Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium
Abstract
:1. Introduction
2. Literature Review
2.1. Experiential Value
2.2. Well-Being Perception
2.3. Price Premium
2.4. Relationships among Study Variables
2.5. Gender Difference
2.6. Proposed Model
3. Methods
3.1. Measurement and Questionnaire Development
3.2. Data Collection and Sample Profile
4. Results
4.1. Data Quality Testing
4.2. Hypotheses Testing
5. Discussion and Implications
6. Conclusions
Funding
Conflicts of Interest
Appendix A
Efficiency |
- This cruise trip is an efficient way to take my vacation. - This cruise trip makes my leisure life easier. - This cruise trip fits with my vacation schedule. |
Service Excellence |
- When I think of this cruise trip, I think of service excellence. - I think of this cruise brand as an expert in the cruise industry. - The cruise brand has my best interests at heart. |
Aesthetic Value |
- The ship was an attractive setting for my vacation. - The environment of the ship showed close attention to design details. - It was pleasant just being in the attractive cruise facilities. - I felt a real sense of harmony on the cruise ship. |
Playfulness |
- A cruise trip with this brand makes me feel cheerful. - I feel happy when I take a cruise trip with this brand. - A cruise trip with this brand makes me forget my troubles. |
Well-Being Perception |
- This cruise trip satisfies my overall travel needs. - This cruise trip plays a very important role in my social well-being. - This cruise trip plays an important role in my travel well-being. |
Price Premium |
- I am willing to pay a higher price for this cruise brand than for other cruise brands. - Even if other cruise brands are priced lower, I will still buy this cruise brand. - Even though this cruise brand seems comparable to other brands, I am willing to pay more to travel with this cruise brand. |
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CR | Cronbach’s Alpha | EF | SE | AV | PF | WP | PP | |
---|---|---|---|---|---|---|---|---|
EF | 0.862 | 0.809 | 0.822 | |||||
SE | 0.867 | 0.827 | 0.647 a | 0.828 | ||||
AV | 0.883 | 0.823 | 0.725 | 0.658 | 0.808 | |||
PF | 0.868 | 0.808 | 0.711 | 0.717 | 0.700 | 0.828 | ||
WP | 0.875 | 0.831 | 0.747 | 0.768 | 0.721 | 0.797 | 0.799 | |
PP | 0.857 | 0.853 | 0.525 | 0.657 | 0.552 | 0.590 | 0.611 | 0.816 |
Mean | 4.181 | 4.170 | 4.206 | 4.227 | 4.161 | 3.935 | ||
SD | 0.709 | 0.741 | 0.662 | 0.689 | 0.673 | 0.878 |
Hypothesis | Paths | Statement of Hypothesis | Coefficient (standardized) | Results |
---|---|---|---|---|
H1 | EF → WP | EF will have a positive impact on WP | 0.221 ** | Supported |
H2 | SE → WP | SE will have a positive impact on WP | 0.330 ** | Supported |
H3 | AV→ WP | AV will have a positive impact on WP | 0.131 * | Supported |
H4 | PP → WP | PP will have a positive impact on WP | 0.333 ** | Supported |
H5 | WP → PP | WP will have a positive impact on PP | 0.611 ** | Supported |
Paths | t-Value | Coefficient (standardized) | Results |
---|---|---|---|
(Step 1) | |||
EF → WP | 4.520 ** | 0.221 ** | Supported |
SE → WP | 6.491 ** | 0.300 ** | Supported |
AV → WP | 2.687 ** | 0.131 ** | Supported |
PF → WP | 6.575 ** | 0.333 ** | Supported |
(Step 2) | |||
EF → PP | 0.506 | 0.036 | Not supported |
SE → PP | 6.357 ** | 0.433 ** | Supported |
AV → PP | 1.749 | 0.125 | Not supported |
PF → PP | 2.227 * | 0.166 * | Supported |
(Step 3) | |||
EF→ PP | 0.134 | 0.010 | Not supported |
SE→ PP | 5.428 ** | 0.397 ** | Supported |
AV→ PP | 1.513 | 0.109 | Not supported |
PF→ PP | 1.574 | 0.126 | Not supported |
WP→ PP | 1.329 | 0.119 | Not supported |
WP | ||||||
---|---|---|---|---|---|---|
Step 1 | Step 2 | Step 3.1 | Step 3.2 | Step 3.3 | Step 3.4 | |
Independent Variable | ||||||
EF | 0.221 ** | 0.222 ** | 0.272 ** | 0.221 ** | 0.228 ** | 0.224 ** |
SE | 0.330 ** | 0.287 ** | 0.292 ** | 0.330 ** | 0.292 ** | 0.293 ** |
AV | 0.131 ** | 0.134 * | 0.144 * | 0.135 * | 0.178 ** | 0.135 * |
PP | 0.333 ** | 0.347 ** | 0.351 ** | 0.347 ** | 0.346 ** | 0.383 ** |
Gender | −0.059 | 0.324 | 0.153 | 0.262 ** | 0.192 | |
EF * Gender | −0.399 * | - | - | - | ||
SE * Gender | −0.220 | - | - | |||
AV * Gender | −0.333 | - | ||||
PP * Gender | −0.262 | |||||
R2 | 0.755 | 0.759 | 0.763 | 0.760 | 0.761 | 0.760 |
∆R2 | - | 0.003 | 0.004 | 0.001 | 0.002 | 0.002 |
PP | |||
---|---|---|---|
Step 1 | Step 2 | Step 3 | |
Independent Variable | |||
WP | 0.611 ** | 0.614 * | 0.561 ** |
Gender | −0.115 | −0.559 | |
WP * Gender | 0.457 | ||
R2 | 0.373 | 0.387 | 0.394 |
∆R2 | - | 0.013 | 0.008 |
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Yu, J. Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium. Sustainability 2019, 11, 3219. https://doi.org/10.3390/su11113219
Yu J. Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium. Sustainability. 2019; 11(11):3219. https://doi.org/10.3390/su11113219
Chicago/Turabian StyleYu, Jongsik. 2019. "Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium" Sustainability 11, no. 11: 3219. https://doi.org/10.3390/su11113219
APA StyleYu, J. (2019). Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium. Sustainability, 11(11), 3219. https://doi.org/10.3390/su11113219