1984 research outputs found
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Get PDFSociety of Industrial and Office Realtors International Council of Shopping Centers Most Outstanding Retail Real Estate Award Institute of Real Estate Management Most Outstanding Real Estate Award Westport Capital Partners Student Collaboration Award Capstone Advisors Most Outstanding Articles Awar
Why Recommend a Brand Face-to-Face but not on Facebook? How Word-Of-Mouth on Online Social Sites Differs From Traditional Word-of-Mouth
No full textWe examine the conceptual difference between consumer electronic word-of-mouth on online social sites (sWOM) such as Facebook and traditional face-to-face word-of-mouth (WOM). We find that consumers are less willing to engage in sWOM than WOM. Such a difference in willingness to offer word-of-mouth can be explained by social risk associated with different communication modes. We show that the difference between people’s desire to engage in sWOM and WOM is mediated by perceived social risk and amplified when social risk is made salient. Furthermore, we show that consumers’ need to self-enhance mitigates the difference in willingness to offer sWOM versus WOM
Winners and Losers during the Great Recession: The Positive Impact of Marketing Expenditures
No full textOne of the factors that separated winning hotels from losers in the recession was the hotels’ management of marketing expenses. By matching a group of 100 winners to 106 losers, based on high or low financial performance during the nadir of the recent recession, the study highlights the effects of marketing expenses as one primary driver of revenue and profit. The study compares the two groups’ revenue and profitability metrics to determine the two groups’ financial performance as the recession wore on. The results of this study show significant differences between winners and losers when measured by top-line indicators (Average Daily Rate [ADR], RevPAR, TRevPAR) and profitability (GOPPAR and NOIPAR). Winners were also found to spend significantly more on marketing than losers. The relationship between marketing expenditures and performance is significantly positive, with franchise expenses and other sales expenses emerging as the most important determinants of RevPAR, GOPPAR, and NOIPAR. In particular, these results highlight the importance of personal sales efforts, including promotions, familiarization trips, trade shows, and the training of sales personnel, personal sales visits to clients, and use of outside sales representatives to help hotels thrive in a recession. These data lead to the conclusion that firms that “invest” in marketing, especially in tough times, can achieve a payoff via various revenue drivers (e.g., trade shows) and will realize gains beyond just the short term
Trends in U.S. Local and Regional Food Systems: A Report to Congress
No full textThis report provides an overview of local and regional food systems across several dimensions. It details the latest economic information on local food producers, consumers, and policy, relying on findings from several national surveys and a synthesis of recent literature to assess the current size of and recent trends in local and regional food systems. Data are presented on producer characteristics, survival rates and growth, and prices. The local food literature on consumer willingness to pay, environmental impacts, food safety regulations, and local economic impacts is synthesized when nationally representative data are unavailable. Finally, this report provides an overview of Federal and selected State and regional policies designed to support local food systems and collaboration among market participants
Strategic Benefits of Low Fit Brand Extensions: When and Why?
No full textBrand extensions have the potential to both enhance liking of the brand extension and induce positive spillover effects on the parent brand. Such dual outcomes enhance the brand\u27s growth potential. We propose and empirically demonstrate that three variables endemic to any brand extension decision (brand reputation, brand extension fit, brand extension benefit innovativeness) jointly impact these positive outcomes. For strong reputation brands, these dual outcomes are maximized when the brand extension is low in fit and offers innovative benefits because low fit motivates consumers to process innovative brand extension information more deeply. For weak reputation brands, these effects are maximized when the brand extension is high in fit and offers innovative benefits because high fit strengthens consumers\u27 trust in the weak brand\u27s ability to deliver promoted benefits. The results suggest two distinct brand growth strategies for strong and weak reputation brands respectively
CHR Reports Compendium 2015
Get PDFA compendium of 2014 publications of the Faculty of the Cornell University School of Hotel Administration, including the Center for Hospitality Research and Cornell Hospitality Quarterly
The Influence of Organizational Form and Customer Type on Online Customer Satisfaction Ratings
No full text[Excerpt] While some research has examined the influence of the percentage of company-owned versus franchised units on satisfaction at the chain level (Michael 2000; O’Neill, Mattila, and Xiao 2006), we are aware of no published paper that examines the potential differences between these two organizational forms in terms of customer satisfaction ratings at the unit level. In this paper, we address this gap by focusing on understanding the relationship between the organizational form of the unit (company-owned versus franchised) and customer satisfaction in the form of online ratings, by also taking into consideration the type of customer (non-business versus business). Specifically, we explore the following research questions: Do customers perceive any differences between company-owned units and franchised units within a given chain? If so, then which organizational form performs better in terms of satisfaction ratings? Are there any differences between satisfaction ratings of non-business customers and business customers? And, does the type of customer influence the relationship between organizational form of the unit and customer satisfaction
Determinants of Hotel Property Prices
No full textPricing commercial real estate has its foundations in present value theory. Recent improvements for accessing transaction data have stimulated interest in commercial property hedonic pricing models, the structures of which follow traditions in single-family real estate in that the implicit prices of property characteristics and site-specific variables represent city and national market conditions. Adding present value variables has become increasingly common to account for general market conditions. We test two hedonic pricing models; one that follows the residential tradition and another that departs by incorporating city-specific net operating incomes and the discount rates. Modeling prices in these alternative ways allows for recognition of the relative contributions of property, city, and capital market determinants. Empirical testing relies on a sample of hotel transactions from 2005–2010. The responsiveness of hotel cash flows to market changes is an important consideration. We find that models with property characteristics perform about the same as models that also include present value variables. A plausible explanation for this phenomenon is that implicit prices corresponding to property characteristics and site-specific variables appear to reflect income streams associated with city and nationwide economic conditions