Macro and micro
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This document summarizes the key factors that influence hospitality marketing. It outlines both the macro environment including economic, social, political, technological and ecological factors. It also outlines the micro environment including competitors and customers. It then discusses how these environments influence consumer behavior and the buying process.
Macro and micro
- 1. Chapter 3 The Macro and Micro Environments of Hospitality Marketing
- 2. Macro Environment - Economy - Society and culture - Politics - Technology - Ecology Micro Environment - Competitors - Customers Hospitality Marketing
- 3. The Macro Environment Economy – Discretionary – Squeeze effect
- 4. The Squeeze Effect Fine Dining Theme Family Style Quick Service
- 5. The Macro Environment Economy – Discretionary – Squeeze effect Society and Culture – Trends – Demographics
- 6. Age Categories Seniors Boomers Gen X Gen Y Born ?? - 1945 1946-1964 1965-1978 1979-1994 Population 56 M 72 M 17 M 60 M Caucasian 85% 75% 69% 66% Defining idea Duty Individuality Diversity Anything goes Education is Dream Birthright Way to get Cultural ahead experience $ mgmt. Save Spend Hedge Spend
- 7. Demographic Changes Age Working women Family composition – DINKS
- 8. The Macro Environment Economy Society and Culture Politics Technology Ecology – Eco-efficiency
- 9. Micro Environment Competitors – Concentration vs. fragmentation Customers – Societal influences – Personal situations – Psychological influences
- 10. Societal Influences Families Culture – Subculture Socioeconomic status Reference group – Primary reference group – Secondary reference group – Aspiration group
- 11. Personal Situations Age Life cycle stages Psychographics – Activities, Interests, opinions (AIO)
- 13. Perception Forming Process Exposure Attention Comprehension Retention
- 14. Psychological Influences Perception Attitudes Personality – Ideal self-concept – Actual self-concept
- 15. Buying Process Problem awareness Information search – Importance of the decision – Prior experience – Perceived risk
- 16. Types of Risk Financial risk Social risk Performance risk
- 17. Buying Process Problem awareness Information search – Importance of the decision – Prior experience – Perceived risk – Sources of information Alternative evaluation Purchase decision Post-purchase evaluation
- 18. Consumer Problem-Solving Process Problem Information Alternative Purchase Post purchase Awareness Search Evaluation Decision Evaluation
- 19. Problem-Solving Continuum Complex Habitual decision- decision- making making
- 20. Variables Affecting Consumer Behavior Macro Environmental Micro Environmental Factors Factors • Economy • Competitors • Society and culture • Customers • Politics – Societal Influences • Technology – Personal Situations • Ecology – Psychological Influences Characteristics of the Buyer Buying Process