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Module 07 The Marketing Mix in Tourism and Hospitality DEFINITION • Marketing is about anticipating and identifying the wants and needs of a target market of consumers, then satisfying those needs in order to make a profit • Firstly, travel and tourism organisations must understand their customers’ demands. This is the ‘anticipating’ and ‘identifying’ part of the definition MARKETING RESEARCH • Anticipating and identifying demands depends on effective marketing research • Research into the existing and potential market • We will look into this in detail in the Activity • Classifying customers according to socioeconomic status, lifestyle, family circumstances, gender and so on • May involve primary research – surveys, observation, questionnaires • And/or secondary research – statistics and records, quantitative and qualitative CLASSIFYING CUSTOMER • A target market consists of a whole group of potential customers, drawn from the whole population • It’s better to define the target market as a collection of ‘segments’ • Each segment will have different characteristics • Each segment’s needs and wants must be satisfied MARKETING MIX • The way in which current and potential customers’ demands are satisfied depends on the marketing mix of the organisation’s products and services: • The tools available to a business to gain the reaction it is seeking from its target market in relation to its marketing objectives • Traditionally 4 elements of the mix – Product, Price, Promotion and Place • 7Ps – Price, Product, Promotion, Place, People, Process, Physical Environment Elements of The Marketing Mix Product or Service • Methods used to improve/differentiate the product and increase sales or target sales more effectively to gain a competitive advantage e.g. • Extension strategies • Specialised versions • New editions • Improvements – real or otherwise! • Changed packaging • Technology, etc. Product or Service Cont. • • • • • Core Product Facilitating Product Supporting Product Augmented Product Product Life-Cycle Image copyright: www.freeimages.co.uk