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| Business Plan | A formal document, which assesses a business's strengths and weaknesses, analyzes the competition and marketing conditions, and provides various strategies for success. |
| Competitive Criteria | An analysis of how well a new product or service meets the preference of consumers in relation to existing competition. |
| Demographics | The characteristics of human populations and population segments, especially when used to identify consumer markets. |
| Market Mix | The combination of all the kinds of customers market segments to which a product or service will be marketed. |
| Marketing Mix | The total combination of marketing tactics and tools employed to ensure a product, or service's success. |
| Marketing | Identifying potential customers' needs and desires, developing products and services to meet needs and desires, and using advertising and other tools to persuade customers. |
| Marketing Conditions | The social and economic context within which a product or service is marketed or exchanged. |
| Marketing Orientation | A business perspective that focuses on and emphasizes the needs and desires of customers. |
| Marketing Plan | Provides the results of market research in analyzing market conditions and competition, and details a strategy to reach particular market segments and persuade them to purchase a product or service. |
| Positioning | A marketing strategy which attempts to "position" a product or service favorably in comparison with the competition, or "position" it to better serve particular market segments. |
| Product Life Cycle | A series of stages used to distinguish between different phases in the life or duration of a product. The stages of a product life cycle are introduction, growth, maturity, and decline. |
| Product Orientation | A business orientation that concentrates more on the manufacture and distribution of a product or service than on the needs of customers. |
| Sales Orientation | A business orientation that focuses more on increasing sales and promotional efforts than on the actual needs or desires of customers. |
| Psychographics | The measurement of personality traits, attitudes, interests, activities, and values from a marketing perspective. |
| Societal Orientation | A business orientation that focuses on the needs of customers but, in addition, tries to assure that a product or service is not harmful to society as a whole. |
| Target Markets | Distinctly defined groupings of potential buyers (market segments) at which sellers aim or " target their marketing efforts. |
| Market Segmentation | Further break down the broad target markets into smaller segments to more efficiently focus its marketing efforts on a more distinctly defined target market. |
| Market Research | The systematic study of any issue, problem, or phenomenon related to the marketing of a product or service. |
| Monitoring | Consists of daily sales reports, guest counts, and other management reports designed to provide information on a firm's current performance and its progress toward meeting operational goals. |
| Market Analysis | A part of the market research that analyzes aspects of the marketplace to determine the potential of a product or service. |
| Internal Marketing | A type of marketing that focuses on employees as customers- in effect, " selling" employees on the values important to management. |
| Interactive Marketing | A form of marketing based on the premise that marketing doesn't stop when a tourist arrives at a destination. |
| Geography | In reference to tourism, the science of locating tourism destinations, routing vacations, and moving people from one place to another. |
| Forecasting | An educated guess about future trends, events, sales levels, etc., based on data collected both within and outside a tourism operation. |
| Culture | A complex set of learned beliefs, customs, skills, habits, traditions, and knowledge shared by members of a society. |
