaigns are conducted in support of the comprehensive marketing strategy.

Answer 8

Planning the tactical Campaigns

Question 9

This process involves the challenging part of implementing the plan strategic and tactical campaigns by coordinating with all stakeholdes, finetunning the marketing mix as they unfold, and ensuring that activities are conducted as planned

Answer 9

Marketing operations

Question 10

This involves the ongoing process of evaluating sales data and financial performance versus marketing activities conducted.

Answer 10

Monitoring and control

Question 11

entails gathering of information about customers to better serve their needs and improve desicion-making.

Answer 11

Marketing information management

Question 12

involves planning to ensure that the resources are available to maintain and improve business.

Answer 12

Financing

Question 13

ensures that the value and cost of goods and services offered to customers will be the level that the customers are willing to pay.

Answer 13

Pricing

Question 14

prepares the various promotional strategies that will enable the products to be introduced and sold to the customers.

Answer 14

Promotion

Question 15

involves designing, developing, maintaining, improving, and acquiring product and services to meet the needs of the customers.

Answer 15

Product/Services Management

Question 16

involves bringing the products and services to the customers in the best way possible.

Answer 16

Distribution

Question 17

is the ultimate measure of marketing sucess. Strategies on following up the sale, closing the sale, and making a repeat sale are crucial tasks of marketing.

Answer 17

Selling

Question 18

is what the company is offering to satisfy a consumer’s want to need

Answer 18

Product or service

Question 19

the value that the seller puts on the product or service

Answer 19

Price

Question 20

is that means by which the product or service reaches the consumer.

Answer 20

Place

Question 21

the strategic plan by which customers are informed about the product or service and its value.

Answer 21

Promotion

Question 22

What is the 4 tourism marketing mix?

Answer 22

1. Product/Service
2. Price
3. Place
4. Promotion

Question 23

It is targeting, and positioning are key terms useful in any marketing process.

Answer 23

Market segmentation

Question 24

A ______ is a set of actual and potential buyers of a product.
The tourism industry aims to target a specific set of individuals. It is a particular set of buyers, a niche market.

Answer 24

Market

Question 25

The three steps to target marketing;

Answer 25

•Market segmentation •market targeting •market positioning

Question 26

According to ______ ___ ___ (______) Market segmentation is dividing the market into distinct groups that might require seperate products and/or marketing mixes (wants or desires, socioeconomic status, age, travel behavior, etc.).

Answer 26

Kotler et al (2017)

Question 27

According to ____ (____) A market segment is the sub group of the total consumer market that shares similar characteristics and needs a relevant to the purchase of a product, service or experience

Answer 27

Hsu (2008)

Question 28

______(____) Identified six characteristics of a segment

Answer 28

Lumsdon (1997)

Question 29

The six characteristics of a market segment by lumsdon 1997

Answer 29

1. Identifiable 2. Cohensive 3. Measurable 4. Accessible 5. Substantial 6. Actionable

Question 30

The people who compromise the segment can be located and identified such that targeting them would be easy. (The 6 Market segment)

Answer 30

Identifiable

Question 31

The consumers should be part of a whole specific qualities are common to all. (6market seg)

Answer 31

Cohensive

Question 32

The marketer should be able to estemate the size and potential spending of the members of the market segment (6market segment)

Answer 32

Measurable

Question 33

The members of the segment should be accessible by the marketing efforts and promotional activities to be conducted. (6market seg)

Answer 33

Accessible

Question 34

Segments should be large in order to be substantial. (6market segment)

Answer 34

Substantial

Question 35

The company has enough resources and commitment to enable effective penetration of identified segment to ensure effective positioning (6market segment)

Answer 35

Actionable

Question 36

5 VARIABLES FOR MARKET SEGMENTATION

Answer 36

1. Geographic Segmentation 2. Demographic Segmentation 3. Psychographic Segmentation 4. Behavioral Segmentation 5. Technographic Segmentation

Question 37

the oldest and simplest basis of segmentation (Cook et al.2017). (5 variables for market segment)

Answer 37

Geographic segmentation

Question 38

the basis most used for market segmentation (Cook et al. 2018) (5 variables for market segmentation)

Answer 38

Demographic Segmentation

Question 39

also called lifestyle segmentation was develop by marketing researchers trying to link personality to a product. (5 variables for market seg)

Answer 39

Psychographic Segmentation

Question 40

refers to dividing groups based on their knowlege, attitude, and use of or response to a product or services. (5 variables for market seg) •Special occassion •Usage rate •Loyalty status

Answer 40

Behavioral Segmentation

Question 41

With the prevelence of the Internet and the World Wide Web, there is an increasing divide between the users and non-users of technology in searching for travel information. (5 variables for market seg)

Answer 41

Technographic Segmentation