Marketing
The word “Marketing” involves different activities:
- Finding out the customers’ needs;
- Creating the right products;
- Promoting the products.
A marketing team must consider the four Ps:
Product, Place, Price and Promotion.
Product
In tourism, the term “Product” refers to:
- A package tour
- An independent holiday
- A cruise
- Transport
- Accommodation
Price
When deciding the price of a product, a company should consider different aspects: fixed and variable costs, commissions for agents, discounts, and the profit margin, the difference between high and low season.
Place
The location refers to the holiday destination. A travel company should consider trends in tourism, political, economic and natural events, exchange rate fluctuations. A travel agency has better opportunities if it is centrally located.
Promotion
The promotion aims at two different groups: other organisations in the tourism industry and customers. Promotion is made through media advertising.
The fifth P
The fifth P stands for personnel or people. The level of skills and experience of personnel can improve the services of a travel company.
Marketing
The word “Marketing” involves different activities:
- 1) Finding out the customers’ needs;
- 2) Creating the right products;
- 3) Promoting the products.
A marketing team must consider the four Ps: Product, Place, Price and Promotion.
Product
In tourism the term “Product” refers to:
- A package tour
- An independent holiday
- A cruise
- Transport
- Accommodation
Price
When deciding the price of a product, a company should consider different aspects: fixed and variable costs, commissions for agents, discounts, and the profit margin, the difference between high and low season.
Place
The location refers to the holiday destination. A travel company should consider trends in tourism, political, economic and natural events, and exchange rate fluctuations. A travel agency has better opportunities if it is centrally located.
Promotion
The promotion aims at two different groups: Other organisations in the tourism industry and customers. Promotion is made through media advertising.
The fifth P
The fifth P stands for personnel or people. The level of skills and experience of personnel can improve the services of a travel company.
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