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Basic Marketing Concepts

Basic Marketing Concepts. Unit Essential Question. What is Hospitality Marketing?. Essential Question 1. What functions are involved in the marketing process?. Marketing is.

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Basic Marketing Concepts

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  1. Basic Marketing Concepts

  2. Unit Essential Question What is Hospitality Marketing?

  3. Essential Question 1 What functions are involved in the marketing process?

  4. Marketing is. . . • The process of developing, promoting, and distributing products in order to satisfy customers needs and wants as well as the company involved. • Products • Goods • Services

  5. The Marketing Mix • Product • Place • Price 5 P’s of Marketing • Promotion • People

  6. Functions of Marketing • Marketing Information Management • Gathering, recording, analyzing, and disseminating information to aid in making marketing decisions.

  7. Functions of Marketing • Financing • Determining the need for and availability of financial resources to aid in marketing activities and stay in business.

  8. Functions of Marketing • Pricing • The determination of an exchange price at which the buyer and seller perceive optimum value for a good or service.

  9. Functions of Marketing • Promotion • Communicates information about products, services, images, or ideas to customers or clients to influence their purchase behavior.

  10. Functions of Marketing • Product/Service Management • The process of creating a product in response to market opportunities. • Managing marketing activities to optimize the relationships of potential loss to gain.

  11. Functions of Marketing • Distribution • The physical movement of a good or service. • Deciding where and to what extent to sell a good or service.

  12. Functions of Marketing • Selling • Responding to consumers needs and wants through planned, personalized communications intended to influence purchase decisions.

  13. Essential Question 2 What competitive techniques are used in hotel marketing?

  14. Target Marketing Target Marketing • Focuses all marketing decisions on the specific group of people who share similar characteristics you want to reach.

  15. Target Marketing • Understanding the Customer • In order to compete, a lodging establishment must know what its customers want. Demographics • Statistics that describe a population in terms of personal characteristics. These include age, gender, income, ethnic background, education, etc.

  16. Target Marketing • Services With A Smile Service Marketing • Providing intangible products. • Hotels, restaurants, and airlines conduct extensive training to motivate employees to provide exemplary levels of service.

  17. Plugged-in Hotels Amenities • Services or items offered to guests for convenience and comfort. • Some amenities include:

  18. Essential Question 3 Why is travel and tourism critical to the U.S. economy?

  19. The Financial Impact of Travel and Tourism • Travel and Tourism is the largest services export industry in the nation. • Travel and Tourism is the second largest industry in the state of Georgia.

  20. The Financial Impact of Travel and Tourism • $582 billion annually is spent on travel and tourism. • The industry employs over 18 million Americans. • $159 billion in payroll income annually is generated.

  21. The Financial Impact of Travel and Tourism • Besides the direct impact to restaurants and hotels, travel and tourism indirectly impacts: • Shopping • Entertainment • Airplane manufactures • Kitchen and maintenance suppliers and manufactures • Software developers • Many others

  22. The Financial Impact of Travel and Tourism • Growth In Travel and Tourism Domestic Travel • Travel within a country by its own citizens. • Impact of travel: • U.S. travelers spend $81.4 billion abroad. • Foreign travelers spend $95.6 billion in the U.S. • This results in a 14.2 billion travel trade surplus.

  23. The Financial Impact of Travel and Tourism • Travel and tourism creates and supports jobs; provides a travel trade surplus; and generates tax local, state and federal tax revenue.

  24. The Nature of the Hospitality Marketing Industry • Management Opportunities • General managers • Front office managers • Executive housekeepers • Food and beverage managers • Sales directors • Human resource managers • Operations managers • Financial managers

  25. Essential Question 4 What are the differences between the front-of-the-house and the back-of-the-house operations in a hotel or restaurant?

  26. The Nature of the Hospitality Marketing Industry • A House Divided • A typical restaurant or hotel has two divisions: Front of the House • Involves any area in which the general public or hotel guest has access. Back of the House • Those areas not usually seen or frequented by a guest or patron.

  27. The Nature of the Hospitality Marketing Industry • Departments in the front and back of the house are interdependent. • Both must function properly while at the same time assisting each other to ensure the success of the business.

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