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Marketing Defined

Marketing Defined. Chapter 1. Six Marketing Fundamentals. 1. Satisfaction of customers’ needs and wants The primary focus of marketing is satisfying customers’ needs and customers’ wants 2. Continuous nature of marketing

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Marketing Defined

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  1. Marketing Defined Chapter 1

  2. Six Marketing Fundamentals • 1. Satisfaction of customers’ needs and wants • The primary focus of marketing is satisfying customers’ needs and customers’ wants • 2. Continuous nature of marketing • Marketing is a continuous management activity, not a one-time set of decisions • 3. Sequential steps in marketing • Effective marketing is a process of following a set of sequential steps • 4. Key role of marketing research • Using marketing research to anticipate and identify customer needs and wants is essential for effective marketing.

  3. Continued • 5. Interdependence of hospitality and travel organizations • There are many opportunities for partnerships in marketing among organizations in our industry • 6. Organization-wide and multi-department effort • Marketing is not the sole responsibility of one department or division. To be most effective, it requires the efforts of all departments or divisions.

  4. Marketing Definition • Marketing is a continuous, sequential process through which management in the hospitality and travel industry plans, researches, implements, controls, and evaluates activities designed to satisfy both customers’ needs and wants and their own organization’s objectives. To be most effective, marketing requires the efforts of everyone in an organization and can be made more or less effective by the actions of complementary organizations.

  5. Tourism Defined • Tourism is a complex of interrelated businesses that serve the traveling public, in one way or another.

  6. Marketing (Customer) Orientation • Customer needs are a first priority • Ongoing marketing research is a very high priority • Knowing customer perceptions of the organization • Analysis of strengths and weaknesses relative to competitors • Long-term planning is fully appreciated • Adapted to market changes • Inter-organization changes • Partnership with related organizations • Measurement and evaluation of marketing activities

  7. The 8 P’s of Marketing • 1. Product • 2. Place • 3. Promotion • 4. Price • 5. People • 6. Packaging • 7. Programming • 8. Partnership Traditional four Hospitality and Travel four

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