Chapter 1 Marketing Defined.

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Presentation transcript:

Chapter 1 Marketing Defined

Definition of Marketing Marketing is a continuous, sequential process through which management in the hospitality and travel industry plans, researches, implements, controls, and evaluates activities designed to satisfy both customers’ needs and wants and their own organization’s objectives

P: planning R: research I: implementation C: control E: evaluation The PRICE of Marketing P: planning R: research I: implementation C: control E: evaluation

Evolutionary Eras of Marketing in Nonservice Industries Product-orientation era Sales-orientation era Marketing-orientation era Societal-marketing era Online-marketing era

Figure 1. 1 The evolution of marketing in nonservice industries Figure 1.1 The evolution of marketing in nonservice industries. (Adapted from Perreault, William D., and E. Jerome McCarthy, Essentials of Marketing: A Global Managerial Approach, 10th ed. Reproduced with permission of The McGraw-Hill Companies.)

Figure 1.6 Characteristics of a marketing-oriented organization.

Marketing Orientation The Marketing Concept Satisfying Customer Needs and Wants Market Segmentation Value and the Exchange Process Product Life Cycle Marketing Mix Figure 1.8 Core principles of marketing.

The Hospitality and Travel Marketing Environment Marketing Strategy Factors (controllable) Marketing Environment Factors (uncontrollable)

Marketing Strategy Factors Traditional 4 Ps of Marketing – Product; Place; Promotion; Price Additional 4 Ps of Hospitality and Travel Marketing – People; Packaging; Programming; Partnership

Figure 1.10 Marketing strategy factors. Traditional 4 Ps of Marketing Product Place Promotion Price Additional 4 Ps of Hospitality and Travel Marketing People Packaging Programming Partnership Figure 1.10 Marketing strategy factors.

Marketing Environment Factors Competitors Laws and Government Regulations Economy Technology Society and Culture Organizational Priorities and Goals

Figure 1.11 The marketing environment factors. Competitors Laws and Government Regulations Economy Technology Society and Culture Organizational Priorities and Goals Figure 1.11 The marketing environment factors.