Identify the elements of sales and marketing.

Identification should include

• marketing strategy—a plan of action to allocate resources toward the greatest opportunities to increase sales and achieve a sustainable competitive advantage
• law of supply and demand—the market price of a good is the intersection of consumer demand and producer supply
• market planning—a research-based process that provides recommendations about products, prices, market locations, and promotions
• target marketing—a plan to sell goods and services to a specific audience or demographic, based on age, gender, geography, and/or socioeconomic grouping
• technology—tools available to market.

Process/Skill Questions:

Thinking

• What are examples of hotel marketing strategies?
• What are the consequences of not analyzing the elements of marketing?

Communication

• How can a target audience be identified?

Leadership

• What do leaders need to know about the various elements of marketing to provide new marketing ideas to a hotel?
• How can leaders best target a chosen market?

Management

• What tools and resources help determine new marketing strategies?
• How can managers maximize the use of these tools and resources?