Customer Retention in Hotels and Word-of-Mouth in Fast-Food Industry (Essay Sample)

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Assignment
Customer Retention in Hotels
Within the present competitive business environment, hotels have to identify profitable customers, expand relationships, and precipitate long-term loyalty. For most customers, appropriate hotel service relates predominantly to price and service quality, even while hinging on product quality, brand, and prestige. Premising on service quality as a key decider of customer retention, hoteliers should periodically review customer needs and training programs for employees. Moreover, when seeking to address the factor of product quality, firms in the hotel industry often seek to increase the perceived value, calculated as a comparative element of economic facets about the services and the costs. To that end, customers make decisions based on service quality, perceived value, and price expectations. Such factors form the fulcrum upon which auxiliary elements including brand and prestige emerge, thereby influencing customer retention and profitability. 
Possible View by a Market Research Supplier
Market research services entail gathering and analyzing information regarding a business problem and offering cogent reports. Therefore, a research supplier, when examining customer retention in the hotel industry should incorporate the quantitative method, which allows for quantifiable expressions. Even then, the researcher must hypothesize regarding expected results and could speculate that several factors influence customer retention. After conducting a quantitative study, Khan (2013) discovered that: 
From the results, we may