VALUE CREATION AS A FACTOR OF ATTRACTING AND RETAINING CUSTOMERS IN THE HOTEL INDUSTRY
Abstract
The aim of this paper is to highlight the importance of the value in hotel services in order to attract and retain customers. Value is subjective and determined by the consumer. In the literature the value is defined as the ratio of benefits and costs that the consumer has in process of purchase and consumption of goods and services. The benefits from buying and using a product or service are related to its design, quality, reputation, image. On the other hand, costs are related to the amount payable for the purchase of products/services, and physical and psychological effort and time to obtain them. Creating and delivering value in the hotel industry is an instrument for attracting and retaining customers in order to build their long-term loyalty.
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References
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2. Buttle, F. (2009). Customer Relationship Management: Concepts and Technologies, Butterworth-Heinemann, Oxford, UK.
3. Đorđević, A., Zečević, B. (2015). Kreiranje vrednosti u turizmu, CID, Ekonomski fakultet, Beograd.
4. Gummesson, E. (2008). Total Relationship Marketing, Elsevier, Amsterdam.
5. Johnson, W., Weinstein, A. (2004). Superior Customer Value In The New Economy, CRC Press LLC, New York.
6. Kotler, P., Keller, K.L., Brady, M., Goodman, M., Hansen, T. (2009). Marketing Management, Pearson Education Limited, Edinburgh Gate, Harlow, England.
7. Mandarić, М., (2016). Strategijski brend menadžment, Fakultet za hotelijerstvo i turizam u Vrnjačkoj Banji, Univerzitet u Kragujevcu.
8. Mandarić, M., Milovanović, V. (2016). The Role of CRS in the development of sustainable tourism in Serbia. First International Scientific Conference: „Tourism in Function of Development of the Republic of Serbia: Spa Tourism in Serbia and Experiences of Other Countres“, Vrnjačka Banja, 412-429.
9. Mandarić, M., Milovanović, V., Sekulić, D. (2013). Contibution of Brand Orientation to Business Performances of Serbian Companies, Metalurgia International, Vol. 18, No. 4, 72-77.
10. Mandarić, M., Petković, G. (2015): Kreiranje dugoročne vrednosti brenda, Stvaranje vrednosti: teorijsko-praktični aspekti, Univerzitet u Beogradu, Ekonomski fakultet, CID, Beograd.
11. Maričić, B., Đorđević, A. (2012). Kreiranje i isporučivanje vrednosti potrošačima, CID, Ekonomski fakultet, Beograd.
12. Marinković, V. (2012). Marketinški aspekti satisfakcije i lojalnosti: Orijentacija na potrošače u savremenom bankarskom poslovanju, Ekonomski fakultet, Kragujevcu.
13. Osman, H., Hemmington, N, Bowie, D. (2009). A transactional approach to customer loyalty in the hotel industry, International Journal of Contemporary Hospitality Management, Vol. 21, No. 2, 239-250.
14. Passavant, P. (1995). Retention marketing needs a new vision, Journal of Direct Marketing, Vol. 4, No. 2, 1-4.
15. Peppers, D., Rogers, M. (2005). Customers don’t grow on trees, Fast Company, pp. 25–26.
16. Sekulić, D. (2016). Kvalitet u funkciji obezbeđivanja satisfakcije korisnika hotelijerskih usluga, doktorska disertacija, Ekonomski fakultet, Kragujevac.
17.Sekulić, D., Mandarić, M. (2014). Models for Measuring Services Quality and Customer Satisfaction in Hotel Industry, Actual Problems of Economics, Vol. 8, No. 158, 480-487.
18. Solomon, M. (2015). Heroic Customer Service: When Ritz-Carlton Saved Thomas The Tank Engine, Forbes, http://www.forbes.com/sites/
micahsolomon/2015/01/15/the-amazing-true-story-of-the-hotel-that-saved-thomas-the-tank-engine/ (15 April 2017)
19. Stutts, A., Wortman, J. (2006). Hotel and Lodging Management, John Wiley & Sons, New Jersey.
20. Weinstein, A. (2012). Superior Customer Value: Srategies for Winning and Retainig Customers, CRC Press LLC, New York.
Published
2017-06-03
How to Cite
Sekulić, D., & Mandarić, M. (2017). VALUE CREATION AS A FACTOR OF ATTRACTING AND RETAINING CUSTOMERS IN THE HOTEL INDUSTRY. Tourism International Scientific Conference Vrnjačka Banja - TISC, 2(1), 49-58. Retrieved from http://tisc.rs/proceedings/index.php/hitmc/article/view/132
