Marketing in Tourism

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Marketing in Tourism

* A definition of marketing, as described by the Chartered Institute Of Marketing “Marketing is the management process that identifies, anticipates and supplies customer requirements efficiently and profitably.” Chartered Institute Of Marketing

* The components of marketing

1. Identifying customer needs i.e. market research

2. Producing a product that meets customers needs

3. Calculating the price that meets customer demand

4. Producing the right quantities to supply customer demand

5. Promoting the product to the customer

6. Distributing the product to the place where it is convenient for the customer to buy it

3.2 Marketing objectives

* A definition of objectives, as described by GCSE Business Studies for AQA Jenkins & Hamman - “Statements of the goals that a company wishes to achieve in a given time.”

* A definition of marketing objectives, this time described by GCSE Business Studies – Wallace & Wallace – “The main objectives of the marketing department.”

* Objectives need to be SMART;

S pecific

M easurable

A chievable

R ealistic

T imely

* The Deep’s five main marketing objectives include;

1. An icon building for Hull

2. To open without debt

3. To promote a deeper understanding of the world’s oceans

4. To educate, entertain, regenerate and inspire

5. To attract between 250,000 and 350,000 visitors in Year 1 and over 250,000 visitors in subsequent years

However, are these marketing objectives SMART? And if not how can they become so?

1. An icon building for Hull

This objective is Specific, because it shows The Deep know exactly what they want to become, and where.

It’s Achievable, because one of the only other main contenders is the Humber Bridge. Realistic – for the same reason above. And Timely, because a building can’t just become an icon building over night; it takes time. However, it isn’t measurable, this is because you cannot measure how much of an icon a building is.

2. To open without debt

This objective is Specific, Measurable, Achievable, Realistic, but not Timely.

3. To promote a deeper understanding of the world’s oceans

This objective is Specific, Achievable, Realistic, but not Measurable or Timely.

4. To educate, entertain, regenerate and inspire

This is Specific, Achievable, Realistic, but not Measurable or Timely.

5. To attract between 250,000 and 350,000 visitors in Year 1 and over 250,000 visitors in subsequent years

This is the only objective to be fully SMART.

3.3 Market Segmentation

* Definition of market segmentation “analysing a market to identify the different types of consumer.” A-Z of Business Studies

* Markets can be segmented in the following ways:

1. Age Different age groups have different needs and spending habits

2. Gender Various goods may only be appealing to males, or
females, or maybe both.

3. Socio-economic grouping

4. Geography

5. Lifestyle

6. Ethnicity

* The Deep’s market segments are:

1. Children aged 4-14 – This is because they want to attract the younger people, perhaps as a form of education.

2. Caring parents – Parents who want to take their young children to entertain them.

3. School groups via teachers – This can educate children in school parties; using special “group deals” can attract more schools, which can bring in a lot of money.

4. ‘Ageing Greys’ i.e. adults age 55+ - These are people who have a lot of time on their hands and can visit The Deep anytime.

The Deep identified its target audience by completing questionnaires and surveys. They could have done this using primary, secondary or tertiary forms of research.

However, I have discovered several marketing segments, which The Deep has missed out on, and may be losing many more customers this way. These include the teenage market, and “courting couples”.

3.4...
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