True/False
Indicate whether the sentence or statement is true or
false.
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1.
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Four
Seasons Hotels positioning strategy is to simply raise their prices when competitors come near
them.
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2.
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The
term “marketing plan” is used to describe a plan with a horizon of two years or
less.
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3.
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A
marketing plan does not include an examination of the resources required; these are covered in the
financial plan.
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4.
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A
“cash cow” has high market growth rate and high relative market share.
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5.
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A SWOT
analysis is externally focussed in order to provide an organization with information about the
outside business environment.
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Multiple Choice
Identify the letter of the choice that best
completes the statement or answers the question.
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1.
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A
“strategic marketing plan” a. | is a stand-alone tool. | b. | includes mission and vision
statements. | c. | covers short-term
objectives. | d. | is a detailed
working document that marketers need to refer to regularly. | | |
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2.
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“Goals” and “objectives”, although often misunderstood, are
in fact different concepts. Which of the following statements is true? a. | Objectives flow from goals. | b. | Goals are derived from
objectives. | c. | Objectives include
such concerns as sales growth and market leadership. | d. | Objectives can be defined as the primary aims of an
organization. | | |
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3.
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The
challenges of strategic and marketing planning for hotels in particular are amplified
by a. | the fact that many chains do not own all the
properties that they manage. | b. | absentee owners in particular may show little interest in
long-term planning. | c. | international strategic
alliances. | d. | All of the
above. | | |
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4.
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The
“Boston Consulting Group” model for portfolio analysis a. | is most useful for firms with a very limited product
line. | b. | allows a manager
to apply segmentation analysis to two or more products. | c. | plots various goods and services against relative market
share and market growth rate. | d. | is among the most useful forecasting tools available to a
manager. | | |
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5.
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Market
concentration, such as the concentration of Canada’s international tourism market in the United
States, a. | translates into
both security and vulnerability at the same time. | b. | reduces marketing costs due to the economies achieved by
niche marketing. | c. | means that Canada does not need to spend money marketing to
European or Asian countries. | d. | helps to boost domestic tourism. | | |
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6.
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What
strategy did Four Seasons Hotels and Resorts adopt to deal with competition? a. | low-cost leadership | b. | differentiation | c. | direct | d. | focus | | |
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7.
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Vision
and mission statements, respectively answer the questions: a. | How do our customers perceive us? How can we satisfy our
customers? | b. | What do we want to
be? What business are we in? | c. | Where do we want to be 5, 10 years from now? How do
we get there? | d. | What business are
we in? What do we need to do to grow? | | |
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8.
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Competitor analysis a. | divides competitors into two categories of
‘direct’ and ‘indirect’. | b. | is only concerned with existing
competition. | c. | is a useful
management tool except for the fact that it fails to consider suppliers. | d. | examines number and type of competitors, their relative
market shares, and what they do well and badly. | | |
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9.
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According to Porter, the three generic strategies for dealing with competition
are: a. | increased advertising, stronger promotions,
improved positioning. | b. | low-cost leadership, differentiation,
focus. | c. | positioning,
advertising, pricing. | d. | segmentation, competitive advantage, marketing
focus. | | |
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10.
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Segmentation analysis is the practice of dividing total markets up into subgroups
which have similar characteristics. Which of the following is true of this
practice? a. | The most common
segmentation criteria in hospitality and tourism are: demographic, psychographic, geographic,
benefit, and behaviour. | b. | When done well, segmentation analysis can help to select
the media most likely to be read, heard, or seen by the target consumers. | c. | Segmentation analysis is commonly done in tourism by
“trip descriptors” (e.g. short haul), and “tourist descriptors” (e.g. grey
panthers). | d. | All of the above
are true. | | |
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11.
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The
most important area of the marketing plan is the selection of target markets. Which of the following
statements is also true? a. | If inappropriate markets are selected, marketing resources
will be wasted. | b. | Increased expenditures on advertising can make up for weak
targeting. | c. | Good targeting is
derived from a list of currently served and proven markets. | d. | A target market is defined primarily by its
accessibility. | | |
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12.
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A &
W Restaurants of Canada is confident about their growth in the 2010s primarily
because a. | they know that
they make the best burgers in Canada. | b. | they are diversifying their menu to include healthy
choices. | c. | they have
increased their marketing budget substantially. | d. | the evolving demographics are working in their
favour. | | |
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Matching
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a. | Boston Consulting Group
model | i. | niche marketing. | b. | branding | j. | portfolio analysis | c. | competitor analysis | k. | positioning | d. | differentiation | l. | product differentiation | e. | executive summary | m. | segmentation analysis | f. | focus | n. | strategic marketing plan | g. | general competitors | o. | SWOT analysis | h. | mission statement | p. | unique selling proposition (USP) | | | | |
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1.
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a
written plan for an organization, covering a period of three or more years into the
future
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2.
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a few
pages, usually positioned at the beginning of the marketing plan, that sum up the plan’s main
sections
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3.
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a brief
simple phrase or sentence that summarizes the organization’s direction and communicates its
ethos to internal and external audiences. It also answers the question, “What business are we
in?”
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4.
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an
approach to evaluating a very diverse group of goods and services, based on long-term planning and
economic forecasts
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5.
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a
technique designed to show the performance of an individual product in relation to its major
competitors and the rate of growth in its market
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6.
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a
review of competitors that allows the organization to identify and highlight the market trends and
the level of loyalty of consumers
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7.
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companies that provide the same service
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8.
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a
strategy that consists of an innovative technological breakthrough, which can take competitors a long
time to imitate. A competitive advantage can be gained by a product that is newer, better, and/or
faster
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9.
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a
strategy that concentrates on designing a good or service to meet the needs of one segment of the
market better than the competition does
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10.
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the
practice of dividing total markets up into subgroups which have similar characteristics
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11.
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the
tailoring of products to meet the needs and wants of narrowly defined geographic, demographic, or
psychographic segments
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12.
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a
technique that provides scope for an organization to list all its strengths (those things it
does best and its positive product features) and its weaknesses (problems that affect its
success); an acronym for strengths, weaknesses, opportunities, and threats.
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13.
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establishing an image for a product or service in relation to others in the
marketplace
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14.
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a
technique that enables organizations to seek to gain competitive advantage by offering a product that
has features not available in the offerings of competitors
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15.
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a
feature of a product that is so unique that it distinguishes the product from all other
products
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16.
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the
provision of a name or image to a product to assist its positioning in the
marketplace
Answers:
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