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The crisis which the three‐“S” resorts face is their manifest incapacity to respond to the new demands placed on them by the market‐conscious, experienced, well‐travelled…
The crisis which the three‐“S” resorts face is their manifest incapacity to respond to the new demands placed on them by the market‐conscious, experienced, well‐travelled tourist of the twenty‐first century. An increasing proportion of these “mature tourists” is over 55 years of age and female. The tourist industry must adapt to the different requirements of this population.
This article addresses religious tolerance for Sabbath‐keepers in the hospitality industry. The authors approach this issue by assessing the perception of managers in the…
This article addresses religious tolerance for Sabbath‐keepers in the hospitality industry. The authors approach this issue by assessing the perception of managers in the Jamaican tourism industry on this topic. A major finding was that managers are reluctant to employ persons who have a strong desire to observe the Sabbath. The researchers also discovered that the law does not provide specific provisions to protect the rights of Sabbath‐keepers. Managers are, however, willing to make arrangements to facilitate these individuals whenever possible. This augurs well for students of hospitality management who desire to observe the Sabbath. More research on this topic is needed since this study is by no means exhaustive.
The travel industry in Belgium has gone through a number of notable changes in recent decades. One of the most important trends is the growth of the organised travel market in Belgium. Belgian holidaymakers are turning increasingly to travel intermediaries in general and to travel agents and tour operators in particular. The successive surveys of Belgian travel behaviour carried out by WES since the early eighties illustrate the increase in the number of long holidays booked through a tour operator. These rose from 900,000 in 1985 to 2,300,000 in 1996 and around 2,700,000 today.
In 1951 23 ½ million Britons took 25 million holidays in Britain. In 1960 this had increased to 26 million Britons taking 31½ million holidays in Britain. Since 1960 there…
In 1951 23 ½ million Britons took 25 million holidays in Britain. In 1960 this had increased to 26 million Britons taking 31½ million holidays in Britain. Since 1960 there has been no appreciable increase either in the number of holiday makers or the number of holidays taken, thus in 1966 some 25 million holiday makers took 31 million holidays in Britain.
The case seeks an intensive reading, research and a stimulating in-class discussion on implementing marketing strategy mixed with creating experience in the service…
The case seeks an intensive reading, research and a stimulating in-class discussion on implementing marketing strategy mixed with creating experience in the service industry creating a Pull branding. The case is also open to other angles as per the other intents and context of the course and course instructor. Some of the course angles are as follows: sales promotion, customer relationship management (CRM), channel sales, international marketing and branding.
The case is suited to many courses including online formats and executive training workshops. It is good for discussion with service industry. Some of the target groups are listed below: MBA Course, core course of strategic management, specialisation courses in service marketing, CRM and sales promotion, executive training workshops on strategy formulations, faculty development workshops on teaching pedagogy through cases and internal marketing and capstone courses.
Millionaires Holidays & Resorts Ltd. (MHRL) is a part of the Leisure and Hospitality sector of the Millionaires Group and brings to the industry values such as Reliability, Trust and Customer Satisfaction. Millionaires Club is a part of the Hospitality sector of the Millionaires Group. Taking advantage of the high income earned by Indians in the UAE, Millionaires Club has taken initiatives of expansion in the UAE market. The case talks about how Millionaires Club has become a Pull brand by providing unmatched family holiday experience in India where members feel proud to be part of special community. The case takes us through different marketing strategies being adopted by the organisation to ensure a successful foothold in the UAE market.
Expected learning outcomes
Understanding the process of service marketing, understanding how brands are built over time, analyzing deeply and energetically the United Arab Emirates holiday industry, analyzing the importance of customer satisfaction and CRM,, analyzing the importance of corporate social responsibility, understanding the importance of experiential marketing and developing futuristic ideas and thinking to change the way to see the use of marketing strategy in organisations.
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Perhaps, at the outset, I should tell you something about the British Travel and Holidays Association. The Association was formed in 1929 by a few far‐seeing enthusiasts from the transport and hotel industries. It was known as the Travel and Industrial Development Association of Great Britain and Ireland, and it struggled valiantly, with very little support from either Government or the industries it sought to serve, to develop the ‘Come to Britain’ campaign. In those early days, and indeed to some extent even to‐day, it was not considered very respectable for a great nation like Britain to engage in the business of tourism. The British people have never really been very interested in the tourist business. Our position as an island nation with great wealth and investments overseas has tended to make us keener on travelling abroad than on attracting to visit us. The losses consequent upon two world wars, however, have changed our economic position. New sources of income have had to be found to enable us to pay for the imports of food and raw materials on which our very existence depends. One of the greatest of these sources, as I shall try to illustrate to you, is the income in the form of ‘invisible exports’ engendered by the tourist industry.
In the field of strategic management, the majority of studies analyse competitive environments from an economic standpoint, based on the implicit notion that business…
In the field of strategic management, the majority of studies analyse competitive environments from an economic standpoint, based on the implicit notion that business environments are formal and objective. As such, the human element is assumed and the role that managers play in creating and changing competitive environments is neglected. However, given that people take business decisions and drive organisations, to ignore such an important dimension of the competitive landscape is a considerable limitation to developing more holistic understandings about competitive landscapes. This study examines how managers perceive competitive terrains and discusses the impact of managerial cognitions on decision‐making, competitive strategies and industry dynamics.
The research is cross‐sectional and based on primary research. It involves semi‐structured face‐to‐face interviews with the sample size near to the sampling frame of the research. The industry examined is the mainstream UK foreign package holidays industry and the investigation occurred between March and August 2003.
It was found that managers view industries and competitors subjectively and that the social construction of competitive environments as well as the process of competitive enactment both influence managerial perceptions of competition. Consequently, similarities about competitive challenges are formed. Subsequently, such perceptions affect strategic decisions on competitive strategies and resource allocation. As a result, these actions affect industry dynamics and contribute to the evolution of the industry. Originality/value The study investigates an industry that has not been previously examined in the context of either strategic groups or from a cognitive perspective. Consequently, it provides fresh findings in the field to enable greater generalisation of results since cognition represents only a minor portion of the body of literature in the wider area of strategic management.
The house money effect is proposed to describe that people appear to consider large or unexpected wealth gains to be distinct from the rest of their wealth, and are thus…
The house money effect is proposed to describe that people appear to consider large or unexpected wealth gains to be distinct from the rest of their wealth, and are thus more willing to gamble with such gains than they ordinarily would be. On the other hand, the availability heuristic describes that people tend to have a cognitive and systematic bias due to their reliance on easily available or associational information. The purpose of this paper is to employ these behavioral perspectives in an empirical model regarding the January anomaly to explore investor behavior in Taiwanese stock market with bonus culture and well-known electronics industry.
This study uses the conventional and standard dummy variable regression model, as employed in prior studies, and further includes some control variables for firm, industry and macro-economic level factors. Moreover, 19 industrial indices for Taiwanese stock market over the period January 1990 to December 2014 are included in this study to examine the hypotheses, except for the 1997 Asian financial crisis and the global financial crisis period of 2007-2009 to avoid the potential effect. On the other hand, the authors also use the entire sample period of 1990-2014 for understanding whether the magnitude of January effect is different.
The empirical results indicate that Chinese bonus payments in January induce a strong January effect in the Taiwanese stock market, especially when most listed firms have positive earnings growth in the preceding year, suggesting a house money effect. Moreover, this study further provides some preliminary evidence that the higher January returns due to bonus culture are apparent only in the electronics industry when both Chinese New Year and bonus payments are in January, implying the role of availability heuristic based on the electronics stocks in investor behavior before the impending stock exchange holidays. Some robust tests show qualitative support.
The major contribution of this study is to extend the existing research by incorporating cultural and industrial factors with behavioral finance, thus enriching the literature on the causes of seasonality for Asian stock markets.
This study also has behavioral implications of investments for investors in the Taiwanese stock market, especially for foreign institutional investors which pay close attention to this market.
This study first applies and examines the culture bonus hypothesis with regard to how employees who receive culture bonuses in January can change their attitudes toward risk and induce the January effect from the concept of mental accounting. Moreover, this study further proposes and examines the extended culture bonus hypothesis related to how the January effect due to culture bonus is different for the electronics and non-electronics industries when taking into account the stock market holidays from the concept of availability heuristic.
This study was conducted to examine hotel and holiday village general managers’ (GMs’) turnover and to identify root causes of GM turnover. GMs who were serving five‐star hotels and first‐class holiday villages operating mainly in coastal sides of Turkey (mostly the Aegean coast and the Mediterranean coast) were researched. GMs in 144 hotels and holiday villages were faxed a one‐page survey instrument developed by the researcher. At the end of two rounds, out of 144 GMs, 56 responded to the instrument. Analyzing the data, it is found that GMs are quitting hotels after 3.3 years on average, and hotels tended to change GMs every 2.5 years. The main causes of GM turnover are: management conflict and problems between property owners and GMs; and GMs’ career moves.
The competitive strategies of international tour operators have had a negative effect on the sustainability of some tourist destinations. British tour operator strategies…
The competitive strategies of international tour operators have had a negative effect on the sustainability of some tourist destinations. British tour operator strategies are analysed as an example to show the effects of vertical integration amongst tour operators, travel retailers and airlines and how this influences pricing and contracting methods in resorts. Also considered are developments in market segmentation and tour operator branding which have accelerated the trend towards standardised holiday products. The consolidation of ownership amongst European tour operators in likely to increase the power of companies vis‐à‐vis destinations. The study concludes by outlining policies to counteract the negative effects of tour operator strategies and suggests ways of developing a more balanced partnership between mass market tour operators and tourist destinations.