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Hot 103-Chapter 14
- 1. SQA HOT 103
- 2. The Marketing Concept Sales Management and Personal Selling Advertising Public Relations Publicity Sales Promotion Internet Marketing Leveraging Your Marketing Dollars
- 3. Theodore Levit Harvard Business School Effort to determine & meet needs & wants of current & potential customers Constantly presented with options to help solve their problems Don’t buy things , buy solutions to problems Business efficiency with clear view how to get customers Perspective customer want & need Options competitors offering Without explicit strategies Programs focused according to market
- 4. Sales Getting rid of what you have Selling to customers Persuade customers to sell ($) Convince them to give up something valuable Marketing Having what people want Art of buying from Leeds to customer needs & wants Focus on attributes of product Marketing is much broader term that includes Sales & a great deal more
- 5. Product Place Price Promotion Resource allocation • Objectives of each business Recipe of success Way of Combined Efforts • Marketing Mix
- 6. What do you sell Tangible • Guest Room, Meals etc. Intangible • Service Built-in Market Expect to be a place looks beautiful, clean & smiling friendly people want to take care of them
- 7. Where do you sell Physical location of business Local, National, International, Multinational Selling Market • Website • Telephone • Online Site for doing business & market to place product
- 8. What do you sell it for Cost + Basis Consumer Based Competitive Pricing Elasticity of Demand • Revenue Management Matching up in a way that should meet external & internal customer expectations
- 9. How do you spread word Mediums • Online, website, email, social networks Promotional Activities • Personal Selling • Advertising • Public Relations & Sponsorships Marketing • Sales Promotion • Direct Marketing Communication • Point of Purchase Communications Use promotional activities by organizing & combining in a way to produce synergistic effect
- 10. Blueprint of Organization Business's marketing activities & strategies Regular activity yearly, 2/3/5 years Reviewed & revised to take current conditions into account
- 11. Situation analysis Feasibility Market Place Competition Internal Data Target Audience SWOT Objectives Financial / Budgets Sales / Growth Strategies Description to achieve objectives Projected Cost Tactics Strategy Specifics Action Plan Tactics for every Strategy What to do / How to do Controls Anticipated results Flexible, Review & Revised Plan working & make adjustments
- 12. Increase property revenue • Personal Sales Calls • Telephone Calls • Correspondence Establish guidelines Assisting GM to maximize sales effort Periodic Sales Meeting Maintain Sales Reports & update record
- 13. Innovative, Risk Taking & Surpass Previous Levels Mission oriented & Goal Oriented Personal Problem Solver & Skill Upgrader Partner with customer & Team player Rejection as learning tool Mental Rehearsal before Sales Call
- 14. Substitute of Salesmanship Extended Reach where Salesperson can’t Repetitive & Hammering Increase Value of Product & Services Gain Customer Confidence Wasting Money Brand Name Security Assistance of Consistence Quality Self esteem, Impression & Reputation
- 15. It is paid for, by sponsor rather than, run at discretion of the medium It is impersonal It identifies sponsor of message It is influential Planned communication activity in which messages in mass media are used to persuade audiences to adopt goods, services or ideas
- 16. Competitive advantage Clear difference with competitor Satisfies customer need Important difference & features customer don’t care Similar Important feature but not advertised Unique positioning Get inside prospect’s mind Concentrate on perception of prospect Link message with prospect already know about Segmented market Target Marketing Various Segmentation
- 17. • Wealthy, pay for comfort, like to be pamperedIndulgers • Read & Talk, recommendationsDreamers • Chance to relax, save money, price/value anxiousEconomizers • Young, new experiences culture/peopleAdventurers • Afraid to travel, less confident, need agents/guideWorriers
- 18. Create Place Marketing Strategist Artists Writers Production Managers Media Selection Fee Basis / Commission Basis
- 20. Print • Draw Attention • Promise to Deliver • Signature Broadcast • Make 'em laugh • Make 'em bond • Find out what they really like Electronic • Attention • Attraction • Affinity • Audience • Action
- 21. Goals Product & Services are better known Improved Relationship with employees Improved Public Reputation Process Research/fact-finding Planning Action Communication Measurement/evaluation
- 22. Develop & Improve Relationship Public Relations Technique Free Advertising, Openings & Grand Openings, News Release, Travel Editors & Bloggers
- 23. Sales Tools Sales Techniques Staff & TA commissions, familiarization trips Loyalty & Frequent Flyer Programs
- 24. E-mail Advertising & Promotion • Least costly method of marketing • Frequent Flyer Programs • Thank & increase interest in programs • Links embedded Social Media • Classroom listening to lecture • Roundtable discussion • One to Many or Many to Many • Sharing of opinion & information • Blogs • Micro Blogs, Twitter • Social Networks, FB/LinkedIn • Media Sharing, YouTube
- 25. Good News • Lot of Customers • Want to buy a lot • Learning new products Bad News • Too much advertising • Customer turned off Multiculturism Aging Population Internet Search Engine Viral advertising Using all new techniques & more Leveraging Your Marketing Dollar
- 26. Any questions