In business, it is very important to grasp and respond to significant changes in the market and consumers in a timely manner.
A visible example is during and after the COVID-19 pandemic, under travel restrictions, online services and delivery boom. In addition, people become more aware and concerned about their health. Their purchasing habits, behaviors, and even demands also change accordingly. Businesses need to understand the changes of customers to adjust and propose campaigns/strategies suitable for consumers (travelers) reasonably. And one of the best ways is using the tracking solution.
What is tracking?
Tracking is a method of following and observing research subjects in a specific period of time in order to measure changes in attitude, behavior, status,… for further analysis of the subject.
How can tracking help in market research?
Tracking allows the researcher to continuously or frequently follow a subject by repeating the same questionnaire over and over, and comparing how data points change over time.
Tracking studies can offer a 360° view on their subject and draw a big picture. It focuses on developments and shifts rather than the status quo. Tracking helps us discover relevant changes early to take action before the real problems come.
Based on tracking data of the market and customers, we will be able to decide to renew our business model and products/services in a specific time.
In travel market research in particular, tracking topics of The Outbox Company range from changes in demographics (e.g. age, income, value of life,…), to experiences and psychology of tourists (such as travel inspiration, satisfaction, etc.), or their behaviors (where and when they travel, whom they travel with,…).
Tracking in the Vietnam Travel Market Tracker solution
Lately, The Outbox Company launched a new solution named Vietnam Travel Market Tracker. This is now the first and only solution in Vietnam to track domestic and outbound Vietnamese tourist profiles.
With the solution, Outbox conducts online surveys via an online panel on 1,000 samples. Every three months, we will analyze and update the data to know the change in behavior and psychology of Vietnamese tourists. Then, Vietnam Travel Market Tracker users will have an overview of Vietnamese tourists throughout the year. Thanks to that, they can make decisions on improving existing products/services as well as creating new products/services to meet the needs of consumers.
