{"id":4778,"date":"2019-04-03T12:23:39","date_gmt":"2019-04-03T04:23:39","guid":{"rendered":"https:\/\/www2.ift.edu.mo\/NewsPortal\/?p=4778"},"modified":"2019-04-03T12:25:22","modified_gmt":"2019-04-03T04:25:22","slug":"wow-factor","status":"publish","type":"post","link":"https:\/\/www.utm.edu.mo\/NewsPortal\/wow-factor\/","title":{"rendered":"Wow factor"},"content":{"rendered":"\u4e2d\u6587\u6458\u8981 \/ Summary in Chinese<\/span>\n

The \u2018wow effect\u2019 created in audiences witnessing an innovative event can have a lasting and positive spill-over for hospitality-related brands, finds a study by 2 IFT scholars.<\/p>\n

\u201cEvent innovation notably induces a more favourable corporate image\u201d for the event organiser in the minds of event-goers, wrote IFT scholars Dr. Fiona Yang and Ms. Sherry Tan.<\/p>\n

Their study findings \u2013 based upon the impact of City of Dreams\u2019 resident show \u201cThe House of Dancing Water\u201d \u2013 also concluded that corporate branding efforts linked to innovative events were \u201cmore effective\u201d in securing repeat business than in attracting new clientele.<\/p>\n

\u201cThe results imply that \u2018repeaters\u2019 are more inclined to develop loyalty when they perceive a corporate image as innovative and unique,\u201d wrote Dr. Yang and Ms. Tan, referring to a brand\u2019s existing consumer audience. This represented \u201ccost-effective\u201d effort for the company involved, \u201cindicating less need for persuasion efforts and lower promotional expenditure for marketers,\u201d among such consumers, they added.<\/p>\n

The conclusions were featured in the paper \u201cEvent innovation induced corporate branding\u201d, published in 2017 in the International Journal of Contemporary Hospitality Management.<\/p>\n

The study was based on data collected from 280 tourists visiting Macao who were interviewed after watching \u201cThe House of Dancing Water\u201d. The participants were asked to complete a questionnaire designed to measure their opinions on matters related to the show, including event innovation, perceived value, corporate image and their feelings of loyalty to the corporation involved.<\/p>\n

\u201cOne of the major findings was that event innovation is not only the key to value enhancement of the featured show but also an efficacious instrument\u201d for enabling consumers to identify with the brand of the parent company and building corporate loyalty among them, the scholars wrote in their paper, adding that \u201ccustomers can draw inferences from their event experiences and in turn form an image of the entire business and other products or services of the same corporation as innovative and unique.\u201d<\/p>\n

Dr. Yang and Ms. Tan noted this meant that a firm could take advantage of its customers\u2019 prior positive experience of the brand or the brand\u2019s products when it introduced a new product or service.<\/p>\n

Role of innovation<\/strong><\/p>\n

Dr. Yang and Ms. Tan said hospitality operators and event planners could make use of the study results to learn how to harness innovation in the organisation of events for corporate branding purposes.<\/p>\n

The IFT researchers encouraged industry professionals to promote innovative events in connection with corporate branding, saying: \u201cExposure to advertising of the innovative elements of a featured event will have a positive effect on the brand image\u201d in the minds of consumers, and on the likelihood of individual consumers gravitating to the parent company behind the event.<\/p>\n

The combination of such advertising and experience of the featured event would in all likelihood \u201cfavourably affect the image of the parent brand and bring positive spill-over effects\u201d among consumers, the researchers noted.<\/p>\n

To build events perceived by audiences as innovative, operators should invest in \u201castonishing visual thrills, a spectacular stage, fabulous lighting and audio effects,\u201d suggested the study authors. Moreover, with a better understanding of the emotional connection customers can make with corporate brands, \u201cmarketers may strive to advertise a story that captures the imagination of the public and conveys a sense of excitement, happiness and energy.\u201d<\/p>\n

The IFT researchers additionally suggested operators make use of user-generated content \u2013 for instance, on their corporate websites \u2013 to showcase customers\u2019 admiration of the event and of the company. Marketers were also advised \u201cto adopt a customer co-creation approach\u201d by incorporating customer-designed elements into event storylines and marketing practices in order to facilitate the active involvement of audiences in a particular event.<\/p>\n

The IFT researchers stated that the various consumer reactions to event innovation detected by their study \u2013 in terms of first-time and repeat visitors \u2013 in the context of corporate branding suggested the need for different marketing strategies to effectively target each segment of the customer base.<\/p>\n

\u201cMarketers are recommended to supply potential new visitors with information in various media… to highlight the excitement and novelty brought by the incredible auditory and visual effects [of the innovative event],\u201d they wrote. In this way, first-time visitors could have \u201ca more favourable emotional experience\u201d when attending the particular event, potentially leading to spill-over effects regarding positive feelings about overall corporate branding.<\/p>\n

Repeat customers were, by contrast, focused on gaining practical benefits when it came to innovative events, namely in terms of \u201cquality, price, and product\/service performance\u201d. Therefore companies could offer them value \u201cby implementing competitive pricing strategies, e.g. bundled packages for other tourist activities, including hotel accommodation, fine dining and local tours, or discounted prices,\u201d it was suggested by the IFT scholars.<\/p>\n

<\/div>\n

More info<\/strong><\/p>\n

<\/div>\n
The researchers<\/div>\nDr. Fiona Yang is an Assistant Professor at IFT. She has a Ph.D. in industrial engineering and logistics management from the Hong Kong University of Science and Technology. Her academic research interests include supply chain management, and tourism and hospitality \u2013 namely organisational behaviour as related to hotel business, tourist behaviour, and destination branding. Dr. Yang has been engaged in a number of government-funded research projects in Mainland China, Hong Kong and Macao.<\/p>\n

IFT Lecturer Ms. Sherry Tan specialises in event management. She holds a master\u2019s degree in business administration from the University of Montreal, in Quebec, Canada. Prior to joining IFT, Ms. Tan worked in the meetings and conventions industry, gleaning experience from organising a wide range of events. Her research interests include event tourism, tourist behaviour and service management.
\n<\/div>\n

The paper<\/div>\nFiona Yang and Sherry Xiuchang Tan: \u201cEvent innovation induced corporate branding\u201d, International Journal of Contemporary Hospitality Management, Volume 29, Issue 3, pages 862-882, 2017.
\nhttps:\/\/doi.org\/10.1108\/IJCHM-09-2015-0512<\/a>
\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

The \u2018wow effect\u2019 created in audiences witnessing an innovative event can have a lasting and positive spill-over for hospitality-related brands, finds a study by 2 IFT scholars. \u201cEvent innovation notably […]<\/p>\n","protected":false},"author":18,"featured_media":4779,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54,136],"tags":[1041,837,1042,1040,1038,1044,1043,672,1039],"class_list":["post-4778","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-knowledge","category-main_headline","tag-branding","tag-city-of-dreams","tag-corporate-image","tag-event-branding","tag-fiona-yang","tag-international-journal-of-contemporary-hospitality-management","tag-loyalty","tag-sherry-tan","tag-the-house-of-dancing-water"],"views":1563,"_links":{"self":[{"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/posts\/4778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/users\/18"}],"replies":[{"embeddable":true,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/comments?post=4778"}],"version-history":[{"count":2,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/posts\/4778\/revisions"}],"predecessor-version":[{"id":4783,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/posts\/4778\/revisions\/4783"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/media\/4779"}],"wp:attachment":[{"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/media?parent=4778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/categories?post=4778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.utm.edu.mo\/NewsPortal\/wp-json\/wp\/v2\/tags?post=4778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}