Chapter 3 - Introduction to Marketing

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1. identify the needs and wants of target customers
2. satisfy customers in ways that are better than competitors

product ; the item/product that you are going to sell for your business

price ; how much you are going to price your product

place ; where you are going to locate your store in order to sell your product

promotion ; the ways you are going to use to attract your customers

know your customers process ; identify potential customers and understand the needs and wants of the them

applying the marketing mix process ; apply the 4Ps of marketing and satisfy customers better than your competitors will

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identify the potential customer by grouping them in ways they are similar like ;

Benefits sought ; what do they want from the product?

Income ; how much do they earn per month?

Gender ; are they a male or a female?


Geographical location ; where do they live or work at?

Occupation ; what do they work as?

Age ; what age group do they belong to?

Lifestyle ; what activities do they engage in? what are their interest & habits?

Social group ; who do they socialise with?

types of tourists ;

leisure tourists ; people who travel for pleasure, rest & relaxation. they enjoy activities such as visiting places of interest and shopping

business tourists ; people who travel because of their jobs like for meetings or training. they tend to have a fixed schedule and little time for recreational activities

medical tourists ; people who travel to seek medical treatment from another country. they may include some leisure activities during the same trip

mature tourists ; elderly people who travel for pleasure, rest & relaxation. they have money & time and tend to enjoy historical and cultural sites, they usually buy tour packages

stopover tourists ; people who stop at a particular country to break a long flight. they usually stay for a short period of time.

special interest tourists ; people who travel to pursue their hobbies and interests outside of their own countries

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what is a market survey? a market survey is a way for businesses to gather information about their customers preference and buying habits.

steps of conducting market survey?
1. decide on the objectives of the market survey ; what do the businesses want to find out?
2. choose survey methods ; how do businesses conduct the survey
3. design the questionnaire ; what do businesses want to ask?
4. conduct the survey ; how do we ask the question and record data?
5. analyse the data ; what have we learnt?

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personal survey ; involves face to face interaction with respondents. it can take place at the respondents homes or at public places such as streets and shopping centers. while conducting the survey, interviewers can observe the reactions and behaviours of respondents and gather immediate feedback.

telephone survey ; involves and interviewer or it may be fully automated. telephone surveys are popular choices nowadays as many people own mobile phones. this survey method is useful for getting quick answers to simple questions. however, they are easy to ignore and can result in a survey not getting enough respondents and thus, not enough data to analyse accurately.

postal survey ; involves mailing questionnaires to potential respondents. it may be accompanied by pictures or product samples. a postal survey is a quick way to reach out to a large number of people. however, if there is not incentive to complete nd return the questionnaire, not many people will respond.

online survey ; involves sending questionnaires to respondents either through email or websites, blogs & social networking sites. it is cheap and fast to conduct online surveys. however, respondents may not be truthful in their responses as they can remain anonymous.

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close ended questions ; is a type of question that can be answered quickly by choosing from a set of options like MCQ's

open ended questions ; is a type of question that respondents can create their own answers to

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1. frequency table
2. bar chart
3. pie chart