Chapter 15 Hospitality Marketing Introduction to Hospitality Fourth
- Slides: 22
Chapter 15 Hospitality Marketing Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
After Reading and Studying This Chapter, You Should Be Able to: n n n n Define marketing Describe the steps in the marketing system Describe the importance of marketing to the hospitality industry Name the four aspects of the SWOT analysis and how they can be used for strategic planning Explain the marketing segmentation process Name and describe the marketing mix (five P’s) Explain how sales are conducted in the hospitality business Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
“Official” Definition of Marketing n A social and management process by which individuals and groups obtain what they need and want through creating and exchanging value with others. Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Hospitality Marketing Includes: n n n Finding out what guest wants and needs are Providing the guest with solutions “Creating guests and keeping them coming back” Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Hospitality is Unique n Products are: n n Perishable Intangible Interrelated Guests can become “brand loyal” Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Marketing is About n n n Place (location) Distribution (making the product readily available) Pricing (the cost and profit margins) Product image (how the product is perceived) Promotion (communication to the market) Relationship marketing Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Strategic Planning n Market Demand n n n Economic Social Political Technological Competitor Analysis Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
SWOT n n Strengths Weaknesses Opportunities Threats Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Figure 15 -2 SWOT Analysis Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Marketing Segmentation Process n n Divide into segments Profile segments Analyze segments Formulate strategy for each segment Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Figure 15 -3 Market Segmentation Process Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Target Markets n Demographics n n n n Age Gender Income Social class Occupation Family structure Geography Ethnicity Introduction to Hospitality, Fourth Edition John Walker n Usage n n Lifestyle Family life cycle © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Figure 15 -4 Illustration of a Target Market Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Positioning Statement n n n “Better than the competition” “Different than the competition” “Opposite of the competition” Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Brand Marketing n n Brand defined Brand identity n n n n Easy to remember Associated with value Positive connotation Easily recognized Looks good in color and in black and white Catch the customer’s eye Usable, pleasant and non-offensive Easy to pronounce and spell Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Marketing Mix n Five P’s n n n Product Price Place/distribution Promotion People Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Pricing Strategies n n n n Demand-based Value Negotiated Quantity discount Cash discount Seasonal discount Pricing by priority Price bundling Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Forms of Marketing n n Sales promotion Advertising Direct selling Public relations Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Figure 15 -5 Effect Promotion Has on the Buying Process Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
E-Marketing n n n n Databases Websites Email www. expedia. com www. hotwire. com www. travelocity. com www. hotels. com www. gotrooms. com Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Sales n n n Market share Rev. Par Segmentation n Association SMERF Sales quotas Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
Trends n n n Strong growth potential for industry with economic growth Increase in creative marketing Globalization Increased importance of retaining guests Bounce-back effect from 9/11 Continued increase in Internet sales Introduction to Hospitality, Fourth Edition John Walker © 2006 Pearson Education, Inc. Pearson Prentice Hall Upper Saddle River, NJ 07458
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