Artificial Intelligence Predicts Traveller Behaviors?

2019-07-03

Author : Johnny Ch Lok
Release : 2019-07-03
Genre :
Kind : eBook
Book Rating : 437/5 ( reviews)

Book Synopsis Artificial Intelligence Predicts Traveller Behaviors? by : Johnny Ch Lok

Download or read book Artificial Intelligence Predicts Traveller Behaviors? written by Johnny Ch Lok. This book was released on 2019-07-03. Available in PDF, EPUB and Kindle. Book excerpt: What methods can predict future travel behavioural consumptionHow to use qualitative of travel behavioural method to predict future travel consumption. I also suggest to use qualitative of travel behavioural method to predict future travel consumption. Methods such as focus groups interviews and participant observer techniques can be used with quantitative approaches on their own to fill the gaps left by quantitative techniques. These insights have contributed to the development of increasingly sophisticated models to forecast travel behavior and predict changes in behavior in response to change in the transportation system. First, survey methods restrict not only the question frame but the answer frame as well, anticipating the important issues and questions and the responses. However, these surveys methods are not well suited to exploratory areas of research where issues remain unidentified and the researched seek to answer the question "why?". Second, data collection methods using traditional travel diaries or telephone recruitment can under represent certain segments of the population, particularly the older persons with little education, minorities and the poor. Before the survey, focus group for example can be used to identify what socio-demographic variables to include in the survey, how best to structure the diary, even what incentives will be most effective in increasing the response rate. After the survey, focus, focus groups can be used to build explanations for the survey results to identify the "why" of the results as well as the implications. One Asia Pacific survey research result was made by tourism market investigation before. It indicated the travel in Asia Pacific market in the past, had often been undertaken in large groups through leisure package sold in bulk, or in large organized business groups, future travelers will be in smaller groups or alone, and for a much wider range of reasons. Significant new traveler segments, such as female business traveler. The small business traveler and the senior traveler, all of which have different aspirations and requirements from the travel experience. Moreover, Asia tourism market will start to exist behaviors in the adoption of newer technologies, a giving the traveler new ways to manage the travel experience, creating new behaviors. This with provide new opportunities for travel providers. The use of mobile devices, smartphones, tablets etc. and social media are the obvious findings to become an integral part of the travel experience. Thus, quality method can attempt to predict Asia Pacific tourism market development in the future. However, improving the predictive power of travel behavior models and to increase understanding travel behavior which lies in the use of panel data( repeated measures from the same individuals). Whereas, cross-sectional data only reveal inter-individual differences at one moment in time, panel data can reveal intra-individual changes over time. In effect, panel data are generally better suited to understand and predict ( changes in ) travel behavior. However, a substantial proportion was also observed to transition between very different activity/travel patterns over time, indicating that from one year to the next, many people renegotiated their activity/travel patterns.

Artificial Intelligence Predicts Consumer Behavior Tool?

2018-09-24

Author : Johnny Ch LOK
Release : 2018-09-24
Genre :
Kind : eBook
Book Rating : 009/5 ( reviews)

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Book Synopsis Artificial Intelligence Predicts Consumer Behavior Tool? by : Johnny Ch LOK

Download or read book Artificial Intelligence Predicts Consumer Behavior Tool? written by Johnny Ch LOK. This book was released on 2018-09-24. Available in PDF, EPUB and Kindle. Book excerpt: AI predicts England wine bar different segmentation drinker behavior1.Critically evaluate the bases that bars may use to segment their markets.(AI) can help the England win bar to gather data concerns different win drinking segment consumer drinking wine taste choices, then it can predict what countries people will prefer to choose to drink the kind of wine taste in order to choose the preferable kinds of taste wine to satisfy different countries' wine drinkers.The United Kingdom bars market is a mass marketing, it means a strategy that presumes these is one undifferentiated market and that the bars wine drinking service provision will appeal to all consumers in that similar bar market. Marketing matching strategy divides segmentation, it means act of dissecting the marketplace into submarkets ( segments) that require different marketing mixes, then targeting, it is the process of reviewing market segments and deciding which one(s) to pursue finally positioning, it needs to establish a differentiating image for a product or service in relation to its competition. segmentation variables may divide geographic, demographic, psychographic and behavioral variables.In general, marketers may use a single variable or two or more variables. Geographic segmentation is based on the location of the target market, people living in the same area have similar needs that differ from living in other areas, climate, population, taste and micromarketing. Demographic segmentation is based on factors, such as age, gender, marital status, income, occupation, education, ethnicity. Psychographic segmentation is based on lifestyle and personality characteristics. Behavioral segmentation is based on attitudes toward or reactions to a product/service and to its promotional appeals, usage rate, benefits sought from a product/ a service and loyalty to a brand or a store.There are three basic market targeting strategies, such as undifferentiated, differentiated and concentration. Undifferentiated strategy ignores differences between groups within a market and offers a single market mix to the entire market and it works when a product/service is new to the market and there is minimal or no competition. Differentiated strategy means targeting two or more segments with different marketing mixes for each, concentration strategy focuses on one sub-market. Most British towns would had many small bars, all looking fairly similar to each other, with relatively few point of differentiation. Thus, if the UK bars do not use to segment their markets. I believe these UK bars will face much competition between themselves. In general, the market for drinking in pubs was fairly homogenous, comprising mostly male, who went to the pub mainly to drink and only very rarely to eat.Now, UK pubs, clubs and bars continues to be a popular leisure activity in UK and pubs have benefits from a growth in eating out.But, pub operators face challenges , including taxes on alcohol, growing competition from supermarkets for off sales, a smoking bad introduced. Pub operators have had to focus the design of bars on meeting the needs of smaller and smaller market segments. No longer is the pub market dominated by males going out to drink-professional women and families are among many segments and the professional and families segments, who seems dislike loud music or big screen television, who like to drink good quality coffee served more than beer, who like to enjoy bright and airy decorative in bars, who like to drink served to the table rather than queuing at the bar. These may have been design features that were unsought or unwanted by the traditional male heavy drinker segment.

Artificial Intelligence Predicts Consumer Behavioral Tool

2018-11-23

Author : Johnny Ch LOK
Release : 2018-11-23
Genre :
Kind : eBook
Book Rating : 166/5 ( reviews)

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Book Synopsis Artificial Intelligence Predicts Consumer Behavioral Tool by : Johnny Ch LOK

Download or read book Artificial Intelligence Predicts Consumer Behavioral Tool written by Johnny Ch LOK. This book was released on 2018-11-23. Available in PDF, EPUB and Kindle. Book excerpt: How to apply (AI) tools to predict vehicle buyers' behavioral consumption model? Whether artificial intelligent tools can predict automotive buyers' behavioral consumption model and predict future trend. In fact, automotive brands and dealerships are facing an increasingly competition when attempting to manually gathering the vast quantities of data required to create customer focused programs that increase retention, ultimately new sales and service automotive business. Building a based on that client's intrinsic needs and interests to any kinds of automotive vehicles at any given time. This is especially true in the automotive industry where the time span between purchases is measured in years. Because vehicle buyers would not like often to change their old vehicle to another new one. So, their decisions to buying another new vehicle, the time is usually after one year, even longer time. Hence, it seems any vehicles won't be frequent consumption products to the owned at least one vehicle family consumers (vehicle buyers).Hence, how to predict vehicle consumers' taste or preferable which styles of vehicle choices issues is very important. If the vehicle manufacturers can not manufacture any attractive vehicles to sell easily in this year. Then, it will lose time, money in this year because it won't know when the owned least one vehicle users or non-owned any vehicle users who will decide to buy one new vehicle or change another new vehicle ensure. The different brand vehicle dealers will possible wait more than one year to attract them to buy their vehicles if their styles are not attractive to compare other brands of vehicle competitors.However, artificial intelligence and machine learning can help any vehicle manufacturers to find solution to solve patterns in highly to solve patterns in highly complex data-sets that are beyond the capability of a human brain, and then building and automatically acting on the customer insights it generates. Given the automotive customer need for individualized communications, this technology is positioned to become a critical component of any successful vehicle retailer's domestic or/and overseas vehicle markets. How can vehicle manufacturers and retailers use (AI) to enhance their vehicle marketing campaigns? How will (AI) affect their vehicle sale marketing strategy? What criteria would they use when selecting on (AI) solution?Vehicle consumers today are able to quickly access different brands of vehicle information, research vehicle products and reviews, negotiate prices and compare one vehicle brand or retailer to another resulting of the brands of vehicle customers. At the same time, the rise of " big -data mining", wearable devices that track user's every move and preference and greater contextualization in advertising and social media has resulted in consumer expectations of individualized. Thus, it seems that (AI) tools can be used to gather " big-data" and then they can make human's mind to analyze how to design kinds of vehicles to satisfy vehicle buyers' needs.As automotive vehicle marketers can apply (AI) tools to achieve messaging strategies to meet the needs of this new generation of informed vehicle consumers, using data from a variety of sources to move from a variety of sources to move from mass- messaging to more personalized messages aimed at particular vehicle buyer segments, e.g. fast speed sport vehicle buyer segment, slow speed comfortable small size or large size of buyer segment. However, when 90% of vehicle marketers believe having a single vehicle buyer view is important, only 6% have achieved it.

Artificial Intelligence and Consumer Behavior Relationship

2018-09-14

Author : Johnny Ch Lok
Release : 2018-09-14
Genre :
Kind : eBook
Book Rating : 865/5 ( reviews)

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Book Synopsis Artificial Intelligence and Consumer Behavior Relationship by : Johnny Ch Lok

Download or read book Artificial Intelligence and Consumer Behavior Relationship written by Johnny Ch Lok. This book was released on 2018-09-14. Available in PDF, EPUB and Kindle. Book excerpt: Economic science or economic art methods predict consumer behavior Economic is both a science and art. Economic is considered as science because systematic knowledge derived from observation, study and experimentation. An art is the practical application of knowledge for achieving definition ends. A science teaches us to know a phenomenon and art traches us to do a thing. How to apply economic science or art method to predict consumer behavior? for example, there is a inflation US this year. This information is derived from positive science. The government takes certain fiscal and monetary measures to bring down to general level of prices in the country. The study of the monetary measures to bring down inflation makes the subject of economics as an art. Hence, as this case, if US government applies economic science or art method to predict this year will have inflation in US, then US government will attempt to avoid social general product prices to be raised, due to inflation influence. It aims to avoid US consumers reduce consumption desire in this year. For another example, nothing could be more useful than water. But in much of the world waste is plentiful enough that another glass more or less matters little to a fresh water supply agent businessman. So, water is chap. But, if any offices buy bottle of glass fresh water to let employees to drink. It will bring advantages that they do not spend time to buy water to drink when they are working in the office time in any offices as well as employees do not need to heat water to drink to waste time to work in offices. So, the bottle of fresh drinking water supply agent is one kind of drinking water product monopoly fresh drinking water supplier to supply fresh drinking water to satisfy office employees who do not need to spend time to heat water to drink in offices. Hence, it is possible that replace other different kind taste of drink or office employees themselves heat water drink in offices. It is general office employees' drinking habits and drinking choice in offices popularly. So, the bottle of fresh drinking water supply agents will concentrate on selling their fresh drinking water to office employee customers only in global fresh drinking water consumption target market. The office employees must be fresh drinking water companies' main target consumers. What is economic laws qualitative or quantitative method to predict consumer behavior? Law of economic are qualitative in nature. They are not exactly stated in quantitative terms. They tell the direction of change which is expected rather than the amount of change. For example, according to the law of consumer demand, the quantity demanded varies inversely with price, We don't say that 10% rise in price will lead to 30% fall in the customers' quantity demand. What is economic merits of deduction method? This method is near to reality. It is less time consuming and less expensive. the use of mathematical techniques in deducing theories of economics brings exactness and clarity in economic analysis. The deductive method is highly abstract. It require a great deal of care to avoid bad logic or faulty economic reasoning. This method makes conclusions to predict consumer behavior, due to reliance on imperfect and correct assumptions. It involves the process of reasoning from particular facts to general principle on the basic of experimentations, observations and statistical methods. In this method, data is collected about a certain economic phenomenon. There are systematically arranged and the general conclusions are drawn from them.

Can Apply Artificial Intelligence Predicts Consumer Behavior in Business Environment

2018-09-09 Business & Economics

Author : Johnny Ch Lok
Release : 2018-09-09
Genre : Business & Economics
Kind : eBook
Book Rating : 808/5 ( reviews)

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Book Synopsis Can Apply Artificial Intelligence Predicts Consumer Behavior in Business Environment by : Johnny Ch Lok

Download or read book Can Apply Artificial Intelligence Predicts Consumer Behavior in Business Environment written by Johnny Ch Lok. This book was released on 2018-09-09. Available in PDF, EPUB and Kindle. Book excerpt: Can implicit design questionnaire (survey) or /and interview methods can test consumer behavior for measuring consumer response to environment protection product by AI marketing research survey method? Some design researchers often use interviews and/or questionnaires to measure consumer response to any product design method, such as environment protection product. In psychology, " implicit" tests have been developed in an attempt to overcome self-report biases and to obtain a more automatic measure of attitudes. Two exploratory studies have conducted to (i) establishing an acceptable methodology for implicit tests using product images, and (ii) determining whether response to products can produce significant effects in affection. How to contribute design-research methodological developments for measuring consumer response. For example, product design research and conventional methods need to be gathered consumer feedback. How can consumer research in product design? Understanding how consumer experience designed products has important implications for design research and design practice. Thus, product manufacturers need to attempt to develop knowledge about the relationship between product designs and the responses who elicit from consumers, e.g. borrowing which product features can contribute to consumer preference by presenting consumers with a range of products or design variants and measuring subjective responses to them. This process can offer guidance for what products or design variants might be most preferred and can give useful clues for further design development. Consumer response can be measured by questionnaires( surveys), interviews and focus groups. Questionnaire methods are especially popular and often feature attitude response. However, consumer survey responses may not fully capture reactions to a product or predict future behavior, such as purchasing decisions in the marketplace. This is evidence that actual product-related behavior is affected any more spontaneous or impulse processes, as consumers are often distracted or processes for time when consuming products or making product decisions ( Friese, Hofman & Wanke, 2009). For example, cell phone images can be replaced with cars in order to develop the experiment using a second product category. As with phones, vehicles were chose, due to their wide appeal, user involvement and variety of models for potential testing. In these experimental studies, the consumption psychologists selected products from two categories ( phone models and car models) with the intention of measuring significant differences in approach bias among product stimuli. These consumption psychologists aim to test that of the method could be defined to measure attitudes with sufficient sensitivity, variants of particular designs could also be used as stimuli, offering feedback on the viability of different design directions. The consumption psychologists feel it will be helpful to add multiple questions to the self-report stage . Instead of a single attractiveness rating, who might as about " liking" or "employing additional methods." Comparison with real would measure, such as willingness to pay, prior ownership or observed consumption behavior may also be instructive. It may also be worthwhile test a version of the task where the correct response is determined by a feature, such as class membership ( product color), shape, brand etc. instead of image, location or rotation. It seems survey method can be used to predict whether how to design environment protection product to attract many consumer choices. In the economic view point, instead of consumer will compare different similar product price, who also compare product color, shape, size of design factor to decide to make final consumption decision.

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