Marketing is defined as a social and managerial process by which individuals

Marketing is defined as a social and managerial

This preview shows page 14 - 17 out of 62 pages.

maintain their customer database by delivering customer satisfaction. Marketing is defined as a social and managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others (Kotler, Armstrong, Wong, Saunders, 2008). Marketing Management is the art and science of choosing target markets and building profitable relationships with them (Kotler, P. et al.) New Discipline : Marketing today is about understanding markets and communicating offers tailored to customer needs, increasingly in an online environment. Marketers must understand consumer needs, develop products and services that provide superior customer value and prices, distribute and promote the products effectively so that they will sell easily. This is known as the marketing process and is the core of this module. In other words, the marketing process is the process of (a) analysing marketing opportunities, (b) selecting target markets, (c) developing the marketing mix and (d) managing the marketing effort. Marketing by definition involves communication, which as we know is itself a rapidly developing market. Therefore, we need to grasp not only the theory (principles of tourism marketing) involved but also the developments in communication that affect the operational side of marketing practice. Application : Everything you will do in your professional life involves marketing to a certain extent. In this module you will understand the importance of marketing in a tour operating organization and understand the marketing process as an engine of the tourism business. You will learn to write a marketing plan, produce other professional products and, as tour operators, compete against each other for business funding. The theoretical framework of this module is the expanded model of the marketing process as shown on the next page. The practical use of theoretical knowledge has a wide scope of application, from being able to market yourself and your ideas to designing and implementing plans that create value for customers, build customer relationships and deliver products to markets at a profit.
Image of page 14
15 The Marketing Process figure 1.6, page 27 in Kotler et al. in Principles of Marketing 7th European edition (2017). In any organisation, marketing should not stand by itself but be absorbed in every part of the business. Drawing up and implementing a marketing plan requires specific competencies and cooperation with other departments of the organisation. Therefore, the module is comprised of other integrated components, such as; management skills and business economics (management accounting). In management skills you will acquire presentation techniques. Management accounting is important when it comes to budgeting and controls: in the end it boils down to the viability and feasibility of the plan.
Image of page 15
16 5.2. Place of the Module in the ITM Curriculum The marketing module is the third module in year 1, however for the February stream of 2017/2018 it will be the fourth module. Although it discusses the basic principles in tourism marketing, it builds up on what students have already obtained in the modules before. Below two
Image of page 16
Image of page 17

You've reached the end of your free preview.

Want to read all 62 pages?

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture