Term
| Marketing Information System (MIS) |
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Definition
| consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers |
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| includes everyday information about developments in the marketing environment that helps managers prepare and adjust marketing plans and short-run tactics |
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| Forms of marketing intelligence: |
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Definition
Internal company records
External marketing intelligence
Competitive information
Marketing research |
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Definition
| contain all customer information in a single, accessible source |
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| Internal Marketing Intelligence |
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Definition
Company executives
Hotel owners and managers
Contact personnel |
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| External Marketing Intelligence |
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Definition
Macro market information
Competitive information
New innovation and trends |
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Definition
refers to what drives visitors to destinations or other hospitality businesses
Examples: beaches, rivers, mountains, and canyons |
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Definition
Conducted over multiple points in time
Can detect shifts in:
Consumer preference
Behavior
Published by trade organizations and private sector firms |
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Definition
Research aimed at the development of comprehensive profiles for:
Existing customers
Prospective customers |
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| Formal marketing research |
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Definition
Objective and empirical collection of information about customers
Not secondary or ad hoc |
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Definition
| Conducted on behalf of an organization for its use |
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Definition
Exploratory research
No generalizable information yielded
Rich data on attitudes and behavior
Small sample size
Focus group
Personal interview
Structured
Semi-structured
Unstructured |
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| Descriptive quantitative research |
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Definition
How many?
How often?
Likes/dislikes
Demography
Group differences |
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| Inferential quantitative research |
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Definition
Generalize to a larger population
Allows for multivariate analysis |
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| Descriptive and Inferential |
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Definition
Determined from the overarching problem/opportunity management would like to explore through research
Business decisions to be made from the findings of the research |
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What we want to find out
Flows from the research problem
Answers the questions to “what we expect to know” |
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Each member has equal opportunity at being selected
Random sample collected with no biases |
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Convenience Sample
Judgement Sample
Quota Sample |
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Definition
Current, potential, or both
All persons displaying behaviors of interest
Homogeneous |
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Definition
Sub-set of the population
Representative of the population
Probability sample |
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Definition
| Participants are chosen based on the ease of being able to obtain information from them |
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| Researcher uses his or her judgment to select participants who are good prospects for accurate information |
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| Researcher finds and interviews a prescribed number of people in each of several categories |
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“Consistency of measurement over different points in time”
Data that is ____ is not always valid |
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Definition
“Whether or not the data represent true and accurate measures of the variables under study”
Data that is ____ is always reliable
Forms of ____:
Face, construct, internal |
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| very active in all holiday markets and look for new experiences. They are high spenders and are prepared to pay a premium for what they want |
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| Independent in mind and actions and are less likely to be looking for relaxation on holiday. They buy on function and value and are interested in new options |
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Definition
| They are cost focused and often respond to special deals. They care what other people think and are happy to buy packaged options |
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| Separating your product in the mind of the consumer so that they will choose you over the competition |
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Definition
| all actual and potential buyers of a product or service |
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Definition
| A more refined, smaller segment of the market consisting of a set of buyers who share common needs or characteristics that the company decides to serve |
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Definition
The process of separating and selecting customers that have similar needs and wants on one or more dimensions
Complementary strategy to differentiation
Divides market by customers’ different needs and wants
Which comes first?
Used in combination at different times based on different needs
Both are strategic parts of the marketing concept |
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Definition
Size, purchasing power, profiles
of segments can be measured. |
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Definition
Segments can be effectively
reached and served. |
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| Segments are large or profitable enough to serve. Warrants investment |
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| Exercise prudence when assessing the long-term potential. Be ware of fads |
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Defendable from competitors.
Each group requires individual
attention |
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Definition
Distinct or unique offering for
customers. Services should fit
needs of customers as precisely as
possible |
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Segments are heterogeneous
between each other but _____ from within |
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Definition
Does not conflict with any other
markets already being served |
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All communications between the firm and the target market that increase the tangibility of the product/service mix, that establish or monitor consumer expectations, or that persuade customers to purchase
Advertising, Merchandising, Sales promotions, Public relations, and Personal Selling |
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Definition
| To plan, implement, and control persuasive communication with customers |
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| Who? Why? What? How? How Ofter? Where? |
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| ___ the communication mix through distribution channels which then get to the customer |
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| ___ the mix directly to the market/customers who will then go through the distribution channels |
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Definition
Mass communication that is paid for
The most visible element of the communications mix with broadest reach. Most expensive
The roles of ______:
Create awareness, persuade, reinforce purchase behavior, positioning
Hospitality: create and maintain awarenessallocate resources to where they will do the most good
Tangibilize the intangible
Provide a solution to a problem
Differentiate from the competition
Create positive effects on the employees executing the promises
Create word-of-mouth |
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Definition
Incentives to stimulate sales on a short-term basis
Development and execution of an event outside the normal day-to-day business
Goals:
(1) Increase satisfaction of guest
(2) Increase revenues for business |
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Definition
Planned management of the media’s and community’s perception
Positively presenting the product to increase publicity
An ongoing task in marketing
Creates and reinforces the firm’s image for the public as well as employees
Creates favorable attitudes towards firm
Firm vs. In house
Management participation in the community can represent the firm |
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Definition
Converting negative publicity to a less negative or more positive form by those affected
Be prepared
Stick to the facts
Tell your story through a single spokesperson
Tell your story in a timely manner
Tell the truth
Do the right thing!
Essentially, do not do what Chris Brown did! |
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| the stage at which the buyer has emotions and feelings toward the product. |
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| the stage at which the buyer has beliefs about a product |
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| promotional material such as brochures, flyers, directions, and so on, used for customer information and to create interest. |
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| the stage at which the buyer has the intention or readiness to buy |
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| the products that immediately come to mind when a person is considering a purchase. |
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| advertising to keep the name in front of the market for quick recognition and as part of the evoked set |
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Definition
| using emotions to persuade |
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| people using the product in a normal lifestyle setting |
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| keeping tabs on advertising effectiveness by response or other cues |
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| the promoting of additional items for purchase by the customer who is already purchasing something from us. |
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| source credibility, belief appeals |
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Definition
| Segment by country, city, media market, town, part of a city or neighborhood |
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| Segment price between product classes or within a product class |
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| Segment by comfort, prestige, price, recognition, attention, romance, quiet, or safety |
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| Segment by purpose, frequency of use, monetary value, recency of use, RFM, timing, nature of purchase, where they go, purchase occasion of heavy, medium, or light usage |
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| Psychographic segmentation |
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Definition
| Segment by activities, interests, opinions, self-concepts, and lifestyle behaviors |
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Definition
| Segment by income, race, age, nationality, religion, gender, or education |
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