Price fairness and its asymmetric effects on overall price, quality, and value judgments: the case of an upscale hotel

Price fairness and its asymmetric effects on overall price, quality, and value judgments: the... Recent tourism and hospitality research has evidenced growing interests in such marketing issues as pricing, quality management, and value-laden destination development. While these and related behavioral theories have been introduced into the tourism and hospitality literature, many of them need rigorous re-evaluations and systematic inquiries in the tourism and hospitality context. Hence, building on economic utility theory, this study investigates a pricing issue with a focus on potential asymmetric effects of positive and negative price deviations—deviations from the internal reference price—on overall price, quality, and value perceptions of traveling lodging customers. Results indicate that the hypothesized asymmetric effects between positive (i.e., gain) and negative (i.e., loss) price deviations exist in buyers’ judgments of quality and value, although this is not the case in overall price perceptions. The article includes managerial implications of the findings and suggestions for future research in related contexts. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Tourism Management Elsevier

Price fairness and its asymmetric effects on overall price, quality, and value judgments: the case of an upscale hotel

Tourism Management, Volume 24 (4) – Aug 1, 2003

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Publisher
Elsevier
Copyright
Copyright © 2003 Elsevier Science Ltd
ISSN
0261-5177
DOI
10.1016/S0261-5177(02)00109-7
Publisher site
See Article on Publisher Site

Abstract

Recent tourism and hospitality research has evidenced growing interests in such marketing issues as pricing, quality management, and value-laden destination development. While these and related behavioral theories have been introduced into the tourism and hospitality literature, many of them need rigorous re-evaluations and systematic inquiries in the tourism and hospitality context. Hence, building on economic utility theory, this study investigates a pricing issue with a focus on potential asymmetric effects of positive and negative price deviations—deviations from the internal reference price—on overall price, quality, and value perceptions of traveling lodging customers. Results indicate that the hypothesized asymmetric effects between positive (i.e., gain) and negative (i.e., loss) price deviations exist in buyers’ judgments of quality and value, although this is not the case in overall price perceptions. The article includes managerial implications of the findings and suggestions for future research in related contexts.

Journal

Tourism ManagementElsevier

Published: Aug 1, 2003

References

  • Distributive justice
    Deutsch, M.
  • The price competitiveness of travel and tourism
    Dwyer, L.; Forsyth, P.; Rao, P.
  • Strategic success in winter sports destinations
    Flagestad, A.; Hope, C.A.
  • Integrated quality management for tourist destinations
    Go, F.M.; Govers, R.
  • Service quality of travel agents
    Lam, T.; Zhang, H.Q.
  • Remembering versus knowing
    Monroe, K.B.; Lee, A.Y.
  • Service quality, customer satisfaction, and customer value
    Oh, H.
  • Crafting a value-driven vision for a national tourism treasure
    Ritchie, J.R.B.

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