Glossary P

Product Life Cycle is the cyclical pattern of demand for most products from "new and exciting" to "old and dated." Almost all products (tourism and otherwise) have these cycles.

Read more …

Profile  is the information about a Traveler (i.e. Department, Title, Employee ID). Each Traveler must, prior to First use of iTravel, have a profile with all of the fields labeled in

Read more …

Profit is the excess of revenue over expenses, if expenses exceed revenues in a given period the organisation will make a loss.

Read more …

Profit margin  is a dollar Value that represents the Markup of a product"s price over its
costs.

Read more …

Deutsch: Progress / Español: Progrés / Português: Progress) / Français: Progress / Italiano: Progresso

In the context of travel, "progress" refers to the forward movement, development, or improvement made in various aspects of the travel experience. Travel progress can encompass a wide range of factors that contribute to a successful and enjoyable journey. These factors may include transportation, accommodation, itinerary planning, cultural understanding, and personal growth. Progress in travel often means achieving the goals and expectations set for a trip and having a positive impact on the traveler's life.

Read more …

Deutsch: Promotion / Español: Promoción / Français: Promotion / Italiano: Promozione

In the travel context, a "promotion" refers to a marketing strategy or campaign aimed at attracting more customers and encouraging travel bookings or visits to a specific destination, hotel, tour, or travel-related service. Travel promotions are designed to create awareness, generate interest, and ultimately drive sales by offering enticing incentives, discounts, or added value to potential travelers. These promotions can be implemented by travel companies, airlines, hotels, tour operators, travel agencies, and tourism boards.

Read more …

Promotion mix  is the promotion tools including advertising, direct marketing, sales
promotion, and public relations.

Read more …

Promotional Fare  is an airfare introduced to increase an airlines Market share or to promote service to a particular destination.

Read more …