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A single business or collection of related businesses that can be planned separately from the rest of the company.
What are strategic business units (SBUs)?
One classification of customer profitability, where this group is profitable but not loyal.
What are butterflies?
This marketing management orientation states that consumers will favour products the offer the most in quality, performance, and innovative features.
What is the product concept?
To satisfy customers who encounter a service problem, service companies should encourage customers to complain (and make it easy for them to do so), respond quickly and personally, and develop a problem-resolution system.
What is recovery?
This demographic segment of the Canadian population includes about 10 million people born between the 2nd World War and the mid-1960s.
Who are the baby boomers?
Relationships between independent parties that agree to cooperate but still retain separate identities.
What are Strategic alliances?
Research used when marketers they want to determine if a change in one thing is responsible for a change in something else.
What is causal?
Perceived service quality depends heavily on the quality of the buyer–seller interaction during the service encounter.
What is interactive marketing?
A country with a ___________________ economy consumes most of its own agricultural and industrial outputs and offers few market opportunities.
What is subsistence?
A growth strategy where firms offer modified or new products to its current market.
What is product development?
All of the groups within a company are called the ________.
What is internal environment?
The tendency of people to interpret information in a way that will support what they already believe.
What is Selective distortion?
Group of products that are closely related because they function in a similar manner, and are sold to the same customer groups.
What is product line?
This type of research is most suited for descriptive information.
What is survey research?
The process of dividing a market into distinct groups of buyers who have different needs, characteristics, or behavior who might require separate products or marketing programs.
What is market segmentation?
Firms that help the company to promote, sell, and distribute its goods to final buyers; they include middlemen, physical distribution firms, marketing service agencies, and financial intermediaries
What are marketing intermediaries?
If you manage a 200-room hotel, and only sell 150 rooms tonight, you can't stockpile the extra 50 rooms to sell tomorrow. This is a problem with the ________ of services
What is Perishability?
First step in designing a customer-driven marketing strategy.
What is "understand the marketplace and customer needs and wants"?
This public includes neighborhood residents and community organizations.
What is local?
The stages through which families might pass as they mature.
What is Family life cycle?
Ways a hospitality company can differentiate itself. (5)
What are: physical attributes, service, personnel, location, or image?
The final step in the marketing process is ________.
What is "capturing value from customers"?
Service quality depends on when, where, and how they are provided.
What is variability?
Social class is what type of segmentation variable?
What is psychographic?
A nonprobability sample in which the researcher uses his or her evaluation techniques to select population members who are good prospects for accurate information.
What is judgment sample?