HB100-12_Marketing - HB 100 Session 12 Chapter 15...

Info iconThis preview shows pages 1–16. Sign up to view the full content.

View Full Document Right Arrow Icon
HB 100 Session 12 Chapter 15 Hospitality Marketing
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Hospitality Marketing the process of identifying evolving customer preferences (demand) then capitalizing on them through the creation, promotion , and delivery of products and services that satisfy the corresponding demand …
Background image of page 2
Hospitality Marketing Solving customers’ problems giving them what they need/want at the time and place of their choosing at the price they are willing and able to pay Begins with a philosophy that should be practiced everyday -- every employee (front or back/heart of house) is a marketing and salesperson representing his or her company
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Needs and Wants Guests have needs and wants When a need is not satisfied a void exists An unsatisfied person will do 1 of 2 things: look for an “object” that will satisfy the need or try to reduce the need
Background image of page 4
Needs vs. Wants Needs are universal, wants reflect the variety of circumstance and taste Need-satisfaction is fundamental to individual welfare, want-satisfaction is desirable but less urgent
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Maslow’s hierarchy of human needs
Background image of page 6
Competitive Advantage Assigned reading : Being different and better than the competition in as many areas as possible … The key is being perceived as BETTER (different without better not usually profitable) At something valued
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Internal Marketing All associates can be “marketers” It takes 3 or 4 times as much effort and expense to attract new guests as it does to repeat a sale to an existing one
Background image of page 8
Strategic Planning for Marketing Identifies the current business of a corporation, the business it wants for the future, and the course of action or strategy it will pursue
Background image of page 9

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Market Demand By gathering all relevant and available information, it is possible to forecast (“guesstimate”) the demand for a particular product or service
Background image of page 10
Lodging demand example What is the current hotel occupancy in the region, and what is the occupancy of the comparable set of hotels? (STR STAR report as resource) Seasonality issues? When are the rooms required? Where are the guests from -- what “type” are they? Assess the existing market to determine if there is any unmet need (quantify in “room nights”)
Background image of page 11

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Competitor Analysis Analyzing the competition helps determine which strategies/tactics to use in the marketing action plan (example later) Figure 15-1 (p. 503) is an example of a comparison matrix which may be used in this type of analysis
Background image of page 12
SWOT Analysis Figure 15-2
Background image of page 13

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Marketing Segmentation The total market is divided into different groups with similar characteristics in common, and a profile for each segment is created Figure 15-3
Background image of page 14
Identifying Target Markets The next step is to look at the different segments and decide which customer groups are best (most profitable) to use as target markets Figure 15-4
Background image of page 15

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 16
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 04/29/2009 for the course HB 265 taught by Professor Jaemincha during the Spring '09 term at Michigan State University.

Page1 / 49

HB100-12_Marketing - HB 100 Session 12 Chapter 15...

This preview shows document pages 1 - 16. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online