Impact of Environmental Factor on Accor Hotel-Samples for Students

Question: Identify and discuss the three most relevant environmental factors that you believe have an impact on the Accor Hotel chains, here in Australia. Answer: Introduction Accor group of hotels is one of the prestigious hotel chains present across the globe. The group is a French multinational. The hotel currently operates in over 95 countries through 3700 hotels. The chain has various brands of hotels and each of these brands caters to a different target market. There are various factors within an economy that directly or indirectly impact the hotel business. This report lays emphasis on three such factors that affect the group. Environmental factors affecting Accor group of Hotels Technological Technology has been a boon to our generation and has made the booking process very easy for a customer. Gone are the days, when travelers had to visit the travel agency in order to book their stays. The advent of technology has made it easier to book the exact room that a person desires just by a single click (Wang, Li, Li Zhang, 2016). This advancement of technology directly impacts the business of Accor group as now it is easier for them to attract more customers. On the other hand, with the advent of technology has also allowed brands like the Accor group to reach out to customers through innovative channels of social media marketing and digital marketing. Social media marketing refers to the promotion of any brand through social media platforms like Facebook, Instagram, Twitter and Pinterest (Tuten Solomon, 2017). Search engine optimization and marketing strategies can be adopted by Accor group of hotels to ensure a wide customer reach across the globe. Competition The increasing competition in any industry often directly hurts the players of that industry. The Australian hotel industry is booming and is expected to maintain the growth in the coming years. Therefore there is an increasing competition. Every other day the country is witnessing the opening of one or the other hotel. Moreover chains like AirBnB and Zostels have provided travelers with an option for accommodation at a much cheaper price (Guttentag, 2015). These businesses are badly affecting the hotel industry and Accor group of hotels. Brand name of the hotels carried a lot of weight as people preferred staying in hostels that they are aware about. But the presence of various online hotel booking websites has provided the customer with a lot of option to select from. Websites like lookingforbooking.com and choicehotels.com have created a platform for even a brand new hotels to reach out to the same customers as a brand that exists from a long time. This competition is sure to impact the business of Accor group of hotels as well. Social factors There are various factors that exist in an economy that impact the business of Accor group of hotels. For Example, Sydney 2000 Olympics marked the boom of the hotel industry in Australia. The research shows a positive 10 year forecast. Similarly such international events make Australia a destination for various tourists and this in turn leads to improved hotel business. Changing lifestyles of people have also impacted Accor group of hotels. Increased disposable income of people has made it easier for them to afford hotels like those of the Accor group. Improved tourism in the country has enhanced the number of tourists every year and made Australia an attractive destination for the same. Such efforts also indirectly impact the business of Accor group of hotels (Westphal, 2016). Importance of buyer behavior Understanding buying behavior is extremely crucial to any marketer. Firstly it helps them to understand consumer needs. Therefore makes it easier for them to cater to those needs through introduction of products. Secondly, it helps marketers in gaining a feedback about their product and this enables them to improvise their product or service as per the feedback (Aday Yener, 2014). Lastly, buying behavior of customers also helps marketers in understanding competition and hence gaining an edge over these competitors. Restaurant selection I visit restaurants very often and there are various factors that I consider while selecting the right restaurant. These factors include taste of the food, hygiene level of the restaurant, customer service, ambience, price and distance from my place. On most days, price takes precedence over other factors. However, while selecting the restaurant for a special occasion, price takes a back seat but the ambience and the quality of food become a preference. The taste of the food plays a very important role as it serves the primary purpose of visiting a restaurant. Therefore I would always read reviews about the food before visiting the place. Secondly, for a special occasion, the ambience of the place also plays a vital role. It feels good to be around a place that looks beautiful. People have a habit of clicking many pictures and capture the memories of the special day. Hence, I check out the photos of the restaurant before booking it. I would also confirm if the music is soothing. Thirdly, customer service at the restaurant is very important to me. Assuming I would share the special occasion with my loved ones, I would like the waiting staff and the manager to communicate politely with my people. Fourthly, for a special occasion, I should be able to book the table in advance and would not appreciate waiting outside a hotel to get a table. Therefore, I would ensure I visit a restaurant that allows advance booking (online or on the phone). Fifthly, I would analyze my budget and select a restaurant that suits my budget. Usually my budget for a special occasion would be relatively high and hence I would have a wide variety of options to select from. Lastly, I would try to find a restaurant that is not very far away from my place. Conclusion Marketers study buyer behavior in order to understand their needs better. The process of understanding consumer behavior is often aimed at bettering their product or service to suit the consumer needs in a better manner (Solomon, Dahl White, 2014). This behavior also helps them understand various attributes that impact buyers while making a purchase. In selecting a restaurant for a special occasion, I would consider factors like price, ambience, food quality taste and distance from my place etc. Such a knowledge helps marketers to gain a deeper insight about consumer preferences. References Aday, M.S. and Yener, U., 2014. Understanding the buying behaviour of young consumers regarding packaging attributes and labels.International journal of consumer studies,38(4), pp.385-393. Guttentag, D., 2015. Airbnb: disruptive innovation and the rise of an informal tourism accommodation sector.Current issues in Tourism,18(12), pp.1192-1217. Solomon, M.R., Dahl, D.W., White, 2014.Consumer behavior: Buying, having, and being(Vol. 10). Pearson. Tuten, T.L. and Solomon, M.R., 2017.Social media marketing. Sage. Wang, Y.S., Li, H.T., Li, C.R. and Zhang, D.Z., 2016. Factors affecting hotels' adoption of mobile reservation systems: A technology-organization-environment framework.Tourism Management,53, pp.163-172. Westphal, N., 2016. Analysis of the UK Package Holiday Industry and its Environment.