The Wallet Allocation Rule
The Wallet Allocation Rule

Author: Timothy L. Keiningham

Publisher: John Wiley & Sons

Published: 2015-02-02

Total Pages: 240

ISBN-13: 111903731X

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Customer Loyalty Isn't Enough—Grow Your Share of Wallet The Wallet Allocation Rule is a revolutionary, definitive guide for winning the battle for share of customers' hearts, minds, and wallets. Backed by rock-solid science published in the Harvard Business Review and MIT Sloan Management Review, this landmark book introduces a new and rigorously tested approach—the Wallet Allocation Rule—that is proven to link to the most important measure of customer loyalty: share of wallet. Companies currently spend billions of dollars each year measuring and managing metrics like customer satisfaction and Net Promoter Score (NPS) to improve customer loyalty. These metrics, however, have almost no correlation to share of wallet. As a result, the returns on investments designed to improve the customer experience are frequently near zero, even negative. With The Wallet Allocation Rule, managers finally have the missing link to business growth within their grasp—the ability to link their existing metrics to the share of spending that customers allocate to their brands. Learn why improving satisfaction (or NPS) does not improve share. Apply the Wallet Allocation Rule to discover what really drives customer spending. Uncover new metrics that really matter to achieve growth. By applying the Wallet Allocation Rule, managers get real insight into the money they currently get from their customers, the money available to be earned by them, and what it takes to get it. The Wallet Allocation Rule provides managers with a blueprint for sustainable long-term growth.

Operations Management in the Hospitality Industry
Operations Management in the Hospitality Industry

Author: Peter Szende

Publisher: Emerald Group Publishing

Published: 2021-06-10

Total Pages: 220

ISBN-13: 1838675434

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From restaurants to resorts, the hospitality industry demands strong operations management to delight guests, develop employees, and deliver financial returns. This introductory textbook provides students with fundamental techniques and tools to analyse and improve operational capabilities of any hospitality organization.

Global Trends, Practices, and Challenges in Contemporary Tourism and Hospitality Management
Global Trends, Practices, and Challenges in Contemporary Tourism and Hospitality Management

Author: Batabyal, Debasish

Publisher: IGI Global

Published: 2019-04-05

Total Pages: 340

ISBN-13: 1522584951

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As one of the largest service industries serving millions of international and domestic individuals yearly, it is important to understand the current trends, practices, and challenges surrounding tourism. Emphasized by the effects on people, management processes, and technological advancements, this economic and socio-cultural phenomenon’s importance is increasing worldwide. Global Trends, Practices, and Challenges in Contemporary Tourism and Hospitality Management discusses and analyzes the impacts of new trends in the tourism industry, including sub-sectors of tourism, and revisits existing trends, identifies new types and forms of tourism, and discusses the influence and use of technology. Featuring research on topics such as guest retention, predictive analysis, and ecotourism practices, the material collected is ideally designed for managers, travel agents, industry professionals, practitioners, consultants, and researchers.

Revenue Management
Revenue Management

Author: Robert G. Cross

Publisher: Crown Currency

Published: 2011-04-27

Total Pages: 289

ISBN-13: 0307788989

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From the man the Wall Street Journal hailed as "the guru of Revenue Management" comes revolutionary ways to recover from the after effects of downsizing and refocus your business on growth. Whatever happened to growth? In Revenue Management, Robert G. Cross answers this question with his ground-breaking approach to revitalizing businesses: focusing on the revenue side of the ledger instead of the cost side. The antithesis of slash-and-burn methods that left companies with empty profits and dissatisfied stockholders, Revenue Management overturns conventional thinking on marketing strategies and offers the key to initiating and sustaining growth. Using case studies from a variety of industries, small businesses, and nonprofit organizations, Cross describes no-tech, low-tech, and high-tech methods that managers can use to increase revenue without increasing products or promotions; predict consumer behavior; tap into new markets; and deliver products and services to customers effectively and efficiently. His proven tactics will help any business dramatically improve its bottom line by meeting the challenge of matching supply with demand.

Hospitality Branding
Hospitality Branding

Author: Chekitan S. Dev

Publisher: Cornell University Press

Published: 2012-11-01

Total Pages: 191

ISBN-13: 0801465265

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In recent years the brand has moved squarely into the spotlight as the key to success in the hospitality industry. Business strategy once began with marketing and incorporated branding as one of its elements; today the brand drives marketing within the larger hospitality enterprise. Not only has it become the chief means of attracting customers, it has, more broadly, become the chief organizing principle for most hospitality organizations. The never-ending quest for market share follows trend after trend, from offering ever more elaborate and sophisticated amenities to the use of social media as a marketing tool—all driven by the preeminence of the brand. Chekitan S. Dev’s award-winning research has appeared in leading journals including Cornell Hospitality Quarterly, Journal of Marketing, and Harvard Business Review. He is the recipient of several major hospitality research and teaching awards. A former corporate executive with Oberoi Hotels & Resorts, he has served corporate, government, education, advisory, and private equity clients in more than forty countries as consultant, seminar leader, keynote speaker and expert witness. Hospitality Branding brings together the most important insights from the author’s many years of research and experience, all in a single, affordably priced volume (available in both print and eBook formats). Skillfully blending the knowledge of recent history, the wisdom of cutting-edge research, and promise of future trends, this book offers hospitality organizations the advice they need to survive and thrive in today’s competitive global business environment.