Essay About Different Age Groups And Marketing Objectives

Marketing In Tourism
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Marketing in Tourism
* A definition of marketing, as described by the Chartered Institute
Of Marketing “Marketing is the management process that identifies,
anticipates and supplies customer requirements efficiently and
profitably.” Chartered Institute Of Marketing
* The components of marketing
1. Identifying customer needs i.e. market research
2. Producing a product that meets customers needs
3. Calculating the price that meets customer demand
4. Producing the right quantities to supply customer demand
5. Promoting the product to the customer
6. Distributing the product to the place where it is convenient
for the customer to buy it
3.2 Marketing objectives
* A definition of objectives, as described by GCSE Business Studies
for AQA Jenkins & Hamman – “Statements of the goals that a company
wishes to achieve in a given time.”
* A definition of marketing objectives, this time described by GCSE
Business Studies — Wallace & Wallace — “The main objectives of the
marketing department.”
* Objectives need to be SMART;
S pecific
M easurable
A chievable
R ealistic
T imely
* The Deep’s five main marketing objectives include;
1. An icon building for Hull
2. To open without debt
3. To promote a deeper understanding of the world’s oceans
4. To educate, entertain, regenerate and inspire
5. To attract between 250,000 and 350,000 visitors in Year 1 and
over 250,000 visitors in subsequent years
However, are these marketing objectives SMART? And if not how can they
become so?
1. An icon building for Hull
This objective is Specific, because it shows The Deep know exactly
what they want to become, and where.
It’s Achievable, because one of the only other main contenders is the
Humber Bridge. Realistic — for the same reason above. And Timely,
because a building can’t just become an icon building over night; it
takes time. However, it isn’t measurable, this is because you cannot
measure how much of an icon a building is.
2. To open without debt
This objective is Specific, Measurable, Achievable, Realistic, but not
Timely.
3. To promote a deeper understanding of the world’s oceans
This objective is Specific, Achievable, Realistic, but not Measurable
or Timely.
4. To educate, entertain, regenerate and inspire
This is Specific, Achievable, Realistic, but not Measurable or Timely.
5. To attract between 250,000 and 350,000 visitors in Year 1 and over
250,000 visitors in subsequent years
This is the only objective to be fully SMART.
3.3 Market Segmentation
* Definition of market segmentation “analysing a market to identify
the different types of consumer.” A-Z of Business Studies
* Markets can be segmented in the following ways:
1. Age Different age groups have different needs and spending
habits
2. Gender Various goods may only be appealing to males, or
females, or maybe both.
3. Socio-economic grouping
4. Geography
5. Lifestyle
6. Ethnicity
* The Deep’s market segments are:
1. Children aged 4-14 — This is because they want to attract the
younger people, perhaps as a form of education.
2. Caring parents — Parents who want to take their young children to
entertain them.
3. School groups via teachers — This can educate children in school
parties; using special “group deals” can attract more schools,
which can bring in a lot of money.
4. вЂ?Ageing Greys’ i.e. adults age 55+ – These are people who have a
lot of time on their hands and can visit