Value dimensions, perceived value,

satisfaction and loyalty: An investigation

of university students’ travel behaviour

Presenter: Catherine Wu

Instructor: Dr. Pi-Ying Teresa Hsu

Date: May 4, 2011

1

Martina, G. G. , & Irene, G. S. (2006).Value

dimensions, perceived value, satisfaction

and loyalty: an investigation of university

students’ travel behaviour. Tourism

Management, 27, 437-452.

2

Citation

Contents

Introduction

Literature Review

Methodology

Results

Conclusions3

I

II

III

VI

V

Introduction

4

Tourism marketing

Satisfaction

Service quality

Purposes

5

－To investigate the dimensionality of

consumer value in a travel-related context,

combining positive and negative inputs of

value

－To explore the relations between consumer

perceptual constructs such as perceived value,

satisfaction and loyalty

Contents

Introduction

Literature Review

Methodology

Results

Conclusions6

I

II

III

VI

V

Literature Review

In the early nineties, several authors interested

in service quality recognized that perceived

value at the very heart of consumers’ service

assessment.

(Cronin & Taylor, 1992)

7

Literature Review

Three waves of conceptual research

in the services marketing literature have been

recognized : service quality, customer

satisfaction and then perceived value.

(Cronin et al., 2000)

8

Contents

Introduction

Literature Review

Methodology

Results

Conclusions9

I

II

III

VI

V

Holbrook’s typology of consumer value

10

Self-oriented

Other-oriented

Active

Reactive

Active

Reactive

Extrinsic Intrinsic

Efficiency

Excellence

Status

Esteem

Play

Aesthetics

Ethics

Spirituality

Analytic Tool

11

Structural Equation Modeling

SEM

Principal Component Analysis

PCA

Confirmatory Factor Analysis

CFA

Participant

Spanish university students who travel in

groups during spring breakParticipants

Instrument 274 questionnaires

Age 23.16 years

Gender Male 50%

Female 50%

Destination The Caribbean (40.15%)

The Canary Islands (29.56%)

European cities (24.09%)12

Contents

Introduction

Literature Review

Methodology

Results

Conclusions13

I

II

III

VI

V

Results

14

Hypothesis

15

H1: Perceptions of benefits referred to

efficiency are positively related to

perceived value

H6: Perceptions of costs referred to

perceived monetary price are negatively

related to perceived value

H7: Perceptions of costs referred to

perceived risk are negatively related to

perceived value

16

Efficiency

Service

quality

Social

value

Play

Aesthetics

Time &

effort

spent

Perceived

valueSatisfaction Loyalty

-0.22

Hypothesis

17

H1: Perceptions of benefits referred to

efficiency are positively related to

perceived value

H6: Perceptions of costs referred to

perceived monetary price are

negatively related to perceived value

H7: Perceptions of costs referred to

perceived risk are negatively related

to perceived value

Hypothesis

18

H2: Perceptions of benefits referred to

service quality are positively related to

perceived value

H3: Perceptions of benefits referred to

play are positively related to perceived

value

H4: Perceptions of benefits referred to

aesthetics are positively related to

perceived value

H5: Perceptions of benefits referred to

social value are positively related to

perceived value

19

Efficiency

Service

quality

Social

value

Play

Aesthetics

Time &

effort

spent

Perceived

valueSatisfaction Loyalty

0.48 0.55

0.250.12

20

Efficiency

Service

quality

Social

value

Play

Aesthetics

Time &

effort

spent

Perceived

valueSatisfaction Loyalty

0.11

0.19

Hypothesis

21

H2: Perceptions of benefits referred to

service quality are positively related to

perceived value

H3: Perceptions of benefits referred to

play are positively related to perceived

value

H4: Perceptions of benefits referred to

aesthetics are positively related to

perceived value

H5: Perceptions of benefits referred to

social value are positively related to

perceived value

Hypothesis

22

H9: Perceived value is a direct antecedent

of customer satisfaction

H10: Customer satisfaction is a direct

antecedent of customer loyalty

23

Efficiency

Service

quality

Social

value

Play

Aesthetics

Time &

effort

spent

Perceived

valueSatisfaction Loyalty

0.45 0.50

Hypothesis

24

H9: Perceived value is a direct antecedent

of customer satisfaction

H10: Customer satisfaction is a direct

antecedent of customer loyalty

Contents

Introduction

Literature Review

Methodology

Results

Conclusions25

I

II

III

VI

V

Conclusions

26

This study evidenced that price policies are not

always the more prominent for consumers when

evaluating tourism experiences.

Conclusions

27

This study generally found that high quality affects

customer value perceptions, strengthen customer

satisfaction and intentions to repurchase and to

recommend.

Reflection

28

Address more specific insights into the relations

among perceptual constructs in a tourism

experience

No information was provided on the effect of

demographics and trip characteristics