Search results
Results From The WOW.Com Content Network
A destination marketing organization (DMO) is an organisation which promotes a location as an attractive travel destination. DMOs are known as tourist boards, tourism authorities or "Convention and Visitors Bureaus". [1] They primarily exist to provide information to leisure travelers.
Meetings, incentives, conferences and exhibitions tourism (MICE tourism) is a type of tourism in which large groups, usually planned well in advance, are brought together. Recently there has been an industry trend toward using the term "meetings industry" to avoid confusion from the acronym. [ 1 ]
Marketing strategy refers to efforts undertaken by an organization to increase its sales and achieve competitive advantage. [1] In other words, it is the method of advertising a company's products to the public through an established plan through the meticulous planning and organization of ideas, data, and information.
In 2018, the number of MICE visitors in Thailand peaked at two million, dropping sharply the following year due to the COVID-19 pandemic but still staying above the levels from 2016 (1.27 million visitors). [8] As of 2022, Thailand's MICE industry has shown remarkable resilience and growth.
Meetings occur regularly for internal communication, decision-making, and strategic planning, contributing to a stable and prominent market position. The diversity in the scale and purpose of meetings, ranging from small board meetings to large international conferences, allows the MICE industry to cater to a broad spectrum of business needs.
Stakeholders can affect or be affected by the organization's actions, objectives and policies. Some examples of key stakeholders are creditors, directors, employees, government (and its agencies), owners (shareholders), suppliers, unions, and the community from which the business draws its resources. Not all stakeholders are equal.
In management, a stakeholder approach is the practice that managers formulate and implement processes that satisfy stakeholders' needs to ensure long-term success. [1] According to the degree of participation of the different groups, the company can take advantage of market imperfections to create valuable opportunities.
Marketing mix is the most important part of marketing strategy, which is "the framework to manage marketing and incorporate it within a business context [6] ". Marketing strategy: how a business achieves its marketing objectives. The initial step to achieve a marketing strategy is to identify the market target and build up a business plan. [6]