IGCSE Travel and Tourism - Unit 5

tourist board

an official organization that provides tourism information about travel, places of interest, where to stay, etc. of a country/ an area

tourist information centre

providing visitors to a location with information on the area's attractions, lodgings, maps, and other items relevant to tourism

private sector

the part of the economy that is not state controlled and is run by individuals and companies for profit.

channels of communication

how information is passed between various departments, organisations and customers

formal communication

organised and managed information that is shared with relevant individuals within an organisation

informal communication

not managed nor planned information that is sent and received casually with the use of everyday language

Accountability

Willingness to justify, take credit and blame for actions.

visitor traffic

the amount of visitors coming to a destination in a particular time

market research

The activity of gathering information about consumers' needs and preferences.

Primary Research

research done firsthand for the first time

Secondary Research

collect data from past research which has already been performed and often already published

interactive information

any information that a user can directly influence or manipulate, rather than passively receiving

virtual tour

simulation of an existing location

audio tour

a pre-recorded spoken commentary that provides information and context about a specific place, like a museum or a city, allowing visitors to explore at their own pace

digital mapping tool

software used to create, view, and analyze digital maps

traffic management system

uses technology, like sensors, cameras, and data analytics, to monitor, control, and improve traffic flow on roads and highways

profitability

Company's ability to generate an adequate return on invested capital.

competitive advantage

an attribute or condition that allows a company to outperform its rivals, typically by generating greater economic value, which leads to higher market share and profitability

Customer Satisfaction (S)

Perception (P) - Expectancy (E)

Marketing Mix

the set of tactical marketing tools - product, price, place, and promotion - that the firm blends to produce the response it wants in the target market

homogeneous

(adj.) of the same kind

heterogeneous

(adj.) composed of different kinds, diverse

market penetration

low price set to gain entry in the market, but prices increase as customers gain loyalty to the product

market skimming

setting a high price for a new product, to make maximum revenue. The price is lowered once competitors enter the market

discount pricing

offers customers reductions from the regular price so customers believe they have picked up a bargain

variable pricing

selling the same product at different prices due to differences in seasons or in the targeted market segment

loss leader pricing

the pricing policy of setting prices very low or even below cost to attract customers into a store

special offers

Additional items that can be obtained as a result of purchasing an item.

point of sale

the place at which a retail transaction is carried out.

Public Relations

the professional maintenance of a favourable public image by a company or other organization

direct marketing

promotion strategy where a business communicates directly with a targeted consumer or audience, rather than using intermediaries like mass media

personal selling

sales technique involving two-way, direct communication between a salesperson and a potential customer to build relationships, understand needs, and ultimately persuade them to purchase a product or service

leisure market

the various services and activities that people engage in during their free time for relaxation, entertainment or personal development

city break

short holiday spent in the city