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Showing posts from July, 2020

The 7 Ps marketing mix of home-sharing services: Insights from over one million Airbnb reviews

The 7 Ps marketing mix framework is a widely used managerial tool that helps businesses identify the principal components of a service product. The 7 P elements include Product, Promotion, Price, Place, Participant, Physical Evidence, and Process.The 7 Ps framework can assist marketers in making decisions regarding segmentation, positioning, and differentiation. Even for the same type of products with different brands, marketers can still drive higher sales through the improvement of a product’s marketing mix.  The empirical study about 7 Ps of home-sharing servicesBuilding upon the 7 Ps marketing mix framework, I led a research team in a big-data, supervised machine learning analysis of over 1.14 million English reviews of 37,092 Airbnb listings in San Francisco (SFO) and New York City (NYC). We aimed to discover new meaningful business intelligence through the analysis of an immense quantity of online review information that is created by consumers in the cyber marketplace.We publis…

Recovery is when Gen Zers and Millennials travel for business

Gen Z and Millennials are key to travel industry’s recoveryThat was the headline of a Travel Pulsereport, which quoted a GlobalData survey. The survey suggests that younger and wealthier travelers would be the first to resume international leisure travel when the COVID-19 restrictions are lifted. Both generations belong to the younger group of travelers, with the oldest Millennials just turning 39 this year.That assumption is probably right, but Gen Zers and the Millennials have their concerns too. For example,  
Gen Z – “A worried generation”Gen Zers are those who were born after 1996 or 2000, depending on where the line is drawn. Even using the cutoff line of 2000/2001, Gen Zers make up 32% of the world population, above the Millennials at 31.5%.Gen Zers have never lived without terrorism since the 911 Attack. They grew up from the Great Recession. As a result, they are less likely to take risks than previous generations. Some even called Gen Zers “a worried generation.”During COVID-…