Thursday, November 15, 2007

Hospitality Marketing Management

Last night’s lecture was about Hospitality Marketing Management - Introduction to Hospitality Management, Service Characteristics of Hospitality Marketing and The Marketing Environment.

“Marketing is so basic that it cannot be considered a separate function. It is the whole of business seen from the point of view of its final result, that is, from the customer’s point of view… Business success is not determined by the producer, but by the customer.” – Peter Drucker

The purpose of the travel industry is to create and maintain satisfied, profitable customers. Marketing is a social and managerial process which individuals and groups obtain what they need and want through creating and exchanging products and value with others.

The core marketing concepts revolve round the following:
- Markets
- Products
- Needs, wants & demands
- Value, satisfaction & quality
- Exchange, transactions & relationships

The class also watched 2 video clips on how Dunkin Donut perfected & maintained the quality of their donut & coffee and how MacDonald struggled to open its first outlet in Moscow.

The latter clip was exceptionally interesting cos it shows MacDonald’s determination and effort to build the first McDonald in Moscow, a country that has never been exposed to western culture. Moscow MacDonald is one the largest in the world.

McDonald's has built an entirely impendent Russian organization with its own farms to supply potatoes and it's own processing plants to make hamburger buns, apple pies, and other food products for the restaurant.

On the opening day in 1990, people lined up for hours to get Big Macs and Cokes. It also attracted the media from all over the world to witness the historical event.

Video on Dunkin Donut.

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