High Expenditure Customer Satisfaction and Customer Loyalty

Question: Describe about the High Expenditure Customer Satisfaction and Customer Loyalty. Answer: The research intended to investigate all the factors that have a considerable impact on consumer satisfaction as well as loyalty of the travellers of high expenditure. Based on the advancement of the travelling agencies within Hong Kong, the marketers of the travelling agencies within the area turned out to be increasingly interested in revealing the factors that motivates the consumers in selecting the travel agents within Honk Kong and stay satisfied and loyal to them. The researcher also considered to investigate the relationship between the perceived value, business image, positive or negative word of mouth, satisfaction and loyalty of the consumers within several sectors. The research considered investigation of selected travel agencies within the Hong Kong region that greatly targeted the high expenditure consumer groups and revealed the value of relationship between the aforementioned factors. The researcher has followed the philosophy of positivism and deductive research approach to relate the constructed literature with the relevant findings. In addition, the researcher has followed the random sampling technique while selecting the respondents in order to avoid bias in selection procedure. For this particular research, the researcher has used SPSS software in order to convert the responses obtained into meaningful groans, tables and charts. In order to conduct the research, the researcher has gathered relevant data by using the quantitative survey method. The researcher has distributed questionnaires to 400 respondents in Hong Kong, out of which 285 respondents have expressed their interest to participate in the survey process. In addition, the researcher has followed the mixed method of research for evaluating the qualitative and quantitative data. Such information will be mentioned in account to the satisfaction of consumers and advancement of all the Hong Kong travel agencies. Descriptive statistics data analysis technique was employed in this exploration based on which the patterns that resulted out from the gathered information were explained in a better manner. Moreover, in order to generate highly accurate research results, correlation analysis was employed as a statistical technique that will facilitate the in-depth study of the association among two or more research variables. The researcher has employed both p rimary and secondary data to evaluate the consumer loyalty and consumer satisfaction associated with the Hong Kong travel agent. In this research, the gathered information was from the survey questionnaire with overall 30 questions and was divided into six segments and along with that, 285 questionnaires were gathered that collected reviews of the respondents on the aspects of consumer satisfaction and loyalty of customers of the high expectation customers within the travel agent of Hong Kong. From the questionnaire analysis, it was gathered that most of the survey participants were males ad most of them belonged to the age group of 31 to 50 years. The questionnaire survey revealed that most of the respondents were among the members of the loyalty program. Standard deviation results were gathered based on five aforementioned variables those were found to be lesser than 1. This indicated that the total points of information were closer to those in terms of means with decreased variations that can make sure of increased reliability. From the results of the research, it has been evaluated that most of the surveyed respondents travel for a period of 4-6 days and hence, the travel agents need to design the tour packages by keeping this point in mind. In addition, from the survey results, it is found that most of the tourists prefer to visit South-East Asia and China for spending their leisure time. The research investigated the constructive relationship among the satisfaction of consumers and loyalty of the Hong Kong customers. The research results indicated that there is a considerable relationship among the significant relationship between the satisfaction of Hong Kong consumers and maintain moderate relationship between both the variables. This has been upported with the help of correlation and regression outcomes. The histogram regression model evaluation in this research indicated that there is a constructible relationship among the satisfaction of consumers and perceived value. Moreover, scatter plot generated from the histogram demonstrated that the residual distribution comes devoid of any patterns and random meaning that certain errors remain independent and does not stay correlated with other factors. The histogram model analysis indicated that any consumer who places increased rating in the perceived value generally intends to pace a greater rating on the subject of satisfaction of consumer than the ones that place a lower rating on perceived value. Additionally, regression model analysis generated constructive findings taking into account the business image and satisfaction of consumers dependent variables. The results indicate positive relationship between both the variables. The results from the study reveal positive along with strong linear relationship between the business image and satisfaction of Hong Kong customers. The histogram model revealed that it is anticipated consumers intends to offer more ratings on the word-of-mouth than the ones those further places a decreased ratings on word of mouth. The histogram regression mode generated findings that the consumers placing increased ratings on the satisfaction of the consumers intend to place a superior rating on the loyalty of consumers. From the regression and correlation results, it has been found that customer loyalty is largely dependent on customer satisfaction, word of mouth, corporate image and perceived value. It can also be concluded that satisfaction serves as the most vital indicator that helps in measuring the repeat experiencing of the travel agencies services. From the findings of the research it can be ensued that the consumers remain highly satisfied with all the points of interaction that further results in increased loyalty of all the consumers towards the services of the travel agencies. Through efficient measuring of the real level of consumer satisfaction, the consumer service quality can be increased. Recommendations: The results also recommended that the probability for the consumers to offer positive advices concerning all the traditional or offline travel agencies in Hong Kong is considerably higher when the real quality of the service offered by the agencies enhances any specific aspects of the quality. This can be related to either with the tangibles, reliability, responsiveness, assurance or empathy. In addition to that there are numerous options related to service quality terms that can be focused on having a considerably higher personal impact on the Hong Kong consumers making effective recommendations such as the ones concerning traditional or offline travel agencies remains noticeably higher at the time the quality of services related with either the intangible or tangibles enhances. The intangibles consider having considerably increased total larger impact in contrast to the tangibles. The following recommendations could be extremely beneficial to the Hong Kong travel agents for increas ing the loyalty of the tourists: Offer of a well-managed trip: It is of vital importance for a travel agent to make planning for a well-managed trip through evaluating the needs of the customers thoroughly. The evaluation needs to include the expected services, customer budget, hotel selection and tastes and preferences relating to food and beverage. Along with this, the income level of the customers also needs to be taken into consideration before generation of such trip. As per the evaluation of responses obtained, the customers, mostly executives prefer to visit abroad for spending leisure time having high monthly income of above $40,000. Therefore, the Hong Kong travel agents need to provide quality services by increasing the prices for tourism packages. The lodging facilities need to be of high quality, as most of the respondents would prefer to stay in hotels with diversified range of services. For instance, if the customer is a vegetarian, the travel agent in Hong Kong needs to provide the necessary details of the food options available i n the hotels at the time of trip planning. Every aspect needs to be provided with the highest priority to ensure that they are in line with the expectations of the customers. It has been observed that most of the middle-aged customers in Hong Kong travel abroad for spending vacations. For example, if a family is looking for a trip, the travel agent in Hong Kong could offer a package comprising of diverse activities like shopping malls, playgrounds for children and scenic beauty of the nature. Therefore, it is recommended to the travel agents in Hong Kong to place themselves in the shoes of the customers. This would help the agents to identify the exact needs of the customers. Based on this, the travel agents could design the trip, which would help the customers in Hong Long to relax in leisure time. Reduction in time and greater convenience: The main reason for the customers preference to visit a travel agent is to save time or seek help for selecting the best locations, in case, the destination is visiting abroad. Under such circumstances, the customers aim to search for the finest alternative within short span of time and seek advice from the travel agents due to lack of knowledge on selecting the destination trip. This is the area, in which the Hong Kong travel agents could increase the level of customer loyalty by providing finest alternatives within minimum time. Convenience of the customers could be increased by assessing the expectations and preferences of the customers before making trip planning. It is noteworthy that the travel plans could change from time to time due to unanticipated modifications. Therefore, Hong Kong travel agency needs to deliver timely information to the customers regarding any modifications made in the travel plans. This could be accomplished through real-time communication with the customers to notify the occurrence of any unanticipated event. In case, any complexity is encountered, the Hong Kong travel agents need to provide the customers with the other available alternatives that could fulfil their desires. Increasing the time value of money for the customers: It has been observed that the customers often tend to look for potential deals and discounts. Since, the sources of information have increased over time along with the number of travel service providers, the customers often tend to bargain with the travel agents to avail quality services at cheaper prices. This is because when the customers are planning for an abroad trip, they consider the service quality coupled with the pricing structure. Hence, the Hong Kong travel agents need to design a number of holiday packages, which would add higher value to the experiences of the customers. Since, most of the surveyed respondents of Hong Kong prefer to visit China for spending leisure, the Hong Kong travel agents need to design a cost saving approach that would cut down the expenses of the customers. This is because the customers do not will to pay higher than the needed amount. Offering personalised communication: The Hong Kong travel agents need to provide continual support to the customers, whenever any query is raised on the part of the former. The travel agents could apply this method of communication through telephone, web chat or e-mail services. Therefore, it is necessary for the Hong Kong travel agents to determine the actual requirements of the customers and the way they need to hear it before and during purchase of the holiday package. In order to implement the plan, the travel agents in Hong Kong need to train their staffs by incorporating induction programs, which would result in immediate solution of the queries of the customers. Since, most of the customers are interested in visiting China; therefore, the travel agents need to gather all relevant details of the hotels in the nation and queries associated with other services. Thus, delivering effective personalised communication would help in developing loyal customers for the travel agents of Hong Kong. Greater focus on the intangibles: The research also revealed certain practical recommendations for the travel agency marketers in Hong Kong region to develop superior marketing strategies those are meant for addressing the loyalty and the consumer satisfaction needs for the Hong Kong customers. For this reasons, the findings of the research also presented recommendations that indicates any type of travel agency can enhance their quality of services to gain increased benefit in the extended term or for gaining positive word of mouth. Such recommendation is offered as the consumers who perceive that the quality of services offered by the travel agencies in Hong Kong might express higher tendency to offer recommendations to others that further help the travel agencies to gain increased future revenues for its business. In order to attempt to sustain and generate consumer loyalty over the extended period as a major premise for sustainable advantage of any travel and tourism business, the travelling agencies must focus on advancing the intangibles rather than increased investment in the tangible aspects of their business offerings. Limitations: There are several limitations for this research. First, of all the original target for this research was less participants, the data controlling process and the process of conducting the surveys with all the interview participants was considered to be highly time-consuming than the anticipated level. Moreover, it was also observed that the company might prove to be highly advantageous for the consumers are found to highly satisfy with the research when approached by the survey staff. However, holding this demanding position was not able to offer considerable amount of time to carry out research in account to season ability variations in the business. Selecting the survey participants, those were suitable for the interview process turned out to be highly time-consuming process. Despite of formulating many advantageous findings from the exploration, this research is considered to have numerous other study limitations that need to be dealt with in the upcoming exploration. Initially, th e research limitations is considered to be substantial survey questionnaires were produced that resulted in making respondents hold a large time in responding to them. Numerous respondents those were observed to be impatient while filling up the questionnaires in a rushed manner rather than expressing their original feelings about the questionnaire. This issue might have resulted in affecting the accuracy rate of the responded questionnaire. In addition to this, the sampling group that was formed for this exploration was not that sufficient that leads to certain errors in the accuracy rate of the survey respondents. Moreover, the size of sample considered or this study might not accurately demonstrate the overall survey population because of the availability of adequate financial resources and sufficient time limit. Despite such limitations, the findings gathered from this exploration are deemed constructive. Considering the limitation of the study, future research must be beneficial and practical bridging all the imitations of prior investigations. Future Scope of the Research: The hierarchy introduced within this dissertation offers a natural guide to the upcoming research. More specifically, a fresh domain for preference aggression those are expressive will be considered for the study in the future research, after which the research carried out on this exploration subject will gradually shift within the deeper levels. At the time, the hierarchy proposed within this research work offers a high-level guideline within the future research. The research contributions at the specific nodes within the hierarchy of thee research subject advices more precise open directions as well as questions. The remainder of this research work will considerably lay out few promptly accessible revenues in the area of future research. Considering the research limitations the future research can solely focus on employing the secondary information in carrying out the research process. Future research on the study of factors affecting of the high expenditure customer satisfaction and customer loyalty in a Hong Kong travel agent can be done by taking into account whether the travel agencies within Hong Kong can implement certain strategies for additional increase in the satisfaction and loyalty of the consumers along with ensuring increased sale of their offerings. Future research can also consider investigating several new areas of study in addition to consideration the manner of sales promotions for detailed evaluation. In the future research, the researchers must make significant amount of attempts in conducting highly ethical research. Carrying out of the exploration on the selected subject needs to be in a truthful manner along with gathering data for research usage. Primary along with secondary information must be gathered in the future research in conducting quality research and generating highly reliable research findings. Future research on this subject might not be that effective if the researchers do not abide by using ethical exploration techniques in obtaining the research findings. To ensure superior quality and effective research findings, the future research might take into consideration the high expenditure consumers those mainly go for selecting the budgeted travel plans. The future research might consider it highly vital to realize the satisfaction of the consumers those assess limited amount of budget type of travel plans. In the future research, researchers must employ innovative techniques of great number of consumers for the business organization. In the future research, the researchers will take more than one travel agency along with carrying out research work for exploring the satisfaction of consumer factor. For this reason, it is extremely vital to gather several perspectives from the customers those attains packages from several travel agencies for gaining superior idea of the conce pt of satisfaction of consumer along with the travel agencies within the Hong Kong agencies. In the future research, the research is offered advice-trading taking extra care of the environment along with the interview place. Researcher is advanced to make considerable arrangements in order to carry out continuous medical supervision at the place of interview for any type of medical support. Researchers must make significant arrangements for carrying out regular medical supervision at the venue of interview and must take prior concept of the survey participants in order to gather whether they show good interest in partaking within the exploration work. This will address the limitations discovered in this investigation and this will help in gathering reliable answers from the target survey participants. Moreover, the survey conducted in the future research must allow the survey participants to choose to leave the survey at any duration of the project completion if they do not feel comfortable worth the process of interview.