Marketing Pestel
Marketing Research
• Marketing is about anticipating and identifying the wants and needs of a target market of consumers, then satisfying those needs in order to make a profit.
• Firstly, travel and tourism organisations must understand their customers' demands. This is the 'anticipating' and 'identifying' part of the definition.
Marketing Research:
• Anticipating and identifying demands depends on effective marketing research.
• Research into the existing and potential market.
• We will look into this in detail in the Activity.
• Classifying customers according to socio-economic status, lifestyle, family circumstances, gender and so on
• May involve primary research - surveys, observation, questionnaires
• And/or secondary research - statistics and records, quantitative and qualitative.
Classifying Customers:
• A target market consists of a whole group of potential customers, drawn from the whole population
• It's better to define the target market as a collection of 'segments'
• Each segment will have different characteristics
• Each segment's needs and wants must be satisfied
Market Segmentation:
• In the domestic tourism market the following segments may be involved:
• VFR (look for a definition of this term during the Activity)
• General business tourism
• Holidays and breaks pre-family
• Long holidays
• Activity holidays
• Group holidays
Marketing Mix:
• The way in which current and potential customers' demands are satisfied depends on the marketing mix of the organisation's products and services:
• Traditionally 4 elements of the mix - Product, Price, Promotion and Place
• In the modern travel and tourism industry its usual to look at 6
Product or service
• Quality
• Value
• Lifecycle
• Perish ability
• Differentiation
• Niche
Price
• Seasonality
• Strategies
• Competitor analysis
• Loss leadership
• Skimming
Promotion
• Advertising
• Endorsements
• Sponsorship
• Methods - use of different media,
• Marketing is about anticipating and identifying the wants and needs of a target market of consumers, then satisfying those needs in order to make a profit.
• Firstly, travel and tourism organisations must understand their customers' demands. This is the 'anticipating' and 'identifying' part of the definition.
Marketing Research:
• Anticipating and identifying demands depends on effective marketing research.
• Research into the existing and potential market.
• We will look into this in detail in the Activity.
• Classifying customers according to socio-economic status, lifestyle, family circumstances, gender and so on
• May involve primary research - surveys, observation, questionnaires
• And/or secondary research - statistics and records, quantitative and qualitative.
Classifying Customers:
• A target market consists of a whole group of potential customers, drawn from the whole population
• It's better to define the target market as a collection of 'segments'
• Each segment will have different characteristics
• Each segment's needs and wants must be satisfied
Market Segmentation:
• In the domestic tourism market the following segments may be involved:
• VFR (look for a definition of this term during the Activity)
• General business tourism
• Holidays and breaks pre-family
• Long holidays
• Activity holidays
• Group holidays
Marketing Mix:
• The way in which current and potential customers' demands are satisfied depends on the marketing mix of the organisation's products and services:
• Traditionally 4 elements of the mix - Product, Price, Promotion and Place
• In the modern travel and tourism industry its usual to look at 6
Product or service
• Quality
• Value
• Lifecycle
• Perish ability
• Differentiation
• Niche
Price
• Seasonality
• Strategies
• Competitor analysis
• Loss leadership
• Skimming
Promotion
• Advertising
• Endorsements
• Sponsorship
• Methods - use of different media,