601. The potential market of a 4* hotel in Barcelona is composed by:
A. The hotel’s actual customers and its competitors’ customers who are willing to come back
B. The hotel’s actual and past customers who have been satisfied with their experience
C. The hotel’s actual customers and any consumer looking for a very similar or same offer
D. The hotel’s actual customers, its competitors’ customers and the definite non-consumers
E. Essentially customers who visited this hotel and other hotels of the same categories in destinations in Europe.
602. What entry mode has Starbucks used to enter the coffee capsule market when developing the new capsule brand Verismo?
A. Market Development
B. Internal Venture
C. Strategic Alliance
D. Acquisition
E. Product Development
603. Defining the business model and marketplace of a hotel unit is fundamental before starting the marketing planning process because
A. It gives a clear idea of what the existing supply is in the market
B. It allows to identify potential demand for the hotel unit
C. It provides a clear marketing strategy
D. It allows to identify marketing mix activities
E. It clarifies customer needs and wants
F. a) and b)
604. An important key success factor for a Palace hotel in Paris is
A. A particular location
B. A Michelin-starred restaurant
C. A good concierge service
D. A swimming pool
E. High quality furniture
F. All of the above
605. According to Kotler, an attractive target market for a business needs to be as followed:
A. Measurable, specific, attractive, important
B. Profitable, sustainable, unique, realistic
C. Specific, social, economic, structured
D. Realistic, accessible, significant, measurable
E. Accessible, actionable, measurable, substantial
F. None of the above is correct
606. Which is the right sequence within the marketing planning process?
A. SWOT → Macro environmental analysis → Micro environmental analysis, including competitor analysis → Marketing Objectives
B. SWOT → Marketing Objectives → Internal Analysis → Positioning
C. Business and Market definition → Macro environmental analysis → Marketing Objectives → SWOT
D. Segmentation → Marketing Objectives → Positioning → Marketing Mix
E. Marketing Objectives → SWOT → Positioning → Segmentation → Target Marketing
F. Business and Market definition → Macro environmental analysis → Micro environmental analysis, including competitor analysis → SWOT
607. Luxury hotels which hire a celebrity chef to promote their restaurant adopt the following branding strategy:
A. Brand extension
B. Line extension
C. Co-branding
D. Individual brand for each product line
E. New brand
F. None of the above is correct
608. The marketing objective « Increase revenue by 3% until the end of 2014 » does not correspond to the following SMART criteria:
A. A
B. M
C. T
D. R
E. S
F. It corresponds to all SMART criteria.
609. The competitive forces by Michael Porter talk about high substitute products in a market when:
A. Customers have many choices
B. Customers are very price sensitive
C. Competition is very intense
D. Switching costs are high for customers
E. a) and c)
F. None of the above is correct
610. Complete the following sentence: A brand______________
A. Requires a daily management and regular change in consumer perception with the help of the marketing mix
B. Helps to differentiate a product or a service from other offers within the same market
C. Plays a key role for the customer using it as a reference point
D. Offers success and a competitive advantage in the market
E. c) and d)
F. b) and c)