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| Hospitality companies know that __________ and ___________ go hand-in-glove. |
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| In-depth guest ________ will also be used to shape the criteria that go into defining the on-property guest experience. |
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| We have found that complete attention to detail - a total commitment to guest satisfaction that saves a guest ______, ________, and ________, provides completely personalized and individual service, and creates the experience of "intellectual surprise" for its consumers - is what drives repeat business among the affluent. |
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| To be effective, a new marketing plan must be written each ________. |
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| At the same time, the annual marketing plan must be written against a longer term _________ plan that states what the company hopes to achieve, say, three to five years down the road. |
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| To develop successful strategies and action programs, marketers need up-to-date information about the ___________, the ____________, and the market __________ to be served. |
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| environment, competition, segments |
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| Finally, marketing research helps marketers learn more about their customers' ___________, ___________, ___________, and ___________ levels. |
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| requirements, expectations, perception, satisfaction |
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| The __________ ___________ and a few charts or graphs from the body of the plan may be the only parts ever read by top management. Consequently, it is of great importance to write this section carefully, with top management in mind. |
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| A marketing plan is not a stand-alone tool. Instead, it must _________ other plans, such as the firm's strategic plan. |
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Next year's marketing strategies and tactics must support strategic decisions such as the following:
a. corporate _________ with respect to profit, growth, and so on
b. desired market _________
c. ___________ of the company or of its product lines
d. vertical or horizontal ______________
e. strategic _____________
f. product line breadth and ___________
g. customer ____________ management (CRM) |
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Definition
goals
share
positioning
integration
alliances
depth
relationship |
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| ___________ affecting taxation, pension benefits, and casino gambling are only a few examples of political decisions likely to affect marketing directly. |
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| Changes in economic variables such as __________ and _________ rates should be recognized. |
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| A ___________ analysis must extend beyond inventory comparisons. True competitive advantages are factors that are recognized by guests and influence their purchase decisions. |
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| Market potential should be viewed as the total available _______ for a hospitality product within a particular geographic market at a given price. |
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| The need for marketing _________ is ongoing. Much of the information acquired by marketing research in a current calendar or fiscal year serves as the basis for developing next year's marketing plan. |
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| The heart of any marketing plan is careful analysis of ___________ market segments and the selection of appropriate target segments. |
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| This is information that identifies each of the company's existing customer segments by _______, _______, and __________. |
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Definition
| revenue, cost, profitability |
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| The selection of ________ markets is a primary responsibility of marketing management. This requires careful consideration of the variables already discussed in the development of the marketing plan. |
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| The establishment of _________ provides direction for the rest of the marketing plan. |
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| The selection of appropriate _________ of distribution is basic to the development of successful sales strategies. |
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| A common error in writing a marketing plan is to develop strategies that are probably highly workable but for which there is ___________ support. |
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| Generally, the most costly and difficult resource needed to ensure success with marketing/sales strategies is ___________. |
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| A sales plan should pay particular attention to the sales force and its objectives and to strategies to ensure that sales ________ are met and possibly exceeded. |
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| The process of marketing is a _________. The task is never ending. |
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| Marketing/sales managers must always be _________, as the development of next year's marketing plan begins the day this year's plan is approved. |
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| The process of data collection and analysis from _______ and ________ sources continues each day. Marketing/sales managers must always be alert for methods to improve the process. |
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| What is not so obvious to many is that a good plan will also enable _________ to prosper and grow. |
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| A study of the process used by hotels to develop marketing plans has shown that "the most important features in the development of a marketing plan appear to be management participation and _____________ at all levels, sufficient _________ for development, specific ____________ in developing a marketing plan, and tying ____________ to the achievement of goals and objectives." |
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Definition
| commitment, time, training, incentives |
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