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

JOURNAL OF TRAVEL RESEARCHAUGUST 2000 A Structural Analysis of Value, Quality, and Price Perceptions of Business and Leisure Travelers RAJIV KASHYAP AND DAVID C. BOJANIC Customer value has become the focus of firm strategies in cations, since facilities must cater to both business and lei- recent years. This study investigates the relationships be- sure travelers. For this purpose, we first discuss means-end tween travelers’ perceptions of value, quality, and price and theory (Gutman 1982; Reynolds and Gutman 1984), which their influence on travelers’ ratings of similar hotels and re- provides a basis for understanding the relationships between visit intentions in two segments, business and leisure travel- price, quality, and value. We then review the literature on the ers. The findings suggest that value plays a pivotal role in constructs of perceived price, quality, and value as pertinent travelers’ decision schema, emphasizing the need to shift ef- to this study. This is followed by a discussion of the empiri- forts from managing quality alone to managing customer cal part of the study including the methodology, results, and value. Differences in the value perceptions of business and limitations. We conclude by discussing the implications of leisure travelers emphasize the need to develop segment- our findings for theory and managers and provide some based strategies for managing price and quality. directions for future research. Customer value has become the focus of firm strategy in