15 Tourism and Hospitality Marketing PDF

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These notes have been gathered from live lectures (when permitted), the slides, and zoom/panopto recordings...

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THMGT101 - Tourism and Hospitality Marketing Definition ?What is Marketing

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? How would you define marketing

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: American Marketing Association’s definition of marketing An organisational function and a set of processes for creating, “ communicating, and delivering value to customers and for managing customer relationships in ways that benefit the ”. organisation and it's stakeholders

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Marketing Analysis Research and Marketing

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. Successful marketing depends on research ? Why does tourist X travel to destination Y ? Who are your competitors ? What is your product ? Who are your potential customers ?What are some future trends ? How should we train our staf ? How do we determine our demand

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SWOT Analysis SWOT analysis is a strategic planning technique used to help a person or organisation identify strengths, weaknesses, opportunities, and . threats r n or project planning

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Boston Consulting Group Matrix The Boston Consulting group’s product portfolio matrix (BCG matrix) is designed to help with long-term strategic planning, to help a business consider growth opportunities by reviewing its portfolio of products to decide where to invest, to discontinue or develop products. It’s also . known as the Growth / Share matrix

Question marks or problem child: products in high growth markets . Dogs: these are products with low growth or market share

. with low market share

. Cash cows: products in low growth markets with high market share . Stars: products in high growth markets with high market share

PESTEL Analysis

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PEST analysis describes a framework of macro-environmental factors

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used in the environmental scanning component of strategic management. The letters stand for Political, Economic, Social, . Technological, Environmental, and Legal

Marketing Mix Marketing Mix Marketing mix: the right combination of elements that will produce a .profit

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Includes Timing, brands, image, packaging, pricing, product, advertising, • . It is composed of every factor that influences the marketing efort

selling, channels of distribution, public relations, service quality, …research

P’s of Marketing Four P’s

• Price • Place • Promotions • Product

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Others People Packaging Positioning Programming Partnerships Prospects Post-sale

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Marketing Mix: Product . Tangible and intangible -

. Feedback is critical . Product life cycle Introduction • Growth • Maturity • Saturation • Decline •

. Must meet the customer’s needs and wants

Marketing Mix: Price

Pricing strategies .At current market price • .( Below market price (penetration pricing • .( Above market price (price skimming • Pricing policy Quality • Competition • Distribution • Cost • Seasonality • Price = perception = value

(Marketing Mix: Place (Distribution . Where the product is delivered 4

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• .Theme park, hotel • . Travel agency

.Atmosphere -

”. Location, location, location “

Marketing Mix: Promotion Advertising: internet, newspaper, television, magazines, radio, outdoor . advertising, viral video, logo, slogan

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. Public relations: events, celebrities, lucky-draw

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Internet marketing: website, social media, social network, blogs, wiki, . microblogging, forums, mobile marketing, search engine optimisation

. Hunger marketing: limited stock, time limit, special discounts . Personal selling: individual, personal communication, flexible Internal marketing: the promotion of a company’s objectives, .Word-of-mouth: celebrities’ comments

products and services to employees within the organisation. The purpose is to increase employee engagement with the company’s goals . and fostering brand advocacy

Viral Video A viral video is a video that becomes popular through a viral process of internet sharing, typically through sharing websites such as YouTube as . well as social media and email

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Viral videos may be serious, and some are deeply emotional, but many . more are centred on entertainment and humorous content

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One commentator called the Kony 2012 video the most viral video in history (about 34,000,000 views in three days and 100,000,000 views in six days), but “Gangnam Style” (2012) received one billion views in five months and was the most viewed video on YouTube from 2012 until .(“Despacito” (2017

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Marketing Mix: Positioning -

Establishing a distinctive place in the market and in the minds of . potential guests

Marketing Mix: Partnerships and Packaging …Partnerships . Two or more tourism organisations come together • e.g. AAA / Hertz • 5

…Packaging

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• e.g. Travelocity - hotel / airline / car rental •

. Combine items or activities and sell them as a group

Marketing Mix: Programming and People …Programming . Activities, promotional programs, and training • e.g. Disney, RapidRewards, SkyMiles • …People

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• . Training and involvement • . Empowering employees

Marketing Mix: Post-Sale

…Evaluate ? Is your market plan a good plan • ? Are you reaching your target market • ?What are new trends • ? What are your competitors doing • Assessment

Marketing Mix: Prospects

Market segmentation Geographic - climate, landscape • Demographic - age, gender, family • Socioeconomic - education, income • Psychographic - lifestyle • Behaviour patterns - loyalty • Consumption patterns - loyalty • Consumer predispositions - product knowledge • Target market

Market Segmentation Typical Bases for Market Segmentation 6

Segmenting Consumer Markets

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