Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Marketing Strategy: Strategies, Positioning, and Marketing Objectives Chapter 8
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Figure 8.1 The process of developing a marketing strategy and plan.
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Figure 8.1 The process of developing a marketing strategy and plan (continued).
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Marketing Strategy The selection of a course of action from among several alternatives that involves specific customer groups, communication methods, distribution channels, and pricing structures. A combination of selected target markets, positioning approach, and marketing mixes (the 8 Ps)
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Positioning The development of a service and marketing mix to occupy a specific place in the minds of customers within target markets
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Marketing Objective A measurable result that a hospitality or travel organization attempts to achieve for a target market within a specific time period, typically one or two years
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Figure 8.5 Summary of the characteristics of the four target market focus strategies.
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Alternative Strategies for Product Life-Cycle (PLC) Stages Introduction Stage a. Rapid-skimming strategy b. Slow-skimming strategy c. Rapid-penetration strategy d. Slow-penetration strategy
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Alternative Strategies for Product Life-Cycle (PLC) Stages (continued) Growth Stage a. Improving service quality and adding new service features and service elements b. Pursuing new target markets c. Using new channels of distribution
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G d. Lower prices to attract more price- sensitive customers e. Shift some advertising emphasis away from building awareness to creating desire and action Growth Stage (continued) Alternative Strategies for Product Life-Cycle (PLC) Stages (continued)
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Maturity Stage a. Market-modification strategy b. Product-modification strategy c. Marketing-mix modification strategy d. Brand extension strategy Alternative Strategies for Product Life-Cycle (PLC) Stages (continued)
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Decline Stage a. Reducing costs and milking the company b. Selling off or getting out of the business Alternative Strategies for Product Life-Cycle (PLC) Stages (continued)
Copyright 2010 Delmar, a part of Cengage Learning. All Rights Reserved. H O S P I T A L I T Y & T R A V E L M A R K E T I N G & T R A V E L M A R K E T I N G Steps Required for Effective Positioning (The Five Ds) Documenting Deciding Differentiating Designing Delivering