Lesson 1 Flashcards
It’s costly and challenging but it helps describe different market segments.
Psychographic Variables
It’s used in specialized wll developed markets to add more details to simpler analyses.
Psychographic Variables
Product Life Cycle:
Inception (Discovery)
Growth (Development)
Maturity
Sustainability
Decline
It’s used when there is more supply than demand.
Consumer Orientation
It focuses on understanding and meeting the needs and wants of the tourist to provide a product or
service that satisfies them.
Consumer Orientation
It focuses on meeting the needs and wants of tourists while also considering and preserving the long-term well-being of the local community.
Societal-Marketing Approach or Societal Orientation
Ilt involves grouping people with-similar-needs and wants to better serve the market.
Marketing Segmentation
Ilt is a widely recognized method for analyzing demand
Marketing Segmentation
This data is simple to understand and use
Socioeconomic and Demographic Variables
are often used because it’s easy to gather this information from things like
census and media data.
Socioeconomic factors
The information collected is directly related to the specific product being looked at.
Product-Related Variables
Uniqueness of Tourism Marketing:
Tourism is a service.
Service provided is usually composed of several components.
Travel agents are a necessity.
The demand is highly elastic, seasonal in character, and subject to changes in taste and fashion.
Focuses on the products or services that are offered.
Product Orientation
It can work well when there is more demand than supply
Product Orientation
This refers to the distribution channels used to deliver the product or service to the customer.
Place
It includes the location, the supply chain, and how the product reaches the consumer (retailers, online
platforms, etc.)
Place
The activities that communicate the product’s value and persuade customers to buy it.
Promotion
Marketing is all about ________ with customers.
interacting
It is the central goal of hospitality marketing.
Customer satisfaction
is made up of those businesses that offer one or more of the following: accommodation, prepared food and beverage service, and/or entertainment.
Hospitality Industry
It consists of all those activities necessary to bring a product or service from the manufacturer to the end
user.
Marketing
is the art and science of finding, retaining, and growing profitable custorers.
Marketing
In marketing it is the organized process through which an organization aims to meet tourist demand by conducting research, predicting trends, and choosing the right tourism products and services
Marketing
balances both the needs of tourists and the goals of the organization or destination.
Marketing
plays a key role in identifying and meeting tourism demand.
Tourism research
includes four key elements: product, price, promotion, and distribution (sometimes called “place”). It also involves research, information systems, and planning.
Marketing Mix
4-P’s in Marketing:
Product
Price
Place
Promotion
This refers to what is being offered to meet customer needs and desires.
Product
It includes the design, features, quality, branding, and variations of the product or service.
Product
The amount customers are willing to pay for the product or service.
Price
This involves setting a price that
reflects the perceived value, competition, and costs.
Price
Tge Acronym M.C.M stands for
Marketing Campaign Materials
