Chapter 6 The Importance of Market Research
DOI: 10.23912/9781915097132-5078 | ISBN: 9781915097132 |
Published: March 2022 | Component type: chapter |
Published in: Customer Service for Hospitality and Tourism 3rd edn | Parent DOI: 10.23912/9781915097132-5067 |
Abstract
The focus of market research is on the analysis of markets (Kinnear et al., 1993), and it is a critical marketing function. Unfortunately, in the tourism and hospitality sector, many smaller organizations feel that ‘real’ market research is a costly and time-consuming luxury only available to large companies that have professional research staff, sophisticated computers, and almost unlimited budgets. Other organizations see market research as something to be undertaken when a major event is about to occur – the introduction of a new product, the acquisition of a new property, or a change in target markets. Its value at these junctures is recognized, but its ability to contribute to an organization’s success on a day-to- day basis is often overlooked. Another common problem in the tourism industry is that organizations are not making full use of the information that already exists and is easily accessed. Sometimes information is available and studies are done, but the results are either ignored or not fully considered in the final decision- making process. The opening Spotlight profiles a hotel in Hong Kong that understand the significance of doing research in order to provide guests with the best possible experience.
Contributors
- Dr. Simon Hudson, University of South Carolina (Author)
- Louise Hudson, Freelance Journalist (Author)
For the source title:
- Dr. Simon Hudson, University of South Carolina (Author)
- Louise Hudson, Freelance Journalist (Author)
Cite as
Hudson & Hudson, 2022
Hudson, D.S. & Hudson, L. (2022) "Chapter 6 The Importance of Market Research" In: Hudson, D.S. & Hudson, L. (ed) . Oxford: Goodfellow Publishers http://dx.doi.org/10.23912/9781915097132-5078
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