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Title: | The effects of customer relationship management within marketing strategy in hotel industry in Vietnam | Authors: | Vu Tuan Bao | Keywords: | Customer relationship management (CRM);Vietnamese hotel industry | Issue Date: | 2023 | Abstract: | Revenue Management (RevM) is a traditional approach for hotel management because of the industry’s features: perishable assets, constrained capacity, volatile demand, low variable costs and available reservation (Wirtz, Kimes, Theng, & Patterson, 2003). Moreover, according to Chai, Ehrens, & Kiwak (2020), Customer Relationship Management (CRM) is the technology that hotels can apply to manage and study customer insights, which have the purpose to enhance customer relationships and consequently, improve revenue growth. However, these two approaches can have negative effects if those two are applied independently despite the same objective of boosting revenue and profitability (Lindenmeier & Tscheulin, 2008). Therefore, in research from Noone, Kimes, & Renaghan (2003), they suggested an integrated model of CRM and RevM in the hotel industry which is significant enough to have further empirical studies of model implementation. In the spirit of these findings, this thesis focuses on the implementation of CRM technology in the Vietnamese hotel industry as a Marketing strategy. Furthermore, the thesis describes possible conflicts of applying both CRM and RevM from the perspective of hotel managers and the compatibility of the aforementioned integrated concept in the context of Vietnamese hotel industry. Finally, the research proposes recommendations for the other managers. The research adopted the qualitative methodology along with the inductive approach and explanatory method. There were in-depth and qualitative interviews of hotel managers conducted for the primary data collection in this thesis besides the available research for the secondary data. The results indicated the applicable possibility of CRM in Vietnamese hotel within marketing as it was already implemented with positive outcomes and profitable. However, there were conflicts between the CRM and the traditional RevM system which the managers were cognizant about them in the hotel operation. They were also finding other strategies or methods to facilitate these shortcomings. Moreover, the awareness of the integrated concept among managers were considerable but the adaptation was still a hidden aspect in this country since there were lack of convincing practical studies and the insufficient hotel capabilities. As the researcher understood there were limitations in this research, further studies about the other aspects and research approaches were clarified and suggested for the development of practical findings in this field. |
URI(1): | https://epub.vgu.edu.vn/handle/dlibvgu/1664 |
Appears in Collections: | Finance & Accounting (FA) Finance & Accounting (FA) |
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