WEEK 4 - 5 Flashcards
The process by which companies create value for customers and society, resulting in strong customer relationship that capture value from the customer in return.
Marketing
These are physical objects, services, person, places, organizations and ideas that can be offered to a market or individual to satisfy a need or want
Products
This is the dfferent between the values that customer gains from owning an using products and the costs of obtainingthe products
Customer Value
The process of creating, maintaining, and enhancing strong, value laden relationship with customers and other stakeholders
Relationship Marketing
A critical aspect of any marketing initiative as it focuses on all aspects on how organization focuses its efforts towards ensuring business success and customer satisfaction
Marketing Mix
This is the new way a customer is made aware of an offering
Promotion
Derived from the root word “allo” meaning varied in form
Allocentric
Derived from “psyche” less apt to go on for new familiar experiences
Psychocentric
Characterized by guided tours that include tasting the local cuisines and the viewing and participating in folk dance performances
Cultural Tourism
Travel for the purpose of observing and living with indigenous people
Environmental or Eco-Tourism
Conveys the company’s “distinct image”
Coporate Identity
It is about what the company sells
Brand Identity
It mustbe understood in the sense of satisfying customer needs
Marketing
The process by which companies create value for customers and society, resulting in strong customer relationship that capture value from the customer in return.
Marketing
These are pivotal activities that need to be performed by any hospitality and tourim organization.
Marketing and sales
Who created the marketing process that presents a simple five-step model
Kotler, Bowen and Marken (2014)
From what concept is this;
Starting Point: Factory
Focus: Excisting Products
Means: Selling and Promoting
Ends: Profits through sale volume
The SELLING concept
From what concept is this;
Starting Point: Market
Focus: Customer Needs
Means: Integrated Marketing
Ends: Profits through customer satisfaction
MARKETING concept
It aims to understand the customer before selling and offering to them
Maketing
A logic step before selling
Marketing
These underlie wishes and expectations and are things customers are unable to do without.
Needs
These refer to the way in which our customer would prefer to satisfy a specific need.
These are needs which sre shaped, determined and leraned by the society or culture that they live in.
Wants
The set of all actual and potential buyers of a product
A Market
These are physical objects, servies, persons, places, organizations and ideas that can be offered to a market or individual to satisfy a need or want
Products