By: S. Ashby, S. Phillips, and G. Quinn Mix By: S. Ashby, S. Phillips, and G. Quinn

What is a Marketing Mix? The marketing mix is the made up of several variables, such as price, promotions, and service, managed by an organization to influence the demand for a product or service. It is often crucial when determining a product or brand's offer.

Variables of the Marketing Mix Product: Price: A product is what a business offers customers to satisfy needs. Products include specific items such as double or single rooms or continental breakfasts. The price is the amount that customers pay for the products. It is highly negotiable in the hospitality business, and is often based on supply and demand as well as what consumers consider to be a fair price.

Variables of the Marketing Mix Cont. Promotion: Distribution: The promotion of a product is a combination of methods used to inform the customer of the business and to encourage the customer to purchase the products or services. Advertising such as brochures are used to promote businesses. The distribution of a product is a method used to get the product or service to a customer. In the hospitality industry, travel packages are used as distribution.

The Seven Functions of Marketing!!!

Marketing-Information Management is gathering and using information about customers to improve business decision making. Examples are: individual guest food and beverage selections, choice of activities, favorite tee times or ski runs, and preferred arrangement of furniture in rooms. Financing is acquiring and budgeting financial resources to stay in business. Many airline companies team up with hotels to offer benefits and upgrades for their frequent customers. Then customers reap extra rewards, while companies receive a stream of earnings and revenues.

Pricing is determining the value and cost of goods and services offered to customers. Examples are: Airline prices are usually high during peak travel times. Hotels that cater Sunday through Thursday nights often decrease room rates on Friday and Saturday night when the business is slow. Promotion is informing customers about a company's products, services, images, and ideas through advertising, personal selling, publicity, and public relations. Examples are: Many hotels participate in local charity events to publicize their efforts as community benefactors.

Product/Service Management involves designing, developing, maintaining, improving, and acquiring products or services to meet the needs of customers. Examples are: In order to stay competitive, hospitality managers and owners must continually update the goods and services. Distribution is the means of getting a company's products and services to customers in the best way possible. Although many products are critical to the hospitality industry, providing services brings in majority of a hotel’s or restaurant’s business.

Selling is the process of communicating directly with customers to determine and then satisfy their needs. Example: A front desk agent might tell a guest of the availability of a more expensive or larger room than the one originally reserved.

Hospitality Marketing Textbook WORK CITED