Marketing Fundamentals: Understanding Customer Needs
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Questions and Answers

What is the primary goal of marketing in the hospitality and travel industry?

  • To maximize profits
  • To reduce competition
  • To satisfy both customers' needs and wants and the organization's objectives (correct)
  • To create brand awareness

    • Which of the following is NOT a component of the PRICE of marketing?

  • Feedback (correct)
  • Planning
  • Research
  • Implementation

    • What is the primary focus of market orientation?

  • Creating brand awareness
  • Satisfying customers' needs and wants (correct)
  • Maximizing profits
  • Meeting organizational objectives

    • What is the role of research in marketing?

    <p>To understand customer needs and wants</p> Signup and view all the answers

    What is the final step in the PRICE of marketing?

    <p>Evaluation</p> Signup and view all the answers

    What is the primary goal of customer relationship management?

    <p>To retain existing customers</p> Signup and view all the answers

    What is the process of identifying and selecting target markets called?

    <p>Market segmentation</p> Signup and view all the answers

    What is the primary focus of marketing strategy development?

    <p>Developing marketing plans</p> Signup and view all the answers

    What is the role of control in the PRICE of marketing?

    <p>To monitor and adjust marketing activities</p> Signup and view all the answers

    What is the primary goal of customer needs analysis?

    <p>To identify customer needs and wants</p> Signup and view all the answers

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