Download Hospitality Marketing Terms and Concepts: A Glossary for CHSP Certification and more Exams Advanced Education in PDF only on Docsity!
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marketing -promote and make available to consumers in a target market. ANSWER A system of interrelated activities formulated to plan, price,
sales -telecommunication and mailings. ANSWER Direct efforts to sell a property by personal sales calls,
marketing mix -promotion and price. ANSWER combination of the four P's of marketing; product, place,
4 P's of marketing -variables) ANSWER product, place, price and promotion (controlled
Product-Service Mix -features, structure/exterior, quality/name brand. ANSWER guestroom, furnishings, decor, amenities, service
Place-Distribution Mix -groups, reservation systems, direct sales ANSWER travel agents, tour operators, salespeople, referral
Promotional - Communication Mix -advertising, direct sales, public relations, word-of-mouth ANSWER publicity, internal sales, media
Price - Rate Mix -discounts, commissions ANSWER room rates, menu pricing, amenity fees, beverage prices,
valley period - ANSWER off-season, the time when demand is at its lowest
peak period - ANSWER in-season, the time when demand is at its highest shoulder period - ANSWER period of time between a peak and a valley uncontrollable variables - ANSWER external factors such as a recession, energy crisis,natural disaster, weather conditions
Marketing Director -more with research and strategy and is concerned with identifying the needs and wants ANSWER difference between DOM and DOS is that the DOM deals of consumers. Director of Sales -in finding solutions to consumers' problems. ANSWER implements marketing strategies and leads the sales staff
Intangibility - ANSWER selling the "use" of guest rooms or banquet space Perishability -seat, unfilled tee-time ANSWER Lost business forever; used guest room, empty restaurant
Inconsistency - ANSWER service by an employee that varies greatly at different hotels Inseparability -comes to the hotel and services are consumed at the same time. ANSWER production and consumption happen at the same time. Guest
Environmental scanning -acting on them before your competitor does. ANSWER The study of trends. Keeping abreast of trends and
Globalization -abroad ANSWER establishing an international presence to serve travelers
marketing intelligence -formatted to help formulate plans and make decisions. ANSWER information that has been analyzed, evaluated and
information system -gathering and analyzing data to provide accurate info to marketing decision makers. ANSWER the people, the equipment and procedures involved in
property analysis -programs to determine its strengths and weaknesses ANSWER evaluation of a business's facilities, services and
occupancy and activity analysis -potential operating statistics; part of the marketplace analysis. ANSWER analysis of a property's past, present and
Competition Analysis- ANSWER evaluation of the business's competition to identifyopportunities and unique selling points.
Competitive Set- ANSWER properties in the area that sell into a similar marketsegments, pricing, and similar product and service.
Differentiation- ANSWER separating your property from those in your competition fair share -distributed based on the number of rooms in each property. ANSWER number of rooms a hotel would sell if the demand were
feeder city - ANSWER city in which guests arrive from guest mix - ANSWER mixture of guests who stay at your property market segementation -wants, backgrounds, incomes, buying habits ANSWER dividing the market into groups with similar needs,
market share -total number of room nights within a market area. ANSWER number of room nights a property sells compared with the
marketplace analysis -business. Such as changes in lifestyles, societal values, economic conditions and ANSWER evaluation of environmental trends affecting a technology positioning -services offered by a hotel in relation to similar products/services by the competitor. ANSWER the process of how consumers perceive the products and
RevPAR - ANSWER revenue per available room. target markets -activities are aimed here. ANSWER market segments with the greatest potential. marketing
zero-base budget -expenditures. ANSWER budget that starts at zero and forces planners to justify
