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Sample Notes DO NOT BUY NHM 464

by: Ashley Nordahl

Sample Notes DO NOT BUY NHM 464 Nhm 464

Marketplace > University of Mississippi > Hospitality > Nhm 464 > Sample Notes DO NOT BUY NHM 464
Ashley Nordahl

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About this Document

Chapter 1 notes for Marketing in the hospitality industry! Dr. Roseman
Marketing in the hospitality industry
Dr. Mary Roseman
Class Notes
Marketing, Hospitality, NHM
25 ?




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This 2 page Class Notes was uploaded by Ashley Nordahl on Friday October 7, 2016. The Class Notes belongs to Nhm 464 at University of Mississippi taught by Dr. Mary Roseman in Fall 2016. Since its upload, it has received 5 views. For similar materials see Marketing in the hospitality industry in Hospitality at University of Mississippi.


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Date Created: 10/07/16
Introduction: marketing for hospitality and tourism CH 1 08/25/2016  What is marketing?  The process by which companies create value for customers and society, resulting in strong customer relationships which capture value from the customers in return  Not simply a business function: it’s a philosophy  Purpose of a business  Customer orientation o Create and maintain  4 P’s of marketing mix  product  place (distribution)  price  promotion (sales and advertising) ▯ Tourism Marketing  Tourism marketing o Travel industry o Hospitality industry  Interdependency ▯ Marketing process 1. Understand the marketplace and customers needs and wants  As a first step, marketers need to understand customer needs and wants and the market place within which they operate  Five core customer and market place concepts o Needs, wants, demands  Understanding customer needs wants and demands in detail provides important input for designing marketing strategies o Market offerings  o Value and satisfaction  Customer value  Customer expectations ▯ 2. design a customer driven marketing strategy  once it fully understands consumers and the market place management can design a customer driven marketing strategy  select customers to serve  marketing management orientation o Production concept  Belief o Product concept  Belief o Selling concept  Belief o Marketing concepts  Belief o Marketing 3.0  Belief that marketers should approach consumers as a whole human beings with minds, hearts, and spirits ▯ 3. Construct an integrated  ▯ 4. Build a profitable relationships and create customer delight  the first three steps in the marketing process ▯ Customer value building tools  Financial benefits  Structural ties, social &financial benefits  Social and financial benefits ▯ Building profitable customer relationships ▯ 5. capture value from customers to create profits and customer equity ▯ Life time value of the customer  Losing a customer means losing more than single sale  ▯ ▯


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