HTM 2454 Chapter Notes - Chapter 19: American Marketing Association, Brand Equity, Sales Promotion

• School: Virginia Tech
• Department: Hospitality and Tourism Management
• Course: HTM 2454
• Professor: Z Xiang

Document Summary

80% use internet for trip planning, 50% booked online, 4 p"s, social media, marketing plan, 1. 67b in 2010 -> 5b in 2020, what is marketing (417, american marketing association definition, goal oriented, strategic, directed. Selling - internal and external: public relations - w/ visitors, community, suppliers, and employees, research. Service quality - satisfied customers and repeat business. Image - consumers perception: marketing manager (419, 4 ps - jerome mccarthy - basic marketing and essentials of marketing. "three p"s" mill & morrison : programming - special activities, events, etc to increase customer spending, people - human side of the visitor, partnership - high degree of interdependency among all destination sh, product/experience branding. Introduction (422: high promotional expenditures and visibility - advertise, growth (423, g/s is being accepted by consumers, sales & profit rise rapidly, competitors, maturity, well established in the market place, leveling off, competitive, saturation. Sales volume reaches its peak, mass production=lowered price: decline, demand drops, lower expenditures, fewer competitors.