“Marketing” Creating Customer Value and Satisfaction. Objective : Defining what marketing is and introducing its basic concepts. What is Marketing?. Marketing is not selling or advertising.
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“Marketing”Creating Customer Value and Satisfaction
Objective: Defining what marketing is and introducing its basic concepts.
(e.g. self-fulfillment, etc.)
(e.g. self-respect, status, success, etc.)
(e.g. affection, love, friendship, etc.)
(e.g. security, protection, etc.)
(e.g. food, water, air, etc.)
(Mathieson and Wall, 1993)
Disney World, Orlando
situation. (1) when the demand for a product exceeds the supply (2) when the product’s cost is too high and improved productivity is needed to bring it down. E.g. Henry Ford’s “Model T”, TI watches.
companies use the selling concept when they have overcapacity. This concept focuses on creating sales transactions rather than on building long-term, profitable relationships with customers.
Product Formulation in Tourism
Objective: In response to the knowledge and forecasts on the customer’s needs and wants, discussing how products are put together.
Service Characteristics of Hospitality and Tourism Marketing
Objective: discussing four distinguishing characteristics of services and several things management of service firms can do to increase the effectiveness of their business.
There are four distinguishing characteristics of services. They are;
Four Seasons, Istanbul
Tangible evidences such as promotional materials (e.g. brochures), employees’ appearance, and the service firm’s physical environment help tangibilize the services.
In order to manage capacity with fluctuations in shortterm demand, the following actions are available;
For managing demand (when demand exceeds capacity), the following strategies are available;