UNDERSTANDING CONSUMER BEHAVIOUR Assignment Example | Topics and Well Written Essays - 1500 words

UNDERSTANDING CONSUMER BEHAVIOUR - Assignment Example This is the stance of management ever since. Any marketing plan should begin with consumer and satisfying its wants because that is the only justification for the existence of a store, the Electro store for that matter. Electro Store should be able to understand the consumer’s needs, wants, desires, preferences, beliefs and other odd behaviors in order to win the customer. It is therefore the responsibility of Electro store to learn as much as possible these factors of potential customers. There are sociological factors that influence household purchasing decisions; these are cohesion, adaptability and communication. Cohesion is defined as the emotional bonding between family members. It measures how close to each other feel on an emotional level. It reflects a sense of connectedness to or separateness to other family members. Buying decisions are greatly influenced by the member of the family. There is no question that the bulk of household purchases are made by women, but major decisions like buying a car, appliances, or real property are jointly done by the husband and wife, and sometimes with consultation with children. A joint decision only shows cohesiveness of the family. Therefore when the buying decision is done the family as a group – the role of the marketers is to target the family through their marketing campaigns. Adaptability is described as the ability of the family to change its power, role, relationships, and relationship rules in response to situational and developmental stress. The degree of adaptability shows how well a family can meet the challenges presented by the situation. These challenges can come from reference groups that have the potentials of influencing behavior. Reference groups are groups of individuals that one interacts often. Examples are friends, family relatives, and co-workers. They have the potentials of influencing behavior. For example, if the product is visible like car, shoes or

Opportunities in the Hospitality Industry Assignment

Opportunities in the Hospitality Industry - Assignment Example Any part of hospitality industry such as theme parks, hotels regardless of its status and restaurants try to maximize the number of visitors and the turnover of the business. Almost all businesses in this line use various avenues for increasing their business and sales. One of these ways  is  eWOM.   The full form of eWOM is Electronic word of mouth and can be defined as the customer reviews that are posted on Social Media as well as other websites. The marketing experts have studied the importance and relation of eWOM with existing and future paying customers and the relation between content of  eWOMand increase in sales volume.   The main mediums of eWOM include blogs, social media sites such as facebook, pintereste, Twitter and others. This medium also includes various popular travel websites where most of the people do their bookings, chat rooms and other user-generated websites in this field. It is a fact that the hospitality business in UK must pay attention to these online reviews, as most of the potential customers prefer to check the reviews before booking of the room in any UK Hotel (Melià ¡n-Gonzà ¡lez, Santiago, Bulchand- Gidumal,, Jacques and Gonzà ¡lez Là ³pez-Valcà ¡rcel, Beatriz (2013)). Due to this, the hospitality industry should keep the  negative  reviews at minimum and positive reviews at the maximum. One way with which this can be done is to contact the person who  has  posted  negative  reviews and sort out the issue.   These studies also consider some factors such as the role of volume and valence of eWOM  for  an increase  in sales for future. The volume of reviews of any hotel affects the (RevPAR  revenue per room.  The valance refers to the ratio of positive review vs the negative review and has  a lot of effect over business of luxury hotels. The volume refers to the number of reviews posted on relevant websites, blogs and other social media (Melià ¡n-Gonzà ¡lez, Santiago, Bulchand- Gidumal,, Jacques and Gonzà ¡lez Là ³pez-Valcà ¡rcel,