Decision making Holiday selection assignment

Decision making Holiday selection assignment

Introduction

In this Decision making Holiday selection assignment report as discussion would be carried out on the list of holiday options that I would choose and another list that I would not prefer but other people will. Then these locations would be evaluated on the ratings and a matrix of decision making would be developed. There would be application of the contemporary decision rule on this list of holidays and the selection of the best available choice. There would also be an analysis of the various personal characteristics of the individuals which influence their holiday decision making.Holidays are being taken for enjoyment and relaxation. Each and every individual has different expectations and preferences for taking up the choice of the holidays. This all depends on various parameters like: age, gender, experience, income level, cost of the holidays, safety and security, ethnicity and type of personality etc.

The list of holiday destinations that I would prefer is mentioned below:
  • Option 1 - Three day city break in Hong Kong covering Causeway Bay, Victoria Peak and the Ocean Park.
  • Option 2 - Seven day US tour including Los Angeles, New York, Chicago and Washington DC.
  • Option 3 - 4 Day trip to Singapore covering City tour, Night Safari, Zoo and Singapore Flyer.
  • Option 4 - 4 Days trip to Dubai covering Burj Al Arab, Dubai Museum and Yas Mariana Circuit.
  • Option 5 - 3 days trip to Thailand covering Bangkok, Pattaya, Coral Island Tour and sightseeing of city tour.
  • Option 6 - 3 days trip to Malaysia covering Kuala Lumpur, Genting Highland Tour and Sunway Lagoon.

This above mentioned is the list of 6 holiday destinations that either I would prefer or are among the most preferred destinations for the foreign travel by various travelers. The selection of the holiday destination is based upon various parameters of personal and professional and demographic characteristics.  In the next section a decision matrix would be created for these destinations on the basis of 6 parameters as listed below.

Creation of Decision Matrix

Decision Matrix is the criteria whereby based on certain evaluation criteria, the selection of the best choice for the holidays could be done. This decision matrix would include the 6 options for the selection of holidays and their rating or weight age on the basis of the parameters like: cost, travel time, accessibility, Night Life & safety and security, weather and available activities (Eshragh, 1980).

My score for each destination
Holiday List and their evaluation on the basis of various parameters as listed
ParametersRatingOption 1Option 2Option 3Option 4Option 5Option 6
1.     Cost1444444
2.     Weather2333333
3.     Travel Time3666666
4.     Sight Seeing Places & Available activities4111111
5.     Accessibility5555555
6.     Night Life & Safety & Security6222222
      Score of Friend 1 for each destination
Holiday List and their evaluation on the basis of various parameters as listed
ParametersRatingOption 1Option 2Option 3Option 4Option 5Option 6
1.     Cost1111111
2.     Weather2333333
3.     Travel Time3222222
4.     Sight Seeing Places & Available activities4555555
5.     Accessibility5444444
6.     Night Life & Safety & Security6666666
  Score of Friend 2 for each destination
Holiday List and their evaluation on the basis of various parameters as listed
ParametersRatingOption 1Option 2Option 3Option 4Option 5Option 6
1.Cost1666666
2.Weather2333333
3.Travel Time3444444
4.Sight Seeing Places   & Available activities4222222
5.Accessibility5555555
6.Night Life & Safety & Security6111111

The above three matrices show the result that is obtained as per me and my two friends for 6 holiday destinations chosen.

Application of Compensatory Decision Rule

Compensatory decision rule is basically the rule by which the travelers evaluate and give the rating and finally select the options of various holidays on the basis of their people performance and preferences by other people and market image. The decision of the selection of a holiday may be affected by the negative influence of one factor been overcome with positive influence of another factor or a parameter.

In the above scenario, it is being said that I prefer sightseeing places and travel plan with accessibility of the place rather than costing of that place. Friend 2 is also similar to me and has same personality. He also sees the places of visit and the travel & tourism plans and places rather than the cost of the package. Friend 1 sees the costing first, this is due to high responsibility and the level of income that he has. The detailed explanations are given below.

Analysis of choices

As per the above matrix it could be analyzed that for me the most important criteria of the selection of the holidays is the sightseeing, various available places and the night life. The least important out of all parameters for me is accessibility and travel time. I am an adventurous person who always want to avail the best available products, costing does not play a key role in my life. I believe that when we see various places then we tend to gain more knowledge on them (Nowlis et al, 2004).

Friend 1 will always see cost and travel time as the most important parameters for making decision with respect to holidays. This friend has 2 small children. She has to travel and avail holidays with her family. She has to see the costing first and in case the holidays fall in her budget she will avail. It is not that the other parameters are not important for her but the first priority is given by her to the costing. She has to ensure that she gets best possible alternative with the least price or the costing. Being accompanied by two children who are small and their lives have to be managed effectively. This friend of mine gives importance to costing. For her even the places which have children related adventure and benefits are preferred as tourist destinations. She would prefer to go to Hong King or Singapore as it has more of child related adventure in comparison to various other places which have less of child adventure (Taylor, 1998).

Friend 2 has also given importance to the sightseeing places and even the night life as I prefer. She considers costing as the last parameter that is considered while decision making. He is a bachelor who is earning and not staying with the family. For him there is a lot of importance to spend leisure and adventurous life. These kinds of people have no responsibility and they will not look for costing as the first choice of consideration for the holiday package. They will always see that the package option has all the leisure, adventure, sports and the fun loving activities so that they get relaxed during their vacations.

Conclusion

Selection of holidays to various destinations is not an instant decision that a customer will make. He has to look upon various factors and the attributes of the package that will influence his decision making. The various factors are the age, gender, culture, ethnicity, family structure, level of income and the personality of the individual. Every person cannot have same choice of the selection of the holidays. This has been proved by taking 6 destinations of the holiday packages that are prevalent in the market. These destinations have been displayed on the decision matrix and the choice of the various customers is checked on the basis of the parameters of costing, places of visit, weather, travel time and accessibility. It has been observed that each individual has different choices for the kind of package option that he will choose.

These personal factors play a great role but people do get influenced even by the options and choices taken by various other people. They would take the experiences of the other people and then based on their vacations at a specific place, they will decide on their holiday options. It is essential that the various factors are considered and the best possible option at low cost with lesser travel time and greater accessibility is being chosen. Whereas Singapore, Malaysia and Thailand would be preferred by other people who are neither fun lovers nor reserved (Heung & Chu, 2000).

References

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