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Tourism Marketing > Second exam > Flashcards

Second exam Flashcards

1
Q

Reference groups

A
  • membership groups: direct influence and to which a person belongs
  • aspirationals: groups an individual wishes to belong
  • reference groups: groups that form a comparison or reference in forming attitudes or behavior
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2
Q

Perception

A
  • selective attention: tendency to screen out most of the information to which they are exposed. People are more likely to notice stimuli that relate to a current need
  • selective retention: remember good points made about a brand they favor
  • selective distortion: interpret information in a way that will support what they already believe
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3
Q

Buyer decision process

A
  1. Need recognition
  2. Information search
  3. Evaluation of alternatives
  4. Purchase decision
  5. Post-purchase behavior
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4
Q

Buying decision behavior

A
  • complex: highly involved and significant differences among brands
  • dissonance reducing: highly involved but little difference among brands
  • habitual: low-consumer involvement and little significant brand difference (market leader)
  • variety seeking: low consumer involvement but significant brand difference (challenger firms)
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5
Q

Buyer decision process for new products

A
  • innovators
  • early adopters
  • early mainstreamer
  • late mainstreamer
  • lagging adopters
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6
Q

Major types of buy situation

A
  • straight rebuy
  • modified rebuy
  • new task
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7
Q

Participants in the business buying process

A
  • users
  • influencers
  • deciders
  • purchasers
  • gatekeepers
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8
Q

Buyphases

A
  1. Problem recognition
  2. Need description
  3. product specification
  4. supplier search
  5. proposal solicitation
  6. supplier selection
  7. order routine specifications
  8. performance review
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9
Q

Marketing research

A
  1. proper defining the problem and research objectives
  2. developing a research plan for collecting information
  3. implementing research plan
  4. interpreting and reporting the findings
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10
Q

Types of research

A
  • qualitative
  • quantitative
  • primary
  • secondary (lower cost but data may not be relevant)
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11
Q

Sampling plan (probability)

A
  • Simple random sample: equal chance of selection
  • Stratified random: mutually exclusive groups and random samples are drawn from each group
  • Cluster sample: mutually exclusive groups and the researcher draws a sample
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12
Q

Sampling plan (non probability sample)

A
  • Convenience sample: easiest population members
  • Judgement sample: the researcher select population members
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13
Q

STP strategy

A

Identifiying and engaging the right customer segments

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14
Q

Select customers to serve

A

Through segmentation and targeting

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15
Q

Value proposition

A

Through differentiation and positioning

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16
Q

Market segmentation

A

It requires dividing the market into smaller segments with distinct needs and characteristics. It can be geographic, demographic, psychographic, behavioral

17
Q

Requirements for effective segmentation

A
  • Measurable
  • Accessible
  • substantial
  • differentialble
  • actionable
18
Q

Target market

A

Set of buyers who share common needs or characteristics that the company decides to serve

19
Q

Marketing targeting strategies

A
  • mass marketing: focuses on common needs rather than what’s different (eg apples)
  • segmented marketing: targets several different market segments and designs separate offers for each (eg shampoo)
  • niche marketing: target a large share of one smaller segment (eg clothes for pregnant women)
  • micromarketing: tailoring products to suit the tastes of specific individuals
20
Q

Positioning strategy

A
  1. Identifying competitive advantages: offering consumers greater value
  2. Selecting competitive advantages
  3. Effectively communicate chosen position
21
Q

Positioning statement

A

To (target segment) our (brand) is (concept) that (point of difference)

22
Q

Positioning map

A

It shows the consumer’s perceptions of marketers’ brands

23
Q

Consumer product classification

A
  • convenience: minimum comparison and buying effort
  • shopping: customers carefully compares
  • specialty: unique characteristics
  • unsought: not something that consumers think about
24
Q

Core product vs actual product

A

Core product: the product itself

Actual product: all the attributes that come with it

25
Q

Brand positioning

A
  • attributes
  • benefits
  • beliefs and values
26
Q

Brand sponsorship

A
  • manufacturer’s / national brand: eg cocacola
  • store / private brand: found in specific stores, they don’t do promotions (eg hacendado)
  • licensed brands: h&m using disney on their clothes
  • co-brands: two brands of different companies are used on the same product
27
Q

Brand development

A
  • line extentions
  • brand extentions
  • multibrands
  • new brands
28
Q

Product life cycle

A
  1. Product development stage
  2. Introduction
  3. Growth
  4. Maturity
  5. Decline
29
Q

Price

A

It can be:
cost based pricing:
- fixed costs: do not vary with production or sales level
- variable costs: vary with the level of production

value based pricing: the price is estimated following what the consumers are willing to pay for a product

30
Q

Place (distribution)

A
  • supply chain: includes firms’ raw materials, productive inputs, and factory capacity
  • value chain: includes company, suppliers, distributors, consumers
31
Q

Types of distribution

A
  • Intensive distribution: penetrate every retail
  • exclusive distribution: only available in some retailers
  • selective distribution: companies select retailers that are more suitable to their consumers
32
Q

Promotion

A
  • advertising: pay form of nonpersonal presentation and promotion of products
  • personal selling: personal interaction by the firm’s sales force
  • sales promotion: short-term incentive to encourage the purchase
  • public relations: creating good relationships with the company’s publics
  • direct and digital marketing
33
Q

New communications thinking

A
  • owned: content we control and create
  • shared: content created by consumers, NO control over it
  • paid: we can partially control it
  • earned: feedback we earn, NO control over it
34
Q

Geographic segmentation

A

It divides the market into different geographical units such as:
nations
regions
states
countries
cities
neighborhoods

e.g. McDonald’s has different menus for each country

35
Q

Demographic segmentation

A

Divides the market into segments based on variables such as
- age → age and life-cycle stage segmentation divide a market into different age and lifecycle groups (e.g. Amazon targeted a younger tablet market for using the Kindle Fire tablet, introducing FreeTime Unlimited, a multimedia subscription service targeted toward 3- to 8-year-olds)
- life-cycle stage
- gender → gender segmentation divides a market into different segments based on gender (e.g. L’Oréal Men’s Expert, P&G, Nivea, clothes)
- income → income segmentation divides a market into different income segments. E.g. Dollar Tree (low- and middle-income groups)
- occupation
- education
- religion
- ethnicity
- generation

36
Q

Psychographic segmentation

A

Divides a market into different segments based on:
- social class
- lifestyle → e.g. W Hotels, iconic lifestyle brand inviting guests to step inside the worlds of design, music, and fashion
- personality → e.g. Coca-Cola Zero targets more mature, practical, good-humored personalities: “Real Coca-Cola taste and zero calories”
- characteristics

37
Q

Behavioral segmentation

A

Divides a market into segments based on consumer knowledge, attitudes, uses of a product, or responses to a product:

occasions → occasions refer to when consumers get the idea to buy (e.g. Knorr advertises its soups more heavily in the cold winter months)
Holiday occasions or nontraditional occasions.

benefits sought → e.g. Schwinn makes bikes for every benefit segment. For example, Schwinn’s urban bikes are “for riders who want a functional, durable, and stylish bike to commute or ride casually in urban areas.”

user status (nonusers, ex-users, potential users, first-time users, and regular users of a product) → Marketers want to reinforce and retain regular users and attract targeted nonusers. E.g. Potential users (those facing life-stage changes), upscale kitchen retailer works, and contacts couples through the bridal registry.

usage rate (light, medium, and heavy product users) → heavy users are often a small percentage of the market but account for a high percentage of total consumption (e.g. a recent study showed that heavy seafood consumers in the United States are a small but hungry bunch. Less than 5% of all shoppers buy nearly 64% of unbreaded seafood consumed in the United States.)

loyalty status → buyers can be divided into groups according to their degree of loyalty:
some consumers are completely loyal, somewhat loyal, or other buyers show no loyalty to any brand

Tourism Marketing (2 decks)

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