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Food Systems 1 Exam #4 (Final) > Chapter 14: Marketing Foodservice > Flashcards

Chapter 14: Marketing Foodservice Flashcards

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1
Q

Customer Satisfaction

A

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

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2
Q

Customer Loyalty

A

Frequency with which a customer consistently purchases a specific brand.

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3
Q

Marketing Mix

A

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

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4
Q

Target Market

A

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

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5
Q

Promotion

A

Use of communication to inform and influence consumers. It is used to increase public awareness about a new product or brand; also, it is used to renew interest in a product that is waning in popularity.

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6
Q

Market Segmentation

A

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

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7
Q

Psychographic Variables

A

Motives and lifestyle characteristics.

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8
Q

Brand

A

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

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9
Q

Brand Loyalty

A

Repeated customer purchase of a specific brand.

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10
Q

Brand Equity

A

Value of a brand.

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11
Q

Intangibility of Services

A

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

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12
Q

Atmospherics

A

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

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13
Q

Inseparability

A

Inability to separate production and service.

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14
Q

Perishability of Services

A

Services cannot be stored for future sale.

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15
Q

Heterogeneity of Service

A

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

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16
Q

Situation Analysis

A

Identification of marketing opportunities and challenges.

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17
Q

Tactic

A

Specific action.

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18
Q

Marketing Plan

A

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

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19
Q

Market Share

A

Percentage of industry sales for a product.

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20
Q

Marketing Concept

A

A management philosophy about how an organization views customers and the sale of their product. In marketing terms, a product is a good, service, or idea.

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21
Q

The 5 Marketing Philosophies

A
  1. Manufacturing/Production Concept
  2. Product Concept
  3. Selling Concept
  4. Marketing Concept
  5. Societal Marketing Concept
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22
Q

Manufacturing/Production Concept

A

Based on the belief that customers favor products that are available and highly affordable; thus, companies should focus on production and distribution efficiency.

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23
Q

Product Concept

A

Based on the belief that customers prefer existing products and product forms; thus, companies should develop good versions of these products.

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24
Q

Selling Concept

A

Based on the belief that customers will not buy enough of the organization’s product unless the organization undertakes a large selling and promotion effort.

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25
Q

Marketing Concept

A

Based on the belief that organizations should determine the needs and wants of target markets and deliver desired satisfaction more effectively and efficiently than competitors.

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26
Q

Societal Marketing Concept

A

Based on the belief that 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.

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27
Q

Marketing

A

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.

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28
Q

Marketing Management

A

A process of planning, organizing, implementing, and controlling marketing activities to facilitate and expedite exchanges effectively and efficiently. Marketing managers are responsible for developing and managing marketing strategies.

29
Q

Effectiveness

A

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

30
Q

Efficiency

A

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

31
Q

Marketing Strategy

A

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

32
Q

Marketing Mix Variables

A
  1. Product
  2. Price
  3. Place
  4. Promotion
33
Q

Product

A

A good, service, or idea that is sold to the customer. Research on customer needs and product design is a part of marketing.

34
Q

New Product

A

A genuine innovation that has not been served commercially.

35
Q

New to the Chain

A

Products that are new to one chain but are really an imitation of a successful product offered by another chain.

36
Q

Price

A

The amount of money charged for a product. Often used as a competitive tool.

37
Q

Place

A

In marketing, refers to the location where food or services are offered.

38
Q

Political Forces

A

Influence the country’s economic and political stability and decision making, which in turn affects domestic matters, negotiation of trade agreements, and determination of foreign policy.

39
Q

Legal Forces

A

Responsible for legislation and interpretation of laws. Marketing is controlled by numerous laws designed to preserve competition and protect the consumer; interpretation of laws by the marketers and courts has a great effect on marketing mix components.

40
Q

Local, State, and Federal Regulatory Forces

A

Develop and enforce regulations that can affect marketing decisions. Regulatory agencies, especially at the federal level, encourage industries to develop guidelines to stop questionable practices.

41
Q

Societal Forces

A

Cause marketers to be responsible for decisions. Thousands of consumer groups have been formed to discuss such issues as environmental pollution and the use of pesticides on fruit and vegetable crops.

42
Q

Economic Forces

A

Have a major influence on competition, which is affected by the number of industries controlling the supply of a product, the ease by which a new operation can enter the industry, and the demand for the product relative to the supply.

43
Q

Technological Forces

A

Have an impact on everyday living, influencing consumers’ desires for products and the stability of the marketing mix. The technologies of communication, transportation, computers, and packaging influence the types of products being produced.

44
Q

Market Segment

A

A mixture of individuals, groups, or organizations that share one or more characteristics, which causes them to have similar product needs.

45
Q

Segmentation Variables

A
  1. Geographic
  2. Demographic
  3. Psychographic
  4. Behavioristic
46
Q

Geographic Variables

A

Climate, terrain, natural resources, population density, and subcultural values that influence customer product needs. In addition, the size of the region, city, county, or state and whether the area is urban, suburban, or rural have an effect on the market.

47
Q

Demographic Variables

A

Population characteristics that might influence product selection, such as age, sex, race, income, education, occupation, family size, family life cycle, religion, social class, and price sensitivity.

48
Q

Behavioristic Variables

A

Market segmentation by customer’s attitudes and needs for a product. Include variables such as purchase volume, purchase readiness, loyalty, and shopping behavior.

49
Q

Characteristics of Services

A
  1. Intangibility
  2. Inseparability
  3. Perishability
  4. Heterogeneity
50
Q

Marketing Research

A

Systemic gathering, recording, and analyzing of data about problems relating to the marketing of goods and services. It is the function that links the consumer, customer, and public to the marketer through information that is used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.

51
Q

Marketing Research Process

A
  1. Problem definition
  2. Data collection
  3. Data analysis
  4. Recommendations
  5. Report Preparation
52
Q

Complaint Solicitation

A

Proactively gathering complaints from consumers; typically involves employees and managers documenting complaints and routinely tabulating and reviewing causes of the complaints.

53
Q

Critical Incident Studies

A

Using qualitative interviews in which customers provide verbatim stories (positive and negative) about their experiences with the company.

54
Q

Requirements Reseach

A

Using surveys, structured brainstorming, and extensive literature reviews to determine the benefits and attributes that customers expect in a service.

55
Q

Relationship and Service Quality Surveys

A

Using structured surveys that are collected on a routine basis to evaluate a customer’s relationship with the company and identify aspects needing performance improvement.

56
Q

Trailer Calls or Posttransaction Surveys

A

Gather customer assessments (via phone call, computer-based, or paper questionnaire) of the service encounter immediately following the encounter.

57
Q

Service Expectation Meetings

A

Holding meetings with customers to determine their expectations.

58
Q

Process Checkpoint Evaluations

A

Gathering customer feedback during the service encounter process to allow for corrective action before the service encounter is completed.

59
Q

Market-Oriented Ethnography

A

Observing consumption behavior in natural settings, often via videotaping.

60
Q

Mystery Shopping

A

Hiring an outside firm to experience the service as a customer and evaluate the encounter using a pre-established questionnaire.

61
Q

Customer Panels

A

Using groups of current customers to provide attitudes and perceptions about a service over time.

62
Q

Lost Customer Research

A

Seeking out former customers and discussing in detail their reasons for leaving.

63
Q

Marketing Planning

A

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

64
Q

Strategic Planning Process

A
  1. Define the organizational mission
  2. Establish strategic business units
  3. Set marketing objectives
  4. Perform a situation analysis
  5. Develop a marketing strategy
  6. Implement tactical plans
  7. Monitor results
65
Q

Mission Statement

A

Summation of the purpose of the organization, competition, target market, product and service, and recipients of the service including customers, employees, owners, and the community; differentiates it from others.

66
Q

Strategic Business Units

A

Division, product-line, or product department that sells specific products or services to a target market and competes against other businesses in that market.

67
Q

Marketing Objective

A

Statement of what is to be accomplished through marketing activities.

68
Q

SWOT Analysis

A

Analysis focusing on identifying the Strengths, Weaknesses, Opportunities, and Threats to an organization.

Food Systems 1 Exam #4 (Final) (4 decks)

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