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Marketing for Hospitality and Tourism, Global Edition

Marketing for Hospitality and Tourism, Global Edition

Philip T. Kotler | John T. Bowen | James Makens | Seyhmus Baloglu

(2016)

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Book Details

Abstract

For courses in Hospitality Marketing, Tourism Marketing, Restaurant Marketing, or Hotel Marketing.

 

Marketing for Hospitality and Tourism, 7/e is the definitive source for hospitality marketing.

Taking an integrative approach, this highly visual, four-color book discusses hospitality marketing from a team perspective, examining each hospitality department and its role in the marketing mechanism. These best-selling authors are known as leading marketing educators and their book, a global phenomenon, is the leading resource on hospitality and tourism marketing. The Seventh Edition of this popular book includes new and updated coverage of social media, destination tourism and other current industry trends, authentic industry cases, and hands-on application activities.


Table of Contents

Section Title Page Action Price
Cover Cover
Title Page 1
Copyright Page 2
Brief Contents 4
Contents 6
To the Student 14
Preface 18
About the Authors 21
Part I Understanding the Hospitality and Tourism Marketing Process 23
1 Introduction: Marketing for Hospitality and Tourism 25
YOUR PASSPORT TO SUCCESS 27
CUSTOMER ORIENTATION 28
WHAT IS HOSPITALITY AND TOURISM MARKETING? 29
MARKETING IN THE HOSPITALITY INDUSTRY 30
Importance of Marketing 30
Tourism Marketing 30
Definition of Marketing 31
The Marketing Process 31
UNDERSTANDING THE MARKETPLACE AND CUSTOMER NEEDS 31
Customer Needs, Wants, and Demands 31
Market Offerings: Tangible Products, Services, and Experiences 32
Customer Value and Satisfaction 33
Exchanges and Relationships 34
Markets 34
DESIGNING CUSTOMER VALUE-DRIVEN MARKETING STRATEGY 34
Selecting Customers to Serve 35
MARKETING HIGHLIGHT: JET BLUE DELIGHTS ITS CUSTOMERS 35
Marketing Management Orientations 36
PREPARING AN INTEGRATED MARKETING PLAN 38
BUILDING CUSTOMER RELATIONSHIPS 38
Customer Relationship Management 38
Engaging Customers 40
Partner Relationship Management 42
CAPTURING VALUE FROM CUSTOMERS 42
Customer Loyalty and Retention 42
Growing Share of Customer 43
Building Customer Equity 43
What Is Customer Equity? 43
Building the Right Relationships with the Right Customers 44
THE CHANGING MARKETING LANDSCAPE 44
The Digital Age: Online, Mobile, and Social Media Marketing 44
The Changing Economic Environment 46
Rapid Globalization 47
Sustainable Marketing—The Call for More Environmental and Social Responsibility 47
Co-Creation 48
The Sharing Economy 48
MARKETING’S FUTURE 49
CHAPTER REVIEW 49
DISCUSSION QUESTIONS 51
EXPERIENTIAL EXERCISES 51
INTERNET EXERCISES 52
REFERENCES 52
2 Service Characteristics of Hospitality and Tourism Marketing 55
THE SERVICE CULTURE 56
CHARACTERISTICS OF SERVICE MARKETING 57
Intangibility 57
Physical Evidence 58
Inseparability 58
Variability 59
Perishability 60
SERVICE MANAGEMENT CONCEPTS FOR THE HOSPITALITY INDUSTRY 61
The Service Profit Chain 61
Three Types of Marketing 61
MANAGEMENT STRATEGIES FOR SERVICE BUSINESSES 62
Managing Service Differentiation 62
Managing Service Quality 62
MARKETING HIGHLIGHT: JETBLUE, SOUTHWEST, AND CIRQUE DU SOLEIL PROVIDE THREE EXAMPLES OF SERVICE DIFFERENTIATION 63
Managing Service Productivity 64
Resolving Customer Complaints 64
MARKETING HIGHLIGHT: RECOMMENDATIONS FOR IMPROVING SERVICE QUALITY 65
Managing Employees as Part of the Product 66
Managing Perceived Risk 67
Managing Capacity and Demand 68
CHAPTER REVIEW 73
DISCUSSION QUESTIONS 74
EXPERIENTIAL EXERCISES 74
INTERNET EXERCISES 75
REFERENCES 75
3 The Role of Marketing in Strategic Planning 77
NATURE OF HIGH-PERFORMANCE BUSINESS 79
Stakeholders 79
Processes 80
Resources 80
Organization 81
CORPORATE STRATEGIC PLANNING: DEFINING MARKETING’S ROLE 81
Defining the Corporate Mission 82
Setting Company Objectives and Goals 84
Designing the Business Portfolio 85
MARKETING HIGHLIGHT: STARBUCKS COFFEE: WHERE GROWTH IS REALLY PERKING 87
PLANNING MARKETING: PARTNERING TO BUILD CUSTOMER RELATIONSHIPS 90
Partnering with Other Company Departments 90
Partnering with Others in the Marketing System 90
MARKETING STRATEGY AND THE MARKETING MIX 91
Customer Value-Driven Marketing Strategy 92
Developing an Integrated Marketing Mix 93
MANAGING THE MARKETING EFFORT 94
Marketing Analysis 94
Goal Formulation 97
Marketing Planning 98
Implementation 98
Feedback and Control 98
MEASURING AND MANAGING RETURN ON MARKETING INVESTMENT 99
CHAPTER REVIEW 100
DISCUSSION QUESTIONS 101
EXPERIENTIAL EXERCISES 102
INTERNET EXERCISES 102
REFERENCES 102
Part II Developing Hospitality and Tourism Marketing Opportunities and Strategies 105
4 The Marketing Environment 107
THE COMPANY’S MICROENVIRONMENT 109
The Company 109
Existing Competitors 110
Suppliers 111
Marketing Intermediaries 112
Customers 114
Publics 114
THE COMPANY’S MACROENVIRONMENT 115
Competitors 115
MARKETING HIGHLIGHT: Cape town tourism destination marketing—the use of social media 116
Demographic Environment 117
The Changing American Family 121
Economic Environment 122
Natural Environment 123
Technological Environment 124
Political Environment 125
Cultural Environment 126
LINKED ENVIRONMENTAL FACTORS 128
RESPONDING TO THE MARKETING ENVIRONMENT 129
Environmental Scanning 129
CHAPTER REVIEW 130
DISCUSSION QUESTIONS 130
EXPERIENTIAL EXERCISES 131
INTERNET EXERCISES 131
REFERENCES 131
5 Managing Customer Information to Gain Customer Insights 134
MARKETING INFORMATION AND CUSTOMER INSIGHTS 137
Marketing Information and Today’s “Big Data” 137
Managing Marketing Information 138
THE MARKETING INFORMATION SYSTEM 138
Assessing Information Needs 139
Developing Marketing Information 140
MARKETING RESEARCH 148
Defining the Problem and Research Objectives 149
Developing the Research Plan 150
MARKETING HIGHLIGHT: ETHNOGRAPHIC RESEARCH: WATCHING WHAT CONSUMERS REALLY DO 152
MARKETING HIGHLIGHT: ZMET: GETTING INTO THE HEADS OF CONSUMERS 157
MARKETING HIGHLIGHT: PROS AND CONS OF ONLINE RESEARCH 159
MARKETING HIGHLIGHT: A “QUESTIONABLE” QUESTIONNAIRE 162
Implementing the Research Plan 165
Interpreting and Reporting the Findings 165
MARKETING HIGHLIGHT: RESEARCH PROBLEM AREAS 167
MARKETING HIGHLIGHT: HSMAI’S KNOWLEDGE CENTER: A GREAT SOURCE OF MARKETING INFORMATION 168
INTERNATIONAL MARKETING RESEARCH 168
MARKETING RESEARCH IN SMALLER ORGANIZATIONS 169
CHAPTER REVIEW 170
DISCUSSION QUESTIONS 171
EXPERIENTIAL EXERCISES 172
INTERNET EXERCISES 172
REFERENCES 172
6 Consumer Markets and Consumer Buying Behavior 175
A MODEL OF CONSUMER BEHAVIOR 177
PERSONAL CHARACTERISTICS AFFECTING CONSUMER BEHAVIOR 178
Cultural Factors 178
Social Factors 181
Personal Factors 184
Psychological Factors 187
MARKETING HIGHLIGHT: SENSORY MARKETING—A POWERFUL TOOL FOR HOSPITALITY BUSINESSES 189
THE BUYER DECISION PROCESS 191
Need Recognition 191
Information Search 192
Evaluation of Alternatives 193
Purchase Decision 194
Postpurchase Behavior 195
MARKETING HIGHLIGHT: UNIQUE ASPECTS OF HOSPITALITY AND TRAVEL CONSUMERS 195
CHAPTER REVIEW 196
DISCUSSION QUESTIONS 197
EXPERIENTIAL EXERCISE 198
INTERNET EXERCISES 198
REFERENCES 198
7 Organizational Buyer Behavior 201
THE ORGANIZATIONAL BUYING PROCESS 203
Market Structure and Demand 203
Types of Decisions and the Decision Process 203
PARTICIPANTS IN THE ORGANIZATIONAL BUYING PROCESS 204
Special Importance of International Companies 205
MAJOR INFLUENCES ON ORGANIZATIONAL BUYERS 205
Environmental Factors 206
Organizational Factors 206
Interpersonal Factors 206
Individual Factors 206
ORGANIZATIONAL BUYING DECISIONS 206
1. Problem Recognition 207
2. General Need Description 207
3. Product Specification 207
4. Supplier Search 207
5. Proposal Solicitations 208
6. Supplier Selection 208
7. Order-Routine Specification 208
8. Performance Review 208
GROUP MARKETS 209
Conventions 209
Convention Bureaus 210
ASSOCIATION MEETINGS 210
Corporate Meetings 211
Retreats 212
Small Groups 212
Incentive Travel 213
SMERFs 214
MARKETING HIGHLIGHT: GREEN MEETINGS—green meetings in asia’s greenest city 214
Segmentation of Group Markets by Purpose of the Meeting 215
Restaurants as a Meeting Venue 215
DEALING WITH MEETING PLANNERS 216
Career Opportunities 217
THE CORPORATE ACCOUNT AND CORPORATE TRAVEL MANAGER 218
Wedding Planners 219
Other Planners 219
CHAPTER REVIEW 219
DISCUSSION QUESTIONS 220
EXPERIENTIAL EXERCISE 220
INTERNET EXERCISE 220
REFERENCES 221
8 Customer-Driven Marketing Strategy: Creating Value for Target Customers 223
MARKETS 224
MARKET SEGMENTATION 225
Geographic Segmentation 226
Demographic Segmentation 227
MARKETING HIGHLIGHT: TARGETING FAMILIES BY TARGETING KIDS 228
Income Segmentation 228
Psychographic Segmentation 229
MARKETING HIGHLIGHT: W HOTELS: A LIFESTYLE HOTEL 230
Behavioral Segmentation 231
MARKETING HIGHLIGHT: THE VFR TRAVELER SEGMENT 231
Using Multiple Segmentation Bases 233
Requirements for Effective Segmentation 233
MARKET TARGETING 234
Evaluating Market Segments 234
Selecting Market Segments 235
Choosing a Market-Coverage Strategy 237
MARKET POSITIONING 238
Positioning Strategies 238
Choosing and Implementing a Positioning Strategy 239
Differentiating Competitive Advantages 239
Choosing the Right Competitive Advantages 242
Selecting an Overall Positioning Strategy 243
Communicating and Delivering the Chosen Position 244
Positioning Measurement: Perceptual Mapping 244
CHAPTER REVIEW 245
DISCUSSION QUESTIONS 246
EXPERIENTIAL EXERCISE 246
INTERNET EXERCISE 246
REFERENCES 247
Part III Developing the Hospitality and Tourism Marketing Value-Driven Strategy and Mix 249
9 Designing and Managing Products and Brands: Building Customer Value 251
WHAT IS A PRODUCT? 254
PRODUCT LEVELS 255
Core Products 255
Facilitating Products 255
Supporting Products 256
Augmented Product 257
BRANDING STRATEGY 262
Building Strong Brands 262
Brand Equity 262
Brand Positioning 263
Brand Name Selection 264
Leveraging Brands 265
Brand Portfolios 266
MARKETING HIGHLIGHT: tourism new zealand’s china toolkit: helping businesses to serve an emerging tourism market 268
Managing Brands 268
THE NEW-PRODUCT DEVELOPMENT 269
Idea Generation 270
Idea Screening 272
Concept Development and Testing 272
Marketing Strategy 274
Business Analysis 274
Product Development 274
Test Marketing 275
Commercialization 275
PRODUCT DEVELOPMENT THROUGH ACQUISITION 276
PRODUCT LIFE-CYCLE STRATEGIES 276
Introduction Stage 277
Growth Stage 278
Maturity Stage 278
Decline Stage 280
Product Deletion 280
INTERNATIONAL PRODUCT AND SERVICE MARKETING 282
CHAPTER REVIEW 283
DISCUSSION QUESTIONS 284
EXPERIENTIAL EXERCISES 284
INTERNET EXERCISE 284
REFERENCES 285
10 Internal Marketing 289
INTERNAL MARKETING 290
Post Face-to-Face Guest Relations 291
MARKETING HIGHLIGHT: PINEHURST RESORT & COUNTRY CLUB “DO WHAT’S RIGHT” 291
THE INTERNAL MARKETING PROCESS 292
Establishment of a Service Culture 293
Weak Service Culture Compared to a Strong Service Culture 294
Development of a Marketing Approach to Human Resources Management 297
Dissemination of Marketing Information to Employees 305
MARKETING HIGHLIGHT: INTERNAL MARKETING IN ACTION: LEWIS HOTELS 306
Employee Involvement in Uniform Selection 308
CHAPTER REVIEW 309
DISCUSSION QUESTIONS 310
EXPERIENTIAL EXERCISES 310
INTERNET EXERCISE 310
REFERENCES 310
11 Pricing: Understanding and Capturing Customer Value 313
PRICE 315
FACTORS TO CONSIDER WHEN SETTING PRICES 315
Internal Factors Affecting Pricing Decisions 316
External Factors Affecting Pricing Decisions 319
Competitors’ Prices and Offers 325
GENERAL PRICING APPROACHES 326
Cost-Based Pricing 326
Break-Even Analysis and Target Profit Pricing 327
Value-Based Pricing 328
Competition-Based Pricing 329
PRICING STRATEGIES 329
New-Product Pricing Strategies 329
Existing-Product Pricing Strategies 330
REVENUE MANAGEMENT 333
MARKETING HIGHLIGHT: SEGMENTED PRICING: THE RIGHT PRODUCT TO THE RIGHT CUSTOMER AT THE RIGHT TIME FOR THE RIGHT PRICE 333
Dynamic Pricing 336
BAR Pricing 337
Rate Parity 337
Nonuse of Revenue Management 337
Overbooking 337
PSYCHOLOGICAL PRICING 338
Price Endings 338
Promotional Pricing 339
Value Pricing—Low Price Approach 339
MARKETING HIGHLIGHT: RYANAIR USES VALUE PRICING TO ATTRACT CUSTOMERS AND GAINS REVENUE FROM EXTRA SALES 340
PRICE CHANGES 340
Initiating Price Changes 340
Responding to Price Changes 342
CHAPTER REVIEW 342
DISCUSSION QUESTIONS 344
EXPERIENTIAL EXERCISE 344
INTERNET EXERCISE 345
REFERENCES 345
12 Distribution Channels Delivering Customer Value 347
SUPPLY CHAINS AND THE VALUE DELIVERY NETWORK 348
NATURE AND IMPORTANCE OF DISTRIBUTION SYSTEMS 349
NATURE OF DISTRIBUTION CHANNELS 349
Why Are Marketing Intermediaries Used? 350
Distribution Channel Functions 350
Number of Channel Levels 351
HOSPITALITY DISTRIBUTION CHANNELS 352
Major Hospitality Distribution Channels 352
Direct Booking 352
Online Travel Agency 353
Global Distribution Systems 354
Travel Agents 354
Travel Wholesalers and Tour Operators 355
Specialists: Tour Brokers, Motivational Houses, and Junket Reps 356
Hotel Representatives 357
National, State, and Local Tourist Agencies 357
Consortia and Reservation Systems 357
Distribution Systems in the Sharing Economy 358
Restaurant Distribution Channels 359
CHANNEL BEHAVIOR AND THE ORGANIZATION 360
Channel Behavior 360
SELECTING CHANNEL MEMBERS 364
Customer Needs 364
MARKETING HIGHLIGHT: RESTAURANT FRANCHISING 365
Attracting Channel Members 366
Evaluating Major Channel Alternatives 366
RESPONSIBILITIES OF CHANNEL MEMBERS AND SUPPLIERS 367
BUSINESS LOCATION 367
CHAPTER REVIEW 369
DISCUSSION QUESTIONS 370
EXPERIENTIAL EXERCISES 371
INTERNET EXERCISES 371
REFERENCES 371
13 Engaging Customers and Communicating Customer Value and Advertising 373
THE PROMOTION MIX 375
INTEGRATED MARKETING COMMUNICATIONS 375
The New Marketing Communications Model 376
The Need for Integrated Marketing Communications 376
A View of the Communication Process 378
STEPS IN DEVELOPING EFFECTIVE COMMUNICATIONS 380
Identifying the Target Audience 380
Determining the Communication Objective 380
Designing the Message 382
Selecting Communication Channels 383
MARKETING HIGHLIGHT: THANK YOU—A GREAT PERSONAL COMMUNICATION 384
Selecting the Message Source 385
Collecting Feedback 386
SETTING THE TOTAL PROMOTION BUDGET AND MIX 387
Setting the Total Promotional Budget 387
SHAPING THE OVERALL PROMOTION MIX 388
The Nature of Each Promotion Tool 388
Promotion Mix Strategies 390
ADVERTISING 391
MAJOR DECISIONS IN ADVERTISING 392
Setting the Objectives 392
Setting the Advertising Budget 393
Developing Advertising Strategy 395
Creating the Advertising Message 395
Selecting Advertising Media 399
Evaluating Advertising Effectiveness and the Return on Advertising Investment 402
CHAPTER REVIEW 403
DISCUSSION QUESTIONS 405
EXPERIENTIAL EXERCISES 405
INTERNET EXERCISE 405
REFERENCES 405
14 Promoting Products: Public Relations and Sales Promotions 408
PUBLIC RELATIONS 410
Social Media 410
MAJOR ACTIVITIES OF PR DEPARTMENTS 411
Press Relations 411
Product Publicity 412
New Products 412
Corporate Communication 412
Lobbying 412
Counseling 412
MARKETING HIGHLIGHT: EXTREME SPORTS BRING PUBLICITY AND TOURISTS 413
PUBLICITY 413
THE PUBLIC RELATIONS PROCESS 414
Research 415
Establishing Marketing Objectives 415
Specific Objectives Should Be Set for Every PR Campaign 415
Defining the Target Audience 416
Choosing the PR Message and Vehicles 416
Public Services Activities 418
Implementing the Marketing PR Plan 419
Evaluating PR Results 419
Overwhelming Negative Publicity 420
PR OPPORTUNITIES FOR THE HOSPITALITY INDUSTRY 420
Individual Properties 420
Build PR Around the Owner/Operator 420
Build PR Around a Product or Service 421
Crisis Management 421
MARKETING HIGHLIGHT: CHESHIRE’S BEST KEPT STATIONS, CHESHIRE, UNITED KINGDOM 422
SALES PROMOTION 424
Setting Sales Promotion Objectives 424
Consumer Promotion Tools 425
Finding Creative Ideas 429
Developing the Sales Promotion Program 430
Pretesting and Implementing the Plan 430
Evaluating the Results 431
LOCAL AREA MARKETING (NEIGHBORHOOD MARKETING) 431
CHAPTER REVIEW 432
DISCUSSION QUESTIONS 433
EXPERIENTIAL EXERCISE 433
INTERNET EXERCISE 433
REFERENCES 434
15 Professional Sales 436
RESULTS 437
MANAGEMENT OF PROFESSIONAL SALES 438
NATURE OF HOSPITALITY SALES 438
Competitive Analysis and Competitive Sets 440
SALES FORCE OBJECTIVES 441
Sales Volume 441
Upselling and Second-Chance Selling 442
Market Share or Market Penetration 442
Product-Specific Objectives 442
SALES FORCE STRUCTURE AND SIZE 443
Territorial-Structured Sales Force 443
Market-Segment-Structured Sales Force 444
Market-Channel-Structured Sales Force 444
Customer-Structured Sales Force 444
Combination-Structured Sales Force 445
Sales Force Size 446
ORGANIZING THE SALES DEPARTMENT 447
Inside Sales Force 448
Field Sales Force 449
Team Sales 450
RELATIONSHIP MARKETING AND STRATEGIC ALLIANCES 450
RECRUITING AND TRAINING A PROFESSIONAL SALES FORCE 452
Importance of Careful Selection 452
Establishing a Profile of Desired Characteristics Matching the Corporate Culture 452
Matching Career Acquisitions with Corporate Objectives 453
Sales Force Training 453
MANAGING THE SALES FORCE 455
Selecting Sales Strategies 456
Sales Force Tactics: Principles of Personal Selling 458
Motivating a Professional Sales Force 462
Evaluation and Control of a Professional Sales Force 463
Peer-to-Peer Sales 466
Networking 467
SOCIAL SELLING: ONLINE, MOBILE, AND SOCIAL MEDIA TOOLS 468
CHAPTER REVIEW 469
DISCUSSION QUESTIONS 470
EXPERIENTIAL EXERCISES 470
INTERNET EXERCISE 470
REFERENCES 470
16 Direct, Online, Social Media, and Mobile Marketing 473
DIRECT AND DIGITAL MARKETING 475
The New Direct-Marketing Model 475
Rapid Growth of Direct and Digital Marketing 475
Benefits of Direct and Digital Marketing to Buyers and Sellers 476
FORMS OF DIRECT AND DIGITAL MARKETING 476
DIGITAL AND SOCIAL MEDIA MARKETING 477
Marketing, the Internet, and the Digital Age 477
Online Marketing 478
Social Media Marketing 482
MARKETING HIGHLIGHT: HOW HOSPITALITY COMPANIES USE SOCIAL MEDIA 486
CUSTOMER DATABASES AND TRADITIONAL DIRECT MARKETING 488
Database Uses 489
RELATIONSHIP MARKETING AND LOYALTY PROGRAMS 491
Benefits of Customer Relationship Management 492
Loyalty Programs 492
TRADITIONAL FORMS OF DIRECT MARKETING 495
Direct-Mail Marketing 495
Telephone Marketing 495
Kiosk Marketing 496
Interactive TV 496
ONLINE PRIVACY AND SECURITY 496
CHAPTER REVIEW 497
DISCUSSION QUESTIONS 499
EXPERIENTIAL EXERCISE 499
INTERNET EXERCISE 499
REFERENCES 500
Part IV Managing Hospitality and Tourism Marketing 505
17 Destination Marketing 507
THE GLOBALIZATION OF THE TOURIST INDUSTRY 509
MARKETING TOURISM DESTINATIONS 510
The Tourism Destination 510
Destination Marketing System 511
Destination Competitiveness 513
Sustainable Tourism 515
TOURISM DEVELOPMENT AND INVESTMENTS 519
MARKETING HIGHLIGHT: CUBA TOURISM DEVELOPMENT: A TIME TRAVEL 520
Tourism Events and Attractions 521
Attractions 524
SEGMENTING AND MONITORING THE TOURIST MARKET 527
Agritourism 530
Space Tourism 531
Multiday Hiking and Religious Pilgrimages 531
Medical Tourism 532
Genealogical Tourism 532
Identifying Target Markets 533
Classification of Visitor Segments 534
Monitoring the Tourist Markets 535
COMMUNICATING WITH THE TOURIST MARKET 536
Competition for Visitors Involves Image Making 536
Branding Destinations 537
Destination Tourism Slogans 537
Effectiveness of Advertising/Promotion 537
Developing Packages of Attractions and Amenities 538
Creating and Managing Visitor Experiences 539
ORGANIZING AND MANAGING TOURISM MARKETING 541
National Tourism Organizations 541
Regional Tourist Organizations: State Associations and Convention and Tourist Bureaus 542
CHAPTER REVIEW 543
DISCUSSION QUESTIONS 544
EXPERIENTIAL EXERCISE 544
INTERNET EXERCISE 544
REFERENCES 544
18 Next Year’s Marketing Plan 549
PURPOSE OF A MARKETING PLAN 551
SECTION I: EXECUTIVE SUMMARY 552
SECTION II: CORPORATE CONNECTION 553
Relationship to Other Plans 553
Marketing-Related Plans 553
Corporate Direction 554
SECTION III: ENVIRONMENTAL ANALYSIS AND FORECASTING 554
Positioning Statement 554
Major Environmental Factors 555
Economic Drivers of Growth 555
Competitive Analysis 556
Market Trends 556
Market Potential 557
Marketing Research 558
MARKETING HIGHLIGHT: THE INDIGO PEARL RESORT: FACEBOOK STRATEGY AND PLANNING THE INDIGO PEARL 559
SECTION IV: SEGMENTATION AND TARGETING 561
Segmentation Analysis 561
Market-Segment-Profitability Analysis (MSPA) 561
Targeting 561
Global Market Strategy—Australia 562
SECTION V: NEXT YEAR’S OBJECTIVES AND QUOTAS 563
Objectives 563
Rating System Objectives 564
Quotas 566
Communicating the Plan 566
Top Management 566
Board of Directors or Group of Investors 566
Subordinates 566
Vendors 567
Other Departments 567
SECTION VI: ACTION PLANS: STRATEGIES AND TACTICS 567
Nonqualified Audience: Cluster Marketing 568
Sales Strategies 568
Distribution Strategies 569
Advertising and Promotion Strategies 569
Pricing Strategies 571
Product Strategies 571
Lost or Decline of Iconic Restaurant Brands 572
SECTION VII: RESOURCES NEEDED TO SUPPORT STRATEGIES AND MEET OBJECTIVES 572
Personnel 572
Other Monetary Support 573
Research, Consulting, and Training 573
Miscellaneous Costs 573
Budgets 573
SECTION VIII: MARKETING CONTROL 573
Sales Objectives 574
Sales Forecast and Quotas 574
Expenditures Against Budget 574
Periodic Evaluation of All Marketing Objectives 574
Marketing Activity Timetable 576
Readjustments to Marketing Plan 576
SECTION IX: PRESENTING AND SELLING THE PLAN 576
SECTION X: PREPARING FOR THE FUTURE 577
Data Collection and Analysis 577
Marketing Planning as a Tool for Growth 577
CHAPTER REVIEW 578
DISCUSSION QUESTIONS 579
EXPERIENTIAL EXERCISE 580
INTERNET EXERCISES 580
REFERENCES 580
Appendix A: The Five-Gap Model of Service Quality 582
Appendix B: Forecasting Market Demand 586
Case Studies 593
Glossary 656
Index 664