Assessing the value of virtual tribes @inbam 2013

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Conference proceeding at the International Network of Business and Management Journals (INBAM), Cornell Hospitality Quarterly Track, LIsbon, June 19th 2013. This research explores the link between …

Conference proceeding at the International Network of Business and Management Journals (INBAM), Cornell Hospitality Quarterly Track, LIsbon, June 19th 2013. This research explores the link between consumer tribes, loyalty and company generated stimulus in Social Networking Services. Furthermore, this research analyses the possibilities for companies to enhance the consumer-consumer relationships. Finally, this research assesses the value of virtual tribes for restaurant operations in Finland.

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  • 1. Assessing the Value of Virtual Tribes for Restaurant Operations International Network of Business and Management Journals (INBAM) June 19th 2013, Lisboa, Portugal Cornell Hospitality Quarterly (Sage), Track: Advancements in Hospitality Research Through Cross-Disciplinary Integration Dr. Pasi Tuominen HAAGA-HELIA University of Applied Sciences, Helsinki, Finland
  • 2. Aims of the study  Explore the link between consumer tribes, loyalty and company generated stimulus in Social Network Services (SNS).  Analyse the possibilities for companies to enhance the consumer-consumer relationships.  Assess the value of the tribe. Dr. Pasi Tuominen 2
  • 3. Definition of a Virtual Tribe  Determined even less by geography, pedigree, race or religion.  Instead, the tribes are determined largely by education and accomplishment  Manifested by the things we consume.  Sharing similar beliefs, values or customs setting them apart from the dominant societal culture. e.g. D’Alessandro (2001); Cova and Cova (2002); Kozinets & Handelman (2004); Kozinets, Cova & Shankar (2007) Dr. Pasi Tuominen 3
  • 4. Theoretical framework for this study Dr. Pasi Tuominen 4
  • 5. Research Methodology  the focus of the study was a restaurant chain with 20 units and two privately owned restaurants in Finland.  brand related interactions, blog posts, comments, likings and the mentions were collected using tailored data mining device.  retrieved data was analysed using combination of descriptive statistics and content analysis.  conducted between June 1st 2010 and June 1st 2012. Dr. Pasi Tuominen 5
  • 6. Research Methodology Dr. Pasi Tuominen 6 N Minimu m Maximu m Mean Std. Deviation FB People like this 26 169 5333 897,38 1036,678 monthly www visitors 26 2602 25553 8157,50 5814,403 monthly www visits 26 3081 31503 10149,42 7125,841 monthly active FB users 26 16 906 272,15 215,893 Valid N (list wise) 26
  • 7. Findings part 1 – The origin of a restaurant tribe in Facebook Dr. Pasi Tuominen 7 N Minimum Maximum Mean Std. Deviation Personal FB Friends 4 119 392 226.25 127.980 FB Fans (persona related) 4 94,00 311,00 206,50 115,978 FB Fans (industry related) 4 31,00 82,00 59,75 23,315 FB Fans (family related) 4 6,00 19,00 14,25 6,185 Valid N (list wise) 4
  • 8. Findings part 2 - reactions to diverse company generated content Dr. Pasi Tuominen 8
  • 9. Findings part 3 - changes in purchasing behaviour of Facebook Fans and non-fans Dr. Pasi Tuominen 9 Facebook fan visits the restaurant 18% more often. The increase of a Facebook fan’s purchase is 62% higher.
  • 10. Conclusion  the process of creating a tribal brand integrates thousands of social interactions amongst customers with various facets of their preferred brand  the formation of a virtual tribe starts from an individual  primarily based on affective rather than on rational or commercial bases  through maintenance and facilitation of the tribe,  formation of an affective bond with a firm  ultimately a bonded and loyal relationship with the brand. Dr. Pasi Tuominen 10
  • 11. Future research  empirical models  managerial implications in how marketers should engage with virtual tribes Dr. Pasi Tuominen 11