Core principles of marketing
Core principles of marketing:
There are seven core principles of marketing. They are as follows:
The marketing concepts
Satisfying customers needs and wants,
Value and the exchange process
Product life cycle
The marketing concept
It is core principle of marketing, when hospitality and travel manager adopt marketing con-cept, they must belief on costumer need want as well their satisfaction they must focus on customer satisfaction their demands, managers focus all activities at determining costumers needs in target market. 2.
Manager has accepted marketing concept integrated marketing concept is the essence of cos-tumer need satisfaction, all departments in the organization should work together to serve costu-mer’s interest. 3.
Satisfying customers needs and wants:
Other core principles is satisfying customers needs and wants. Customer orientation is the key to organizational success, organizational activities should be focused or determining and satisfying customers need. In competitive business world, all hospitality and travel organization must realize customer satisfaction, and must be alert for new opportunities to convert customers’ need and wants into sales. 4.
Target markets should be defined carefully because all customers are not alike. No organiza-tion can operate in every market and satisfy every need. So it is better to select specific groups of people. 5.
Value and exchange process
Marketing is an exchange process supply of hospitality and travel services trade items of value with their customs. The industry provides services and experience that customer found valuable when they are away from home, in return, customer make reservation and pay money, which satisfies the industry’s financial objective. 6.
Product life cycle...
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