Value dimensions, perceived value, satisfaction and loyalty: An investigation of university students’ travel behaviour

Presenter: Catherine WuInstructor: Dr. Pi-Ying Teresa HsuDate: 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

ParticipantSpanish university students who travel in groups during spring break

Participants

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 valueH6: Perceptions of costs referred to perceived monetary price are negatively related to perceived valueH7: 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 value

Satisfaction

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 value

Satisfaction

Loyalty

0.48 0.55

0.250.12

20

Efficiency

Service quality

Social value

Play

Aesthetics

Time & effort spent

Perceived value

Satisfaction 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 value

Satisfaction 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.

29