Level 1 Chapter 1 Slides 1-9

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MARKETING OVERVIEW

• Market

oGroup that desires product or service

oCan be customers or guests

• Marketing

oCommunicating message to market/guests

oCommunicates availability of product or service

oUses social media

oNot the same as advertising

BASIC MARKETING CONCEPTS

• Marketing mix

oCombination of creation, development, sale of products

oTraditional marketing plan

oFour Ps: product, price, promotion, place

• Contemporary marketing mix

oDeveloped to meet current marketing challenges

oThree elements: product-service mix, presentation mix,
communication mix

MARKETING MIX: FOUR PS

• Product: Good/service consumers want/need
• Price: Determined by competition, production, demand
• Promotion: Message that advances sale of products
• Place: Where to have product sold

BASIC MARKETING CONCEPTS: CONTEMPORARY MARKETING MIX

Product-service mix:
•

All food and services

•

Important to compete with similar operations

Presentation mix:
•How an operation looks

•Layout, size, furniture, decorations, lighting, uniforms

Communication mix:
•All communication with guests

•Includes advertising, menu, guest feedback, social networking

MARKETING PLAN

• List of steps to sell product or service
• Directed at specific market
• Different for each operation

MARKETING PLAN: STEPS

Research the market:
• First step
• Information from guests, employees, community, government

offices

• Shows strengths and weaknesses

Establish objective:
• Goals to accomplish
• Set time frame and deadlines

Develop marketing strategy:
• Ways to achieve objective
• Weigh pros and cons
• Collaborate to find best strategy

MARKETING PLAN: STEPS

Implement action plan:
• Put strategy into practice
• Make changes accordingly

Evaluate/modify action plan:
• Monitor actions
• Determine success of strategy
• Revise plan when necessary

SWOT ANALYSIS

• Also called a situation assessment
• Stands for: strengths, weaknesses, opportunities, threats
• Determines success of operation’s strategy
• Used to make improvements

Open Ended

What is a Market?