Destination marketing Flashcards
The marketing mix
Explain marketing mix
It refers to the getting the right product to the right people in the right place at the right price using the right promotional methods
Explain product as part of marketing mix
(i)It includes both good and service
(ii)It include sustainable product
(iii)Good are physical objects
Explain the characteristics/features of product
(i)Tangible
(ii)Homogeneais-All products are all standardised
(iii)Storable
Explain the characteristics/features of services
(i)Intangible
(ii)Heterogeneous-service are not standardised
(ii)Inseparable
Explain product life cycle
It is a marketing tool that allows an organisation to evaluate the positioning of the product it offers
Explain the stages of PLC
- Introduction:New product is launched into the market
- Growth:The market has accepted the product and sales begin to increase
- Maturity:Sales reach their peak
4.Saturation:people are saturated with the product as there is no innovation - Decline:sales begin to decline as product reaches its saturation
Explain price as part of marketing mix
It Is the term used to describe how much customer actually pay to receive the product upon purchase.
Explain the pricing policies uses in the travel and tourism industry
- Marketing penetration
(i)also known as trial pricing
(ii)When new product is launched,it is offered on low prices for enable to the customer to try
(iii)Once the place I the market have established organisations tend to increase without losing customer loyalty - Market skimming
(i)It allow the provider to change high price,attracting customer who are comfortable in paying relatively high price to be the first one to try something
(ii)Competitors offers substitute product thus forcing the price down and make it affordable for wider range of customer - Discount pricing
(i)Decrease on original price
(ii)Used mostly when products have not been sold in sufficient quantity or when product reaches close to its expiry - Variable pricing
(i)Known as discrimination pricing
(ii)Deals with variability of demand
(iii)Different prices are charged during the peak seasons when demand is high
5.Loss leader pricing
(i)Not often used in the travel and tourism industry
(ii)It is a product that is sold at little or no profit
(iii)Entices people to spend on good being cheap
6.Promotional pricing
(i)Offers reduced prices to allow for a limited of time
(ii)Use to pull customers away from rival organisations
7.Prestige pricing
(i)Also known as premium pricing
(ii)People associate high prices with high quality
8.Price bundling
it means offering several product which are related for sales as one combined product
Explain the factor that determine pricing policies
(i)Fixed and variable cost
-refers to the expenses a business pay to buy or to produce its product
(ii)profitability
(iii)subsidies(reduction of price)and taxation(Higher prices)
Explain place aspart of marketing mix
It describe how the product reaches the customer place
Explain distribution channel
It is a medium by which good and service are made available to the consumer for use or consumption
Explain the factors influencing the selection of a location fro travel and tourism
(i)cost
(ii)character of area
(iii)Availability of sustainable site ot permises
Explain promotion as a part of the marketing mix
(i)To raise and maintain customer awareness of product
(ii)To inform customer about the product’s features
(iii)To stimulate demand
List and explain the methods of promotion
1.Advertising-it is a very visible means of communication with customers
(i)Broad media-Tv,radio,cinema
(ii)Print media-newspapers,magazines,leaflets
(iii)Display media-Billboard,posters,signs
2. Marketing campaigns:Involves product promotions that are time limited
3. Sales promotion:Temporarily offers to attract customers
(i)Discount packages
(ii)Money of coupons/vouches
(iii)competitions
Explain e-brochure
It is deliver the information visually
-Images are included
-3D elements are included
-Easily created and updated
