engleski

The necessity of using marketing metrics in tourism

Daily, economic entities are confronted with new challenges that are constantly emerging on the modern tourist market in conditions of growing competition. Hence, managers need to master the theoretical and professional aspects of marketing to improve the competitive position of Croatian tourism on the global market by making effective marketing decisions. To this end, it is necessary to develop a modern process, as well as the instruments of decision-making, which will, depending on their effectiveness, have direct effects on the survival and further growth and development of businesses in tourism. Every economic entity needs to continuously monitor its performance. Foremost, this refers to monitoring a variety of financial measurements, together with other measurements that can indicate the level of success at which different marketing efforts are being carried out. A measurement refers to a criterion used to assess or evaluate something. In our case, it primarily refers to an assessment or evaluation of marketing efforts. By comparing current measurements with identical measurements from the past and, in particular, with the measurements of rivals, relevant conclusions and decisions can be made on how an economic entity should carry out its business policy in the future. This paper presents different sets of marketing measurements, which may serve as a kind of guidepost for diagnosing various market situations and states. It is important, therefore, to understand the interrelationships of various measurements encountered in marketing or through the operationalization of different marketing activities in a given moment. By helping to diagnose various market situations and states, the different sets of measurements described in this paper should, ultimately, enable economic entities engaged in tourism to make the right strategic marketing decisions.

marketing; metrics; measurements; decision-making; tourism

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