Ch.14 Marketing Food Service

Question 1

define marketing

Answer 1

activities that facilitate satisfying customers through creation, distribution, promotion and pricing of goods, services, and ideas efficiently

Question 2

what is the first step of the marketing process?

Answer 2

1. understand marketplace and customer wants and needs

Question 3

what is the 2nd step of the marketing process?

Answer 3

2. design customer driven marketing strategy

Question 4

what is the 3rd step of the marketing process?

Answer 4

3. construct integrated marketing program that delivers superior value

Question 5

what is the 4th step of the marketing process?

Answer 5

4. build profitable relationships and create customer delight

Question 6

what is the 5th step of the marketing process?

Answer 6

capture value from customers to create profits and customer equity

Question 7

define marketing concept

Answer 7

how an org. views customers and sale of their product

Question 8

what is a product?

Answer 8

good, service, or idea

Question 9

what are the 5 concepts of marketing philosophies?

Answer 9

production, product, selling, marketing, societal marketing

Question 10

what is the production concept?

Answer 10

customers favour products that are available and affordable

Question 11

what is the product concept?

Answer 11

customers prefer products that offer most quality, performance, and innovative features

Question 12

what is a selling concept?

Answer 12

customers will not buy enough product unless large selling and promotion effort

Question 13

what is the marketing concept?

Answer 13

org. should find out needs and wants of target markets and give the ppl what they want better than the competitors
Eg. Shawn Mendes song: treat u better

Question 14

what is the societal marketing concept?

Answer 14

marketing concept in a way that maintains or improves consumer and society well being

Question 15

successful marketers have an understanding of:

Answer 15

• customer satisfaction
• customer loyalty

Question 16

what is the best way to earn profit?

Answer 16

by serving the customer better

Question 17

define marketing mgmt

Answer 17

planning, organizing, implementing, controlling marketing activities to facilitate and expedite exchanges effectively and efficiently

Question 18

define marketing objective

Answer 18

facilitate highly desirable exchanges (effectiveness) and minimize cost of doing so (efficiency)

Question 19

define marketing strategy

Answer 19

selection & analysis of group of ppl, identified as target market, which org. wants to reach;
must be developed to achieve marketing objective

Question 20

define marketing mix

Answer 20

combo of product, price, place, promotion to satisfy target market

Question 21

which types of variables can affect marketing environment?

Answer 21

political forces
regulatory
competitive
economic
legal
societal
technological

Question 22

what is price?

Answer 22

amount of money charged for product; only part of marketing mix that produces revenue

Question 23

what is promotion? give examples

Answer 23

increases public awareness about a new product or brand
eg. sales promo, personal selling, pr, direct marketing, ads

Question 24

Define place (4p’s)

Answer 24

location wehre products and/or services are offered

Question 25

define market segmentation

Answer 25

division of total market into groups of customers who have similar needs, wants, values, and buying behaviour

Question 26

what are the 4 categories of variables for segmenting a market?

Answer 26

-georghraphical - demographic -psychographic - behaviouristic

Question 27

define psychographic variables

Answer 27

motives (why customer buys), lifestyle (what is important to them) characteristics

Question 28

what should global market segmentation involve?

Answer 28

macro (country) and micro (individual) segmentation

Question 29

what are 2 newer strategies for marketing segmentation?

Answer 29

1. niche marketing 2. micromarketing

Question 30

what is niche marketing?

Answer 30

marketing focused on products for small but profitable segments of market

Question 31

what is micromarketing?

Answer 31

marketing focused on the single customer, the smallest niche

Question 32

what is branding?

Answer 32

name, term, design/logo, symbol, feature that identifies one seller's good of service as diff from another's

Question 33

what is brand loyalty?

Answer 33

repeated customer purchase of a specific brand

Question 34

what is brand equity?

Answer 34

value of a brand, has 5 components: - brand loyalty & awareness - perceived quality - brand associations - proprietary assets

Question 35

what is a service?

Answer 35

any act/performance that one party can offer another; intangible and does not result in ownership of anything

Question 36

define intangibility

Answer 36

defined in terms of what services are not; cannot be seen, touched, tasted, smelled, possessed

Question 37

define inseparability

Answer 37

inability to separate production and service (esp. for food service)

Question 38

define perishability

Answer 38

cannot be stored for future sale

Question 39

define heterogeneity

Answer 39

variation and lack of uniformity in performance by difference service employees

Question 40

define strategic marketing

Answer 40

selection and analysis of target market and creation and maintenance of appropriate marketing mix

Question 41

what are the steps of strat. planning process?

Answer 41

1. define org. mission 2. estab. stat. business unit 3. set marketing objectives 4. perform situational analysis 5. develop market. strat. 6. implement tactical plans 7. monitor results

Question 42

define market research

Answer 42

systematic gathering, recording, analysis of data about problems relating to marketing of goods/services

Question 43

what is the marketing research process?

Answer 43

define problem, collect data, analyze data, recommendations, report prep

Question 44

define marketing plan

Answer 44

written doc and blueprint governing org. marketing activities

Question 45

what is the bottom up approach?

Answer 45

info from employees is used to establish objectives, budgets, forecasts, timetables and marketing mixes

Question 46

What is the top-down approach?

Answer 46

top mgmt directs and controls planning activities

Question 47

what does a well integrated marketing plan include?

Answer 47

- stability over time - coordination of marketing mix - coordination of SBUs - compatible short, med, long range plans - long-term competitive advantagesj

Question 48

where is control necessary in food service?

Answer 48

in all facets of org.

Question 49

what is used for control?

Answer 49

- internal standards (profits, sales, costs) - external standards (via consulting services)

Question 50

what does an effective market research program include?

Answer 50

-quant and qual research - expectations and perceptions of customers - statistical validity - occurs with appropriate freq. - balance cost of research and value of info - Measures priorities

Question 51

How to implement marketing?

Answer 51

-establish information system to determine customers' real needs - use info to develop products that satisfy them - Restructure org. to coordinate all activities

Question 52

who is involved in marketing?

Answer 52

produers, sellers, buyers

Question 53

When can exchange occur?

Answer 53

only when two or more individuals/org. are willing to give up something of value