Hospitality Marketing Overview Flashcards
What are the Core Marketing Concept?
Needs, wants & demands - Products - Value, Cost & satisfaction - Exchange, transaction & relationship - Market
A social and managerial process by which individuals and groups obtain what the need and wants through creating and exchanging products and value with others.
Hospitality marketing
A state of felt deprivation in a person
Needs
How people satisfy their needs
Wants
Human wants that are backed by buying power
Demands
Anything that can be offered to a market for attention, acquisition, use or consumption
Products
Consumers estimate of the products overall capacity to satisfy their needs
Value
Everything one gives up to gain the product (monetary & non monetary)
Cost
Meeting customers expectation for that product
Satisfaction
Freedom form defect
Quality
The act of obtaining a desired object from someone by offering something in return
Exchange
Marketing units of measurements, it consist of a trade value between two parties
Transaction
Building a relationship with a company’s profitable customers
Relationship
What is SEO?
Search Engine Optimization
What do customers wants?
- your customer want more than just product or service that is offered
- they want to treat them well
- they want their needs
6 basics customer needs
Friendliness Understanding & empathy Fairness Control Options & alternatives Information
Most basic of all customer needs. It is usually associated with being treated politely and courtesy
Friendliness
Putting oneself the customer’s shoes and act to fulfill their needs
Understanding & empathy
There should not be bias in the provision of service
Fairness
represents the customers’ need to feel they have an impact on the way things turn out.
Control
Customers need to feel that other avenues are available to getting what they want accomplished.
Options & alternatives
Customers need to be educated and informed about our products and services, and they don’t want us leaving anything out!
Information
