Unlocking the Secrets of Customers' ChoicesCenter for Hospitality Research Publications
AbstractAnalysis based on field studies demonstrates the benefits of customer choice modeling (CCM) for the purpose of designing and evaluating product and service bundles for food-service and lodging businesses. Just as important, CCM allows managers to determine how customers react to those features. CCM depicts a dynamic comparison of various service attributes, and it shows managers how different market segments react to a particular bundle of services. Given that information, managers can fine tune their operation, if needed. Moreover, if the analysis shows that a particular market segment prizes a specific product or service attribute, the business can feature that attribute in advertising targeted at that segment. A spreadsheet template is available in conjunction with this report that will allow readers to manipulate CCM data so that they can see how the comparison operates.
Citation InformationVerma, R. (2007). Unlocking the secrets of customers' choices [Electronic article]. Cornell Hospitality Report, 7(2), 6-16.