MIDTERM - PART 2

Question 1

is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need. It may include physical objects, services, places, organizations, and ideas.

Answer 1

PRODUCT

Question 2

is a good (tangible) or a service (intangible) that is offered to the customer to meet a requirement or satisfy a need.

Answer 2

PRODUCT`

Question 3

it’s what differentiates itself from other similar products in the market. It also creates customer recall and loyalty.

Answer 3

BRANDING

Question 4

is a conglomeration of various products and services, individuals and organizations, each with specific economic an/or political interests.

Answer 4

TOURISM INDUSTRY

Question 5

Include industry associations which have been established to protect special interest groups, such as travel agency associations (e.g. Philippine Travel Agency Association and PHILTOA), financial services (e.g. credit card companies), academe, media, and insurance companies.

Answer 5

PRIVATE AND NON-PROFIT SECTORS

Question 6

Cover either national, regional, or provincial tourism organizations. They come up with marketing programs to promote their destinations to both intermediaries and individual tourists. The Department of Tourism and provincial tourism offices fall under this category.

Answer 6

PUBLIC SECTOR SERVICES

Question 7

crucial to the success of tourism. Without an efficient transport system and road networks, tourists would not be encouraged to come to destinations that have lengthy, tiresome, and costly travel. This industry includes airlines, cruises, buses, and railways.

Answer 7

TRANSPORTATION INDUSTRY

Question 8

covers a huge part of a tourist’s expenditure during travel.

Answer 8

ACCOMMODATION SECTOR

Question 9

Restaurants, bars, food stalls, and coffee shops help shape the total travel experience of tourists. These can range from establishments serving local food to multinational franchise such as McDonalds and Starbucks.

Answer 9

F&B SECTOR

Question 10

basic requirement in having a successful tourist destination. These can be classified as natural or man-made. Tourists are drawn to attractions for various reasons such as entertainment, leisure, and recreation, education, adventure, etc.

Answer 10

ATTRACTIONS

Question 11

play a key role in attracting both leisure and business travelers to a destination. Huge sporting events such as the Olympics and World Cup attract tourists from all over the world either as participants or spectators in the event. Festivals such as the Sinulog Festival in Cebu and Panagbenga Festival in Baguio are able to attract thousand of tourists, both local and foreign.

Answer 11

EVENTS AND CONFERENCES

Question 12

Help bring the tourism product to the customer. These are also known as channels of distribution.

Answer 12

TRAVEL INTERMEDIARIES

Question 13

include travel agents, tour operators, web-based distributors, etc. They normally offer travel packages that make the experience less complicated to the tourists. These packages include transportation (both inbound and inland), accommodation, food, city tours, etc.

Answer 13

TRAVEL INTERMEDIARIES

Question 14

The center of tourism industry.

Answer 14

TOURISTS

Question 15

These are items that can be physically touched and seen like food, clothing, vehicles, and others.

Answer 15

TANGIBLE PRODUCTS

Question 16

These are items that may not be present physically but can still be used or felt indirectly. Examples are insurance policies, online items like software, and music and video files.

Answer 16

INTANGIBLE PRODUCTS

Question 17

can be considered as intangible, it’s the result of an activity that is not owned by the customer.

Answer 17

SERVICES

Question 18

is a collection of attractions, which is the element of the tourism product that pulls people. These are what the visitors want to see.

Answer 18

DESTINATION ATTRACTIONS

Question 19

A wide range of tourist facilities within the destination will help the tourist enjoy the destination attractions. These include accommodation facilities (hotels, inns, and apartelles), transportation (taxi, and rent-a-car), food and beverage (restaurants and bars), shopping centers, and many other support facilities.

Answer 19

DESTINATION FACILITIES

Question 20

For a tourist product to be highly successful, infrastructure services (airports, roads, bridges, etc.) and transportation systems (direct flights of airplanes, trains, buses, etc.) should be put in place.

Answer 20

ACCESSIBILITY

Question 21

Central to the product is its ______. Destination ______ helps the visitor from expectations of what they will experience. It also motivates them to make a decision to visit the said destination.

Answer 21

IMAGE

Question 22

is an important component of the tourist product. It allows consumers to determine the level of services they may receive in the destination.

Answer 22

PRICE

Question 23

are products that the consumers is really buying.

Answer 23

CORE PRODUCTS

Question 24

are goods and services that must be present for the guest to enjoy and use the core product.

Answer 24

FACILITATION PRODUCTS

Question 25

add value to the core product and help differentiate it from its competitors. If properly planned, they offer the product's competitive advantage.

Answer 25

SUPPORTING PRODUCTS

Question 26

are factors that help the consumer consider the product over other products because these include product accessibility, geographical location, operating hours, atmosphere, customer satisfaction, and customer interaction with each other.

Answer 26

AUGMENTED PRODUCTS

Question 27

hotel room

Answer 27

CORE PRODUCT

Question 28

check-in and check-out service

Answer 28

FACILITATING PRODUCTS

Question 29

business center and room service

Answer 29

SUPPORTING PRODUCTS

Question 30

interaction with service providers and other customers.

Answer 30

AUGMENTED PRODUCTS

Question 31

refers to how available the product is to the consumer, in terms of location, hours of operation, and ease of availing the products and services.

Answer 31

ACCESSIBILITY

Question 32

is the overall feel of the place. This is much appreciated through the five senses. The product or service should be appealing to the eye, soft to the ears, gentle to the touch, and smelling sweetly. Another term for this is the ambiance of the place.

Answer 32

ATMOSPHERE

Question 33

is inevitable for the tourism product. Consumption happens within the destination. Hence, customer interaction with service staff should be pleasant and memorable.

Answer 33

CUSTOMER INTERACTION WITH THE SERVICE SYSTEM

Question 34

refers to the length of time a product is introduced to consumers into the market until it's removed from the shelves.

Answer 34

PRODUCT LIFE CYCLE

Question 35

The life cycle of a product is broken into four stages:

Answer 35

INTRODUCTION GROWTH MATURITY DECLINE

Question 36

In tourism and hospitality, product life cycle can be referred to in _____ levels.

Answer 36

TWO

Question 37

is the period wherein the product is introduced to the market. It may be a period of rapid or slow sales growth depending on market acceptability of the new product.

Answer 37

INTRODUCTION

Question 38

profits may be non-existent on this stage since investments have been made during the product development stage.

Answer 38

INTRODUCTION

Question 39

is a period of rapid market acceptance and increasing profits. As the product becomes popular with its target market, an increase in sales is projected at this stage. Return on investments will materialize at this stage of the product life cycle

Answer 39

GROWTH STAGE

Question 40

is a period where sales plateau because the product has achieved acceptance by most of its potential buyers.

Answer 40

MATURITY STAGE

Question 41

The company may introduce innovation to the product in order to attract a related segment of the market and increase consumption further.

Answer 41

MARKET MODIFICATION

Question 42

The company can opt to change product characteristics such as product quality, features, and style to attract new users and stimulate more usage.

Answer 42

PRODUCT MODIFICATION

Question 43

This is when the company attempts to improve sales by changing one or more of the marketing mix elements to attract new customers and prevent consumers from switching brands.

Answer 43

MARKETING MIX MODIFICATION

Question 44

Some successful products stay in the business for a long period of time. By employing product modification, market modification, and marketing mix modifications, some products stay in the market to avoid ____

Answer 44

DECLINE

Question 45

is the period when sales fall off quickly and profits drop.

Answer 45

DECLINE STAGE

Question 46

This is the stage when the production or the product or availability of the service will be shut down or deleted from the company's product line.

Answer 46

PHASE OUT

Question 47

Butler (1980) developed a concept popularly known as the __________ which uses the product life cycle as its foundation.

Answer 47

Destination Life Cycle (DLC)

Question 48

provides a framework for the marketing and management of destinations as it develops over the time

Answer 48

DLC

Question 49

characterized by a few adventurous tourists, close interaction with locals, minimal effect on social, cultural, and physical environments, and local facilities are used.

Answer 49

EXPLORATION

Question 50

characterized by an increase in tourist arrivals, interaction with locals still high, some changes in social, cultural, and physical environment. Infrastructure development begins.

Answer 50

INVOLVEMENT

Question 51

tourist arrivals are fast increasing, loss of local control, rise of foreign owned facilities, migrant laborers, and promotion of artificial attractions.

Answer 51

DEVELOPMENT

Question 52

tourism has become a major economic factor. There is heavy advertising and promotions. Facilities begin to deteriorate, and growth rates decline.

Answer 52

CONSOLIDATION

Question 53

when the carrying capacity of the destination has been reached or exceeded. It is also characterized by social, environmental, and economic problems. Inflow of tourists comes from repeat visits and conventions.

Answer 53

STAGNATION

Question 54

characterized by a downward rate of tourist arrivals.

Answer 54

DECLINE

Question 55

begins with an idea of a new product that could possibly satisfy an existing need or want in a specific market.

Answer 55

PRODUCT DEVELOPMENT STAGE

Question 56

is an integral part of the success of any business.

Answer 56

PRODUCT DEVELOPMENT

Question 57

can come up with a new and innovative product that may affect the sales of your existing product. The market always tries to find exciting new products for their changing lifestyles and trends.

Answer 57

COMPETITION

Question 58

is a systematic way coming up with new ideas. Sources of new product ideas include the external environment, internal sources, customers, competitors, distributors and suppliers and other sources.

Answer 58

IDEA GENERATION

Question 59

refers to the awareness of what happens in the real world.

Answer 59

EXTERNAL ENVIRONMENT

Question 60

can be a good source of new product ideas.

Answer 60

BRAINSTORMING

Question 61

leaves you with so many new ideas that need to be screened to see which one match the company's objectives and can be developed further.

Answer 61

IDEA GENERATION

Question 62

A new product committee can screen the ideas generated in a logical and objective manner.

Answer 62

IDEA SCREENING

Question 63

The products that pass through the screening can now be developed further. A product concept is developed and tested. The customers should be consulted on which product concepts are actually helpful to them because they are the primary users of the product. Successful products are usually those that address specific needs and issues of the end users.

Answer 63

Concept Development and Testing

Question 64

A new product or service is developed to try to gain a marketing edge and to differentiate itself from competitors.

Answer 64

Marketing Strategy

Question 65

looks more deeply into how much revenue the product could generate, what the cost will be, how much market share the product may achieve and the expected life of the product

Answer 65

BUSINESS ANALYSIS

Question 66

When the concept has been developed, when marketing seems to be feasible and the product financially viable, a _______ of the product is created. The ______ is then presented to its target market for comments on which adjustments and enhancements should be done.

Answer 66

PROTOTYPE CREATION

Question 67

The product is then launched in small geographical area to test the comments of the marketing mix. There may be a need to adjust any of the marketing mix components before it is launched in a larger scope.

Answer 67

TEST MARKETING

Question 68

This is when the product is fully launched to the entire target market either nationally or internationally. It is expected that the stages of the new product development, if fully observed, can merit market acceptance of the product

Answer 68

COMMERCIALIZATION

Question 69

This is the stage wherein the company will know whether the product has gained market acceptance, hence, if production will be continued or be stopped.

Answer 69

EVALUATION