For the hospitality service industries, HBC comprehensive marketing service has seven major components :

• Analysis of the current or anticipated volume for the use of the facility or service by specific market segments both generic as to type and geographic as to location.

 

• Forecasts of future demand from each segment based on past usage trends and general economic conditions and market findings.

 

• Determination of the characteristics of current and future customers, e.g., age and income groups, geographic sources, and other factors that delineate the customer mix and seasonality of demand.

 

• Development of a ranking of the important influences in the use of the facility or service among such variables as location, convenience, quality, value, unique features, sales, advertising and promotion efforts, and overall reputation.

 

• Determination of how the facility or service is regarded by users and potential users relative to each of the influences derived during step four compared with competitive products or services and the reasons for these attitudes.

 

• Development of the profit potential for the facility or service, e.g. potential total revenue versus total marketing and promotion costs and setting of sales and profit goals.

 

• Preparation of a marketing plan to achieve these stated goals including pricing strategy, sales and advertising policies, quality control, and other pertinent operational questions.