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Chapter 1. Marketing Defined. Definition of Marketing. Marketing is a continuous, sequential process through which management in the hospitality and travel industry plans, researches, implements, controls, and
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Chapter 1 Marketing Defined
Definition of Marketing 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
The PRICE of Marketing • P: planning • R: research • I: implementation • C: control • E: evaluation
Evolutionary Eras of Marketing in Nonservice Industries • Product-orientation era • Sales-orientation era • Marketing-orientation era • Societal-marketing era • Online-marketing era
Figure 1.1 The evolution of marketing in nonservice industries. (Adapted from Perreault, William D., and E. Jerome McCarthy, Essentials of Marketing: A Global Managerial Approach, 10th ed. Reproduced with permission of The McGraw-Hill Companies.)
Figure 1.6 Characteristics of a marketing-oriented organization.
The Hospitality and Travel Marketing Environment • Marketing Strategy Factors (controllable) • Marketing EnvironmentFactors • (uncontrollable)
Marketing Strategy Factors • Traditional 4 Ps of Marketing • – Product; Place; Promotion; Price • Additional 4 Ps of Hospitality and Travel Marketing • – People; Packaging; Programming; Partnership
Traditional 4 Ps of Marketing Product Place Promotion Price Additional 4 Ps of Hospitality and Travel Marketing People Packaging Programming Partnership Figure 1.10 Marketing strategy factors.
Marketing Environment Factors • Competitors • Laws and Government Regulations • Economy • Technology • Society and Culture • Organizational Priorities and Goals