A Structural Analysis of Value, Quality, and Price Perceptions of Business and Leisure Travelers

Rajiv K. Kashyap · David C. Bojanic

366 citations0/0 files storedJournal of Travel Research

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Abstract

Customer value has become the focus of firm strategies in recent years. This study investigates the relationships between travelers’ perceptions of value, quality, and price and their influence on travelers’ ratings of similar hotels and revisit intentions in two segments, business and leisure travelers. The findings suggest that value plays a pivotal role in travelers’ decision schema, emphasizing the need to shift efforts from managing quality alone to managing customer value. Differences in the value perceptions of business and leisure travelers emphasize the need to develop segment-based strategies for managing price and quality.

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References

1988Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence 1989Structural Equations with Latent Variables 1991Structural Equations with Latent Variables.2015A Beginner's Guide to Structural Equation Modeling 1997Customer value: The next source for competitive advantage 1982A Means-End Chain Model Based on Consumer Categorization Processes 1980Pricing: Making Profitable Decisions 1990Choosing a multivariate model: Noncentrality and goodness of fit.

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