Summaries of Academic Articles on Research in Hospitality (Feiertag Collection)
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Here you will find concise summaries of peer-reviewed journal articles targeted to industry practitioners. These summaries provide a quick resource for busy hospitality industry managers and executives so that they can learn the latest academic research in a timely manner.
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Browsing Summaries of Academic Articles on Research in Hospitality (Feiertag Collection) by Subject "advertising"
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- An analysis on the concentration–advertising relationship in the hospitality industry [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-06)This paper empirically investigates the non-linear relationship between advertising and concentration in the hotel industry. Using data collected from the Taiwanese hotel industry, this paper finds that (1) the influence of concentration on advertising intensity is inverted U-shaped in the room service market and (2) concentration in the food and beverage markets has no significant effect on advertising intensity
- Interaction between Finance, Tourism and Advertising: Evidence from Turkey [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-12)The purpose - It is important to emphasize that a research on relationship between tourism, finance and advertisement is very rare. The aim of this study is investigation of causal relationship between these variables. Design - In this paper, the relationship between tourism revenues and variables like tourism index of Istanbul Stock Market (BIST) & tourism advertising durations which have not been used previously in the literature was investigated for Turkey. Methodology - To attain more useful and accurate findings, bootstrap granger causality test of Hacker Hatemi-J (2010) was used which can determine critical values by bootstrap simulation method in order to reduce the possibility of potential non-normal dispersion of errors. Approach - In purpose of contribution to literature, monthly data in the period spanning from Aug 2004 till Dec 2012 and bootstrap causality method were used, thus new findings were tried to be found Findings - While traditional Toda-Yamamoto (1996) causality test has been determined no causality between these three variables, there was observed one-way causality from tourism index to tourism advertisements by the aid of more advanced Hacker Hatemi-J (2010) causality test. As a result of study, one-way causality from tourism indices, which is an important indicator representing all positive and negative performances of businesses in tourism sector, to advertising durations was detected. The originality of this research - In this study, unlike others, variables like tourism index which represents businesses in tourism sector and tourism advertising durations were used. The relationship between tourism index, tourism advertisings and tourism revenue was examined with Hacker Hatemi-J (2010) bootstrap causality test which obtains critical values by bootstrap monte-carlo simulation. By this new test, more reliable and advanced results have been obtained. As a result, tourism index which can be considered as a fundamental performance scale of tourism sector has a vital effect on tourism advertisement.
- Investigating the impact of advertising during economic shocks on firm performance in the hospitality industry [Summary]Kim, Taewoo; Choi, Hyunsuk; Song, Chanho; Lee, Myong Jae (Virginia Tech, 2019-02-19)This study examines the impact of advertising to determine whether advertising expenditure after economic shocks is associated with hospitality firm performance. Using the ordinary least squares (OLS) regression models for the earnings response coefficient study, we found that firm performance was positively related to hospitality firms that spent more on advertising immediately after a global financial crisis.
- Multi-Click Attribution in Sponsored Search Advertising: An Empirical Study in Hospitality Industry [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-06)Sponsored search advertising has become a dominant form of advertising for many firms in the hospitality vertical, with Priceline and Expedia each spending in excess of US$2 billion in online advertising in 2015. Given the competition in online advertising, it has become essential for advertisers to know how effectively to allocate financial resources to keywords. Central to budget allocation for keywords is an attribution of revenue (from converted ads) to the keywords generating consumer interest. Conventional wisdom suggests several ways to attribute revenues in the sponsored search advertising domain (e.g., last-click, first & last-click, or evenly distributed approach). We develop a multi-click attribution methodology using a unique multi-advertiser data set, which includes full advertiser and consumer-level click and purchase information. We add to the literature by developing a two-stage multi-click attribution methodology with a specific focus on sponsored search advertising in the hospitality industry with which we develop a parametric approach to calculate the value function from each stage of the estimation process. Given our multi-advertiser data set, we are able to illustrate the inefficiency of single-click attribution approaches, which undervalue assist clicks while overvaluing converted clicks.
- Social Media Advertising Trends in Tourism [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-06)Advertising in our days is moving to the social media since consumers are spending more and more time on such platforms that offer very customized information for each user. Facebook, for example, is trying to bring each person the most meaningful content, which means the advertising is ultra-customized based on the user activity and preferences, but this kind of personalisation can easily have an unpleasant side effect. The advertising for touristic destinations can become very complex by using fine-tuned campaigns triggered by user consumption patterns revealed in the digital world. By adding a button like “buy now”, the social media apps can easily integrate important ecommerce features, so the advertising of today is not only about presenting the content but also about instantly buying products and services. This paper highlights the way in which advertising messages emerging social media can quickly have a greatly improved success rate. Research methodology took as its starting point the findings of scientific studies published in the literature, the obtained results being interpreted from the perspective of the authors' personal considerations on the topic of the paper. The conclusions highlight the main trends related to increasing the success rate of advertisements in tourism by using social media and by choosing the most appropriate platforms, advertising methods and buying tools such as augmented and/or virtual reality that allow to experiment in advance a travel package, placing of advertising messages on the platforms with the greatest impact and including the direct purchase options inside the add, so that viewing the message can be immediately followed by the acquisition of the promoted services.
- The strategic value of advertising expenditures in the tourism and hospitality industry [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-06)The purpose of this study is to investigate the strategic value of advertising expenditures in the tourism and hospitality industry. Adopting a market-based valuation approach and longitudinal analysis, this study assesses the magnitude of advertising value by comparing the magnitude of the value with those from other expenses and book value. Results show that the economic benefits from advertising expenditures, unlike other expenses, don’t expire in the current period. Furthermore, advertising expenditures are significant strategic investments in intangible assets, providing greater future economic benefits than other assets. In addition, there is no significant heterogeneity regarding the effectiveness of advertising expenditures across subsectors in the tourism and hospitality industry.
- Trapped as a Good Worker: The Influence of Coercive Acquaintance Advertising on Work Outcomes [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-12)This article examines the organization phenomenon of coercive acquaintance advertising, which is born of social media context and emerging in tourism and hospitality industry. Empirical results analyzing the multisource and time-lagged data collected from 358 travel agency employees provide general support for our hypotheses. Specifically, this article finds that the practice of coercive acquaintance advertising leads employees to suffer from inter role conflict arising from being a worker and “friend” simultaneously on their personal social media networks, which in turn can affect their job performance, job satisfaction, and turnover intention. In addition, such mediation process can be strengthened by the high-level of employee’s feedback sensitivity such that there is the moderated mediation mechanism in the relationships between coercive acquaintance advertising and employee work outcomes. The findings have theoretical and practical implications for researchers and practitioners.
- Using comparative advertising to promote technology-based hospitality services [Summary]Honerkamp, Vincent (Virginia Tech, 2020-03-06)This research draws on regulatory focus theory to explore how to effectively advertise technology-based hospitality services. In an experiment, we compare four types of service ads: narrative-comparative, narrative-noncomparative, list-comparative, and list-noncomparative. Results reveal that narrative-comparative ads, portraying a superior service experience with the advertised brand against its competitors, can elicit gain perceptions, and therefore, they are more effective among promotion-focused individuals than their more prevention-focused counterparts. Conversely, list comparative ads, presenting attributes of the advertised brand and its competitors side-by-side, can induce either gain or loss perceptions, thus being effective among both promotion-focused and prevention-focused individuals. With no mention of a reference brand, noncomparative ads fail to generate regulatory fit thereby being less persuasive. Managerial implications for hospitality marketers are discussed.