TRAVEL AND TOURISM MANAGEMENT Marketing in travel and tourism/Public relation HNC/HNDs VIVIAN OVIASEHI

Strategic planning in Marketing Game plan for achieving long term objectives of the business Strategy set at different levels – Corporate – Division – Business – Product

Strategic planning in Marketing Strategic planning involves the consideration of some fundamental principles such as The Organisation’s mission statement Vision Aims/objectives Core competences External/internal business environment

Strategic planning in Marketing Mission statement answers fundamental questions – What is our business and what will it be? – Who are our customers and what do they value? – What are our distinctive competencies?

Mission Avis – “Our business is renting cars, our mission is total customer satisfaction” Virgin – “Screw it – let’s do it” Walt Disney – “To make people happy” Courtyard by Marriott “To provide economy and quality-minded travelers with a premier moderate priced lodging facility which is consistently perceived as clean, comfortable, well maintained and attractive, staffed by friendly, attentive and efficient people.”

Aims/objectives Aims = broad, long range accomplishment that the organisation wishes to attain in 5 years or more Objectives = specific, short range target designed to help reach that goal Objectives should be SMART – Specific – Measurable – Achievable – Realistic – Timed

Competitive advantage Cost leadership Lower cost - Cost focus Differentiation Differentiation - Differentiation focus Competitive scope Broad target Narrow target

Types of Strategies Promotional Strategies - Raise awareness of new product Pricing strategies - low prices Product Strategies – Gain market share/establish growth Market strategies – innovation (new product/development of existing products

Pricing Strategies covering costs Maximising current profit Adopting low prices to capture a sizeable market share Market skimming – high prices to attract least price sensitive customers first