C14 Marketing Foodservice

Question 1

American Marketing Association

Answer 1

the professional association for those interested in the marketing discipline.

Question 2

Marketing

Answer 2

An organizational function & set of processes for creating, communicating & delivering value to customers & for managing customer relations in ways that benefit the organization & its stakeholders.

Question 3

Marketing concept

Answer 3

The way an organization views its customers, and the sale of its products.

Question 4

Five categories of marketing concepts:

Answer 4

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

Question 5

Manufacturing/production concept

Answer 5

A marketing concept that focuses on production & distribution efficiency. Based on the belief that customers favor products that are available and highly affordable.

Question 6

Product concept

Answer 6

A marketing concept based on belief that customers want products & product forms that exist already. Focus is on producing the best product.

Question 7

Selling concept

Answer 7

A marketing concept with focus on selling and promotion. Belief is that with out it the customer won’t buy enough of the product.

Question 8

Marketing concept

Answer 8

A marketing concept in which organization attempt to deliver product more effectively & efficiently than competitors. The needs of the target audience must be assessed.

Question 9

Societal marketing concept

Answer 9

A marketing concept that focus on delivering a target markets desired satisfactive in the most effective & efficient way while trying to improve society’s and the consumer’s well-being.

Question 10

Marketing

Answer 10

The process of profiling what customers want or need and then developing and providing products and services that meet the profile.

Question 11

effectiveness

Answer 11

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

Question 12

efficiency

Answer 12

the minimization of resources that an organization must spend to achieve a specific level of desired exchanges.

Question 13

marketing strategy

Answer 13

pertains to the selection & analysis of a group of people, identified as a target market, which the organization wants to reach. Includes the creation & maintenance of an appropriate marketing mix that will satisfy those people.

Question 14

marketing mix

Answer 14

Combination of product, price, place, and promotion to satisfy target market.

Question 15

target market

Answer 15

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

Question 16

product

Answer 16

Can be a good, service, of idea.

Question 17

new product

Answer 17

A genuine innovation because it has not been served commercially.

Question 18

new to the chain

Answer 18

Are products that an imitation of another successful product.

Question 19

promotion

Answer 19

Use of communication to inform and influence consumers. Used to increase public awareness about a product.

Question 20

place

Answer 20

Refers to the location where a good or service is offered.

Question 21

marketing environment

Answer 21

surrounds the buyer and the marketing mix. Things that Influences ability to facilitate & expedite change, and influences customer’s preferences and needs for products.

Question 22

market segmentation

Answer 22

The process of dividing a total market into groups of people with similar needs, wants, values, and buying behaviors. Are four categories: geographic, demographic, psychographic, behavioristic

Question 23

geographic variables

Answer 23

Category of market segmentation. Include climate, terrain, population density, subcultural values that influence customer preference

Question 24

demographic variables

Answer 24

Category of market segmentation. Population characteristics that might influence preference: age, gender, race, etc.

Question 25

psychographic variables

Answer 25

Category of market segmentation. Motives & lifestyle characteristics. Motive - reason a consumer makes a purchase. Lifestyle - what is important to them and their mode of living.

Question 26

Values & Life-styles (VALS)

Answer 26

Research program, seeks to predict customer behavior by defining segments, based on resources and primary motivation.

Question 27

behavioristic variables

Answer 27

Category of market segmentation. Consumer behavior toward and use of a product. ex. purchase volume, readiness, loyalty, shopping behavior.

Question 28

customer relationship management

Answer 28

practice involves using a computerized data base to store information about a customer.

Question 29

Niche marketing

Answer 29

focuses on small, profitable segments of the market.

Question 30

micromarketing

Answer 30

marketing to the single customer, the smallest niche.

Question 31

social media marketing

Answer 31

Internet marketing that focuses on marketing through social media networks.

Question 32

brand

Answer 32

any feature that identifies one seller’s good or service as distinct from those of other sellers.

Question 33

brand equity

Answer 33

Value of a brand. Based on customer perception of the brand and their experience with it.

Question 34

service

Answer 34

an act of performance that one can offer to another, is intangible & does not result in the ownership of anything. Is given immediately and can not be remade. Are produced at the time they are consumed.

Question 35

intangibility of services

Answer 35

Inability of services to be seen, touched, tasted, smelled, or possessed before buying.

Question 36

atmospherics

Answer 36

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

Question 37

Inseparability

Answer 37

Inability to separate production and service. A service is consumed simultaneously with its production.

Question 38

Perishability of services

Answer 38

Services cannot be stored for future sale.

Question 39

heterogeneity of service

Answer 39

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

Question 40

mission statement

Answer 40

A summation of the organizations’s purpose, competition, target market, product, and service and of the recipients of the service, including customers, employees, owners, and the community.

Question 41

strategic business units (SBUs)

Answer 41

Is a separate component of the business with its own market segment. Must have a strategy consistent with that of the corporation, its own mission, and own competitors.

Question 42

marketing objective

Answer 42

Is a statement of what is to be accomplished through marketing activities. Each SBU needs to set its own objectives. ex dollar sales, % profit growth.

Question 43

situation analysis

Answer 43

Identification of marketing opportunities and challenges confronting an organization.

Question 44

marketing strategy

Answer 44

The selection and analysis of a target market, and maintenance of an appropriate marketing mix that will satisfy that market. A strategy should be as specific as possible.

Question 45

marketing research

Answer 45

links the consumer, customer, & public to the marketer through information used to identify & define marketing opportunities & problems. Improves performance in and understanding of the market.

Question 46

marketing research process

Answer 46

Problem definition, data collection, data analysis, recommendations, report preparation.

Question 47

marketing plan

Answer 47

Written document or blueprint governing an organization’s marketing activities.

Question 48

marketing planning

Answer 48

Is a systematic processes involving assesment of marketing opportunities & resources, determining marketing objectives, development of a marketing strategy, and planning for implementation and control.

Question 49

sales analysis

Answer 49

Used to evaluate the actual performance of marketing strategies. Is the detailed study of sales data, either volume, or market share.