6.7: Chapter Glossary and Notes

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Glossary

Selling. Selling focuses mainly on the firm’s desire to sell products for revenue. Advertising and personal selling are merely forms of promotion, and promotion is just one component of the marketing mix. The goal is to convince the consuming public to purchase and consume a portion of that mix.

Marketing. Marketing focuses on the needs of the consumer, ultimately benefiting the seller as well. When truly marketing a product or service, the needs of the consumer are a strong consideration from the very beginning of the product development process, and the product-service configuration aims at the unsatisfied needs of the consuming public.

Business plan. A business plan sets a direction for the restaurant before beginning work on the actual development; provides a reality check on the feasibility of the undertaking; sets budgets; and determines capital needed and attracts investors.

Marketing plan. An effective marketing plan includes all information pertinent to locating, attracting, and retaining customers.

Competitive methods. A clear picture in your own mind regarding ‘what’ and ‘how’ you intend to compete. This includes your capabilities and knowledge as a competitor and includes physical, human, and organizational capabilities.

Push promotion strategy. Marketing managers uses the ‘push promotion strategy’ when they want to push the product-service mix through the service delivery system or channels of distribution. This approach encourages an increase in purchases and consumption by consumers. This method includes point-of-sale displays, cooperative advertising, traditional and electronic collateral material such as brochures.

Pull promotion strategy. This strategy aims at stimulating consumers’ interest and having them pull the product through the channels of distribution. This in turn puts additional pressure on the retail outlets to supply the products and services most in demand by consumers. These methods include sampling, price reductions, coupons, combination offers, and premiums.

Notes

Advertising Age, May 10, 1999, p. 4.

Roman, Kenneth, and Jane Maas. 1976. How to advertise. NY: St. Martin’s Press.

Grohmann, H. Victor. 2003. Ten Keys to Successful Advertising. Cornell Hotel and Restaurant Administration Quarterly, 17(2).

Sandge. C. H., V. Fryburger, and K. Rotzoll. 1979. Advertising Theory and Practice. Homewood, IL: Richard D. Irwin.

Belch, George E., and Michael A. Belch. 1993. Introduction to Advertising and Promotion: An Integrated Marketing Communications Perspective, 2nd edition. Boston: Richard D. Irwin.

Crosby, Melanie A. 1998. Rewarding Regulars: Frequent-Diner Programs Keep Customers Coming Back for More. Restaurants USA.

Nykiel, Ronald A. 1983. Marketing in the Hospitality Industry. New York: Van Nostrand Reinhold.

Cosse, Jacques C. 1980. Ink and Air Time: A Public Relations Primer. The Cornell Hotel and Restaurant Administration Quarterly, 21(1).

Mplans. 2017. Standard Marketing Plan. https://www.mplans.com/marketing-plan-outline.php.