The Function of Consumer Behavior and Intelligence

TASK 2

Decision-Making Journey of Consumers.

Consumer decision-making refers to the procedure that helps customers make final decisions in regards to goods and services (Chernova and Starostin, 2020). Basically, buying behaviour is affected by different types of factors such as educational level, referral influence, consumer preferences, and so on. Thus, there are so many factors of this process in context with Grosvenor House Hotel, mentioned in beneath:

Pre-purchase: According to this initial stage, consumer behaviour makes so many decisions in relation to products through developing so many unique thoughts and ideas in order to get accurate information and behaviour of people (Zhang, Faisal, and Wang, 2020). Within the respective hotel, these assorted services are always formulated by the manager in order to give the best services to their customers, such as online booking websites and unique facilities at hotel premises as compared to the other hotels.

Purchase: With the help of this accurate information, travellers generally make their decision best as they booked online and take better services of rooms within hotels. Herein, the respective hotel always applied unique tools and technologies so that they could always keep in touch with their potential customers and be able to satisfy their overall needs and desires. 

Receive: On the basis of this stage, customer's always build their experience in a better direction towards gaining goods and services. Within the respective travel and tourism industry, the housekeeping department has the responsibility to give a better experience to their customers so that they can give a positive response to the firm effectively.

Post-purchase: It is mainly considered a last stage of the customer's journey in which customers are able to give feedback to the firm and company and avail of such facilities as those provided by the hotel. Thus, the respective travel and tourism industry needed to build good relations with its clients so that they could achieve its targeted goals and objectives.

Importance for Vendors to See Customer Decision-Making.

Marketers are always required to understand overall consumer behaviour so that they can map the path of buying and be able to conduct decision-making processes within the travel and tourism sectors. Along with this, consumers generally analyse numerous factors or figures during availing sorts of services in a luxurious way (PerÅ¡urić, 2020). Through understanding all kinds of factors and processes, firms are able to meet customer's entire needs and wants in an effective manner. In context with Grosvenor House Hotel, the research and development department is able to realise the decision-making process in order to make effective goods and services in a different mode. Along with this, decision marketing campaigns are always helpful for targeting overall consumer's from the market who can promote their travel industry in a proper way. In order to gain customer's attention and retain them, they always advertise their strategies through affiliated media, social media, and so on. That's why these types of promotion strategies are always helpful for the travel and tourism industries to increase their growth successfully. 

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TASK 3

Within the travel and tourism sector, decision-making procedures play a significant role in order to take appropriate decisions to make proper judgements for business as well as for another business in several ways. There are better ways to understand the concept of B2B & B2C; those are mentioned below: 

From the above discussion there is little bit differences between B2C&B2B in order to make decision making process. Along with being similar at the time of a judgemental decision by having a target to fulfil overall business profits and objectives. At last, both elements of firms always have deep marketing research in order to fulfil market needs and wants. 

Measure the Consequence of Market Research Utilised in the Judgement-Making Process.

Market research has the responsibility to identify overall data and conclude the best possible method through which firms are able to understand current trends of industry in order to expand their business operations in a proper way. Similarly, in the sector of the travel and tourism industry, they are always able to search for potential investors by whom people can willingly invest and help firms achieve their targeted goals. At present scenario, there are most of the organisations that already have a diverse market towards their business within the global market that can be analysed from the external market through developing marketing research in order to make proper decisions in order to expand their business. Therefore, it is necessary for each and every aspect of business in order to overcome risk chances by understanding the overall situation of a dynamic environment along with the willing participation of people in a better way. Furthermore, it elaborated on several aspects of business, such as customer's needs, business demand, and needs towards competition strategies along with price (Kanakaratne, Bray, and Robson, 2020). Therefore, marketing research is very helpful concept to bring so many important changes in order to meet customer's needs and wants. So that now it can be said that there are so many ways by which travel and tourism industry is able to compare their services from another firm to gain competitive advantages. Therefore, it is essential to maintain and manage effective brand goodwill through satisfying consumer's needs and wants along with giving more benefits to their potential customer's. 

Assorted Approaches to Market Investigation and Methods of Research for Examining the Decision-Making Process.

For surviving in the marketplace, most of the firms are needed to have different types of research and numerous methods in order to achieve several goals and objectives in an appropriate manner. With this, they can satisfy consumer's needs and wants. In context with Grosvenor House Hotel, they generally used unique marketing research in order to conduct so much research through which they could exist in the marketplace for a long period of time. There are few methods; those are given below:

Marketing research approach in B2C

According to this approach, the marketer is able to use the secondary data method or collection, which is generally taken firsthand. There is one example, which is going to be discussed below:

Personal interviews: This is based on a face-to-face interview in which the respective organisations of the travel and tourism industry always conduct a better interview process in order to select the best candidate for their firm (Abd Wahil, Ishak, and Daud, 2020). With the help of this, they can achieve their targeted goals and objectives in an appropriate manner.

Therefore, this type of approach is considered the most important research method for firms in order to define several needs and wants of the travel and tourism sectors. Along with that, they are able to build strong relationships with customers.

Marketing research approach in B2B

On the basis of business-to-business, firms are using this as a secondary resource in which data has already been available, which is generally based on a short period of time. Along with the benefit of this approach is that it is not much costly and do not take more time. For example:

Public records: On the basis of the respective organisation, with the help of this, they can take better decisions in order to achieve their desired goals and achieve the target market in an effective manner.

TASK 4

Various Stages of Decision-Making Within the Tourism Industry With the Help of Examples.

Marketers are always considered an essential part of an organisation, which makes the process of decision-making easy in order to develop effective goods and services and sell them into the marketplace. In reference to the travel and tourism sector, marketer's have a key role within such a firm by which they can determine the overall preferences and tastes of customers along with give different solutions to them to overcome negative issues from the industry. Therefore, organisations are using several kinds of strategies or tools in order to make their service better by focussing on consumer's demands and needs. With the help of this, they can satisfy their customers in a perfect way. There are few stages in reference to travel and tourism; those are going to be discussed below: 

• Alternatives: It is the most essential stage, which helps firms to analyse several kinds of alternatives in the marketplace towards products to attract a large number of buyers. 
• Purchase decision: Marketers are easily able to influence the buying decision of a hotel, in which people are able to get so many facilities while making purchasing decisions. 
• Need recognition: During the increment of overall demand of consumers within the travel and tourism sector, it can be possible for them to take feedback from different types of travellers and clients so that if there is any requirement that can be fulfilled by the firm through bringing such unique strategies that will help them to satisfy consumer's needs and wants (Nguyen, Brennan, and Lockrey, 2020).
• Post-purchase evaluation: These sorts of aspects are generally accomplished through taking feedback from customers so that marketers can make better use of their changing scenarios and strategies in order to influence future decisions of firms.
• Search for information: By having so many websites of hotels, they are able to provide different types of goods and services, along with putting an affordable price on their services (Sherwin and Parkhurst, 2020). Therefore, it is helpful for firms to make effective decisions in a successful manner. 

From the above-specified stages, it can be said that the decision-making process is very helpful within the travel and tourism sector for providing effective goods and services for satisfying customer's needs and wants. 

CONCLUSION

According to the above respective report, it can be said that consumer behaviour and insight is one of the most considerable parts of the marketplace, in which marketers always notice the overall activity of customers in a perfect way. In order to maintain good relations with customers, they always develop unique ways to reach customer's desires in a perfect manner. Therefore, the travel and tourism industry is able to fulfil customer's needs and wants through using advanced technology in order to bring so many changes within an organisation. It will help them a lot to achieve success effectively. In addition to this, the decision-making process is one of the best ways to understand consumers in a proper manner with the help of their needs and wants. Along with this type of industry, it has a good impact on people to achieve successful growth.

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