LONG QUIZ HRM 107

IDENTIFICATION (1pt. each)

1. Have the power to prevent the sellers or information from reaching members of the buying center.
2. They often initiate the buying proposal and help define product specifications.
3. They often help define specifications and provide information for evaluating alternatives.
4. May also help shape the product specification and play a major role in selecting the vendors and negotiating.
5. Authorize the proposed action of decides or buyers.
6. Select the product requirements and suppliers
7. Includes all members of the organization who play any of six roles in the purchase decision process.
8. This once again is a way of saying that the hotel has a variety of room prices for different segments of the market.
9. The reason for taking more reservations than having rooms available.
10. Simply a way that the reservations department and the front office manager constantly monitor the length of the stay of
various people who book rooms and at the same time monitor the types of room that they book.
11. The key to effective yield management.
12. Emphasizes the achievement of high rates on high demand days and high occupancy when demand is low.
13. The set of all actual and potential buyers of a product.
14. It is the place that the product occupies in consumer’s minds relative to competing products.
15. Degree to which effective programs can be designed for attracting and serving segments
16. This is especially appealing to companies with limited resources.
17. The degree to which segments are large or profitable enough to serve the markets.
18. This is the degree to which the segment’s size and purchasing power can be measured
19. The firm ignores market segmentation differences and goes after the entire market with one market offer.
20. The firm targets several market segments and designs separate offers to each.
21. Markets can also be segmented into light, medium, and heavy users groups.
22. Many marketers may be segmented into nonusers, former users, potential users, first time users and regular users of the
product.
23. The buyers are divided into groups based on their knowledge, attitude, use or response to product.
24. Provides organizations with systems for determining the best way to channel money and effort onto successful sales.
25. Refers to the personal characteristics of people-factors such as their sex, age, ethnicity, occupation, and family size.
26. This provides insights to the attitudes and personal values of the market.
27. The company identifies different ways to segment the market and develops profiles of the resulting market segments.
28. This analyzes markets in terms of location.
29. Developing a competitive positioning for the product and an appropriate marketing mix.
30. Evaluating each segment’s attractiveness and selecting one or more of the market segments.

ENUMERATION (1pt. each)

1. Questions to be determined by the salesperson.
2. Roles in the purchase decision process.
3. Factors when undertaking forecasting.
4. Bases for segmentation
5. Approaches in segmentation
6. Market segment strategies
7. Positioning strategies
8. Steps in target marketing
9. Elements of yield management

ESSAY (20 pts.)

1. Determine and elaborate the two main objectives of yield management.

BONUS
1. Draw the Organizational Structure of Rooms Division.