In this article all the essential aspects of MTTM-6 are covered in each unit, so especially when you’re preparing for the exam or even for the assignment going through this article, it will be beneficial. So stay tuned to this article to learn about the MTTM-6.
MTTM-6 Marketing For Tourism Managers
What is Marketing Mix?
The marketing mix is a tool that helps businesses to manage by various strategies and by four elements as well. The four elements include product, price, place, and promotion. With the help of these 4 four elements, there is a push in marketing and we can easily attract a wide range of audience.
Name the 4Ps of Marketing.
- Product – It is the main element of the business. It refers to the tangible product that an organization offers to the customers. The product covers quality, branding, design, features, packaging, etc. Without a product, a business cannot be started.
- Price- It refers to the cost of a product. Basically whatever expense is spent on the product whether it’s packing cost, production cost, labeling cost, etc. comes under this section.
- Place- It refers to where the product has to be kept and made or manufactured of products. It involves retailers and wholesalers and ensures that the products are available for the customer at the right place.
- Promotion- It refers to the promotion of products through various channels such as sales promotion, personal selling, website, social media, blog, etc. Promotion focuses on both offline and online marketing. Promotion plays an important part as through promotion only people will get to know about the particular product.
Define Retailer
A retailer is a shopkeeper who buys the product wholesale at cheap rates and directly sells to the consumers at their own price and profit margin. Retailers directly face to face meet with the customer and convince him to buy the product or according to consumer needs and preferences offer that product only to purchase. Retailers usually have physical stores, supermarkets, medical stores, etc. where they directly come in touch with consumers and also build long-term relationships.
Define Wholesaler
A wholesaler is an individual who buys the product in bulk or large quantities directly from the manufacturer or supplier and sells it to the retailer. A wholesaler is considered a middleman between the manufacturer and the retailer. The wholesaler usually purchases the goods in large quantities and stores them in the warehouse and then the retailer comes and buys a small quantity of products from the wholesaler, Usually, the retailer does not buy directly from the manufacturer because then they have to buy in bulk so that is why they consider buying from a wholesaler.
How promotion of product can be done.
Promotion of products can be done through various platforms:-
- Nowadays as we know social media is on the top as people of all age groups are so active on social media and it is also considered the best and fastest path for the promotion of the product.
- For eg we can promote through YouTube, Facebook, Instagram, Twitter, etc.
- Blog – Nowadays people are in the habit of writing articles for a specific product on a website and promoting the product as well and lots of people like to read the articles.
- Newspaper and radio – Various companies still promote their product through newspapers and radio which is the old means of media to do promotion.
- Social Media Influencer and Collaborations- As we know social media have so much of an audience that many agencies or companies hire them for sponsorship of their product so that it reaches many audience audiences.
- Email Marketing- It is also trending as lots of people send emails personally to clients to promote their products.
- Facebook Ads and Google Ads – These Ads are also trending as they are being watched by many people and people have started promoting their products through these ads.
What is Marketing Research?
Marketing research is a systematic way of gathering information related to products, consumer behavior towards the product, and marketing strategies, to improve one’s business. It helps to gather data from market trends, surveys, and competition to identify the customer’s needs and preferences, market opportunities, threats, etc. effectively.
Purpose of Marketing Research
Here are some purposes of market research:-
- The purpose of market research is to understand the customer’s needs and preferences related to the products by seeing the product and how they react, what they want, and what their priorities related to the product.
- Market research helps to understand business better and helps in making good decisions related to the pricing, creation of products, designing ads, choosing the right platform for promotion, etc.
- It also helps in understanding the competitor’s competitors that what are their strategies for promotion and making the product different and unique that have been liked by most people.
- Market research helps in monitoring the weaknesses and strengths and provides customers’ perception to develop Innova strategies.
- With the help of market research it has become quite easy to improve the product, which helps in gaining customer satisfaction and building long-term relationships with the customers and in the marketplace.
What is a decision?
Decision refers to the choice made by the individual between multiple options. For example- A 12th-passed student who passes out of school has many options in which college he should be admitted to, and in the end, he takes admission to that particular college according to his preferences, location, and needs. Basically while making a decision he has to figure out which option is best for him. The decision usually involves risk, value, benefits, preferences, needs, and future goals so while taking any decision don’t take pressure or be in a hurry, Always take your time while making or taking any decision.
What is a product?
Product means creating tangible products that the consumer can see, touch, and consume. It is done to increase user engagement and experience. The product contains some factors that should be kept in mind like manufacturing, material, label, name, and color which can engage a large audience and attract them as well. Without product a person cannot start his / her business, so product also plays a very important role in business as well.
Types of a Product
- Here are various types of products:-
Consumer Products – Consumer products are designed to come in use for consumers like groceries, cars, appliances, and furniture. Services also come under consumer products like hair spas, massages, haircuts, nail art, hotel services, travel services, restaurant services, medical checkups, car repair services, etc. - Industrial Products – These products are designed to come in use for businessmen, manufacturers, and suppliers. For example – Paper, Wood, Oil, etc. Industrial products are referred to as long-lasting products which is why most businessmen use them and purchase them from manufacturers or suppliers.
- Shopping products – These products are purchased by the consumer directly from the market, supermarket, market, mall, etc. For example – clothes, jewelry, shoes, slippers, bags, food etc.
- Digital Products- Nowadays digital products are trending as most people are selling and buying digital products. For example – online courses, online notes, e-books, audiobooks, etc.
What is a Brand name?
Brand refers to the unique name that businessmen put so that people can identify their product and make out that this brand is of this particular company. It is identification through which people come to know about your products and makes them remember easily. An innovative and strong name of the brand helps to stand out in a crowded market and people easily can identify, recognize, and build trust as well.
What is a trademark?
Trade mark refers to the logo that the company puts on the product so that people just by looking at the logo can recognise that this logo is of our brand. It helps to create a different reputation in the market and a good and innovative logo also attracts a lot of people in the market. For example – Nike sports shoes have a very good logo and it’s a famous brand By looking at its logo people easily recognize that these shoes are of Nike and as we know Nike has its name and fame in the market.
Role of Personal Selling
Here are some key roles of personal selling:-
- Personal selling involves the salesperson coming in touch with the customer directly, but in Personal selling, trust is easily created.
- In personal selling, the consumer can directly ask the salesperson any doubt he is facing.
- Personal selling is considered an old form of selling the product to the client directly and the salesperson directly has words with the consumer, he gets an idea of what are the consumer’s needs and preferences and according to that, he tells about the product accordingly.
What is Cyber Marketing?
Cyber Marketing is also known as digital marketing, it is the platform to promote the product digitally and online with the help of the internet and website. For example, various digital products are in demand like e-books, online notes, online courses, etc.
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You may like this:-
| S.no | Topic (Click on this Link) |
| 1. | MTTM-5 Notes |
| 2. | MTTM-7 Notes |
| 3. | MICE Tourism |
| 4. | 5 Characteristics of Tourism Product |
| 5. | Star Classification of Hotels |
FAQs
What are the 4 A's of tourism marketing?
The 4 A's of tourism marketing are an attraction, accommodation, accessibility and amenities.
What are the 4 segments of tourism?
The 4 segment of tourism are Food and Beverage, Accommodation, Travel and Tourism and Entertainment and Recreation.
What is tourism 11?
Basically the tourism 11 gives you an introduction to the tourism industry.
What is fifth P in tourism marketing?
The fifth P in tourism marketing is People.
Conclusion
Mttm-6 is all about Marketing For Tourism Managers. This post covers topics like What is Marketing Mix, the 4Ps of Marketing, Define Retailer, Wholesaler, promotion of product, What is Marketing Research, Purpose of Marketing Research, What is a decision, What is a product, Types of Product, Brand name, trademark, Role of Personal Selling and What is Cyber Marketing. Here you will find the all important aspects of MTTM-6 for exam preparation and assignment.