Question

Refer to the scenario below to answer the following question(s).

Carol Veldt, owner of Seagull Terrace, watched her investment grow from a small, seaside motel to a thriving year- round resort in just a few years. Atop a cliff overlooking the Maine coast, Seagull Terrace had attracted thousands of visitors during summer, but then faced a tremendous downturn in business during winter. "But, given the established industries in the nearby towns, very little year- round competition, and our close proximity to Portland," Carol added, "I couldn't understand why seasonality had to hit Seagull Terrace so hard!"

So Carol spent her first winter devising a new marketing plan. She put together a promotional package designed to attract business travelers year- round. Carol's plan also involved a seasonal promotional gimmick to be implemented from early winter to late spring that would attract the same numbers as the large summer crowd. Her idea worked! During her second winter, Carol greeted numerous business travelers both satisfied repeat guests as well as new guests who had been snagged by her promotional appeals.

"We still have a long way to go," Carol admitted. "Our delicatessen offers entrees that are a part of the local cuisine, but we'd like to expand that. We provide health club privileges off- site, but we'd like to eventually provide our own. These are goals I hope to achieve in a few years. Our first project, however, included a renovation of our guest rooms and I'm quite proud of the results." Carol then added, "Actually there are so many possibilities. With an indoor pool area, I will eventually offer weekend getaways throughout winter."

23. Carol Veldt has decided to ask selected guests to participate in an extensive survey about their experience at Seagull Terrace and about their requirements in terms of amenities and cuisines. By implementing the suggestions, she receives from guests, Carol would be following the ________ concept.
    1. marketing
    2. product

23. 3. societal marketing
    4. selling
    5. production
24. Which of the following is true with regard to a market segment?             
    1. Dividing the market into segments decreases the efficiency of the selling process.
    2. Very few markets have segments.
    3. A market segment consists of consumers with dissimilar needs and preferences.
    4. Dividing the market into segments reduces composite demand.
    5. A market segment consists of consumers who respond in a similar way to a given set of marketing efforts.
25. Which is NOT part of the company environment that influences marketing decisions?

A) manufacturing

2. engineering
3. retailers
4. accounting
5. sales

Answer 1

Question 1. By implementing the suggestions, she receives from guests, Carol would be following the ________ concept.

Answer 1. Marketing

Reason: Marketing is the process of meeting and satisfying the customer needs. Marketing consists of all those activities that are associated with product planning, pricing, promoting and distributing the product or service And in our case, Carol is taking suggestions from its customers so as to improve and satisfy its customers' needs.

Question 2. Which of the following is true with regard to a market segment?            

Answer 2. A market segment consists of consumers who respond in a similar way to a given set of marketing efforts.

Reason:

A market segment is a group of people who share one or more common characteristics, lumped together for marketing purposes. Thus, they also respond to the same marketing efforts.

Question 3 Which is NOT part of the company environment that influences marketing decisions?

Answer 3. Retailers

Reason: Marketing decisions are taken keeping in mind the consumers and the internal processes of the company, which does not include retailers.