Faculty & Research
Unlocking the Secrets of Customers' Choices
Vol 7 No 2
By: Rohit Verma Ph.D.
Executive Summary: Analysis based on field studies demonstrates the benefits of customer choice modeling (CCM) for the purpose of designing and evaluating product and service bundles for food-service and lodging businesses.
Just as important, CCM allows managers to determine how customers react to those features. CCM depicts a dynamic comparison of various service attributes, and it shows managers how different market segments react to a particular bundle of services. Given that information, managers can fine tune their operation, if needed.
Moreover, if the analysis shows that a particular market segment prizes a specific product or service attribute, the business can feature that attribute in advertising targeted at that segment. A spreadsheet template is available in conjunction with this report that will allow readers to manipulate CCM data so that they can see how the comparison operates.
Food Service WTP and Desirability Simulator
Download Food Service WTP and Desirability Simulator
Hotel WTP and Desirability Simulator
Download Hotel WTP and Desirability Simulator
Your Comments Please
If this CHR Report made a positive impact on your management approach or business operations, we welcome your commentary. We would like to post your comments on our website. Please submit your comments to js372@sha.cornell.edu and rohit.verma@cornell.edu.
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- Unlocking the Secrets of Customers' Choices By: Rohit Verma Ph.D.
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Other Reports or Articles You May Find of Interest
- An Examination of Guest Complaints and Complaint Communication Channels: The Medium Does Matter!, by Alex M. Susskind
- A Picture Is Worth a Thousand Words: Using Photo-Elicitation to Solicit Hotel Guest Feedback, by Madeleine Pullman and Stephani Robson
- Best-available-rate Pricing at Hotels: A Study of Customer Perceptions and Reactions, by Kristin V. Rohlfs and Sheryl E. Kimes
About Rohit Verma Ph.D.
Rohit Verma is an associate professor of service operations management at the School of Hotel Administration, and also serves as the Executive Director for the Center for Hospitality Research. Prior to his current appointment, he was the George Eccles Professor of Management, David Eccles School of Business at the University of Utah. He has also taught MBA and executive development classes at DePaul University, Chicago, IL, University of Sydney, Australia, Norwegian School of Logistics, Norway, Helsinki School of Economics, Finland, and Indian School of Business, India. His research interests include new product/service design, quality management and process improvement, supplier selection strategies, and operations/marketing interrelated issues. He has published over 40 articles in prestigious business journals such as California Management Review, the Cornell Hospitality Quarterly, Decision Sciences, Journal of Operations Management, Journal of Product Innovation Management, Journal of Service Research, MIT Sloan Management Review, Production and Operations Management, and other journals. His research has been sponsored by the Hospitality Sales Association International (HSMAI), United States Forest Service, Marketing Science Institute, and various corporations such as CSFB, First Chicago, NCR Knowledge Lab, General Growth Properties, Siemens, Mead Johnson, Kimberley Clarks, Hammerson and others. Verma has received several teaching and research awards including the "Skinner Award For Early Career Research Accomplishments" from the Production and Operations Management Society; "Spirit of Inquiry Award" the highest honor for scholarly activities within DePaul University; “Teaching Innovation Award” DePaul University; and “Doctoral faculty Teaching Award” University of Utah. He serves as the associate editor of Journal of Operations Management, and Decision Sciences; senior editor of Production and Operations Management; and editorial board member of Journal of Service Research, and the Cornell Hospitality Quarterly. He also served as guest editor for four issues of the Journal of Operations Management on topics related to effective management of service businesses.
For more information visit http://www.hotelschool.cornell.edu/research/facultybios/faculty.html?id=179
