Customer Retention In The Hospitality Industry: A Business Research Study

Impact of Customer Retention in the Hospitality Industry

I did a very extensive business research on customer retention in the hospitality industry. During my investigation and study, I came up with a research proposal that I wrote clearly and concisely. I also drafted a report on the same topic after doing an extensive, in-depth and comprehensive study. In my opinion, business research education is becoming increasingly popular in the world today.

Most company managers value and appreciate employees who are highly skilled and have a keen eye for business research as it helps their companies grow and develop rapidly. Customer retention in the hospitality industry is a major issue as customer loyalty helps a great deal in improving a hotel’s ratings and even increasing its profits largely.

I have found the learning experience to be a huge eye-opener, and it has greatly added to my training. I am now well informed when it comes to customer retention in the hospitality industry. As a student, I believe that having knowledge of how to manipulate the recent progress in the hospitality industry and stay at the cutting edge of it is a logically crucial part of any approach. With this knowledge, I can be able to help in influencing customer loyalty at any given firm largely.

Entry 2

My previous study on customer loyalties has given me wonderful insights on my future. I learned that the key to retaining customers in hotels and firm is ensuring that they are completely satisfied with the hotels’ services. This means that industries have to offer services of very high quality. If a customer is satisfied, they will keep coming back and referring other clients to the same place; this will largely contribute to the growth of the industry. I can apply the knowledge acquired in my coursework by increasing the quality of my coursework and research.

This way I can be able to learn and acquire more knowledge during my study. By doing better quality coursework, I increase my chances of passing and graduating with good honors in my program. As I move forward to the job market and start to make a career for myself, giving my employers high-quality work is going to be very helpful in helping me rise further and further to the top of the food chain. This will aid me in climbing to the pinnacle of my career. If I can please my employers to and rise to the management level in the corporate world,

I will be able to offer clients even much better services. I will apply this knowledge in researching and identifying better ways to ensure the satisfaction of customers in my specific industry. In life, I will be able to understand people’s needs and work better with them to achieve a certain goal as the key to customer satisfaction is understanding their wants.  Applying this knowledge in life will help me better my relationships with everyone I associate with. It will also help me in achieving the goals that I have set for myself.

Significance of Customer Satisfaction

Entry 3

During my learning process, I read about the origins, effects, repercussions and interrelationships between the several aspects of consumer retention. These explicitly are, loyalty, contentment, and apparent value, the eminence of service and management of retention in general as well as in the milieu of the hotel industry. I was able to see the importance of handling customer retention through designing loyalty programs to achieve and ensure success and growth to a particular hotel brand in the market competition. As I undertook the study,

I also picked up the fact that customer retention is not necessarily based on the level of quality of the services offered. I heard that whereas the level of quality greatly matters, it is really how much a client is satisfied otherwise termed as the degree of satisfaction of a customer that matters. I could see that engaging a client, delivering the services accordingly and enhancing the production services came in handy in influencing customer retention. I read about the benefits of customer retention, factors influencing customer retention and how to manage customer retention in the hospitality industry effectively. I also read about research design and methodologies used in research.

Entry 4

I found business research essentially very useful when it came to my learning process. I think that business research was very useful in building my knowledge on the study I took and it made my learning process even more efficient. I found it helpful in aiding my success in business in the future and even in my job search after school as I can be able to work on major things like product innovation in the competitive market today. Through that, I was able to understand various issues in the hospitality industry. I was able to shed light on issues I wasn’t even aware existed and raised even more important questions. The business research was also useful in helping me ascertain lies and support accuracies as I delved deeper into the topic. I also found it useful in reading, writing, scrutinizing, exploring and sharing the valuable information that I had acquired.

Entry 5

I took part in the previous assignments for various reasons. For my first assignment: customer retention in the hospitality industry, I did it so I could be able to understand the various paradigms of customer retention. The topic of research was very wide; I did it to understand the cause and effect relationship of customer retention in the hospitality industry. In doing my research, I was able to fully comprehend what it took to success in the hospitality business. My previous study thus prompted me to move to my next assignment which was a research proposal for evaluating customer retention management. I did this assignment to evaluate the strategies and initiatives that have been introduced by various industries to influence customer loyalty such as; loyalty programs and marketing of customer relationship. By evaluating the methods used, I could be able to come up with more effective methods in the future to help the cause.

Entry 6

I will be able to apply this learning in my future in various ways.  I believe that my great exposure to the business research world will help me a lot in exploring my career field in the future. I will be able to apply this knowledge in making more informed decisions in pursuing my line of business in the forthcoming through in-depth study and research. When it comes to my perspective profession, I will apply the knowledge gained from business research by designing and innovations of better products.

I will be able to identify the needs of the clients in the workplace and work towards providing them better services. I will apply this knowledge in my work relationships with my colleagues, through collaborative exploratory research we will be able to discover more loopholes and be able to fix what we can within the company. With the fierce market competition in the world today, this will be very helpful and greatly welcomed.

I will be able to apply this knowledge in assessing situations more carefully and gathering facts about them, and I will be able to deal with situations more effectively. I will also apply the acquired knowledge in tackling issues and policy making in the industry I will be a part of. I will apply it in identifying my goals, objectives, values and working towards significant ways of achieving them, predicting the consequences of my goals and formulating better initiatives and strategies of addressing my objectives.

References

Cisero, C., 2006. Does reflective journal writing improve course performance?. College Teaching, 2(52), pp. 231-236.

Dominici, G. &. G. R., 2010. Customer satisfaction in the hotel industry: a case study from Sicily.

Flecknoe, M., 2009. Writing a Reflective Journal.

Goetsch, D. &. D. S., 2014. Quality management for organizational research, Upper Saddle River, NJ: Pearson.

Johns, C., 2017. Becoming a reflective practitioner, s.l.: John Wiley & Sons.

Mai, J., 2016. Looking for information; A survey of research information seeking, needs and behavior, s.l.: Emerald Group Publishing.

Neuman, W., 2016. Understanding Research, s.l.: Pearson.

Torres, E. &. K. S., 2013. From customer satisfaction to customer delight: Creating a new standard of service for the hotel industry. International Journal of Hospitality Management, 25(5), pp. 642-659.

Wolgemuth.J.R., E.-M. Z. O. T. C. J. T. D. E. &. C. S., 2015. Participants experience of the qualitative interview; Considering the importance of research paradigms. Qualitative Research, 15(3), pp. 351-372.

Yoo, M. L. S. B. B., 2011. Hospitality marketing research from 2000-2009; Topics, methods, and trends. International Journal of Contemporary Hospitality Management, 23(4), pp. 517-532.