Unit 1: Basic Concepts of Tourism and Hospitality Marketing

Consumers favor products that are available and highly affordable

These are part of basic Marketing Mix except;

Customers affect other customers.

Reservations are done to manage....

Acquiring one or more competitors

Customers/employees/suppliers, and the communities that have an interest in the success of the business.

Difference between the benefits and cost of owning the product.

The equivalent of Marketing is Selling.

Acquiring a supplier

When companies intensifies promotional campaigns to sell products.

Concentric Strategy seeks new businesses that is new to the company’s current technology, products, or markets

Satisfactions are based on past buying experiences, the opinions of friends, and market information.

High Relative Market Share with Low Market Growth Rate

Transaction is an act of obtaining a desired object from someone by offering something in return.

Low Relative Market Share with Low Market Growth Rate