businesses nowadays growing fast around the world. The industry comprises of various sub-sectors which include the business sector, restaurant and resort. The tourism and hospitality industry is a sector that most countries around the world try to develop. The industry has been one of the major employers throughout the world. The business being a vital part of the wider hospitality industry occupies an important place in the economy of most countries.
2. Table of content
• What is marketing?
• What is strategy?
• Features of strategy
• Who is customer?
• Marketing strategies to attract the customer
3. Marketing
• Marketing refers to activities a company undertakes to promote the buying or selling
of a product or service. Marketing includes advertising, selling, and delivering
products to consumers or other businesses.
4. What is strategy?
• The word “strategy” is derived from the Greek word “stratçgos”; stratus
(meaning army) and “ago” (meaning leading/moving).
• Strategy is an action that managers take to attain one or more of the
organization’s goals. Strategy can also be defined as “A general direction set
for the company and its various components to achieve a desired state in the
future. Strategy results from the detailed strategic planning process”.
5. Features of Strategy
• Strategy is Significant because it is not possible to foresee the
future. Without a perfect foresight, the firms must be ready to
deal with the uncertain events which constitute the business
environment.
• Strategy deals with long term developments rather than routine
operations, i.e. it deals with probability of innovations or new
products, new methods of productions, or new markets to be
developed in future.
• Strategy is created to take into account the probable behavior of
customers and competitors. Strategies dealing with employees will
predict the employee behavior.
6. Who is customer?
• Customers are the individuals and businesses that purchase goods
and services from another business.
• To understand how to better meet the needs of its customers,
some businesses closely monitor their customer relationships to
identify ways to improve service and products.
7. Marketing strategy
• kotler (2005), Marketing strategy is the marketing logic by which the business
unit hopes to achieve its marketing objectives. It shows how strategies for
target markets and positioning build upon the firm’s differential advantages.
8. Marketing strategies to attract customers
Cause Marketing strategy:
• Finding causes both your customers and your company cares about can create
magic for your business.
Close Range Marketing strategy (CRM)
Use Wi-Fi or Bluetooth to send promotional messages of their products and
services to their customers’ smartphones and tablets at close proximity. Close
Range Marketing is also known as Proximity Marketing.
9. Conti….
• Relationship Marketing strategy:
Many companies focus on building relationships with their customers
instead of always exclusive trying to sell them something
Transactional Marketing:
Driving sales can be challenging, especially for retailers that have to
consistently sell products in high volume to consumers. In order to
stay with the demands of investors, retailers have to encourage
consumers to buy using coupons, discounts, liquidations, and sales
events.
10. Conti….
• Scarcity Marketing:
In some markets it’s important to control how much product is
available at one time. In many cases this is done because of the
difficulty of acquiring raw materials or higher quality of the
product. A company may choose to make their products accessible
to only a few customers.
Word of Mouth Marketing
Word-of-mouth Marketing is the passing of information from person
to person by oral communication
11. Conti….
• Call to Action (CTA) Marketing
CTA Marketing refers to methods of converting web traffic into leads or sales on
websites using text, graphics, or other elements of web design.
Viral Marketing strategy
Getting your customers talking about your products and services is very
important to growing awareness for your business.
12. Conti….
• Diversity Marketing strategy
Develop a customized marketing plan by analyzing different
customer segments based on cultural differences including tastes,
expectations, beliefs, world views, and specific needs.
Seasonal Marketing:
Seasonal events offer a great way to meet new consumers.
Sometimes these events can be actual changes of weather or
national holidays
13. Conti….
• PR Marketing strategy:
One of the most important marketing strategies is public
relations. Many effective marketers work with the media to bring
awareness to their products and the benefits their products offer.
Also, in many cases where things go wrong, a good PR marketing
strategy is vital.
Online Marketing
As commerce has propagated to the Internet, a new form of
marketing has emerged.
14. Conti….
• Email Marketing strategy
• Offline Marketing strategy
• Freebie Marketing strategy
Promote free give away or sell your products and services sold at
low rates to boost the sales of other related products or services.
• Newsletter Marketing strategy
Article Marketing strategy
Tradeshow Marketing strategy
Many products and services have to be experienced to be bought.
15. Conti….
• Search Marketing strategy
• To provide information accessibility regarding your products and
services in searching browsers like Google and yellow pages.
• Direct Marketing strategy
• Advertise and promote your products and services to customers
using a range of direct tools.
• Social Media Marketing strategy
• Mobile Marketing strategy
17. Fast-moving consumer goods (FMCG)
• Fast-moving consumer goods are products that sell quickly at relatively low cost. These goods are
also called consumer packaged goods.
• FMCGs have a short shelf life because of high consumer demand (e.g., soft drinks and confections)
or because they are perishable (e.g., meat, dairy products, and baked goods). These goods are
purchased frequently, are consumed rapidly, are priced low, and are sold in large quantities. They
also have a high turnover when they're on the shelf at the store.
18. Conti….
• FMCGs account for more than half of all consumer spending, but
they tend to be low-involvement purchases. Consumers are more
likely to show off a durable good such as a new car or beautifully
designed smartphone than a new energy drink they picked up for
$2.50 at the convenience store.
19. • From the consumer perspective
• Frequent purchases
• Low engagement (little or no effort to choose the item)
• Low prices
• Short shelf life
• Rapid consumption
• From the marketer perspective
• High volumes
• Low contribution margins
• Extensive distribution
• High inventory turnover
FMCG
20. Targeting customers through brand building
• The fact that the public is becoming more aware of their health poses a challenge
for many FMCGs which are within the unhealthy snack industry, because people are
becoming less interested in traditional unhealthy snacks, and more into healthier
ones. As most FMCGs are sold in supermarkets, this means that there is a lack of
direct sales contact with the consumer, meaning brands have to reach the
consumer before point of purchase. Additionally, recent economic factors have
affected the profits made in the FMCG sector; consequently, brands have to think
more strategically about advertising budgets.
21. • Globally, consumer confidence has improved, having a positive effect on the FMCG
market. In the UK, for example, it grew by almost 2% in the second quarter of this
year, and 78% of urban consumers expect to spend the same or more on groceries in
future. Health has become a more significant part of our daily lives, with a third of
people buying healthier food this year compared to last year and more people
cooking meals from scratch, meaning they are less likely to buy snacks. However,
with 54% of people thinking about groceries whilst out, it means brands can grab the
opportunity to engage with their customers and influence their purchasing
decisions.
22. Consumer Durables
• Consumer durables are a category of consumer products that don't
have to be purchased frequently because they last for an extended
period of time.
• Consumer non-Durables
• Consumer nondurable goods are purchased for immediate or almost
immediate consumption and have a life span ranging from minutes to
three years. Common examples of these are food, beverages,
clothing, shoes, and gasoline.
