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Key Accounts and Contract Management - Coggle Diagram
Key Accounts and Contract Management
Business Law
Legally enforceable agreement between two or more people for a specific purpose
Conditions
A crucial term that gets to the core of the agreement
Warranties
A term of the contract that is not essential
Introduction to Hospitality and Tourism
Service characteristics
Inseparability
Both the service provider and the customer must be present for the transaction to occur
Variability
Services are highly variable or inconsistent
Perishability
Services cannot be stored for later sale or use
Intangibility
Services that cannot be seen, tasted, felt, heard, or smelt before they are purchased
Pull Motivation
By appealing attributes of travel destinations
Principles of Marketing
Four Ps of marketing
Promotion
Refers to a company’s total promotion mix or its marketing communications mix
Place
Refers to how products are distributed to customers
Product
A product is anything that can be offered to a market for attention, acquisition, use or consumption that may satisfy a want or a need. It includes physical objects, services, places, organisations, and ideas.
Price
The cost consumers pay for a product.
Market Segmentation
Demographic segmentation
Dividing the market based on population characteristics.
Psychographic segmentation
Dividing the market based on psychological attributes.
Geographic segmentation
Dividing the market based on where prospective buyers reside geographically.
Behavioural segmentation
Dividing the market based on the prospective buyer’s likely behaviour towards a certain product. It can also be their knowledge of or attitude towards the product in question.
Principles of Marketing
Departmentalisation
Traditional Approach
Functional Approach
The functional structure groups positions into departments based
on similar skills, expertise, work activities, and resource use.
Divisional Approach
The divisional structure occurs when departments are
grouped together based on similar organisational outputs.
Matrix Approach
The matrix approach combines aspects of both functional and divisional
structures simultaneously, in the same part of the organisation.
Innovative Approach
Network Approach
The organisation may be viewed as a central hub surrounded by a network of outside specialists, sometimes spread all over the world.
Team Approach
The vertical chain of command is a powerful means of control but passing all decisions up the hierarchy takes too long and keeps responsibility at the top.
Sales and Distribution
Negotiation
Working to reach an agreement that is mutually satisfactory to both buyer and
seller.
Customer Relationship Management
CRM is a technology for managing all of your company's customer and potential customer relationships and interactions.