Hospitality Industry Marketing
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The paper discusses the service industry, noting that profitability and viability are primary concerns among today's service markets. The paper states that service-oriented firms in today's market have to work in a competitive industry, one where the viability of a firm is contingent on the loyal influx of clients. The paper concludes that the secret to success is a firm's ability to recognize what their client wants, rather than providing general benefits to customers.
From the Paper:"There are more opportunities now than ever before for firms to retain quality and loyal customers Ganesh, Arnold and Reynolds (2000). The secret to success is a firm's ability to recognize what their client or customer base wants, rather than providing general benefits to customers. Because the world of technology has "globalized" the marketplace, and more so than ever before consumers are technology oriented, any hospitality service should look at their knowledgeable customer base and determine what motivates them to use their services and recommend their services to others."
Sample of Sources Used:
- Crosby, Lawrence A., Kenneth, R., Evans, R. and Cowles, Deborah. "Relationship Quality in Services and Selling: An Interpersonal Influence Perspective," Journal of Marketing, 54(July), 1990: pp.68-81.
- Ganesh, J., Arnold, M.J., and Reynolds, K.E. "Understanding the Customer Base of Service Providers: An Examination of the Differences between Switchers and Stayers." Journal of Marketing, No. 64.1, July 2000: pp.65-87Keaveney, S. "Customer Switching Behavior in Service Industries: An Exploratory Study," Journal of Marketing, 59.1995, pp.71-82
- O'Brien, Louise and Jones, Charles. "Do Rewards Really Create Loyalty?" Harvard Business Review, 73 (May/June: 1978): pp. 75-83
- Oliver, Richard L. "A Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions," Journal of Marketing Research, 17.1:1980, pp.460-69.
- Reicheld, Frederick and Kenny, David W. "The Hidden Advantages of Customer Retention," Journal of Retail Banking, 4 (Winter):1990, pp. 19-23.
Cite this Research Paper:
Hospitality Industry Marketing (2008, July 30) Retrieved December 06, 2021, from https://www.academon.com/research-paper/hospitality-industry-marketing-106255/
"Hospitality Industry Marketing" 30 July 2008. Web. 06 December. 2021. <https://www.academon.com/research-paper/hospitality-industry-marketing-106255/>