Module 6: Marketing Management P1

business activities that direct the flow of goods and services from product to
consumer

activity that pushes the existing product-service mix on the consuming public result to low volume, poor sales revenue, bankruptcy

seeks to satisfy the needs and wants of the consuming public

Includes:
1. Ascertaining needs and wants of the consumer
2. Creating product-service mix that satisfies these needs and wants
3. Promoting and selling the product-service mix to generate profit

include foods, beverages, meeting facilities, atmosphere, table appointments, personal attention by service personnel

is the unique combination of goods and services that satisfies a want or need

includes distribution and how products are sold

involves all communication with the customer

is the amount of money charged for a product or the sum of the values customers exchange for the benefit of the product

They interact with customers throughout their journey and become the ‘face’ of the organisation for the customer.

When a customer makes an enquiry, how long will they have to wait before receiving a response?

provides tangible cues of the quality of experience that a company is offering.

defined as a segment of a population that, as individuals or organizations, have needs for products and possess the ability, willingness, and authority to make a purchase

What are the three steps in the marketing cycle?

strategic plans formulation

implementation of the plan

results vs. projections

What are the five stages of the life cycle of hospitality organization?

consumers shop around for the “best deal”

demand for value-for-money

customize products and services offered to target customers or smaller groups (by income, age, occupation or other grouping)

Dividing or segmenting a market into groups of people based on variables such
as age, sex, income, education, religion, and race

Dividing a market into different units based on variables such as nation, state,
region, city, or neighborhood

Dividing a market into groups based on variables such as social class, lifestyle, or personality traits

Dining out & expenditure patterns/ frequency

Price-value relationship, assessment of service, food and beverage quality

Actions of direct & indirect competitors

Scanning the economic, political, social & technological developments

Trends in business patterns

What is Step 1 in developing a marketing plan?

What is Step 2 in developing a marketing plan?

What is Step 3 in developing a marketing plan?

What is Step 4 in developing a marketing plan?

What is Step 5 in developing a marketing plan?

What is Step 6 in developing a marketing plan?

What is Step 7 in developing a marketing plan?

What is Step 8 in developing a marketing plan?

What is Step 9 and 10 in developing a marketing plan?

critical to keep objectives from becoming good intentions that never materialize.

is the process of determining the success of a plan as implemented

A recurrent series of activities designed to meet the wants and needs of customers; the cycle is driven by customer feedback