However, the need market is quite limited when comparing to the fun market, which includes people of various interests. The need market is a niche segment and so the the corresponding customer base is relatively small. But targeting the need market can avoid excessive advertising fees as needed in the fun market and the effectiveness of advertising is higher when the focus of need market is shaper. Also, the fun market is highly saturated while need market is not, having rooms of expansion. Therefore, it is recommended that Nanda should focus on the need market since it would be more feasible in terms of limited funds.
CHAPTER – III CONCEPTUAL FRAMEWORK OF THE STUDY 3.1 Introduction Brand loyalty implies that consumer have a good attitude towards a particular brand over other competing brands. Brand loyal consumers may be willing to pay more for a brand because they perceive some unique value in the brand that no alternative can provide (Oliver1993) . Brand loyalty, long a central construct in marketing, is a measure of the attachment that a customer has to a brand. It reflects how likely a customer will be to switch to another brand, especially when that brand makes a changes, either in price or in product features. As brand loyalty increase, the vulnerability of the customer base to competitive action is reduced.
First, there can be imbalanced situation between needs and access for different interested groups. Secondly, there is a chance for more competitive atmospehere between suppliers of cultural heritage. Furthermore, cultural heritage sites can also be more neglected for not providing suitable interaction sites, while consumers can be socially excluded for not being able to using e-services. (Leeuwen & Nijkamp
Word of mouth (WOM) is seen as a persuasive and influential tool when it comes to consumer purchase decision. The traditional marketing efforts seems to be losing influence or the element of persuasion over the consumers as they trust WOM more than these techniques. WOM has more influence over consumer purchase decision as compared to other traditional forms of marketing (Trusov et al. 2006). This form of marketing seems to be successful as cost for this marketing concept is low and has the ability to target large masses at the same time.
The VTTS is often the primary benefit of a transportation investment as it helps to identify the main advantages provided by this investment. The demand derived for travel time is negative as people are willing to pay more to have less of it. If the LRTS reduces the time spent on traveling, the traveling conditions which are wearisome, prolonged or involved discomforts will also be reduce and the time saved can be beneficially spent on recreation or economic
Probably the most important limitation is that they only have little control over its valence or degree to which it is spread. Positive and favourable WOM may increase the purchase probability of the recipient; however negative WOM has the opposite effect and can damage the reputation of the product or service severely. Samson (2006) stated that people tend to give greater weight to negative than positive information and therefore are more likely to remember the negative information and events. This is the so-called “negativity bias”. Moreover he stated that negative comments are likely to survive more easily across time and in the worst case the result of negative WOM can lead to bad publicity published in the internet.
Few benefits of effective sourcing decisions are mentioned as follows: • If orders are aggregated, better economies of scale can be achieved. • There is a significant reduction in the overall procurement costs by efficient procurement transactions. Design collaboration can result in products that are easier to produce and distribute, resulting in the overall cost reduction. It is one of the most important factors for supplier products that contribute a significant amount to product cost and value. • Good procurement processes can facilitate suppliers’ coordination and improve forecasting and planning.
By matching price to demand, hoteliers have a greater opportunity to capture higher profitability business during high demand periods. On the flip side, lower flexible rates during low demand season help generate additional demand that might not have existed before. Although, it is always wise to set a floor price, which should be equal to the lowest “positioning” price that you might be willing to accept for your product. The challenge of having a dynamic structure is that the revenue managers need to be on top of their game to manage demand as it is very easy to lose control of inventory if forecasting is erroneous. Having a revenue management system minimizes these errors; however, the majority of hotels today do not have a revenue management system as it could be expensive or might not have been budgeted.
However, according to the thriving of tourism, it has been negotiated by scholars whether tourism is bad or good. Because the impacts of tourism have generated both positive and negative outcomes to the destination. It can be said that tourism generates the growth in economics and improves the living of the local by providing facilities and infrastructure. On the other hand, some people argue that tourism has negatively generated socio-cultural impacts and caused several environmental problems. In my point of view, everything has its pros and cons; there is nothing in this world has only a positive side, there is always the drawbacks in contrast with its benefits, and so does tourism.
In the low-involvement condition, immediate rewards are more effective in building a program’s value than delayed rewards. This means that delayed rewards such as a mileage program can be justified in the high-involvement condition as long as they are linked with value-enhancingrewards. In the low-involvement condition, there may be a conflict of interest between the customer and the program sponsor, because the customer may be concerned with only the reward schedule and not the reward type. In cases of low involvement, immediate rewards such as lotteries are recommended because customers may purchase to receive