THC3. Tourism and Hospitality Marketing (Ma'am Vivienne)

CH 1, 2....

Marketing

It is a social and managerial process where individuals and groups obtain what they need and want by creating and exchanging value with others.

• Attracting Customers

• Delivering superior value and customer satisfaction

• Gaining competitive advantage

Focus Areas in Marketing

Social media ads, Promos or Discounts, Word of mouth, Customer reviews

Examples of Marketing

Determined success of businesses

Helps create awareness

Importance of Marketing

1. Needs, wants, demands

2. Product or Market offerings

3. Value, Satisfaction, Loyalty

4. Exchange, Transaction, Relationship

5. Market

Five Core Marketing Concepts

Needs

Basic human requirements (e.g., food, clothing, safety, shelter).

Wants

Personal desires influenced by culture and personality

Demands

Wants backed by the purchasing power of consumers

Products

Anything offered to meet a need or want.

Market offerings

These are combinations of physical products, services, ideas, and experiences provided to satisfy customer needs and wants.

Tangible and Intangible

What are the two types of product?

Marketing myopia

focusing too much on the product rather than on the benefits and experiences it delivers to meet customer needs

Value

The difference between the benefits of using a product and its cost.

Satisfaction

How well a product meets or exceeds customer expectations.

Quality

The product's ability to fulfill its intended purpose effectively

Customer value

It reflects the benefits gained by using the product compared to the cost of obtaining it.

Marketing exchange

refers to the process where two or more parties trade something of value to satisfy their needs or wants

Marketing transaction

specific exchange where a buyer and a seller agree to transfer goods, services, or experiences for something of value, typically money

Marketing relationship

refers to building and maintaining longterm connections between a business and its customers

Market

consists of actual and potential buyers who share a common need or want that can be fulfilled through an exchange

Product, Price, Place, and Promotion

4Ps

Tourism and Hospitality Marketing

• process of promoting travel-related services, destinations, and experiences to potential customers.

• It combines strategies and tools to attract tourists, enhance their experiences, and encourage them to return or recommend these services to others.

• This marketing focuses on understanding customer desires, creating memorable experiences, and providing excellent service that aligns with cultural, social, and personal needs.

• Promoting destination

• Service differentiation

• Digital presence

• Events and festivals

• Promotional campaigns

Key Aspects of Tourism and Hospitality Marketing

Marketing Management

It is the analysis, planning, implementation, and control of : program designed to create, build, and maintain beneficial exchanges with target buyers to achieve organizational objectives

• Production concept

• Product concept

• Selling concept

• Marketing concept

• Social marketing concept

MARKETING MANAGEMENT PRINCIPLES

Marketing Environment

It consists of all factors within and outside a company that impact its ability to sell products or services.

Microenvironment and Macroenvironment

2 parts of Marketing Environment

Microenvironment

everything and everyone close to a business that affects how it works, like customers, suppliers, competitors, and partners. It's the small, nearby world a business deals with every day. It is also called an INTERNAL ENVIRONMENT.

Management, Marketing, Finance, Production and Operations, Human Resources

Five factors of Microenvironment

Macroenvironment

It is also called the external environment. It includes force that are beyond a company's control.

Economic environment

includes such forces as balance of payments, foreign exchange import-export situations, competitive situation, taxation, energy and oil prices

Business cycle

A key economic factor is the ______ _____, which influences demand.

Sociocultural environment

Refers to the influence of culture, traditions, religion, and social factors on people.

Political-legal environment

includes government actions and laws that affect businesses. This covers rules, political stability, elections, and issues like safety and the military.

Technological Environment

refers to the advancement of science and technology and includes new inventions or discoveries, technological breakthroughs, research

Natural/Environmental Environment

includes factors like typhoons, earthquakes, pollution, ozone depletion, and deforestation

SWOT Analysis

It evaluates a firm's strengths, weaknesses, opportunities, and threats, helping determine the best marketing strategies. For the hotel industry, it is essential as it directly impacts tourism by ensuring adequate accommodations for tourists.

Strength

internal quality that gives a company a competitive edge.

Weaknesses

internal factors that a company lacks or that put it

at a disadvantage, negatively affecting operations

Opportunity

factor in the external environment that is expected to work favorably towards company operations.

Threats

Factor in the external environment that is expected to have a negative effect on company operations

Production concept

This concept holds that given a wide array of products in the market, consumers will prefer to buy products that are widely available and highly affordable.

Product concept

This concept holds that consumers favor products that offer the best quality, performance, and innovative features.

Selling Concept

This concept holds that consumers will not buy enough of the company's products unless the company undertakes an extensive and large-scale selling and promotional effort.

Marketing concept

This concept holds that achieving the goals of an organization depends on knowing the needs and wants of the target market and delivering the desired satisfaction more effectively and efficiently than others.

Socia Marketing Concept

This concept holds that organizations must not only study and satisfy the customer's needs and wants but also deliver superior value in a way that maintains or improves the customer's as well as the society's well-being.

Management

pertains to the organizational setup, including goals and objectives, organizational structure, etc.

Marketing

is about making sure products or services reach consumers in a way that meets their needs and wants.

Finance

refers to the management of company's financial resources

Production and operations

Refers to processes involved in manufacturing products and providing services

Human resources

Focus on improving human performance within the company. It includes motivation, compensation, etc.