Marketing for the Tourism & Hospitality Industry Lecture PDF

Marketing for the Tourism & Hospitality Industry Prof. Dr. Amany Nabil The Marketing Mix What is the Marketing Mix?  What is the Marketing Mix? Marketing mix is the set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produ...

Marketing for the Tourism & Hospitality Industry Prof. Dr. Amany Nabil The Marketing Mix What is the Marketing Mix?  What is the Marketing Mix? Marketing mix is the set of controllable tactical marketing tools—product, price, place, and promotion—that the firm blends to produce the response it wants in the target market. They are used to implement the firm’s marketing strategy.  What is the Marketing Mix? The 4 Ps  What is the Marketing Mix? 1- Product This component of the marketing mix is sometimes referred to as “Production Formulation” “Product Policy”. It involves planning all aspects of the product be it a good or a service. It also means adapting the product to the changing needs of the target consumer.  What is the Marketing Mix? 2- Price This component involves all aspects of pricing including price setting, pricing strategies, payment conditions, discounts and allowances… etc. It is sometimes referred to as “Pricing Policy”.  What is the Marketing Mix? 3- Place This component of the marketing mix is sometimes referred to as “points or channels of distribution”. It determines the number of prospective customers who are able to find convenient places or ways to convert their buying intentions into purchase. The channel of distribution is the combination of institutions directing the flow of goods from the manufacturer or producer to the consumer. The “place” or “distribution channel” decisions include channel type, intermediaries, outlet locations, transportation, storage and managing channels.  What is the Marketing Mix? 4- Promotion In general this term is defined as “the programs used to increase the number of those in the market who are aware of the product and are favorably disposed towards buying it”. Promotion is considered to be the most visible of the four Ps, but it is very important to appreciate the relationship between promotion and the other components of the marketing mix. However important and visible it is, promotion is still only one of the four levers that have to be integrally linked in the marketing process.  What is the Marketing Mix? The 7 Ps  What is the Marketing Mix? 5- People “All human actors who play a part in service delivery and thus influence the buyer’s perceptions; namely, the firm’s personnel, the customer, and other customers in the service environment”. This includes employees (recruiting, training, motivation & rewards) as well as customers, and the communication of culture and values.  What is the Marketing Mix? 6- Physical Evidence It can be defined as “The environment in which the service is delivered and where the firm and customer interact, and any tangible components that facilitate performance or communication of the service”. This involves facility design, functionality, ambient conditions, employee dress and other tangibles.  What is the Marketing Mix? 7- Process “The actual procedures, mechanisms, and flow of activities by which the service is delivered- the service delivery and operating systems”. This area of the expanded marketing mix for services is sometimes referred to as “Logistics”.  What is the Marketing Mix? The 4 Cs Thank You!