Marketing Flashcards
The opening section of the marketing plan that presents a summary of the main goals and recommendations to be presented in the plan.
Executive Summary
Describes the target market and the company’s position in it.
Current Market Situation
Company marketing opportunity would be an attractive arena for marketing action in which the company would enjoy a competitive advantage.
Opportunities and Issue Analysis
Should be stated as goals the company would like to reach during the plan’s term
Objectives
This consists of specific strategies for target markets, marketing mix, and marketing expenditure levels.
Marketing Strategy
This section sets out what will be done, when, by whom, and how much will be spent doing it.
Action programs
The marketing budget section of the plan shows projected revenues, costs, and profits/ surpluses.
Projected Profit-and-Loss
Outlines the control measures that will be used to monitor progress
Controls
It is the process that turns marketing plans into marketing actions to accomplish strategic marketing objectives.
MARKETING IMPLEMENTATION
What are Marketing Department
Organization?
- FUNCTIONAL ORGANIZATION
- GEOGRAPHIC ORGANIZATION
- PRODUCT MANAGEMENT ORGANIZATION
- MARKET OR CUSTOMER MANAGEMENT ORGANIZATION
- COMBINATION PLAN
Different marketing
activities are headed by a functional specialist.
FUNCTIONAL ORGANIZATION
Sales and marketing people are assigned to specitic countries, regions, or districts.
GEOGRAPHIC ORGANIZATION
A product manager develops a complete strategy for a product or brand.
PRODUCT MANAGEMENT
ORGANIZATION
Specific market plan is developed for each specific market or customer.
MARKET OR CUSTOMER
MANAGEMENT ORGANIZATION
Large companies many times combine elements
of any of the above
COMBINATION PLAN
It is the process of measuring and evaluating the results of marketing strategies and plans, and taking corrective action to ensure that
marketing objectives are attained.
MARKETING CONTROL
TWO BROAD FORMS OF
CONTROL
OPERATING CONTROL
STRATEGIC CONTROL
Involves checking ongoing performance against the annual plan and taking action when necessary
OPERATING CONTROL
Involves looking whether the company’s basic strategies
are well matched to its opportunities.
STRATEGIC CONTROL
What are Role of Marketing in
Hospitality
IDENTIFY CUSTOMER
SATISFY CUSTOMER
RETAIN CUSTOMER
is used to indicate the several marketing variables
used by the sales team to target specific guests or target market
segments.
The hotel marketing mix
What are The Hotel Marketing Mix
SERVICE / FACILITIES
PLACE AND DISTRIBUTION
PROMOTION and COMMUNICATION
ROOM RATE / pricing
This is considered as the first because without this, hotel marketing team will have nothing to deliver to the potential guests/customers.
SERVICE / FACILITIES
Refer to the accessibility of the products and consumers
PLACE AND DISTRIBUTION
