From hype to value. Virtual Reality Tools in the Tourism Industry and their Influence on Booking Behaviour

Research Paper (postgraduate) from the year 2018 in the subject Tourism - Miscellaneous, grade: 1,0, Technical University of Munich (Lehrstuhl für Sport- und Gesundheitsmanagement), language: English, abstract: In light of fierce competition and fast changing markets, travel firms have to make reasonable use of new technologies in order to succeed. Virtual Reality (VR) enables travellers to experience a destination in advance and entertains hopes to positively influence the booking behaviour of travellers. The author of this publication examines the effect of VR exposure on the booking decision process, specifically on the purchasing probability, the speed of decision-making and turnover. Different to other research, the book at hand analyses actual purchasing decisions from the perspective of travel sales agents instead of consumers expressing purchasing intentions in artificial laboratory situations. The current technological development considerably affects the way how tourism destinations and touristic products are perceived and how booking decisions take place. In that context, it is crucial to understand consumer decision processes, especially in the travel and hospitality sector. "Virtual Reality Tools in the Tourism Industry and their Influence on Booking Behaviour" investigates consumer behaviour based on a structural model. Carola Epple offers handy guidelines for travel marketers how to best use VR for their purposes and supports managerial practice by indicating how the relevant constructs can be stimulated.

Autorentext

Carola Epple is a media and innovation manager with a focus on sports, travel, outdoor & lifestyle and a track record in business development and innovation management. Between having two children, she completed an Executive MBA in Innovation and Business Creation at the Technical University of Munich. This book is her thesis to obtain the MBA. In cooperation with the travel distribution company Schmetterling International, she conducted an empirical study on how Virtual Reality tools influence the booking behaviour of travellers. Different to other research in this field, this study is not based on artificial laboratory situations, but on real, VR supported booking decisions in travel bureaus. Coming from the results of the study, Carola Epple was convinced that the approach of her findings could also be transferred to online marketing. This finally led her to found her own company, VirtuallyThere Media (www.virtuallytheremedia.com), to offer an online tool for travel companies to enhance conversion rates with the help of virtual experiences.

Zusammenfassung
Research Paper (postgraduate) from the year 2018 in the subject Tourism, grade: 1,0, Technical University of Munich (Lehrstuhl für Sport- und Gesundheitsmanagement), language: English, abstract: In light of fierce competition and fast changing markets, travel firms have to make reasonable use of new technologies in order to succeed. Virtual Reality (VR) enables travellers to experience a destination in advance and entertains hopes to positively influence the booking behaviour of travellers.The author of this publication examines the effect of VR exposure on the booking decision process, specifically on the purchasing probability, the speed of decision-making and turnover. Different to other research, the book at hand analyses actual purchasing decisions from the perspective of travel sales agents instead of consumers expressing purchasing intentions in artificial laboratory situations.The current technological development considerably affects the way how tourism destinations and touristic products are perceived and how booking decisions take place. In that context, it is crucial to understand consumer decision processes, especially in the travel and hospitality sector. Virtual Reality Tools in the Tourism Industry and their Influence on Booking Behaviour investigates consumer behaviour based on a structural model. Carola Epple offers handy guidelines for travel marketers how to best use VR for their purposes and supports managerial practice by indicating how the relevant constructs can be stimulated.