PRITUR Market – aggregate of people who as individuals or organizations have needs or services and who have the ability, willingness and authority to purchase such products Marketing – is all about finding out what guests wants and needs are, then providing them at a reasonable cost and profit. Sales- is an important part of marketing. Difference between marketing and sales. Marketing focuses on the guests Sales it focuses on products Environmental analysis – means studying the economic social, political and technological influences that could affect the hospitality business. Focuses on: 1.
Economic impact – should not be underestimated. 2. Social analysis – demographic is a part of social analysis and this is the profile of society includes: Age, sex, household, income, family size, occupation, religion, race and nationality. 3. Political analysis – the political analysis will affect the hospitality in a number of ways like: employment registration, minimum wage, health care, taxes on the benefit package, tax deduction, and no smoking laws. 4. Technological analysis – to make work faster and easier. 5. Competitor analysis – analysing the strength and weakness of your competitor. Marketing process: 1.
Market planning – it is the planning process that yields the decision on a business unit can best compete in the market. 2. Market assessment – to determine if there is a need for a product or service in the market encloses its potential. 3. Market demand – 4. Competitive analysis – assessment the strength and weakness of the company. 5. Positioning – to occupy a specific place or position to the target market. 6. Market goals or objectives – an objective must be planned for each goal. Any form of a business has its own goal. 7. Marketing Needs – is the combination of elements that you will use to market your product.