Tourism Marketing
11 important questions on Tourism Marketing
What are the two central concepts of marketing?
2. The process of identifying and supplying consumer needs
What are the key stages of the evolution of marketing?
- Sales orientation: Securing sales --> focus on persuading consumers to buy rather than understanding the decision making process
- Marketing orientation: focus on consumer needs and to re-orientate thinking to ensure that products are formulated and marketing processes designed to meet the needs of tourists.
- Societal marketing: the broader needs of society rather than just the customer.
What are the four characteristics that a marketing orientation implies?
- encourages exchange and strengthens loyalty and network with customers
- strategic and tactical planning goes hand-in-hand and includes constant evalution and reviews of activities
- integrated organizational structure
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What is the molecular approach?
Which two considerations need to be taken into account in order to understand the best approach for tourism markting?
2. Nature of the tourism product itself and nature of the purchasing process
What is the BCG matrix?
- Cash cows: highly prfitable and do not need significant investment
- Stars: product leaders in high growth markets
- Question marks: have not achieved a dominant market position and do not generate much cash
- Dogs: a drain on the organization's resources with low market share and low growth market.
What is the Ansoff's product market growth matrix?
- Market penetration: involves increasing market share at expense of competition)
- Product development: involves developing new products to serve existing markets
- Market development: involves seeking new markets for existing products
- Diversification: involves seeking new markets for existing products
What kind of strategic approaches are there for tourism marketing?
- Growth and development strategies (Ansoff)
- Positioning
- Branding
From which two viewpoints can brands be approached?
- The holistic approach --> views the brand as greater than the parts.
Which three parts has a product?
- The tangible product --> the offering itself
- The augmented producht --> extra features to be competitive
What are strategic pricing approaches?
- Rate of return pricing --> price is determined to deliver a set rate of return
- Demand oriented pricing --> the price is set according to what the market is prepared to pay
- Discrimination pricing --> prices differ according to different market sectors/time of the year
- Backward pricing --> price is decided upon and then the product reverse engineered to deliver that price
- Penetration pricing --> low price is set in the early stages of the life-cycle in order to builld market share
- Skimming pricing --> monopoly --> charge a premium price.
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