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PROVIDING QUALITY CUSTOMER SERVICE MARKET KNOWLEDGE • Individually write the name of your favourite hospitality venue – Bar, Café, Hotel, Restaurant et al. List the features why it is your favourite? • Write the name of a hospitality venue that you like to visit or liked but don’t any more – what changed you or the venue? MARKET KNOWLEDGE • MARKETING – What is marketing? And how is it different from Selling? • Why do you market? • How do you market? • What does the marketing process involve? ♫ Analyzing marketing opportunities ♫ Selecting target market segments ♫ Developing market mix ♫ Managing the marketing effort MARKETING • Marketing is not selling or advertising! They are only the tip of the iceberg. Originated in 1950 when the US army found itself with excess production capacity – rather to let of staff, they started to lobby industries and people seeking work for their personnel and marketing evolved. • • • • • • Evolution of Marketing Concept: Consumer Goods Industrial Mktg Non profit and social Mktg Services Mktg Customer Satisfaction, Global Marketing, Synchronous Marketing – Real Time Marketing • • • Marketing Defined today No longer Telling and Selling – it is satisfying customer needs and working with customer Whatever method is used, the marketer who does a good job of understanding customer needs, who develops products that provide superior value and who prices, distributes and promotes them effectively should find products sells easily It is a social managerial process by which individuals and groups obtain what they need and want through creating and exchanging products and value with others. • • WHY MARKETING? • • • • Needs – Human Needs – states of self deprivation Physical – Hunger, Thirst, Clothing, Warmth, Safety Social – belonging, affection Individual Needs – personal growth and self advancement • • Wants – the form the need takes and is shaped by culture, environment and individual personality E.g. Hungry person in Australia would have a burger with a coke whereas in South Pacific would eat mangoes, suckling pigs or beans. Wants basically satisfy needs. As exposure to objects increase, interest and desire increases and producers try to provide more want- satisfying products and services People have unlimited wants but limited resources- this creates demand when wants is backed by buying power. A Proton car provides the basic satisfaction – transport, set of wheels and economy whilst a Merc provides luxury, status and comfort – in other words, people demand products with benefits that add up to their satisfaction Companies do market research, focus groups to analyse what customer’s wants and needs are – this is used in designing marketing strategies. A product is something that is offered to the market that satisfies the needs or wants of consumer. • • • MARKETING • • Tangible vs. Intangible products? Pay attention to benefit of product or solution it provides rather than product itself – E.g. drill – it provides solution in making a hole but seller may think that all the customer wants is a drill – this is MARKETING MYOPIA • Customer Value - difference between cost of product and the values the customer gains by using and owning the product Customer Satisfaction – difference between perceived performance to actual performance of product – Motorola’s definition of customer dissatisfaction – if a customer does not like a product, then the product has a defect in it. TQM – as the totality of features and characteristics of a product or service that bear on its ability to satisfy customer needs. Quality begins with customer needs and ends with customer satisfaction • • • Exchange – act of obtaining a desired object from someone by offering something in return It is a core concept of marketing – Why – Two parties involved and participate, each has something of value to gain from each other. Communication is a key part of exchange process. • Transaction is a unit of measurement in marketing – E.g. buying a TV for $ xxx from Harvey Norman – Not all transactions involve money. A political candidate may buy a persons vote. It is actions taken to obtain a desired response from a target audience towards a product, service, idea etc. • Relationship Marketing – building loyalty and long term relationships – going beyond the transaction and exchange – Marketing today has shifted from maximising profit to maximising mutually beneficial relationships with customers. – Profits automatically follow WHAT IS A MARKET • Olden days – stood for a place where sellers and buyers gathered to exchange goods. • Economists definition – the set of all actual and potential buyers of a product MARKETING • Target Consumers – Understand the needs and wants of customers – what is need Vs want – NEED – Shaped by human needs E.g. Clothing, Hunger, Safety etc – WANT - is something that the human using his maturity and availability applies to satisfy the need – E.g. Hamburger • Wants creates demand which in turn creates products WHY MARKETING • In groups of five, identify five key points why marketing is important to business? • What benefits do we get from marketing? • Think of a recent marketing campaign that you saw or heard – what was good about it, why do you remember it and will you purchase the product? CASE STUDY Q’s 1. Why might Coca – Cola, or its franchise bottlers want to know how many ice cubes consumers place in their glass of cola? 2. 2. . If Hoover measures how long it takes to vacuum the house and how much dirt is picked up, how might the company use such information? 3. . Could marketing company collect too much information on the markets for its products and services? 4. Why might parents today be influenced greatly by their children? Is this different from past generations? LESSON OUTLINE – WED 18 MARCH 1. Case Study discussion 2. Measuring & forecasting demand 3. Market Segmenting 4. Case Study 5. Market Targeting 6. Market Positioning • • • Strategies – linked to business goals Consumer Analysis – Awareness that it is impossible to satisfy all customers Design strategies for profitability to these chosen segments Market Oriented Business Definitions Company Product Oriented Definition Market Oriented Definition Poppy We make lipsticks We sell lifestyle and self expression; success and status; Sea World We run a theme park We provide fun and entertainment K Mart We run discount stores We offer products and services that deliver value to middle Australians Xerox We make copying, fax and other office machines We make business more productive Hotel ABC We offer a room with food & beverage We ensure that our guests have a wholesome experience – a home away from home MARKET STRATEGY Depending on strategy adopted and outcome needed marketing strategy may include: 1. 2. 3. 4. Increase Market Share – more sales to present customers without change in product Market Development – increase and develop new markets for existing product Product Development – modify or introduce new products to current markets – in hotels ? Kraft for instance can launch new sizes, new packaging, or change product content e.g. cholesterol free products Diversification – Looking at promoting company by starting up or acquiring products or businesses outside the current products or markets e.g. – Marriott, Four Seasons MARKET SEGMENTATION • MARKET SEGMENTATION Dividing a market into direct groups of buyers with different needs, characteristics or behaviors • Group consumers on geographic factors (countries, regions, cities), demographic factors ( age, sex, income, education ..), psychographic factors ( social classes, life styles) & behavioral factors ( frequency of purchases, benefits sought, usage rates ..). • A Market Segment for a product is consumers who respond in a particular way to a given set of marketing efforts/stimulus. WHAT IS A TYPICAL MARKET TARGET FOR MCDONALDS? HOTEL’S PRODUCTS/ MARKETS • • 1. 2. 3. 4. 5. 6. 7. 8. WHAT ARE SOME OF THE PRODUCTS/SERVICES THAT THE FOLLOWING OFFER? WHAT/WHO ARE THEIR TARGET MARKETS? FIVE STAR HOTEL COUNTRY MOTELS BACKPACKER MOTELS BED & BREAKFAST ACCOMMODATION MEETING AND CONVENTION VENUES CAFES RESTAURANTS BARS MARKET SEGMENTS IN HOTELS • • • • • • • INDIVIDUAL TRAVELLERS TOUR GROUPS OR HOLIDAYS DOMESTIC VISITORS FAMILIES BACK PACKERS CORPORATES CONFERENCE & EVENTS TARGET MARKETING • 1. 2. How to measure demand & forecast – Estimate current and future size of market ( look at competing products, estimate their sales – can the market sustain another product) Growth of market – age, income groups, nationalities, economic forecasts, lifestyle changes etc. E.g. – Kids clothing is related to projected birthrates, projected lifestyles – some companies have market information specialists who use complex techniques to measure and forecast demand- Roy Morgan PDF MARKETING SEGMENTATION Evaluating each market segments attractiveness and then selecting 1 or 2 market segments to enter • Critical that segments targeted can generate greater customer value and sustain it over time • Some new products usually target one segment and add segments as they progress eventually seeking full market coverage E.g. GM – ‘Car for every person, purse and personality’. • A new hotel might target locals and interstate visitors initially along with corporates and conferences and then target the inbound market eventually – WHY? SEGMENT Vs TARGET • Target (category with similar characteristics and buying habits)– Age ( 21 – 35 years), Type of people (Japanese), Living in WA etc • Segment (customers with similar traits, needs & wants)–E.g. DINK’s, Japanese Inbound( Schools, Travellers, Low Income Japs Vs High Income Japs etc)…… CASE STUDY • In groups go through the case study and find out answers to the questions 1 & 2 • Time 15 Minutes