Marketing

0.0(0)
studied byStudied by 0 people
learnLearn
examPractice Test
spaced repetitionSpaced Repetition
heart puzzleMatch
flashcardsFlashcards
Card Sorting

1/48

encourage image

There's no tags or description

Looks like no tags are added yet.

Study Analytics
Name
Mastery
Learn
Test
Matching
Spaced

No study sessions yet.

49 Terms

1
New cards

tourism industry

is a conglomeration of various products and services, individuals and organizations, each with specific economic and/or political interests.

2
New cards

Private and non-profit sectors

include industry associations which have been estavlished to proctect special interest groups, such as travel agency associations, financial services, academe, media, and insurance companies. 

3
New cards

Public sector services

cover either national regional, or provincial tourism organizations.

4
New cards

Transportation industry

crucial to the success of tourism

5
New cards

Accommodation sector

covers a huge part of tourists expenditure during travel

6
New cards

Food and beverage sector

another important supplier of the tourism industry.

7
New cards

Attractions

basic requirements in having a successful tourist destination.

8
New cards

Events and conferences

play a key role in attracting both leisure and business travelers to a destination.

9
New cards

Travel intermediaries

help bring the tourism product to the customer.

10
New cards

Tourists

the center of the tourism industry.

11
New cards

Destination Attractions

is a collection of attractions which is the element of the tourism product that pulls people to a destination.

12
New cards

Destination Facilities

 A wide range of tourist facilities within the destination are those products and services that will help the tourist enjoy the destination attractions. 

13
New cards

Accessibility

For a tourism product to be highly successful, infrastructure services and transportations systems

14
New cards

Image

Destination image helps the visitor form expectations of what they will experience when are in the destination.

15
New cards

Price

allows consumers to determine the level of services they may receive in the destination.

16
New cards

Core products

are products that the consumer is really buying.

17
New cards

Facilitating products

are goods and services that must be present for the guest to enjoy and use the core product.

18
New cards

Supporting products

on the other hand, add value to the core product and  help differentiate it from its competitors.

19
New cards

Augmented products

are factors that help the consumer consider the product over other products because these include product accessibility, geographical location, hours of operations, atmosphere, customer satisfaction and customer interactions with each other.

20
New cards

Accessibility

refers to how available the product is to the consumer,

21
New cards

Atmosphere

is the over-all feel of the place

22
New cards

Customer interactions with the service system

is inevitable for the tourism product.

23
New cards

Customers interact with other customers

consuming the product or service along with them.

24
New cards

co-production of the product or service

As such, involving the guest in the delivery of the service can actually improve customer satisfaction,

25
New cards

Product Development.

The product development stage begins with an idea of a new product that could possibly satisfy an existing need or want in a specific market

26
New cards

Introduction.

phase is the period wherein the product is introduced to the market.

27
New cards

Growth Stage.

is a period of rapid market acceptance and increasing profits.

28
New cards

Maturity Stage.

is a period where sales plateau because the product has achieved acceptance by most of its potential buyers.

29
New cards

Market Modification

The company may introduce innovations to the product in order to attract a related segment of the market and increase consumption further. 

30
New cards

Product Modification.

The company can opt to change product characteristics such as product quality, features, and style to attract new users and stimulate more usage. 

31
New cards

Marketing Mix Modification

This is when the company attempts to improve sales by changing one or more of the marketing mix elements to attract new customers and prevent consumers from switching brands. 

32
New cards

Decline Stage.

Some successful products stay in the business for along period of time.

33
New cards

Phase-out.

Without a shift in strategy to adapt to the prevailing business environment, phase-out may be inevitable.

34
New cards

Exploration

characterized by a few adventurous tourists, close interaction with locals, minimal effect on social, cultural, and physical environments, and local facilities are used.

35
New cards

Involvement

characterized by  an increase in tourist arrivals, interaction with locals still high, some changes in social, cultural, and physical environment. Infrastructure development begins.

36
New cards

Development

tourist arrivals are fast increasing, loss of local control, rise of foreign owned facilities, migrant laborers, and promotion of artificial attractions.

37
New cards

Consolidation

tourism has become a major economic factor.

38
New cards

Stagnation

when the carrying capacity of the destination has been reached or exceeded.

39
New cards

Decline

characterized by a downward rate of tourist arrivals.

40
New cards

Product development

is an integral part of the success of any business.

41
New cards

Idea Generation

Is a systematic way of coming up with new ideas.

42
New cards

Idea Screening.

Idea generation leaves you with so many new ideas that need to be screened to see which ones match the company’s objectives and can be developed further.

43
New cards

Concept Development and Testing.

The products that pass through the screening can now be developed further.

44
New cards

Marketing Strategy

A new product or service is developed to try to gain a marketing edge and to differentiate itself from its competitors.

45
New cards

Business Analysis.

stage looks more deeply into how much revenue the product could generate

46
New cards

Prototype Creation

A prototype of the product is created

47
New cards

Test Marketing

The product is then launched in a small geographical area to test the components of the marketing mix.

48
New cards

Commercialization.

. This is when the product is fully launched to the entire target market either nationally or internationally

49
New cards

Evaluation

is is the stage wherein the company will know whether the product has gained market acceptance;