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What about profit? tourism managers act as if todays profit are primary
and customers satisfaction secondary. This attitude eventually sinks a firm as it
finds fewer repeat customers and faces increasingly negative word of mouth
Another study found out that there if a firm can increase its repeat
customers to 35 to 40%, they will have a 25% increase in profit
Dont look much at your company assets & your company getting bigger
but look how much happy customers you have & they are getting bigger.
Happy customers are willing to come back & pay for the service again.
When a business satisfies its customers, the customers will pay a fair price for
the product. A fair price includes a profit for the firm
A manager who forever try to maximize short-run profits are short-selling both
the customers and company
Management Philosophy
Remember to put customers first and reward the employees for serving the
customer well
A manager who forever try to maximize short-run profits are short-selling both
the customers and company
A manager who forever try to maximize short-run profits are short-selling both
the customers and company
The stream of profits a customer will create over the life of his or her
relationship to a business
This also includes the profit of the people who have learned about your
business from them
Product Orientation
Where do our talents lie?
Product Concept
The idea that consumer will favor products that offers the most quality ,
performance and features and therefore the organization should devote its energy
to making continuous product improvement
Sales Orientation
based on the ideas that people will buy more goods and services if
aggressive sales techniques are used and that higher sales result in higher profits.
Not only are sales to the final buyer emphasised but intermediaries are also
encouraged to push manufacturers products more aggressively. To sales-oriented
firms, marketing means selling things and collecting money
The idea that consumer will not buy enough of an organizations products
unless the organization undertakes a large selling and promotion effort
Marketing Orientation
The idea includes:
holds that the organization should determine the needs, wants and
interests of target markets & deliver the desired satisfaction more & efficiently
that competitors in a way that maintains or improves the consumers & societys
well-being. This concept questions whether the marketing concept is adequate in
an age of environmental problems, resources shortage, rapid population growth,
worldwide inflation & neglected social services (non-smoking floors, foods that
have more nutritional value, buses that use other form of power)
Service Culture
Marketing by a service firm to train effectively and motivates customercontact employees and all the supporting service people to work as a team
to provide customer satisfaction
Interactive marketing
want your employees to appear to your customers? Word of mouth is the best
marketing tool and not only comes from happy customers that refer your business, but
also employees being informative and proud when spreading the word about your
company.
Employer Branding
The word "branding" conjures up visions of market research reports, company
logos and product positioning meetings. Your products and services aren't the only
part of your company in need of promotion, though, especially if you want to
attract and retain top talent. People want to work with a company that boasts a good
reputation, that has a strong mission and vision. Showing people your company's
personality is important, especially in the current economic climate.
Attracting the Right Talent
Since small businesses almost always have tight budgets, even when times are
good, it's even more critical for you to get your staffing decisions right the first time. The
secret to attracting the people you want and need: align your HR strategy with
your business plan.
Keeping People Happy
One rule of marketing is that you should only promise what you can deliver. If
your product fails to live up to customer standards, loyalty and trust wane and your
brand collapses. Similarly, if you promise a work environment that you can't offer,
you'll hurt employee morale. While creating an image to attract top talent is
important, you also need to sustain it.
Keeping Up With Change
Markets change, and so do employee expectations. Just like brands have to
evolve to stay competitive, your employer brand has to change with employee
expectations. You need to stay on top of basic trends, like salary data, but you also
need to know what benefits your competitors are providing. Keep on top of news about
the top places to work in your field. You may be too small to provide a gym in-house like
a major corporate competitor, but maybe you could afford to offer fitness allowances.
Hiring
its not just about finding the right people to do the work, as companies are becoming
increasingly focused on reducing turnover
play an active role in hiring even you are already at the top position
consider your companys culture and management philosophy when looking for an
employee
Service Training
let the employees know what they're doing
save time
make the employees have a good feeling about the company
creates opportunities for career development and personal growth (an important factor
in retaining workers)
improve productivity and profitability
assures continuous competency
Empowerment
Rewarding
it acknowledges their importance
the reward available must be sufficient to satisfy basic needs
the reward should be equitable when compared with those of others
the process by which the rewards are distributed should be fair
managers distributing rewards should recognize individual differences, thus awards
should be individually orientated.
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