Marketing Mix

             Marketing is the management and social process of identifying, anticipating and satisfying the needs of present and potential customers whilst making long-term profits. The choice of marketing techniques may vary in the marketing of services from the marketing of products, but the basic principles and concepts of marketing are equally important and relevant in both.
             Successful hospitality marketing regards the customer as the focal point of business. In the hospitality business, selling is often misunderstood as marketing. Personal selling, although important, is only one of many tactical areas of marketing and one of the five elements of promotion mix.
             Promotion mix in the context of the marketing mix
             Most 'front of house' hotel staff, especially the ones attached to the sales department, front office, banquet office, and food and beverage outlets, are involved in selling. Basically selling is a micro function which means offering existing products at an agreed price. Often sales people do not control (although they may influence) the production level or quality.
             Marketing is a macro function, which, in addition to selling, is involved in many other tactical areas, such as:
             Collecting, storing and analysing important information regarding markets, competition and future trends.
             Segmenting the market and identifying specific needs of different customers.
             Adjusting existing products and creating new products to suit the changing customer needs.
             Deciding on price levels acceptable to the customers and to the company (ensuring value for money to the customers and ensuring long-term profitability for the company).
             Selecting suitable channels which can be used as 'pipelines', either to distribute the products to customers or attract customers to the products/services. (in the case of the hotel and restaurant business, are channels such as travel agents are often used for attracting potential customers, rather than act...

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Marketing Mix. (1969, December 31). In MegaEssays.com. Retrieved 09:42, March 29, 2024, from https://www.megaessays.com/viewpaper/96424.html