Bikhchandani, hirshleifer and welch (1992) proposed a herding model with an independent payoff structure for individuals (no externality) that explains the convergence of decisions by information cascade.
Various factors and consumer buying behaviour kotler (2001) mentioned that demographic ,social and cultural factors which influenced customer's buying behaviour are the internal factors including age, gender, income, occupation, education, family size, and religion, race, generation, nationality and social class, so the market is divided based on these factors. Consumer herding behaviours in the hotel industry traditional word-of-mouth has been recognized as an effective marketing tool that has a significant impact on customer behaviour nowadays, the emergence of the internet means consumers are now creating and spreading marketing information, easier than before internet existence.
Request pdf on researchgate | online consumer herding behaviors in the hotel industry | the emergence of the internet brought changes to traditional word-of-mouth communication (wom) consumers are able to share and exchange opinions with anyone in the world, while wom has customarily resulted from face-to-face relationships.
As we mentioned earlier in the chapter, consumer behavior is influenced by many things, including environmental and marketing factors, the situation, personal and psychological factors, family, and culture.
The hotel industry online herding effects occur when consumers, in an online environment, are confronted with the articulation of preceding customers’ or expert experiences factors which are influenced by online herding effects are sales volume communication or positive and negative number of consumer reviews.
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