Consumer Behaviour and Insight

TASK 1

P1 Describe Various Social, Personal, Cultural & Psychological Factors Which Impacts Attitude And Behaviour of Customers in Hospitality Sector

(Covered in PPT)

P2 Mention How Trends of Customers Are Changing Due to The Influence of Digitalisation of Technology

(Covered in PPT)

TASK 2

P3 Define Aspects For Customer Decision Making Process And Present Purchasing Way For Selected Hospitality Service

Customer decision-making is a process where individuals take decision if they are interested in buying an offering of a firm or not. There exist multiple factors and stages which has a deep impact on CB (Shaw, McMaster and Newholm, 2016). Below are mentioned some stages related with customer's decision-making journey: 

• Need Recognition: This is the foremost stage where consumers analyse as well as identify & acknowledge their needs according to their expectations.
• Searching and gathering informatio: After analysing their needs, clients will start collecting information about all those products and services which can serve their purpose though online, digital and traditional media (Petersen, Kushwaha and Kumar, 2015).
• Evaluation the alternatives : Here, screening of all alternatives will be done so that most desired service or product can be selected in terms of durability, time and cost.
• Actual Purchase of product: In this aspect, customer will purchase most suitable product so that their expectation can be fulfilled without any compromise.
• Post-purchase evaluation (PPE): It is the final stage in which end user decide if purchasing product of service of a company is useful or not. If satisfaction level of customers is less they will not purchase the same product again in future.

There exist some stages which are followed by customers while mapping a purchasing path. These stages are discussed below:

• Pre purchase: Here, the customers will identify those hotels where they want to stay for their vacations or business purpose. To collect information about different hotels, internet and newspapers can be used.
• Purchase: After analysing all the hotels, customers will select a hotel such as Holiday Inn as their utmost choice so that all their needs can be fulfilled properly. Holiday inn is a four star hotel which offer standardised service to customers (Nagengast and et. al., 2014).
• Receive: Here, customers are using the chosen service or product. In case of Holiday Inn, at this stage customers will be staying there and demand services as per their choice and requirement.
• Post-purchase: In this stage, the consumers will identify if Holiday Inn is capable to provide expected services or not. If hotel has provided satisfactory service to customers then they will prefer repeat visits otherwise they will switch their preference to other hotel.

P4 Describe The Value For Marketers to Present a Purchasing Path And Acknowledging Decision Making of The End Users

Main goal of business firms is to make the satisfaction level of customer at higher scale so that sales and revenues are earned in appropriate manner. It is essential for business in Holiday Inn to map a path to purchase. Importance associated with this aspect is mentioned below:

• Increases ROI: Map to purchasing path benefits in acknowledging expectation and purchasing pattern of customers. By this, targeting customers in right manner is easy. This will helps Holiday Inn in earning high revenues and profits due to which ROI will also increase.
• Unifying consumer information: Mapping purchasing path helps Holiday Inn in arranging information and data of customers in systematic manner. By this, aligning needs of people in different sections is easy. By this, each customer can be given expected service without any compromise (Mortimer, Bougoure and FazalEHasan, 2015).

Also, mapping for purchasing path helps a company to understand different levels which are faced by customers at the time of product purchase. Some of these levels are discussed beneath:

• Extensive problem solving: Here, customers takes longest time to purchase products as they have no idea about the offerings of company.
• LPS (Limited Problem Solving): In this, customers already know about entities with offerings of a firm and other present alternatives. Here, Holiday inn need to put extra efforts to grab attention of Customers (Mihaela, 2015).
• Routine problem solving: In this level, customers purchases a product for large number of time and they don't require additional efforts from company.

TASK 3

P5 Differentiate Decision Making Processes Associated With B2B and B2C, Including Hospitality Examples

B2B and B2C are two ways by which an organisation can perform commercial transactions. In B2B, a company tries to sell their offerings to another company whereas in B2C, an organisation tries to sell their maximised services and products to their customers. Comparison in B2B and B2C are stated below:

P6 Mention Various Methods to Conduct MR And Different Research Methods to Understand Decision Making

Organisation cannot perform their functions as well as operations in appropriate manner without MR. Market research is very essential for a company as it benefits them to identify and acknowledge the changing demands & requirements of customers in a proper way. There exist different approaches and methods to conduct research. In context with Holiday Inn, these approaches are listed below:

Market research for Business to Business: In this kind of research, a company perform research to analyse the needs of other organisations so that a business contract can be signed with them. In this context manager in Holiday Inn can use secondary resources to collect information about other companies. With the help of secondary research, all information about a firm can be acknowledged. In this context, different source to collect information are stated below:

• Government agencies: Collection of data via governmental agencies and officials is the best way to gather authentic information about another company. This source will help Holiday Inn in identifying trade and laws related information of different firms (Hofacker, Malthouse and Sultan, 2016).
• Internet: By using internet, official website of a company can be checked so that all important data about them can be attained properly. Also, internet will help manager of cornered hotel in analysing reputation of another organisations so that they can decide if wooing them for business is beneficial or not.

Market Research for Business to customers: In this research, response and expectations of customers towards the offerings of company is identified so that required changes can be carried out properly. Also, this research will help Holiday Inn in identifying the changing needs of customers so that they can be provided modern products (Gargiulo, Natale and Russo, 2015). In this context, primary research method is best as it helps in collecting latest information about customers without any ambiguity. Sources in this context are written below:

• Questionnaire: This will help the manager in acknowledging choice of customers from a group of alternatives. By this, preference of maximum customers can be given priority. This will help the hotel in retaining customers for long time.
• Interviews: In this method, marketing team of Holiday Inn will ask multiple questions to their customers via face to face meetings. By this, changing needs of customers can be identified and they can be provided with right products and services.

TASK 4

P7 Analyse How The Marketers Can Impact Various Aspects of Decision Making

In order to achieve expected success and growth, managing behaviour of customers is essential for every organisation. This is because customers are the major earning source for an organisation. In context with hospitality industry, a marketer is needed to evaluate every business stage so that clients can be provided right services and overall profits of organisation will rise. In case of Holiday Inn, the marketer plays an essential role as in influencing decisions of the customers by implementing innovative strategies on regular basis. Manager in Holiday Inn is already providing pick and drop facility to the clients at airports and other travelling stations so that they can have comfortable experience with the hotel. This strategy of marketers in Holiday Inn distinct the hotel from their rivals and helps them in gaining competitive advantage in marketplace (Gargiulo, Natale and Russo, 2015).

Also, customised menu is offered to customers during their stay which motivates the customers to have repeat visits. In this way, marketer in Holiday Inn impacts the decision-making of customers and divert it positively towards the concerned hotel. Hence, it can be said that Marketing manager of Holiday Inn is needed to adopt new strategies so that customised services can be offered to clients according to their requirements. By this, right customers can be targeted for the right product. Getting right product will allow the customers to think positive about the hotel. By this, DM of customers can also be affected positively and profit as well as revenue is gained by Holiday Inn.

Also Read :- Consumer Behaviour and Decision Making

CONCLUSION

As per this assignment, it has been concluded that it is necessary for a company to check the attitude and perception of customers towards their products on regular basis. Appropriate behaviour of clients will assure high sales and revenues to the concerned company. Different factors like cultural, social and psychological aspect influence the mind state of customers in high manner. Changing trends related with hospitality industry are highly skilled staff, technological advancement, high activeness of customers etc. Also, best approaches to carry out market research are qualitative and qualitative approach. Also, it is acknowledged that market research is essential for a firm as it assist in acknowledging the needs of end users appropriately.

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