Chapter 14 - Marketing Foodservice

Question 1

Marketing

Answer 1

an organizational function and a set of processes for creating, communicating, and delivering value to customers and for managing customer relationships in ways that benefit the organization and its stakeholders.

Question 2

Exchange

Answer 2

Products are traded for other products or money.

Question 3

Marketing concept

Answer 3

A management philosophy about how an organization views customers and the sale of their product.

Question 4

Product

Answer 4

a good, service, or idea.

Question 5

Marketing philosophies

Answer 5

• Manufacturing/ production concept
• Product concept
• Selling concept
• Marketing concept
• Societal marketing concept

Question 6

Manufacturing/ production concept

Answer 6

Customers favor products that are available and highly affordable.

Question 7

Product concept

Answer 7

Customers prefer existing products and product forms.

Question 8

Selling concept

Answer 8

Customers will not buy enough of the organization’s products unless the organization undertakes a large selling and promotion effort.

Question 9

Marketing concept

Answer 9

Organizations should determine the needs and wants of target markets and deliver desired satisfaction more effectively and efficiently than competitors.

Question 10

Societal marketing concept

Answer 10

Organizations should determine needs and wants of target markets and deliver desired satisfaction more effectively and efficiently than competitors in a way that maintains or improves the consumer’s and society’s well-being.

Question 11

Customer satisfaction

Answer 11

Positive, neutral, or negative feelings about the value received from a product

Question 12

Customer loyalty

Answer 12

Frequency with which a customer consistently purchases a specific brand.

Question 13

Marketing management

Answer 13

a process of planning, organizing, implementing and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently.

Question 14

Effectiveness

Answer 14

The degree to which an exchange helps to achieve an organization’s objectives.

Question 15

Efficiency

Answer 15

The minimization of resources that an organization must spend to achieve a specific level of desire exchanges.

Question 16

Marketing Mix

Answer 16

Specific combination or marketing elements used to achieve an organization’s objectives and satisfy the target market.

Question 17

Marketing Mix Variables

Answer 17

Product, price, place, promotion and other factors over which an organization has control.

Question 18

Target market

Answer 18

Customers with common characteristics for which an organization creates products/ services.

Question 19

Promotion

Answer 19

Use of communication to inform and influence consumers.

Question 20

Market segmentation

Answer 20

Division of total market into groups of customers who have similar needs, wants, values, and buying behaviours.

Question 21

Customer relationship management

Answer 21

Using computerized database to store purchasing and other point of contact information about a customer.

Question 22

Niche Marketing

Answer 22

Focuses on identifying small but profitable segments of the market and making products specifically for this segment.

Question 23

Micromarketing

Answer 23

Marketing to the single customer, the smallest niche.

Question 24

Branding

Answer 24

Name, term, design, symbol, or feature that identifies one seller’s good or service as different from another’s.

Question 25

Brand loyalty

Answer 25

Repeated customer purchase of a specific brand.

Question 26

Brand equity

Answer 26

Value of a brand.

Question 27

Service

Answer 27

Any act or performance that one party can offer to another that is essentially intangible and does not result in the ownership of anything.

Question 28

Intangibility

Answer 28

What services are not, they cannot be seen, touched, tasted, smelled, or possessed.

Question 29

Atmospherics

Answer 29

Physical elements in an operation's design that appeal to customers' emotions.

Question 30

Inseparability

Answer 30

Inability to separate production and service. Ex. Waitstaff providing service while customers are consuming the product.

Question 31

Perishability of services

Answer 31

Services cannot be stored for future sale.

Question 32

Heterogeneity of service

Answer 32

Variation and lack of uniformity in the performance by different service employees.

Question 33

Strategic Marketing

Answer 33

The selection and analysis of a target market and the creation and maintenance of an appropriate marketing mix.

Question 34

Strategic Planning Process

Answer 34

- Define the organizational mission. - Establish strategic business units. - Set marketing objectives. - Perform a situation analysis. - Develop a marketing strategy. - Implement tactical plans. - Monitor results.

Question 35

Mission Statement

Answer 35

summation of the organization's purpose, competition, target market, product, and service and of the recipient of the service, including consumers, employees, owners, and the community.

Question 36

Strategic business units

Answer 36

Has a specific market focus and a manager with responsibility for placing all functions into a strategy.

Question 37

Marketing objective

Answer 37

a statement of what is to be accomplished through marketing activities..

Question 38

Situation Analysis

Answer 38

Identification of marketing opportunities and challenges.

Question 39

SWOT analysis

Answer 39

Focuses on identifying the Strengths, weaknesses, opportunities, and threats.

Question 40

Marketing Strategy

Answer 40

Selecting and analyzing a target market and creating and maintaining an appropriate marketing mix that will satisfy that market.

Question 41

Marketing research

Answer 41

the function that links consumer, customer, and public to the marketer through information that is used to identify and define marketing opportunities and problems.

Question 42

Marketing plan

Answer 42

written document or blueprint governing an organization's marketing activities.

Question 43

Marketing planning

Answer 43

a systemic process involving the assessment of marketing opportunities and resources, the determination or marketing objectives, the development of a marketing strategy and planning for implementation and control.