DOCSLIB.ORG

Marketing for Hospitality and Tourism

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text
Marketing for Hospitality and Tourism A SIXTH EDITION Marketing for Hospitality and Tourism Philip Kotler John T. Bo wen James C. Makens PEARSON Boston Columbus Indianapolis New York San Francisco Upper Saddle River Amsterdam Cape Town Dubai London Madrid Milan Munich Paris Montreal Toronto Delhi Mexico City Sao Paulo Sydney Hong Kong Seoul Singapore Taipei Tokyo Contents To the Student xiv What Is Customer Equity? 25 Building the Right Relationships with the Right Preface xix Customers 26 Building Customer Equity 2 7 About the Authors xxi MARKETING'S FUTURE 27 KEY TERMS 27 CHAPTER REVIEW 28 PART I Understanding the DISCUSSION QUESTIONS 30 EXPERIENTIAL EXERCISES 30 Hospitality and Tourism INTERNET EXERCISES 30 Marketing Process 1 REFERENCES 31 Introduction: Marketing for Hospitality and Tourism 3 Service Characteristics of 1 Hospitality and Tourism YOUR PASSPORT TO SUCCESS 5 2 Marketing 35 CUSTOMER ORIENTATION 7 WHAT IS HOSPITALITY AND TOURISM THE SERVICE CULTURE 36 MARKETING? 9 CHARACTERISTICS OF SERVICE MARKETING 37 MARKETING IN THE HOSPITALITY Intangibility 37 INDUSTRY 10 Physical Evidence 38 Importance of Marketing 10 Inseparability 38 Tourism Marketing 10 Variability 39 MARKETING HIGHLIGHT 11 Perishability 41 Definition of Marketing 11 SERVICE MANAGEMENT CONCEPTS FOR THE The Marketing Process 11 HOSPITALITY INDUSTRY 42 UNDERSTANDING THE MARKETPLACE AND The Service Profit Chain 42 CUSTOMER NEEDS 12 Three Types of Marketing 42 Customer Needs, Wants, and Demands 12 MANAGEMENT STRATEGIES FOR SERVICE Market Offerings: Tangible Products, Services, BUSINESSES 43 and Experiences 13 Managing Service Differentiation 43 Customer Value and Satisfaction 13 Managing Service Quality 43 Exchanges and Relationships 14 MARKETING HIGHLIGHT 44 Markets 14 Managing Service Productivity 45 DESIGNING CUSTOMER-DRIVEN MARKETING STRATEGY 15 Resolving Customer Complaints 45 Selecting Customers to Serve 15 MARKETING HIGHLIGHT: RECOMMENDATIONS FOR IMPROVING SERVICE Marketing Management Orientations 15 QUALITY 46 48 PREPARING AN INTEGRATED MARKETING Managing Employees as Part of the Product PLAN 19 Managing Perceived Risk 48 BUILDING PROFITABLE CUSTOMER Managing Capacity and Demand 49 RELATIONSHIPS 20 KEY TERMS 55 Customer Relationship Management 21 CHAPTER REVIEW 55 The Changing Nature of Customer DISCUSSION QUESTIONS 56 Relationships 22 EXPERIENTIAL EXERCISES 56 CAPTURING VALUE FROM CUSTOMERS 24 INTERNET EXERCISES 56 Customer Loyalty and Retention 24 Growing Share of Customer 25 REFERENCES 56 Contents vii The Role of Marketing in Strategic Economic Environment 103 Planning 59 Natural Environment 104 3 Technological Environment 105 NATURE OF HIGH-PERFORMANCE BUSINESS 62 Political Environment 106 Stakeholders 62 MARKETING HIGHLIGHT: HOSTILE ENVIRONMENT 107 Processes 62 Cultural Environment 109 Resources. 63 LINKED ENVIRONMENTAL FACTORS 110 Organization 64 RESPONDING TO THE MARKETING CORPORATE STRATEGIC PLANNING: DEFINING MARKETING'S ROLE .64 ENVIRONMENT 111 Environmental Scanning 112 Defining the Corporate Mission 65 Setting Company Objectives and Goals 67 Using Information About the Marketing Environment 112 Designing the Business Portfolio 67 KEY TERMS 112 MARKETING HIGHLIGHT: STARBUCKS COFFEE: WHERE GROWTH IS REALLY CHAPTER REVIEW 113 PERKING 70 MARKETING STRATEGY AND THE MARKETING MIX 72 DISCUSSION QUESTIONS 114 Customer-Driven Marketing Strategy 72 EXPERIENTIAL EXERCISES 114 Developing an Integrated Marketing Mix 74 INTERNET EXERCISES 114 MANAGING THE MARKETING EFFORT 75 REFERENCES 114 Marketing Analysis 75 Goal Formulation 78 Market Planning 79 Marketing Information Implementation 80 5 Systems and Marketing Feedback and Control 80 Research 119 UNIQUE CHALLENGES OF THE HOTEL INDUSTRY 81 MARKETING INFORMATION AND CUSTOMER KEY TERMS 82 INSIGHTS 121 CHAPTER REVIEW 83 THE MARKETING INFORMATION SYSTEM 122 DISCUSSION QUESTIONS 84 Assessing Information Needs 123 EXPERIENTIAL EXERCISES 85 Developing Marketing Information 123 INTERNET EXERCISES 85 Marketing Intelligence 129 REFERENCES 85 MARKETING RESEARCH 131 Defining the Problem and Research Objectives 132 Developing the Research Plan 133 PART 11 Developing Hospitality MARKETING HIGHLIGHT: ETHNOGRAPHIC RESEARCH: WATCHING WHAT and Tourism Marketing CONSUMERS REALLY DO 135 Opportunities and MARKETING HIGHLIGHT: PROS AND CONS OF ONLINE RESEARCH 140 MARKETING HIGHLIGHT: A "QUESTIONABLE" QUESTIONNAIRE 143 Strategies 87 Implementing the Research Plan 147 Interpreting and Reporting the Findings 147 The Marketing Environment 89 MARKETING HIGHLIGHT: RESEARCH PROBLEM AREAS 148 4 MARKETING HIGHLIGHT: HSMAI'S eCONNECT: A GREAT SOURCE OF MARKETING THE COMPANY'S MICROENVIRONMENT 91 INFORMATION 149 The Company 91 INTERNATIONAL MARKETING RESEARCH 150 Existing Competitors 91 MARKETING RESEARCH IN SMALLER Suppliers 93 ORGANIZATIONS 151 Marketing Intermediaries 94 KEY TERMS 151 Customers 95 CHAPTER REVIEW 152 Publics 96 DISCUSSION QUESTIONS 153 THE COMPANY'S MACROENVIRONMENT 96 EXPERIENTIAL EXERCISES 154 Competitors 96 INTERNET EXERCISES 154 Demographic Environment 98 REFERENCES 154 viii Contents Consumer Markets and Consumer Corporate Meetings 194 Buying Behavior 157 Small Groups 195 6 Incentive Travel 195 A MODEL OF CONSUMER BEHAVIOR 158 MARKETING HIGHLIGHT: GREEN MEETINGS: THE RIGHT THING TO DO FOR THE PERSONAL CHARACTERISTICS AFFECTING CONSUMER ENVIRONMENT AND BUSINESS 197 BEHAVIOR 159 SMERFs 198 Cultural Factors 159 Segmentation of Group Markets by Purpose Social Factors 162 of the Meeting 198 Personal Factors 166 Restaurants as a Meeting Venue 199 MARKETING HIGHLIGHT: THE SAN DIEGO PADRES BASEBALL CLUB 169 DEALING WITH MEETING PLANNERS 199 Psychological Factors 170 THE CORPORATE ACCOUNT AND CORPORATE TRAVEL THE BUYER DECISION PROCESS 174 MANAGER 201 Need Recognition 174 KEY TERMS 202 Information Search 175 CHAPTER REVIEW 202 Evaluation of Alternatives 176 DISCUSSION QUESTIONS 203 Purchase Decision 177 EXPERIENTIAL EXERCISE 203 Postpurchase Behavior 177 INTERNET EXERCISE 204 MARKETING HIGHLIGHT: UNIQUE ASPECTS OF HOSPITALITY AND TRAVEL REFERENCES 204 CONSUMERS 178 KEY TERMS 179 CHAPTER REVIEW 179 Market Segmentation, Targeting, DISCUSSION QUESTIONS 180 8 and Positioning 207 EXPERIENTIAL EXERCISES 181 MARKETS 209 INTERNET EXERCISE 181 MARKET SEGMENTATION 209 REFERENCES 181 Geographic Segmentation 209 Demographic Segmentation 211 Organizational Buyer Behavior Gender 212 of Group Market 185 MARKETING HIGHLIGHT: TARGETING FAMILIES BY TARGETING KIDS 213 7 Psychographic Segmentation 214 THE ORGANIZATIONAL BUYING PROCESS 186 Behavioral Segmentation 215 Market Structure and Demand 186 MARKETING HIGHLIGHT: THE VFR TRAVELER SEGMENT 216 Types of Decisions and the Decision Process 187 Requirements for Effective Segmentation 219 PARTICIPANTS IN THE ORGANIZATIONAL BUYING MARKET TARGETING 219 PROCESS 187 Evaluating Market Segments 219 MAJOR INFLUENCES ON ORGANIZATIONAL Selecting Market Segments 220 BUYERS 188 Choosing a Market-Coverage Strategy 222 Environmental Factors 189 MARKET POSITIONING 222 Organizational Factors 189 Positioning Strategies 223 Interpersonal Factors 189 Choosing and Implementing a Positioning Individual Factors 189 Strategy 224 ORGANIZATIONAL BUYING DECISIONS 189 Product Differentiation 225 1. Problem Recognition 189 Selecting the Right Competitive Advantages -228 2. General Need Description 190 Communicating and Delivering the Chosen 3. Product Specification 190 Position 229 4. Supplier Search 190 Positioning Measurement: Perceptual 5. Proposal Solicitations 190 Mapping 230 6. Supplier Selection 190 KEY TERMS 231 7. Order-Routine Specification 191 CHAPTER REVIEW 231 8. Performance Review 191 DISCUSSION QUESTIONS 233 GROUP BUSINESS MARKETS 191 EXPERIENTIAL EXERCISE 233 Conventions 192 INTERNET EXERCISE 233 Association Meetings 193 REFERENCE 233 Contents ix THE INTERNAL MARKETING PROCESS 276 Establishment of a Service Culture 276 PART III Developing the Development of a Marketing Approach to Human Hospitality and Tourism Resources Management 280 Marketing Mix 235 Dissemination of Marketing Information to Employees 287 Designing and Managing MARKETING HIGHLIGHT: INTERNAL MARKETING IN ACTION: LEWIS HOTELS 288 Products 237 9 Employee Involvement in Product Selection 290 WHAT IS A PRODUCT? 239 MARKETING HIGHLIGHT: THE FOUR SEASONS: TAKING CARE OF THOSE WHO TAKE PRODUCT LEVELS 240 CARE OF CUSTOMERS 291 Core Products 240 KEY TERMS 292 Facilitating Products 241 CHAPTER REVIEW 292 Supporting Products 241 DISCUSSION QUESTIONS 293 Augmented Product 242 EXPERIENTIAL EXERCISE 293 BRANDING STRATEGY 248 INTERNET EXERCISE 293 Building Strong Brands 248 REFERENCES 293 Brand Equity 248 Brand Positioning 250 • Pricing Products: Pricing Brand Portfolios 250 Considerations, Approaches, Managing Brands 251 11 THE NEW-PRODUCT DEVELOPMENT 252 and Strategy 297 Idea Generation 253 PRICE 299 Idea Screening 255 FACTORS TO CONSIDER WHEN SETTING PRICES 299 Concept Development and Testing 255 Internal Factors Affecting Pricing Decisions 300 Marketing Strategy 257 External Factors Affecting Pricing Decisions 304 Business Analysis 257 Competitors' Prices and Offers 310 Product Development 258 GENERAL PRICING APPROACHES 311 Test Marketing 258 Cost-Based Pricing 311 MARKETING HIGHLIGHT: THE NATIONAL FOOD LABORATORY Break-Even Analysis and Target Profit Pricing 312 HELPS RESTAURANTS DEVELOP NEW PRODUCTS AND IMPROVE EXISTING Value-Based Pricing 313 PRODUCTS 259 Competition-Based Pricing 314 Commercialization 260 PRICING STRATEGIES 315 PRODUCT DEVELOPMENT THROUGH ACQUISITION 260 New-Product Pricing Strategies 315 PRODUCT LIFE-CYCLE STRATEGIES 261 Existing-Product Pricing Strategies
Load more

Recommended publications
  • Improving Marketing's Role in Innovation
    Improving Marketing’s Role in Innovation Philip Kotler GE-Crotonville May 12, 2011 Agenda • Innovation is a Necessary Strategy for Growth • How Some Companies Are Pursuing Innovation • Winning at Innovation: The A to F Model • Marketing’s Role in Innovation Innovation as a Growth Strategy “A business has two—and only two—basic functions: marketing and innovation. Marketing and innovation produce results: all the rest are costs.” Peter Drucker “While great devices are invented in the laboratory, great products are invented in the Marketing Department.” William H. Davidow "Most innovations fail. And, companies that don't innovate die.“ Henry Chesbrough Most Companies Are Not Organized for Innovation • Innovation is not a natural inclination of companies. • “Executives say innovation is very important, but their companies’ approach to it is often informal, and leaders lack confidence in their innovation decisions.“ McKinsey report. • Most companies expect ideas and initiatives to come either naturally, or through creativity training, or through setting up skunk works. How companies approach innovation: A McKinsey Global Survey. McKinsey Quarterly., October 2007 But Some Companies are Well-Organized for Innovation • Apple, 3M, P&G, Sony, Samsung, General Electric, LG, Toyota, Nike, Google, Amazon, Harley Davidson, Lego, IBM, Google, Micorsoft and many others. • Consider that 3M with its 38 core technologies manages to place 50,000 products and 2,000 brands on the market. • "We think of innovation as a creative and nonlinear concept. But that does not mean that it is not manageable. At Procter & Gamble we can manage innovation because we have a clear definition of innovation”. A. G.
    [Show full text]
  • About the Authors Authors
    About the Authors Philip Kotler is one of the world’s leading authorities on market- ing. He is the S. C. Johnson & Son Distinguished Professor of International Marketing at the Kellogg School of Management, Northwestern University. He received his master’s degree at the University of Chicago and his Ph.D. at MIT, both in economics. He did postdoctoral work in mathematics at Harvard University and in behavioral science at the University of Chicago. Dr. Kotler is the coauthor of Principles of Marketing and Marketing: An Introduction. His Strategic Marketing for Nonprofit Organizations, now in its seventh edition, is the best seller in that specialized area. Philip Kotler Dr. Kotler’s other books include Marketing Models; The New Competi- tion; Marketing Professional Services; Strategic Marketing for Educational Institutions; Marketing for Health Care Organizations; Marketing Congregations; High Visibility; Social Marketing; Marketing Places; The Marketing of Nations; Marketing for Hospitality and Tourism; Standing Room Only—Strategies for Marketing the Performing Arts; Museum Strategy and Marketing; Marketing Moves; Kotler on Marketing; Lateral Marketing: Ten Deadly Marketing Sins; and Corporate Social Responsibility. In addition, he has published more than one hundred articles in leading journals, in- cluding the Harvard Business Review, Sloan Management Review, Business Horizons, California Management Review, the Journal of Marketing, the Journal of Marketing Research, Management Science, the Journal of Business Strategy, and Futurist. He is the only three-time winner of the coveted Alpha Kappa Psi award for the best annual article published in the Journal of Marketing. Professor Kotler was the first recipient of the American Marketing Association’s (AMA) Distinguished Marketing Educator Award (1985).
    [Show full text]
  • Introduction to Retailing
    Retail Management Module – 1 Introduction to Retailing Meaning of Retailing : Retailing encompasses those business activities involved with the sale of goods and services to the final consumer for personal, family, or household use. Retailing is the final stage in a channel of distribution. Retailing functions are performed by any firm selling merchandise or providing services to the final consumer. According to Philip Kotler : “Retailing includes al the activities involved in selling goods or services to the final customers for personal, non – business use.” Functions of Retailing - : 1. Understanding the Needs of Consumers – Knowing and understanding customer needs is at the centre of every successful business. Therefore, a retailer should clearly understand needs of his target customers. Every retailer should know the reason for their customers to buy from them and not from their competitors. This is called Unique Selling Proposition {USP}. USP can change as the business or market changes. A retailer can have different USPs for different types of customer. 2. Buying and Assembling – A retailer deals in different variety of goods which he purchases from different wholesalers for selling to the consumers. He tries to locate best and economical source of the supply of goods. 3. Breaking the Bulk – Manufacturers normally send their products in bulk (whole cases or cartons) to retailers to minimize transportation cost. As the retailers sell goods in smaller quantities, they should break large quantities into convenient smaller quantities. This process is called breaking the bulk. 4. Warehousing or Storing – After assembly of goods from different suppliers, the retailers preserve them in store and supply these goods to the consumers as and when required by them.
    [Show full text]
  • The Role of Marketing in Strategic Planning
    The Role of Marketing in Strategic Planning Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc. 1 Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 Strategic Planning StrategicStrategic planningplanning isis thethe processprocess ofof developingdeveloping andand maintainingmaintaining aa feasiblefeasible fitfit betweenbetween thethe organization’sorganization’s objectives,objectives, skills,skills, andand resourceresourcess andand itsits changingchanging marketingmarketing opportunities.opportunities. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc. 2 Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 Reasons for Planning • If we do not know where we are going any road will take us there. • The essence of strategic planning is the consideration of current decision alternatives in the light of their probable consequence over time. • The future is unpredictable but it is not a random walk. Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc. 3 Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 Four Organizational Levels of Large Corporations Corporate SBU Unit Functional Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc. 4 Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 The High-Performance Business Stakeholders Processes Resources Organization Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc. 5 Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 Corporate Strategic Planning– Four Planning Activities 1. Defining the corporate mission. 2. Establishing strategic business units. 3. Assigning resources to each SBU. 4. Developing growth strategies Marketing for Hospitality and Tourism, 3e ©2003 Pearson Education, Inc. 6 Philip Kotler, John Bowen, James Makens Upper Saddle River, NJ 07458 Corporate Strategic Planning (cont.) Defining the corporate mission • The mission should define the competitive scopes within which the company will operate.
    [Show full text]
  • Philip Kotler on the Future of Marketing Philip Kotler Is the “Father of Modern Marketing.” He Last 45 Years
    What Next? An Interview with Philip Kotler on the Future of Marketing Philip Kotler is the “father of modern marketing.” He last 45 years. I published Marketing Management in 1967 is the S.C. Johnson & Son Distinguished Professor of and it is now in its 15th edition. I have also written International Marketing at the Kellogg School of Management at about 50 other marketing books and over 150 Northwestern University. He was voted the first Leader in scholarly articles. Marketing Thought by the American Marketing Association and named The Founder of Modern Marketing Management in the If I am the “Father of Modern Marketing,” I would Handbook of Management Thinking. Professor Kotler holds call Peter Drucker the “Grandfather of Modern major awards including the American Marketing Association’s Marketing” for all the brilliant insights and statements (AMA) Distinguished Marketing Educator Award and that he made about the critical importance of Distinguished Educator Award from The Academy of marketing in managing a business. Marketing Science. The Sales and Marketing Executives International (SMEI) named him Marketer of the Year and the With over 50 year of experience in the field, American Marketing Association described him as “the most what do you see as the biggest challenges for influential marketer of all time.” He is in the Thinkers50 Hall marketers today? of Fame, and is featured as a “guru” in the Economist. Today marketing is Phil, you’re called the “father of undergoing a true revolution marketing”… and I am doing everything to keep up with it. Actually, marketing has several fathers of marketing.
    [Show full text]
  • The Friendship That Changed Marketing Forever
    The Friendship that Changed Marketing Forever How a 55-year friendship and intellectual partnership made marketing larger than life By Hal Conick 72 MArkETInG nEWS | JUNE 2017 MN June_2017__mm edits.indd 72 5/16/17 11:58 AM JUNE 2017 | MArkETInG nEWS 73 MN June_2017__mm edits.indd 73 5/16/17 11:58 AM Sidney Levy had become fascinated with marketing. A trained behavioral scientist, he suspected that branding went beyond soap, steel and candy bars. He’d been researching the social aspects of marketing since the 1940s and saw the field’s vast potential. In 1961, he began teaching marketing classes at Northwestern University’s Kellogg School of Management. Levy’s first year at Kellogg was an exciting time for marketing, with a booming economy, booming consumerism and a baby boom in the years after WWII. The recently invented color TV was brought into living rooms across America, carrying with it hours of previously nonexistent In 1962, Kotler was recruited to economics under Nobel laureates such ad space. A large audience was not Kellogg and told by the school that as Milton Friedman, Paul Samuelson only reachable but willing to be he could choose to teach either and Robert Solow. While Kotler reached; marketing and advertising economics or marketing. After a visit didn’t have a marketing background, became more important than ever with Levy and other members of the he—like Levy—did have a unique for big business. From 1950 to 1960, faculty, Kotler says his choice was viewpoint and a desire to refine and annual advertising expenditures in the clear: “I chose marketing.” expand the field.
    [Show full text]
  • Kotler on Strategic Marketing
    URBAN 6.20.10 Draft KOTLER ON STRATEGIC MARKETING BY John Roberts, Alvin Silk, Glen Urban (volume editor), and Jerry Wind 1.0 Introduction: Philip Kotler’s Contributions to the Field of Marketing Philip Kotler’s status as a major thought leader in marketing is widely recognized. By now, so much has been spoken and written about his contributions that it is a daunting task to attempt to add to the stock of insight and respect that has been already expressed for the many ideas that he has given us. Nonetheless, we welcome the opportunity to register our own appreciation for his achievements. Moreover, in order to provide background and establish context for the subset of his papers that address issue of Strategic Management included in this volume, we feel that we have an obligation to first offer our perspective on the nature of Philip Kotler’s overall contributions to marketing thought and practice. To this end, we emphasize his contributions in three broad areas: conceptualizing the role and tasks of marketing management; broadening the concept of marketing, and pioneering quantitative marketing. Clearly, Phil Kotler has been an “early mover” in advancing the frontiers of marketing theory and practice and has repeatedly exhibited a keen sense of how and where the field would develop and flourish. First, Kotler has developed numerous comprehensive frameworks that integrate insights and knowledge from diverse disciplinary sources and knowledge 1 of practice so as to inform and enrich our understanding of marketing management. His contributions are to be found not only in numerous journal articles but also in his widely used text, Marketing Management: Analysis, Planning, Implementation, and Control, first published in 1971 [fact check this with Phil] and now in its 13th edition (2009).
    [Show full text]
  • Marketing, the Marketing Mix (4P's), and the Nine
    Larry Steven Londre Londre Marketing Consultants, LLC 6000 South Para Way, Third Floor Los Angeles, CA 90094 310.889.0220 310.889.0221 fax www.LondreMarketing.com [email protected] Several Concepts, Terms and Useful Definitions Helping to Explain and Understand Marketing and Related Activities, including Marketing, the Marketing Concept, Marketing Mix (4P’s), and the Nine P’s (9P’s) ©2007 A number of important strategic philosophies and practices guide Marketing planning, branding tools, variables, efforts and/or Marketing relationships/partnerships/ alliances. The Nine P’s/9P’s can be used successfully by product and service companies selling directly or indirectly to consumers (B2C), to intermediaries (such as industrial, consumer, retail, wholesale and professional channels of distribution), and to other businesses (B2B). As Management guru Peter F. Drucker once said: “The aim of Marketing is to know and understand the customer so well that the product or service fits him (her/it) and sells itself. And this is one of the reason I created the Nine P’s. “People” or Targeting was forgotten in the Marketing Mix, and is major, significant part of the Nine P’s of Marketing. Concepts, Terms and Useful Definitions (Nine P’s/9P’s ©2007 start on page 4) Marketing is the process by which companies create value for customers and build strong customer relationships in order to capture value from customers in return. (Principles of Marketing, 15e, Kotler and Armstrong, 2014) Marketing: The activity , set of institutions, and processes for creating, communicating, delivering and exchanging offerings that have value for customers, clients, partners, and society at large.
    [Show full text]
  • Marketing Insights from a to Z: 80 Concepts Every Manager Needs to Know
    Praise for Marketing Insights from A to Z “The bagwan of Marketing strikes again. Leave it to Phil Kotler to revisit all of our blocking and tackling at just the right time . and as all great marketers know: ‘timing is everything.’” —Watts Wacker Founder and CEO, FirstMatter Author, The Deviant Advantage: How Fringe Ideas Create Mass Markets “Wide-ranging, readable, pithy, and right on target, these insights not only are a great refresher for marketing managers but should be required reading for all nonmarketing executives.” —Christopher Lovelock Adjunct Professor, Yale School of Management Author, Services Marketing “Kotler tackles the formidable challenge of explaining the entire world of marketing in a single book, and, remarkably, pulls it off. This book is a chance for you to rummage through the marketing toolbox, with Kotler looking over your shoulder telling you how to use each tool. Useful for both pros and those just starting out.” —Sam Hill Author, Sixty Trends in Sixty Minutes “This storehouse of marketing wisdom is an effective antidote for those who have lost sight of the basics, and a valuable road map for those seeking a mar- keting mind-set.” —George Day Geoffrey T. Boisi Professor of Marketing, Wharton School of Business “Here is anything and everything you need to know about where marketing stands today and where it’s going tomorrow. You can plunge into this tour de force at any point from A to Z and always come up with remarkable insights and guidance. Whatever your position in the business world, there is invalu- able wisdom on every page.” —Stan Rapp Coauthor, MaxiMarketing and Max-e-Marketing in the Net Future “A nourishing buffet of marketing wisdom.
    [Show full text]
  • The Strategic Retail Model
    Degree of Master in Fashion Management The Swedish School of Textiles 2013-06-03 Report no 2013.15.2 THE STRATEGIC RETAIL MODEL Christopher Gustafsson & Rikard Gustavsson – UNDERSTANDING THE CHALLENGES OF THE FUTURE OF RETAILING Acknowledgement First and foremost we would like to thank our respondents. Thank you for your time and engagement, without you the thesis would not have been possible. We also would like to thank our supervisor Jonas Larsson, PhD in Textiles and Fashion at the Swedish School of Textiles in Borås, for supporting and encouraging us in the research process. Christopher Gustafsson Rikard Gustavsson Abstract Title: The Strategic Retail Model – Understanding the Challenges of the Future of Retailing. Authors: Christopher Gustafsson and Rikard Gustavsson Publication year: 2013 Supervisor: PhD Jonas Larsson _____________________________________________________________________ Purpose The purpose of the thesis is to present, analyse and verify a self-constructed strategic retail model, consisting of four constituents: product, service, positioning and technology. Each constituent represents a focal area, which forms a basis for discussing and interpreting factors and challenges connected to the future of retailing. Additionally, the thesis aims to examine the significance of the strategic retail model in regards to the future of retailing in a fashion context. Method The study is characterised by a qualitative nature, conducted with an abductive approach. The background has been rooted in reality, taking in account the digital revolution, the assumption that traditional marketing is dead and current retail trends. The problem discussion has been based in an academic approach where the concept of business models has been elaborated, along with a presentation of the traditional marketing mix and criticism of its changing nature.
    [Show full text]
  • Unit 1 Introduction to Tourism Marketing :Approaches, Relevance and Role
    UNIT 1 INTRODUCTION TO TOURISM MARKETING :APPROACHES, RELEVANCE AND ROLE Structure Objectives Introduction Marketing : Definition and Concepts 1.2.1 Evolution of Marketing 1.2.2 Selling and Marketing 1.2.3 Business Philosophy Features of Tourism Marketing Marketing Organisations and Managers Marketing Planning Let Us Sum Up Answers to Check Your Progress Exercises 1.0 ' OBJECTIVES After reading this Unit you will be able to: - understand the definition and concepts of marketing in relation to tourism, have an idea about the relevance of marketing in tourism, differentiate between marketing and selling, learn how tb make a marketing plan, and develop some skills for marketing your own services. 1.1 INTRODUCTION Tourism Marketing is still an underdeveloped area and is often confused with selling. The tourism industry is comprised of small enterprises (travel agencies, tour operators etc.) and few among them actually adopt marketing whereas selling is done by all. However, the way tourism market is maturing, the relevance of marketingis being acknowledged more and more as an important activity for the success of the enterprise. This is also because competition is increasing. In the tourism markets (tourist generating areas or countries) such competition is getting intense among: countries to market their destinations, airliies to market their seats, hotels to sell the rooms, and tour operators to market the packages etc. A similar situation is witnessed at the destinations where competition is emerging in practically every service sector, among guides and escorts, restaurants, hotels, transporters, shops, etc. In fact you should remember that there is a tourism market where demand and supply have their role to pl^ay and the linkages between them have a bearing on marketing.
    [Show full text]
  • New Product Development and Product Life-Cycle Strategies
    Part 1: Defining Marketing and the Marketing Process (Chapters 1–2) Part 2: Understanding the Marketplace and Consumers (Chapters 3–6) Part 3: Designing a Customer-Driven Strategy and Mix (Chapters 7–17) Part 4: Extending Marketing (Chapters 18–20) New Product Development and Product Life-Cycle Strategies 9In the previous chapter, you ing different marketing strategies and tactics. Finally, we wrap up our Chapter Preview learned how marketers man- product discussion by looking at two additional considerations: social age and develop products and brands. In this chapter, we examine two responsibility in product decisions and international product and ser- additional product topics: developing new products and managing vices marketing. products through their life cycles. New products are the lifeblood of an For openers, consider Google, one of the world’s most innovative organization. However, new-product development is risky, and many companies. Google seems to come up with an almost unending flow new products fail. So, the first part of this chapter lays out a process of knock-your-eye-out new technologies and services. If it has to do for finding and growing successful new products. Once introduced, with finding, refining, or using information, there’s probably an inno- marketers want their products to enjoy long and happy lives. In the sec- vative Google solution for it. At Google, innovation isn’t just a process; ond part of this chapter, you’ll see that every product passes through it’s in the very spirit of the place. several life-cycle stages, and each stage poses new challenges requir- Google: New-Product Innovation at the Speed of Light oogle is wildly innovative.
    [Show full text]