Buying Behaviour and the Psychology - Management Assignment Help

Assignment Task

Abstract

This research-based study focuses on the buying behaviour and the psychology which plays behind it by the flash sales in the tourism and hospitality industries. There are many factors that affect the tendency to purchase products and services across various sectors. The preference of products varies from person to person. However, there are some universal conditions or factors such as colour, product placement, marketing, targeting emotions which play a pivotal role for the brands to determine the probability of the sale of the product in the market.

Apart from this many brands tend to utilize the "quick judgment better benefits" rule on the customers by offering crazy deals for a very short period which are known as Flash Sales. The flash sales use the strategy of showing the consumers crazy discounts and deals and provoke them to make purchases instantly without any second thought. This technique owes its roots to psychology and other necessary internal or external factors in influencing the buying behaviour of the consumers.

The research, therefore, revolves around the central question that “do really flash sales affect consumer buying behaviour and if so, then how?” specifically in the tours and travelling sector. The research also highlights the other linked factors associated with the product purchase tendency and depicts the relationships between the feasibility of flash sales and those external factors in the tourism industry to be precise. The quantitative nature of the research uses empirical data gathered from offline surveys from random people, hotel managers, shopkeepers at popular tourist spots and online surveys at travel websites.

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