ADM 3313 Lecture Notes - Lecture 6: Human Resources, Rafting, Adventure Travel

• School: University of Ottawa
• Department: Administration
• Course: ADM 3313
• Professor: Stephen Daze

Document Summary

Identifies prospects and determines how to turn them into clients o! Components of a marketing strategy in the business plan. Trends + target market + competition = positioning o! Determine if demand is growing, shrinking, or staying the same. Product life cycle (where is product in the cycle?) Production costs high on a per unit basis o! Costs declining on a per unit basis o! Sales grow but at a slower rate and peak at some point o! For most products maturity is the longest phase o! Profits peak and start to decline as sales drop due to competition o! Margins low: price decreasing to entice laggards o! competition based on price o! Because of small profit, many competitors leave, remaining are entrenched and have significant market share o! According to the department of commerce, the u. s. travel and tourism industry is the nation"s third largest retail industry and will be number one by the year 2000.