SlideShare a Scribd company logo
1 of 37
Tourism Marketing
Amal Benny
Competition
• Competition is the rivalry between companies selling similar products and services
with the goal of achieving revenue, profit, and market-share growth. Market
competition motivates companies to increase sales volume by utilizing the four
components of the marketing mix, also referred to as the four P's. These P's stand for
product, place, promotion, and price.
• Knowing and understanding your competition is a critical step in designing a
successful marketing strategy. If you are not aware of who the competition is and
knowledgeable about their strengths and weaknesses, it's likely that another firm
could enter the picture and provide a competitive advantage, such as product
offerings at lower prices or value added benefits.
• Identifying your competition and staying informed about their products and services
is the key to remaining competitive in the market and is crucial to the survival of any
business.
These companies or organizations are very similar to yours in multiple aspects of a product
or service offering.
They may or may not compete with all the same services, the delivery might be different, or
they may have a different marketing strategy. Maybe you sell red apples and they sell green.
You market the sweetness of your apples and the competitor highlights the texture of theirs.
Sure, in some cases there is not a direct competitor, but this is not the only type.
Direct Compactors.
Indirect Compactors
Some companies offer a product or service that is different, but intended to solve the
same problem.
This might make it easy for consumers—maybe they either like apples or bananas.
You’ll never be a banana, but maybe you can convince more people that potassium isn’t
that important.
Perceived competitors
• These are the most challenging types of competitors to identify, because they require
your marketing team to stop focusing on your business and concentrate instead on
the customer’s point of view.
• Monitoring is the only way to identify this group of companies. (Social media tools like
Twitter are great for this and provide more insights than marketers had even a few
years ago.) Apple-flavored gummy vitamins may have nothing on the real fruit, but
maybe your target audience thinks they get the same vitamin C from both.
Partner competitors
• We hear a lot about strategic partnerships in the business community today, and
they can be incredibly important to your communications strategy.
• Businesses are always changing, though, and the company that might have been your
best referral source is now expanding because what you do seems like a great growth
opportunity. Say hello to the grapple (looks like an apple, tastes like a grape).
Qualitative and Quantitative Analysis
Qualitative approaches
• Qualitative approaches have the advantage of allowing for more diversity in
responses as well as the capacity to adapt to new developments or issues during the
research process itself.
• While qualitative research can be expensive and time-consuming to conduct, many
fields of research employ qualitative techniques that have been specifically developed
to provide more succinct, cost-efficient and timely results using:
• Surveys
• Competitive Analysis
• Customer Satisfaction
Quantitative methods
• Quantitative methods are often seen as providing more representative, reliable and
precise measures through focused hypotheses, measurement tools and applied
mathematics.
• By contrast, qualitative data is usually difficult to graph or display in mathematical
terms, but often used for policy and program evaluation research since it can answer
certain important questions more effectively than quantitative approaches.
Forecasting
Planning
Forecast
Customer
Production
Process
Finished
Goods
Inputs
Forecasting
Marketing: forecasts sales for new and existing products.
Production: uses sales forecasts to plan production and operations; sometimes
involved in generating sales forecasts.
Characteristics of Forecasts
• They are usually wrong
• A good forecast is usually more than a single number
• Aggregate forecast are more accurate
• The longer the forecasting horizon, the less accurate the forecasts will
be
• Forecasts should not be used to the exclusion of known information
Forecasting Horizon
Short term
(inventory management, production plans..)
Intermediate term
(sales patterns for product families..)
Long term
(long term planning of capacity needs)
Forecasting Techniques
Judgmental
Models
Time Series
Methods
Causal Methods
Forecasting
Technique
Delphi
Method
Moving
Average
Exponential
Smoothing
Regression
Analysis
Seasonality
Models
Forecasting Tourism Demand
• Forecasting is a subject that fascinates many people who are interested in
the economics of tourism.
• Estimates of future demand at destination level are very important in
managing and planning tourism development and the necessary
investment.
• However, forecasting in the tourism sector is not an easy job. The tourism
economists have developed forecasting models to predict travel demand for
every major global market and particular traveller segments.
• More important, these models have established proven track records for
accuracy. The reason is straightforward and the models are firmly-rooted in
the economic fundamentals of origin markets along with the changing
dynamics of the tourism industry and traveller preferences.
Forecasting of Tourism Applications
Firstly, the success of many businesses depends largely or totally on the state of
tourism demand, and ultimate management failure is quite often due to the failure to
meet the market demand.
Therefore, accurate forecasts of tourism demand are essential for efficient planning by
tourism-related businesses, particularly given the perishable nature of the tourism
product.
Secondly, tourism investment, especially investment in destination infrastructures
requires long-term financial commitments and the sunk costs can be very high if the
investment projects fail to fulfil their designed capacities.
As a result, the prediction of long-term demand for tourism related infrastructures
often forms an important part of the investment project appraisals.
Thirdly, government macroeconomic policies largely depend on the relative importance
of individual sectors within a destination. Hence, accurate forecasts of demand in the
tourism sector of the economy will help the destination governments in formulating and
implementing appropriate medium to long term tourism strategies.
Last but not least, the demand for tourism in a particular destination is one of the key
factors that determine the destination's competitiveness;
therefore accurate assessment of future tourism demand in the destination will help the
destination to position itself on the world market in order to compete with its competing
destinations.
Role of Technology Tourism Marketing
Coltman (1989) defines tourism marketing as “a management
philosophy that, in the light of tourist demand, makes it possible through
research, forecasting and selection to place tourism products on the
market in line with the origins purpose for greatest benefits”.
Tourism Marketing
Information Technology
Information Technology is the applications of computers and telecommunications
equipment to create , store , retrieve , transmit and manipulate data in various form
like business data, voice conversations ,still images, motion picture, multimedia
presentation.
It also include other information distribution technology such as televisions and
telephones.
Information technology helps in,
• Decision making
• Customer relationship management(CRM)
• Product management
• Brand management
• Pricing
• Digital marketing
Information technology in decision making
Decision making is one of the most significant and important activities in a
business. Decision making involves various processes which are influenced by technology.
Information technology provides a business with a Decision support system (DSS) and
Artificial intelligence (AI) system, the combination of these IT systems helps in creating
information through online analytical process (OLAP) to facilitate decision making tasks that
might require significant effort and analysis. Technology simplifies the way we make decision
in a business.
Role of IT in decision making
• Data Processing Capabilities: Technology helps to make quick business decisions by
giving the ability to slice and dice way through massive amounts of
information. Data warehouse have data mining tools which computerize the process
of making decisions.
• IT brings speed: Vast amounts of information, and sophisticated processing
capabilities useful in making a decision. IT provides great power, but the decision
maker must know what kinds of questions to ask of the information and how to
process the information to get those questions answered.
IT Supports group decision making
• Group decision support system use to make quick decisions. A (GDSS) group decision
support system is a type of decision support system that facilitates the formulation of
and solution to problems by a team. A GDSS facilitates team decision making by
integrating, groupware, DSS capabilities, and telecommunications.
Customer Relationship Management
• Customer relationship management (CRM) :is a system for managing a company’s
interactions with current and future customers. it is a term applied to processes
implemented by a company to handle its contact with its customers.
• CRM software is used to support these processes, storing information on current and
prospective customers. Information in the system can be accessed and entered by
employees in different departments, such as sales, marketing, customer service,
training, professional development, performance management , human resource
development, and compensation.
IT helps in product management
• Product management is an organizational lifecycle function within a company dealing
with the planning, forecasting, and production, or marketing of a
product or products at all stages of the product lifecycle.
Tools for product management: PRODPAD
• ProdPad is Product Management Software for the whole team. It allows to capture
ideas from the team, flesh them out into product specs that the development team can
use, and then put it on a roadmap that shows where the product is now and where it
will go in the future
IT helps in brand management
• Brand management: is the analysis and planning on how that brand is perceived in
the market. Developing a good relationship with the target market is essential
for brand management. Tangible elements of brand management include the product
itself; look, price, the packaging, etc
Tool for Brand management: WebDAM
WebDAM is an all-in-one online brand management solution that helps to align brand
assets to your brand management guidelines, brand strategy and approved usage. By
deploying brand asset management software, the business can maintain a consistent
brand which reassures the audience that the company can be trusted.
IT helps in Price management
• Price Management is a closed-loop process whereby companies analyze, plan, publish,
execute and negotiate price. Better strategies around price are necessary to combat a
highly competitive market and a global customer base.
Tool for price management: APPTIVO
• It is a price management software
• Keep the pricing updated
• Have different price lists for different customers
• Modify your pricing for a predetermined time period
• Monitor the impact of the pricing changes on the revenues
Digital marketing
• Digital marketing: is the use of electronic devices (computers) such as personal
computers, smartphones, cell phones, tablets and game consoles to engage with
stakeholders.
• Digital marketing applies technologies or platforms such as websites, e-mail, apps
and social networks.
• Digital Marketing can be through Non-internet channels like TV, Radio, SMS, etc or
through Internet channels like Social Media, E-mails ads, Banner ads, etc.
• Social Media Marketing is a component of digital marketing.
• Digital marketing is becoming more popular with marketers as it allows them to
track their Return on Investment (ROI) more accurately compared to other
traditional marketing channels
1. Online Marketing,websites And Emails
Accessibility of Internet and popularity of the smart phones created a new way of how people connect.
Customers are no longer just browsing the Internet; they interact online, whether it is via social media
sites, review sites, chats, blogs, wikis or emails. Anyone can post a review on TripAdvisor, share a post
with their Facebook friends, upload the tour photos on Flickr.This means tour businesses that do not
have a website can also have an internet identity.
The Internet changes the balance power between the company and the consumers, creating human
connections, interactions between users.
2. Social Media Marketing
Most tour or activity operators will justify their refusal to participate by saying that their prospects
don’t hang out there, so it would be an ineffective communication tool. But even if you think most of
your customers aren’t on social media networks (and even if you’re right), there are still other
reasons why you should be using them having social media accounts actually helps you rank on
Google’s search results page.
There are obvious reasons why you want to be on that page for keywords related to your products or
services; people trust Google, so more people will find you through it, and hopefully a large
proportion of them will then make an online booking through your site.
3. E-tourism
E-tourism Determines The Competitiveness Of The Organisation By Taking Advantage
Of Intranets For Reorganising Internal Processes, Extranets For Developing
Transactions With Trusted Partners And The Internet For Interacting With All Its
Stakeholders And Customers.
The E-tourism Concept Includes All Business Functions (I.E., E-commerce, E-
marketing, E-finance And E-accounting, Ehrm, E-procurement, Er&d, E-production)
As Well As E-strategy, E-planning And E-management For All Sectors Of The Tourism
Industry, Including Tourism, Travel, Transport, Leisure, Hospitality, Principals,
Intermediaries And Public Sector Organisations.
Tourism Related Software Products
1. Tour Visio Tour Operator Software
2. Tailor MadeTour
3. Amedius
4. Galilieo
5. Abacus
6. Sabre
Thank You 

More Related Content

What's hot

Marketing ,Promotions & Sales in Travel Agency
Marketing ,Promotions & Sales in Travel AgencyMarketing ,Promotions & Sales in Travel Agency
Marketing ,Promotions & Sales in Travel AgencyMonte Christo
 
Marketing in the travel and tourism industry
Marketing in the travel and tourism industryMarketing in the travel and tourism industry
Marketing in the travel and tourism industryAgon Balaj
 
Unit 1 introduction to tourism marketing- approaches relevance and role
Unit 1 introduction to tourism marketing- approaches relevance and roleUnit 1 introduction to tourism marketing- approaches relevance and role
Unit 1 introduction to tourism marketing- approaches relevance and roleYatendra Jainer
 
Hospitality marketing
Hospitality marketingHospitality marketing
Hospitality marketingvasu dev
 
Marketing strategy of a destination
Marketing strategy of a destinationMarketing strategy of a destination
Marketing strategy of a destinationtellstptrisakti
 
Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...
Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...
Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...Md Shaifullar Rabbi
 
Chapter 4 Creating and Implementing the Promotion(Tourism and Hospitality Ma...
Chapter 4  Creating and Implementing the Promotion(Tourism and Hospitality Ma...Chapter 4  Creating and Implementing the Promotion(Tourism and Hospitality Ma...
Chapter 4 Creating and Implementing the Promotion(Tourism and Hospitality Ma...Md Shaifullar Rabbi
 
Tour 104 Introduction to Tourism Marketing
Tour 104   Introduction to Tourism MarketingTour 104   Introduction to Tourism Marketing
Tour 104 Introduction to Tourism MarketingCris dela Peña
 
25.marketing strategies tourism industry (2)
25.marketing strategies   tourism industry (2)25.marketing strategies   tourism industry (2)
25.marketing strategies tourism industry (2)Pankaj Soni
 
Segmentation, Targeting and Positioning in Tourism ppt
Segmentation, Targeting and Positioning in Tourism pptSegmentation, Targeting and Positioning in Tourism ppt
Segmentation, Targeting and Positioning in Tourism pptSriDevi Mohan
 
Tourism Marketing Chapter 1
Tourism Marketing Chapter 1Tourism Marketing Chapter 1
Tourism Marketing Chapter 1Sha Zabala-Batin
 
Tourism marketing
Tourism marketingTourism marketing
Tourism marketingjpbbk
 
Tourismmarketing and promotion
Tourismmarketing and promotionTourismmarketing and promotion
Tourismmarketing and promotionmscaryl
 
Introduction to Hospitality Marketing
Introduction to Hospitality MarketingIntroduction to Hospitality Marketing
Introduction to Hospitality MarketingNur Agustinus
 

What's hot (20)

Marketing ,Promotions & Sales in Travel Agency
Marketing ,Promotions & Sales in Travel AgencyMarketing ,Promotions & Sales in Travel Agency
Marketing ,Promotions & Sales in Travel Agency
 
Marketing in the travel and tourism industry
Marketing in the travel and tourism industryMarketing in the travel and tourism industry
Marketing in the travel and tourism industry
 
Destination marketing yac
Destination marketing yacDestination marketing yac
Destination marketing yac
 
Tourism marketing
Tourism marketingTourism marketing
Tourism marketing
 
Unit 1 introduction to tourism marketing- approaches relevance and role
Unit 1 introduction to tourism marketing- approaches relevance and roleUnit 1 introduction to tourism marketing- approaches relevance and role
Unit 1 introduction to tourism marketing- approaches relevance and role
 
Hospitality marketing
Hospitality marketingHospitality marketing
Hospitality marketing
 
Marketing strategy of a destination
Marketing strategy of a destinationMarketing strategy of a destination
Marketing strategy of a destination
 
Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...
Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...
Tourism Marketing and Future-Tourism Marketing (Tourism & Hospitality Managem...
 
Chapter 4 Creating and Implementing the Promotion(Tourism and Hospitality Ma...
Chapter 4  Creating and Implementing the Promotion(Tourism and Hospitality Ma...Chapter 4  Creating and Implementing the Promotion(Tourism and Hospitality Ma...
Chapter 4 Creating and Implementing the Promotion(Tourism and Hospitality Ma...
 
Tour 104 Introduction to Tourism Marketing
Tour 104   Introduction to Tourism MarketingTour 104   Introduction to Tourism Marketing
Tour 104 Introduction to Tourism Marketing
 
25.marketing strategies tourism industry (2)
25.marketing strategies   tourism industry (2)25.marketing strategies   tourism industry (2)
25.marketing strategies tourism industry (2)
 
Tourism Marketing
Tourism MarketingTourism Marketing
Tourism Marketing
 
Segmentation, Targeting and Positioning in Tourism ppt
Segmentation, Targeting and Positioning in Tourism pptSegmentation, Targeting and Positioning in Tourism ppt
Segmentation, Targeting and Positioning in Tourism ppt
 
Tourism Marketing Chapter 1
Tourism Marketing Chapter 1Tourism Marketing Chapter 1
Tourism Marketing Chapter 1
 
Marketing Strategies
Marketing StrategiesMarketing Strategies
Marketing Strategies
 
Tourism marketing
Tourism marketingTourism marketing
Tourism marketing
 
Tourismmarketing and promotion
Tourismmarketing and promotionTourismmarketing and promotion
Tourismmarketing and promotion
 
Tourism marketing
Tourism marketingTourism marketing
Tourism marketing
 
Introduction to Hospitality Marketing
Introduction to Hospitality MarketingIntroduction to Hospitality Marketing
Introduction to Hospitality Marketing
 
Tourism marketing for the 21st century
Tourism marketing for the 21st centuryTourism marketing for the 21st century
Tourism marketing for the 21st century
 

Similar to Tourism Marketing Techniques and Forecasting

Unit I-Final MArketing analytics unit 1 ppt
Unit I-Final MArketing analytics unit 1 pptUnit I-Final MArketing analytics unit 1 ppt
Unit I-Final MArketing analytics unit 1 pptPriyadharshiniG41
 
Marketing Analytics Meets Artificial Intelligence: Six Strategies for Success
Marketing Analytics Meets Artificial Intelligence: Six Strategies for SuccessMarketing Analytics Meets Artificial Intelligence: Six Strategies for Success
Marketing Analytics Meets Artificial Intelligence: Six Strategies for SuccessMiguel Mello
 
6 Key best practices to enhance Marketing with AI
6 Key best practices to enhance Marketing with AI6 Key best practices to enhance Marketing with AI
6 Key best practices to enhance Marketing with AISophie LEHMANN
 
SME Consulting - Marketing Analysis Tools
SME Consulting - Marketing Analysis ToolsSME Consulting - Marketing Analysis Tools
SME Consulting - Marketing Analysis ToolsSME Consulting
 
A study on marketing strategies in mba infosoft pvt. ltd
A study on marketing strategies in mba infosoft pvt. ltdA study on marketing strategies in mba infosoft pvt. ltd
A study on marketing strategies in mba infosoft pvt. ltdPrateek Gahlot
 
Customer journey attribution, a question of science & art
Customer journey attribution, a question of science & artCustomer journey attribution, a question of science & art
Customer journey attribution, a question of science & artDavid Judd
 
Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...
Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...
Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...Gina Shaw
 
2016 Lead Nurturing Report In Partnership With Salesforce Pardot
2016 Lead Nurturing Report In Partnership With Salesforce Pardot2016 Lead Nurturing Report In Partnership With Salesforce Pardot
2016 Lead Nurturing Report In Partnership With Salesforce PardotVeena Glover
 
Data mining in marketing
Data mining in marketingData mining in marketing
Data mining in marketingrushabhs002
 
There are ten guidelines with a broad coverage, ranging from develop.pdf
There are ten guidelines with a broad coverage, ranging from develop.pdfThere are ten guidelines with a broad coverage, ranging from develop.pdf
There are ten guidelines with a broad coverage, ranging from develop.pdfsudhirchourasia86
 
Stepping Up to the Challenges of Digital Marketing
Stepping Up to the Challenges of Digital MarketingStepping Up to the Challenges of Digital Marketing
Stepping Up to the Challenges of Digital MarketingCognizant
 
Business and digital marketing, 7ps of marketing.
Business and digital marketing, 7ps of marketing.Business and digital marketing, 7ps of marketing.
Business and digital marketing, 7ps of marketing.let's learn
 
Business Analytics in Fashion marketing
Business Analytics in Fashion marketingBusiness Analytics in Fashion marketing
Business Analytics in Fashion marketingTaanyaGupta1
 
Liferay overview of predicitve analytics
Liferay overview of predicitve analyticsLiferay overview of predicitve analytics
Liferay overview of predicitve analyticsJoe Brandenburg
 
The Age Of New Reality Marketing V5.1 Final
The Age Of New Reality Marketing V5.1 FinalThe Age Of New Reality Marketing V5.1 Final
The Age Of New Reality Marketing V5.1 FinalTony Mooney
 
Enterprations Weekly Strategy, Number 2, December 2016
Enterprations Weekly Strategy, Number 2, December 2016Enterprations Weekly Strategy, Number 2, December 2016
Enterprations Weekly Strategy, Number 2, December 2016Mutiu Iyanda, mMBA, ASM
 
10 crucial-questions-markeing-intelligence-platform
10 crucial-questions-markeing-intelligence-platform10 crucial-questions-markeing-intelligence-platform
10 crucial-questions-markeing-intelligence-platformJim Nichols
 

Similar to Tourism Marketing Techniques and Forecasting (20)

Unit I-Final MArketing analytics unit 1 ppt
Unit I-Final MArketing analytics unit 1 pptUnit I-Final MArketing analytics unit 1 ppt
Unit I-Final MArketing analytics unit 1 ppt
 
Marketing Analytics Meets Artificial Intelligence: Six Strategies for Success
Marketing Analytics Meets Artificial Intelligence: Six Strategies for SuccessMarketing Analytics Meets Artificial Intelligence: Six Strategies for Success
Marketing Analytics Meets Artificial Intelligence: Six Strategies for Success
 
6 Key best practices to enhance Marketing with AI
6 Key best practices to enhance Marketing with AI6 Key best practices to enhance Marketing with AI
6 Key best practices to enhance Marketing with AI
 
SME Consulting - Marketing Analysis Tools
SME Consulting - Marketing Analysis ToolsSME Consulting - Marketing Analysis Tools
SME Consulting - Marketing Analysis Tools
 
A study on marketing strategies in mba infosoft pvt. ltd
A study on marketing strategies in mba infosoft pvt. ltdA study on marketing strategies in mba infosoft pvt. ltd
A study on marketing strategies in mba infosoft pvt. ltd
 
DATA SCIENCE IN MARKETING.pdf
DATA SCIENCE IN MARKETING.pdfDATA SCIENCE IN MARKETING.pdf
DATA SCIENCE IN MARKETING.pdf
 
Customer journey attribution, a question of science & art
Customer journey attribution, a question of science & artCustomer journey attribution, a question of science & art
Customer journey attribution, a question of science & art
 
Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...
Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...
Driving Marketing Efficiency In The Consumer Goods Business With Advanced Ana...
 
2016 Lead Nurturing Report In Partnership With Salesforce Pardot
2016 Lead Nurturing Report In Partnership With Salesforce Pardot2016 Lead Nurturing Report In Partnership With Salesforce Pardot
2016 Lead Nurturing Report In Partnership With Salesforce Pardot
 
Data mining in marketing
Data mining in marketingData mining in marketing
Data mining in marketing
 
There are ten guidelines with a broad coverage, ranging from develop.pdf
There are ten guidelines with a broad coverage, ranging from develop.pdfThere are ten guidelines with a broad coverage, ranging from develop.pdf
There are ten guidelines with a broad coverage, ranging from develop.pdf
 
Stepping Up to the Challenges of Digital Marketing
Stepping Up to the Challenges of Digital MarketingStepping Up to the Challenges of Digital Marketing
Stepping Up to the Challenges of Digital Marketing
 
Business and digital marketing, 7ps of marketing.
Business and digital marketing, 7ps of marketing.Business and digital marketing, 7ps of marketing.
Business and digital marketing, 7ps of marketing.
 
B2B data best practice guide
B2B data best practice guideB2B data best practice guide
B2B data best practice guide
 
Business Analytics in Fashion marketing
Business Analytics in Fashion marketingBusiness Analytics in Fashion marketing
Business Analytics in Fashion marketing
 
Digital marketing essentials module 4
Digital marketing essentials module 4Digital marketing essentials module 4
Digital marketing essentials module 4
 
Liferay overview of predicitve analytics
Liferay overview of predicitve analyticsLiferay overview of predicitve analytics
Liferay overview of predicitve analytics
 
The Age Of New Reality Marketing V5.1 Final
The Age Of New Reality Marketing V5.1 FinalThe Age Of New Reality Marketing V5.1 Final
The Age Of New Reality Marketing V5.1 Final
 
Enterprations Weekly Strategy, Number 2, December 2016
Enterprations Weekly Strategy, Number 2, December 2016Enterprations Weekly Strategy, Number 2, December 2016
Enterprations Weekly Strategy, Number 2, December 2016
 
10 crucial-questions-markeing-intelligence-platform
10 crucial-questions-markeing-intelligence-platform10 crucial-questions-markeing-intelligence-platform
10 crucial-questions-markeing-intelligence-platform
 

More from noT yeT woRkiNg !! iM stiLl stUdYinG !! (7)

Sources of funding in five year plans.
Sources of funding in five year plans.Sources of funding in five year plans.
Sources of funding in five year plans.
 
Relationship marketing
Relationship marketingRelationship marketing
Relationship marketing
 
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENTSECURITY ANALYSIS AND PORTFOLIO MANAGEMENT
SECURITY ANALYSIS AND PORTFOLIO MANAGEMENT
 
Personal enpowerment
Personal enpowerment Personal enpowerment
Personal enpowerment
 
Marketing Introduction - Concepts and Needs
Marketing Introduction - Concepts and NeedsMarketing Introduction - Concepts and Needs
Marketing Introduction - Concepts and Needs
 
Digital banking
Digital bankingDigital banking
Digital banking
 
Capitalization and capital structure
Capitalization and capital structureCapitalization and capital structure
Capitalization and capital structure
 

Recently uploaded

TAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto SectorTAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto SectorSocial Samosa
 
定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一
定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一
定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一s SS
 
Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdfSnapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdfEastern Online-iSURVEY
 
McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)DEVARAJV16
 
Cost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surgesCost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surgesPushON Ltd
 
2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)Jomer Gregorio
 
Omnichannel Marketing: Defining Omnichannel Marketing
Omnichannel Marketing: Defining Omnichannel MarketingOmnichannel Marketing: Defining Omnichannel Marketing
Omnichannel Marketing: Defining Omnichannel MarketingDove Soft Ltd
 
Local SEO Domination: Put your business at the forefront of local searches!
Local SEO Domination:  Put your business at the forefront of local searches!Local SEO Domination:  Put your business at the forefront of local searches!
Local SEO Domination: Put your business at the forefront of local searches!dstvtechnician
 
What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?Juan Pineda
 
Influencer Marketing Power point presentation
Influencer Marketing  Power point presentationInfluencer Marketing  Power point presentation
Influencer Marketing Power point presentationdgtivemarketingagenc
 
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptxBrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptxcollette15
 
Call Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCR
Call Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCRCall Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCR
Call Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCRlizamodels9
 
How videos can elevate your Google rankings and improve your EEAT - Benjamin ...
How videos can elevate your Google rankings and improve your EEAT - Benjamin ...How videos can elevate your Google rankings and improve your EEAT - Benjamin ...
How videos can elevate your Google rankings and improve your EEAT - Benjamin ...Benjamin Szturmaj
 
The Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship DeckThe Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship DeckToluwanimi Balogun
 
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing StrategyDIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing StrategySouvikRay24
 
The Impact of Digital Technologies
The Impact of Digital Technologies The Impact of Digital Technologies
The Impact of Digital Technologies bruguardarib
 
DGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdf
DGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdfDGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdf
DGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdfDemandbase
 
Avoid the 2025 web accessibility rush: do not fear WCAG compliance
Avoid the 2025 web accessibility rush: do not fear WCAG complianceAvoid the 2025 web accessibility rush: do not fear WCAG compliance
Avoid the 2025 web accessibility rush: do not fear WCAG complianceDamien ROBERT
 
Red bull marketing presentation pptxxxxx
Red bull marketing presentation pptxxxxxRed bull marketing presentation pptxxxxx
Red bull marketing presentation pptxxxxx216310017
 
marketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdfmarketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdfarsathsahil
 

Recently uploaded (20)

TAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto SectorTAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
TAM AdEx 2023 Cross Media Advertising Recap - Auto Sector
 
定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一
定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一
定制(ULV毕业证书)拉文大学毕业证成绩单原版一比一
 
Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdfSnapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdf
Snapshot of Consumer Behaviors of March 2024-EOLiSurvey (EN).pdf
 
McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)McDonald's: A Journey Through Time (PPT)
McDonald's: A Journey Through Time (PPT)
 
Cost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surgesCost-effective tactics for navigating CPC surges
Cost-effective tactics for navigating CPC surges
 
2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)2024 SEO Trends for Business Success (WSA)
2024 SEO Trends for Business Success (WSA)
 
Omnichannel Marketing: Defining Omnichannel Marketing
Omnichannel Marketing: Defining Omnichannel MarketingOmnichannel Marketing: Defining Omnichannel Marketing
Omnichannel Marketing: Defining Omnichannel Marketing
 
Local SEO Domination: Put your business at the forefront of local searches!
Local SEO Domination:  Put your business at the forefront of local searches!Local SEO Domination:  Put your business at the forefront of local searches!
Local SEO Domination: Put your business at the forefront of local searches!
 
What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?What are the 4 characteristics of CTAs that convert?
What are the 4 characteristics of CTAs that convert?
 
Influencer Marketing Power point presentation
Influencer Marketing  Power point presentationInfluencer Marketing  Power point presentation
Influencer Marketing Power point presentation
 
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptxBrightonSEO -  Addressing SEO & CX - CMDL - Apr 24 .pptx
BrightonSEO - Addressing SEO & CX - CMDL - Apr 24 .pptx
 
Call Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCR
Call Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCRCall Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCR
Call Girls In Aerocity Delhi ❤️8860477959 Good Looking Escorts In 24/7 Delhi NCR
 
How videos can elevate your Google rankings and improve your EEAT - Benjamin ...
How videos can elevate your Google rankings and improve your EEAT - Benjamin ...How videos can elevate your Google rankings and improve your EEAT - Benjamin ...
How videos can elevate your Google rankings and improve your EEAT - Benjamin ...
 
The Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship DeckThe Skin Games 2024 25 - Sponsorship Deck
The Skin Games 2024 25 - Sponsorship Deck
 
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing StrategyDIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
DIGITAL MARKETING COURSE IN BTM -Influencer Marketing Strategy
 
The Impact of Digital Technologies
The Impact of Digital Technologies The Impact of Digital Technologies
The Impact of Digital Technologies
 
DGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdf
DGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdfDGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdf
DGR_Digital Advertising Strategies for a Cookieless World_Presentation.pdf
 
Avoid the 2025 web accessibility rush: do not fear WCAG compliance
Avoid the 2025 web accessibility rush: do not fear WCAG complianceAvoid the 2025 web accessibility rush: do not fear WCAG compliance
Avoid the 2025 web accessibility rush: do not fear WCAG compliance
 
Red bull marketing presentation pptxxxxx
Red bull marketing presentation pptxxxxxRed bull marketing presentation pptxxxxx
Red bull marketing presentation pptxxxxx
 
marketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdfmarketing strategy of tanishq word PPROJECT.pdf
marketing strategy of tanishq word PPROJECT.pdf
 

Tourism Marketing Techniques and Forecasting

  • 2. Competition • Competition is the rivalry between companies selling similar products and services with the goal of achieving revenue, profit, and market-share growth. Market competition motivates companies to increase sales volume by utilizing the four components of the marketing mix, also referred to as the four P's. These P's stand for product, place, promotion, and price. • Knowing and understanding your competition is a critical step in designing a successful marketing strategy. If you are not aware of who the competition is and knowledgeable about their strengths and weaknesses, it's likely that another firm could enter the picture and provide a competitive advantage, such as product offerings at lower prices or value added benefits. • Identifying your competition and staying informed about their products and services is the key to remaining competitive in the market and is crucial to the survival of any business.
  • 3. These companies or organizations are very similar to yours in multiple aspects of a product or service offering. They may or may not compete with all the same services, the delivery might be different, or they may have a different marketing strategy. Maybe you sell red apples and they sell green. You market the sweetness of your apples and the competitor highlights the texture of theirs. Sure, in some cases there is not a direct competitor, but this is not the only type. Direct Compactors.
  • 4. Indirect Compactors Some companies offer a product or service that is different, but intended to solve the same problem. This might make it easy for consumers—maybe they either like apples or bananas. You’ll never be a banana, but maybe you can convince more people that potassium isn’t that important.
  • 5. Perceived competitors • These are the most challenging types of competitors to identify, because they require your marketing team to stop focusing on your business and concentrate instead on the customer’s point of view. • Monitoring is the only way to identify this group of companies. (Social media tools like Twitter are great for this and provide more insights than marketers had even a few years ago.) Apple-flavored gummy vitamins may have nothing on the real fruit, but maybe your target audience thinks they get the same vitamin C from both.
  • 6. Partner competitors • We hear a lot about strategic partnerships in the business community today, and they can be incredibly important to your communications strategy. • Businesses are always changing, though, and the company that might have been your best referral source is now expanding because what you do seems like a great growth opportunity. Say hello to the grapple (looks like an apple, tastes like a grape).
  • 8. Qualitative approaches • Qualitative approaches have the advantage of allowing for more diversity in responses as well as the capacity to adapt to new developments or issues during the research process itself. • While qualitative research can be expensive and time-consuming to conduct, many fields of research employ qualitative techniques that have been specifically developed to provide more succinct, cost-efficient and timely results using: • Surveys • Competitive Analysis • Customer Satisfaction
  • 9. Quantitative methods • Quantitative methods are often seen as providing more representative, reliable and precise measures through focused hypotheses, measurement tools and applied mathematics. • By contrast, qualitative data is usually difficult to graph or display in mathematical terms, but often used for policy and program evaluation research since it can answer certain important questions more effectively than quantitative approaches.
  • 10.
  • 12. Forecasting Marketing: forecasts sales for new and existing products. Production: uses sales forecasts to plan production and operations; sometimes involved in generating sales forecasts.
  • 13. Characteristics of Forecasts • They are usually wrong • A good forecast is usually more than a single number • Aggregate forecast are more accurate • The longer the forecasting horizon, the less accurate the forecasts will be • Forecasts should not be used to the exclusion of known information
  • 14. Forecasting Horizon Short term (inventory management, production plans..) Intermediate term (sales patterns for product families..) Long term (long term planning of capacity needs)
  • 15. Forecasting Techniques Judgmental Models Time Series Methods Causal Methods Forecasting Technique Delphi Method Moving Average Exponential Smoothing Regression Analysis Seasonality Models
  • 16. Forecasting Tourism Demand • Forecasting is a subject that fascinates many people who are interested in the economics of tourism. • Estimates of future demand at destination level are very important in managing and planning tourism development and the necessary investment. • However, forecasting in the tourism sector is not an easy job. The tourism economists have developed forecasting models to predict travel demand for every major global market and particular traveller segments. • More important, these models have established proven track records for accuracy. The reason is straightforward and the models are firmly-rooted in the economic fundamentals of origin markets along with the changing dynamics of the tourism industry and traveller preferences.
  • 17. Forecasting of Tourism Applications Firstly, the success of many businesses depends largely or totally on the state of tourism demand, and ultimate management failure is quite often due to the failure to meet the market demand. Therefore, accurate forecasts of tourism demand are essential for efficient planning by tourism-related businesses, particularly given the perishable nature of the tourism product.
  • 18. Secondly, tourism investment, especially investment in destination infrastructures requires long-term financial commitments and the sunk costs can be very high if the investment projects fail to fulfil their designed capacities. As a result, the prediction of long-term demand for tourism related infrastructures often forms an important part of the investment project appraisals.
  • 19. Thirdly, government macroeconomic policies largely depend on the relative importance of individual sectors within a destination. Hence, accurate forecasts of demand in the tourism sector of the economy will help the destination governments in formulating and implementing appropriate medium to long term tourism strategies.
  • 20. Last but not least, the demand for tourism in a particular destination is one of the key factors that determine the destination's competitiveness; therefore accurate assessment of future tourism demand in the destination will help the destination to position itself on the world market in order to compete with its competing destinations.
  • 21. Role of Technology Tourism Marketing Coltman (1989) defines tourism marketing as “a management philosophy that, in the light of tourist demand, makes it possible through research, forecasting and selection to place tourism products on the market in line with the origins purpose for greatest benefits”. Tourism Marketing
  • 22. Information Technology Information Technology is the applications of computers and telecommunications equipment to create , store , retrieve , transmit and manipulate data in various form like business data, voice conversations ,still images, motion picture, multimedia presentation. It also include other information distribution technology such as televisions and telephones.
  • 23. Information technology helps in, • Decision making • Customer relationship management(CRM) • Product management • Brand management • Pricing • Digital marketing
  • 24. Information technology in decision making Decision making is one of the most significant and important activities in a business. Decision making involves various processes which are influenced by technology. Information technology provides a business with a Decision support system (DSS) and Artificial intelligence (AI) system, the combination of these IT systems helps in creating information through online analytical process (OLAP) to facilitate decision making tasks that might require significant effort and analysis. Technology simplifies the way we make decision in a business.
  • 25. Role of IT in decision making • Data Processing Capabilities: Technology helps to make quick business decisions by giving the ability to slice and dice way through massive amounts of information. Data warehouse have data mining tools which computerize the process of making decisions. • IT brings speed: Vast amounts of information, and sophisticated processing capabilities useful in making a decision. IT provides great power, but the decision maker must know what kinds of questions to ask of the information and how to process the information to get those questions answered.
  • 26. IT Supports group decision making • Group decision support system use to make quick decisions. A (GDSS) group decision support system is a type of decision support system that facilitates the formulation of and solution to problems by a team. A GDSS facilitates team decision making by integrating, groupware, DSS capabilities, and telecommunications.
  • 27. Customer Relationship Management • Customer relationship management (CRM) :is a system for managing a company’s interactions with current and future customers. it is a term applied to processes implemented by a company to handle its contact with its customers. • CRM software is used to support these processes, storing information on current and prospective customers. Information in the system can be accessed and entered by employees in different departments, such as sales, marketing, customer service, training, professional development, performance management , human resource development, and compensation.
  • 28. IT helps in product management • Product management is an organizational lifecycle function within a company dealing with the planning, forecasting, and production, or marketing of a product or products at all stages of the product lifecycle. Tools for product management: PRODPAD • ProdPad is Product Management Software for the whole team. It allows to capture ideas from the team, flesh them out into product specs that the development team can use, and then put it on a roadmap that shows where the product is now and where it will go in the future
  • 29. IT helps in brand management • Brand management: is the analysis and planning on how that brand is perceived in the market. Developing a good relationship with the target market is essential for brand management. Tangible elements of brand management include the product itself; look, price, the packaging, etc Tool for Brand management: WebDAM WebDAM is an all-in-one online brand management solution that helps to align brand assets to your brand management guidelines, brand strategy and approved usage. By deploying brand asset management software, the business can maintain a consistent brand which reassures the audience that the company can be trusted.
  • 30. IT helps in Price management • Price Management is a closed-loop process whereby companies analyze, plan, publish, execute and negotiate price. Better strategies around price are necessary to combat a highly competitive market and a global customer base. Tool for price management: APPTIVO • It is a price management software • Keep the pricing updated • Have different price lists for different customers • Modify your pricing for a predetermined time period • Monitor the impact of the pricing changes on the revenues
  • 31. Digital marketing • Digital marketing: is the use of electronic devices (computers) such as personal computers, smartphones, cell phones, tablets and game consoles to engage with stakeholders. • Digital marketing applies technologies or platforms such as websites, e-mail, apps and social networks. • Digital Marketing can be through Non-internet channels like TV, Radio, SMS, etc or through Internet channels like Social Media, E-mails ads, Banner ads, etc. • Social Media Marketing is a component of digital marketing. • Digital marketing is becoming more popular with marketers as it allows them to track their Return on Investment (ROI) more accurately compared to other traditional marketing channels
  • 32.
  • 33. 1. Online Marketing,websites And Emails Accessibility of Internet and popularity of the smart phones created a new way of how people connect. Customers are no longer just browsing the Internet; they interact online, whether it is via social media sites, review sites, chats, blogs, wikis or emails. Anyone can post a review on TripAdvisor, share a post with their Facebook friends, upload the tour photos on Flickr.This means tour businesses that do not have a website can also have an internet identity. The Internet changes the balance power between the company and the consumers, creating human connections, interactions between users.
  • 34. 2. Social Media Marketing Most tour or activity operators will justify their refusal to participate by saying that their prospects don’t hang out there, so it would be an ineffective communication tool. But even if you think most of your customers aren’t on social media networks (and even if you’re right), there are still other reasons why you should be using them having social media accounts actually helps you rank on Google’s search results page. There are obvious reasons why you want to be on that page for keywords related to your products or services; people trust Google, so more people will find you through it, and hopefully a large proportion of them will then make an online booking through your site.
  • 35. 3. E-tourism E-tourism Determines The Competitiveness Of The Organisation By Taking Advantage Of Intranets For Reorganising Internal Processes, Extranets For Developing Transactions With Trusted Partners And The Internet For Interacting With All Its Stakeholders And Customers. The E-tourism Concept Includes All Business Functions (I.E., E-commerce, E- marketing, E-finance And E-accounting, Ehrm, E-procurement, Er&d, E-production) As Well As E-strategy, E-planning And E-management For All Sectors Of The Tourism Industry, Including Tourism, Travel, Transport, Leisure, Hospitality, Principals, Intermediaries And Public Sector Organisations.
  • 36. Tourism Related Software Products 1. Tour Visio Tour Operator Software 2. Tailor MadeTour 3. Amedius 4. Galilieo 5. Abacus 6. Sabre