Kotler Marketing for Hospitality and Tourism samenvatting / summary
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Course
Marketing
Institution
Breda University Of Applied Sciences
Book
Marketing For Hospitality And Tourism
This summary of Marketing for Hospitality and Tourism, written by Kotler (seventh edition), is based on chapters 1 through 9, 11 through 14, and 17. This summary can be used by any student at any course as soon as this book qualifies.
Important notes:
- The names with the Roman number in front of it are the chapters inside a
chapter.
- The underlined words are subchapters inside a chapter.
,Marketing for Hospitality & Tourism
Chapter 1 Introduction: Marketing for Hospitality and Tourism.
I - Customer Orientation
The purpose of a business is to create and maintain satisfied, profitable customers. Successful
managers understand that profits are best seen as the result of running a business well rather than as
its sole purpose Satisfy your customers.
II – What is (Hospitality and Tourism) Marketing?
Marketing is the art and science of finding, retaining and growing profitable customers. An important
element in marketing is the marketing mix. This mix consists out of the 4-P’s: price, product,
promotion and place. If marketers do a good job of identifying customers and use the 4-P’s in a good
way, the result will be high.
III – Marketing in the Hospitality Industry
Importance of marketing
The hospitality industry consists out of businesses that offer one or more of the following:
accommodation, prepared food and beverage service and/or entertainment. Every company must
understand their customers and develop a service delivery system to deliver a product they want at a
price they will view as being fair. Marketing is changing, for example, because of social media.
Tourism marketing
The tourism sector consists out of hospitality and travel industries. They are dependent on each other
and cooperate in promotions. The government is also important, because they play a role in
legislation aimed at enhancing the industry.
The marketing process
IV – Understanding the Marketplace and Customer Needs
5 steps:
1. Customer Needs, Wants and Demands
Needs are states of felt deprivation, such as food, clothing etc.
Wants are the forms that a human needs to take when shaped by culture and individual
personality. Wants are how people communicate their needs.
, Demands are human wants that are backed by buying power. People have unlimited wants,
but limited resources. They choose products that produce the most satisfaction for their
money.
2. Market offerings: Tangible products, services, and experiences
Products are tangible, and thus physical. Services and experiences are intangible, and thus
not physical.
3. Customer value and Satisfaction
Customer Value is the difference between the benefits that the customer gains from owning
and/or using a product and the costs of obtaining the product. Customer Expectations are
expectations based on past buying experiences, the opinions of friends and market
information. Satisfaction with a products / service is determined by how well the product
meets the expectations.
4. Exchanges and Relationships
Exchange is the act of obtaining a desired object from someone by offering something in
return. Transaction consists of a trade of values between two parties: marketing’s unit of
measurement.
5. Markets
Market is a set of actual and potential buyers of a product.
V: Designing Customer Value-Driven Marketing Strategy
Marketing management can design a Customer-driven marketing strategy.
Marketing management is the art and science of choosing target markets and building profitable
relationships with them. A marketing manager asks two important questions:
1. What customers will we serve?
The marketing manager does this by dividing the market into segments (market
segmentation) and selecting which segments it will go after (target marketing).
2. How can we serve these customers best?
Every company must choose a Value Proposition. This is the full positioning of a brand- the
full mix of benefits upon which it is positioned. It promises to deliver to customers to satisfy
their needs.
Marketing Management Orientations
There are 5 alternative concepts under which organizations design and carry out their marketing
strategies:
1. Production concept = Holds that customers will favor products that are available and highly
affordable, and therefore management should focus on production and distribution
efficiency. A risk is that the management only focuses on the product and not on the
customer.
2. Product concept = The idea that consumers will favor products that offer the most quality,
performance and features and therefore the organization should devote its energy to making
, continuous product improvements. Can lead to marketing myopia (niet verder kijken dan
eigen product).
3. Selling concept = The idea that consumers will not buy enough of an organization’s products
unless the organization undertakes a large selling and promotion effort. Focus is on selling
and not on satisfaction of
customers.
4. Marketing concept = The
philosophy that holds that
achieving organizational
goals depends on
determining the needs and
wants of target markets
and delivering desired
satisfactions more
effectively and efficiently than competitors.
5. The Societal Marketing concept / Marketing 3.0 = The idea that an organization should
determine the needs, wants and interests of target markets and deliver the desired
satisfactions more effectively and efficiently than competitors in a way that maintains or
improves the consumer’s and society's well-being. Companies should balance three
considerations (Marketing 3.0) in setting their marketing strategies: Consumer (Wants),
Society (Human welfare) and Company (Profits).
VI: Preparing an Integrated Marketing Plan
The company’s marketing strategy outlines which customers the company will
serve and how it will create value for these customers. Next, the marketer develops an integrated
marketing program that will actually deliver the intended value to target customers. It consists of the
marketing mix (4-P’s). The firm must blend all 4-P’s into a comprehensive, integrated marketing
program that communicates and delivers the intended value to chosen customers.
VII: Building Customer Relationships
Customer Relationship Management is managing detailed information about
individual customers and carefully managing customer ‘touch points’ in order to maximize customer
loyalty.
Relationship Building Blocks: Customer Value and Satisfaction
Customer-perceived Value = the customer’s evaluation of the difference between all the benefits
and all the costs of a market offering relative to those of competing offers. If performance matches
expectations, the customer is satisfied. Customer satisfaction = The extent to which a product’s
performance matches a buyer’s expectations. High customer satisfaction leads to loyal customers,
who come back a lot.
Engaging Customers
New marketing is customer-engagement marketing Fosters direct and continuous customer
involvement in shaping brand conversations, experiences and community. Its goal is to make the
brand a meaningful part of the customers’ conversations and lives. Social media posts are important,
but it is not enough.
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