Professional Documents
Culture Documents
Figure 4-1
Major actors in
the companys
microenvironment.
3. Marketers must do more than adapt to the needs of target customers. They
must also adapt to the strategies of other companies serving the same target
markets.
4. Companies can gain strategic advantage by strongly positioning their product
in the minds of consumers.
5. Each firm must consider its size and industry position in relation to that of its
competitors in order to implement a competitive marketing strategy.
6. Large firms with dominant positions in an industry can use strategies that
smaller companies cannot afford.
7. Small and individually owned companies do not have to worry about
standardizing their products. This allows them to adapt quickly to local trends
and offer more variety.
8. In general a company has three variables to monitor when analyzing each of
its competitors: share of market, share of mind, and share of heart.
9. In addition to having behavioral loyalty, a truly loyal customer exhibits
attitudinal loyalty and is more likely to make favorable recommendations.
10.Spurious loyal customers are frequent visitors but are not emotionally
attached.
11. The four levels of competition: Budget, General, Product Category, and
Product Form.
12.Suppliers are firms and individuals that provide the resources needed by the
company to produce its goods and services.
13.When outsourcing food and beverage operations, a partnering deal creates
more commitment on the chefs part because they share directly in the
profits of the company.
14.Marketing intermediaries help the company promote, sell, and distribute its
goods to the final buyers. They include travel agents, wholesale tour
operators, and hotel representatives.
15.Hotels may create disintermediation by using Internet reservations systems,
making them less dependent on travel agents.
16.Marketing services agencies are suppliers that help the firm implement its
marketing strategy and tactics. Their capabilities include Public Relations,
advertising, and direct mail housing.
17.Consumer markets consist of individuals and households that purchase
hospitality services for leisure activities, medical needs, and gatherings.
18.The companys marketing environment should include various publics. These
groups have an actual or potential interest in or impact on an organizations
ability to achieve its objectives.
19. The macro-environment consists of the larger societal forces that affect the
entire microenvironment, that is, demographic, economic, natural,
technological, political, competitor, and cultural forces.
20.
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