IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v11y2019i11p3219-d238613.html
   My bibliography  Save this article

Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium

Author

Listed:
  • Jongsik Yu

    (Department of Hotel and Restaurant Management, Tongwon University, 26 Gyeongchung-daero, Gonjiam-eup, Gwangju 12813, Korea)

Abstract

The purpose of this study is to verify the willingness of customers of luxury cruises to pay for the perception of a well-being component and to pay a price premium based on the experiential value of luxury cruises. The following research objectives are presented and their resolution is subsequently pursued: first, the study distinguishes the various subordinate factors contributing to the experiential value of luxury cruises. Second, it aims to understand these subordinate factors’ impact on customers’ well-being perception. Third, the study aims to understand whether the customer is willing to pay a price premium based on his or her well-being perception. Fourth, it aims to verify the role of gender in the relationship between the perceived experiential value of luxury cruises and the proposed variables. Seven hypotheses were established to achieve these research objectives. Data collected from 273 luxury cruise customers were used. As a result, five hypotheses were accepted and two were rejected. In conclusion, the theoretical/practical implications that were proposed based on the results of the study are discussed in detail.

Suggested Citation

  • Jongsik Yu, 2019. "Verification of the Role of the Experiential Value of Luxury Cruises in Terms of Price Premium," Sustainability, MDPI, vol. 11(11), pages 1-15, June.
    • Handle: RePEc:gam:jsusta:v:11:y:2019:i:11:p:3219-:d:238613
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/11/11/3219/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2071-1050/11/11/3219/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Hwang, Jinsoo & Han, Heesup, 2014. "Examining strategies for maximizing and utilizing brand prestige in the luxury cruise industry," Tourism Management, Elsevier, vol. 40(C), pages 244-259.
    2. Heesup Han & Taeyeon Eom & Hyunah Chung & Soyeun Lee & Hyungseo Bobby Ryu & Wansoo Kim, 2019. "Passenger Repurchase Behaviours in the Green Cruise Line Context: Exploring the Role of Quality, Image, and Physical Environment," Sustainability, MDPI, vol. 11(7), pages 1-15, April.
    3. Powell, Melanie & Ansic, David, 1997. "Gender differences in risk behaviour in financial decision-making: An experimental analysis," Journal of Economic Psychology, Elsevier, vol. 18(6), pages 605-628, November.
    4. Tsu-Ming Yeh & Shun-Hsing Chen & Tsen-Fei Chen, 2019. "The Relationships among Experiential Marketing, Service Innovation, and Customer Satisfaction—A Case Study of Tourism Factories in Taiwan," Sustainability, MDPI, vol. 11(4), pages 1-12, February.
    5. Netemeyer, Richard G. & Krishnan, Balaji & Pullig, Chris & Wang, Guangping & Yagci, Mehmet & Dean, Dwane & Ricks, Joe & Wirth, Ferdinand, 2004. "Developing and validating measures of facets of customer-based brand equity," Journal of Business Research, Elsevier, vol. 57(2), pages 209-224, February.
    6. Charness, Gary & Gneezy, Uri, 2012. "Strong Evidence for Gender Differences in Risk Taking," Journal of Economic Behavior & Organization, Elsevier, vol. 83(1), pages 50-58.
    7. Figueroa-Domecq, Cristina & Pritchard, Annette & Segovia-Pérez, Mónica & Morgan, Nigel & Villacé-Molinero, Teresa, 2015. "Tourism gender research: A critical accounting," Annals of Tourism Research, Elsevier, vol. 52(C), pages 87-103.
    8. Miller, Karen W. & Mills, Michael K., 2012. "Contributing clarity by examining brand luxury in the fashion market," Journal of Business Research, Elsevier, vol. 65(10), pages 1471-1479.
    9. Heesup Han & Sunghyup S. Hyun, 2019. "Green indoor and outdoor environment as nature‐based solution and its role in increasing customer/employee mental health, well‐being, and loyalty," Business Strategy and the Environment, Wiley Blackwell, vol. 28(4), pages 629-641, May.
    10. Chen, Hung-Bin & Yeh, Shih-Shuo & Huan, Tzung-Cheng, 2014. "Nostalgic emotion, experiential value, brand image, and consumption intentions of customers of nostalgic-themed restaurants," Journal of Business Research, Elsevier, vol. 67(3), pages 354-360.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Melinda Jászberényi & Márk Miskolczi, 2020. "Danube Cruise Tourism as a Niche Product—An Overview of the Current Supply and Potential," Sustainability, MDPI, vol. 12(11), pages 1-22, June.
    2. Yeohyun Yoon & Kyoung Cheon Cha, 2020. "A Qualitative Review of Cruise Service Quality: Case Studies from Asia," Sustainability, MDPI, vol. 12(19), pages 1-24, September.
    3. Chatterjee, Sheshadri & Chaudhuri, Ranjan & Vrontis, Demetris, 2023. "Masstige marketing: An empirical study of consumer perception and product attributes with moderating role of status, emotion, and pride," Journal of Business Research, Elsevier, vol. 155(PA).
    4. Massoud Moslehpour & Ka Yin Chau & Alaleh Dadvari & Ben-Roy Do & Victoria Seitz, 2019. "What Killed HTC and Kept Apple Alive? Brand Sustainability Comparison of Two Asian Countries," Sustainability, MDPI, vol. 11(24), pages 1-22, December.
    5. Yue Jiao & Yui-yip Lau & Jing Gao, 2024. "Exploring the factors affecting cruise passengers’ perceptions of value for money expressed in online reviews," Humanities and Social Sciences Communications, Palgrave Macmillan, vol. 11(1), pages 1-11, December.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Yating Chuang & John Chung-En Liu, 2020. "Who wears a mask? Gender differences in risk behaviors in the COVID-19 early days in Taiwan," Economics Bulletin, AccessEcon, vol. 40(4), pages 2619-2627.
    2. Lotito Gianna & Maffioletti Anna & Migheli Matteo & Ramello Giovanni B., 2025. "Women in Piracy. Experimental Perspectives on Copyright Infringement," Review of Law & Economics, De Gruyter, vol. 21(2), pages 199-220.
    3. J. François Outreville, 2015. "The Relationship Between Relative Risk Aversion And The Level Of Education: A Survey And Implications For The Demand For Life Insurance," Journal of Economic Surveys, Wiley Blackwell, vol. 29(1), pages 97-111, February.
    4. Milner, Mattie & Rice, Stephen & Rice, Connor, 2019. "Support for environmentally-friendly airports influenced by political affiliation and social identity," Technology in Society, Elsevier, vol. 59(C).
    5. Michael Breen & Robert Gillanders & Gemma Mcnulty & Akisato Suzuki, 2017. "Gender and Corruption in Business," Journal of Development Studies, Taylor & Francis Journals, vol. 53(9), pages 1486-1501, September.
    6. Jongsik Yu & Junghyun Park & Kyeongheum Lee & Heesup Han, 2021. "Can Environmentally Sustainable Development and Green Innovation of Hotels Trigger the Formation of a Positive Brand and Price Premium?," IJERPH, MDPI, vol. 18(6), pages 1-14, March.
    7. Maria Strydom & Amale Scally & John Watson, 2019. "Impact of mood and gender on individual investors’ reactions to retractions and corrections of earnings forecasts," Applied Economics, Taylor & Francis Journals, vol. 51(9), pages 941-955, February.
    8. Husam Aldamen & Janice Hollindale & Jennifer L. Ziegelmayer, 2018. "Female audit committee members and their influence on audit fees," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 58(1), pages 57-89, March.
    9. Zona, Fabio & Pesci, Caterina & Zamarian, Marco, 2024. "CEO risk preferences in family firms: Combining socioemotional wealth and gender identity perspectives," Journal of Family Business Strategy, Elsevier, vol. 15(2).
    10. Julie A. Nelson, 2015. "Are Women Really More Risk-Averse Than Men? A Re-Analysis Of The Literature Using Expanded Methods," Journal of Economic Surveys, Wiley Blackwell, vol. 29(3), pages 566-585, July.
    11. Skała, Dorota & Weill, Laurent, 2018. "Does CEO gender matter for bank risk?," Economic Systems, Elsevier, vol. 42(1), pages 64-74.
    12. Sattar, Mahnoor & Biswas, Pallab Kumar & Roberts, Helen, 2022. "Board gender diversity and firm risk in UK private firms," Global Finance Journal, Elsevier, vol. 54(C).
    13. Veerawin Korphaibool & Pongsapak Chindasombatcharoen & Pattanaporn Chatjuthamard & Pornsit Jiraporn & Sirimon Treepongkaruna, 2024. "Business sustainability under the influence of female directors toward the risk‐taking in innovation: Evidence from textual analysis," Business Strategy and the Environment, Wiley Blackwell, vol. 33(3), pages 1578-1591, March.
    14. J. Samuel Baixauli-Soler & Maria Belda-Ruiz & Gregorio Sanchez-Marin, 2017. "An executive hierarchy analysis of stock options: Does gender matter?," Review of Managerial Science, Springer, vol. 11(4), pages 737-766, October.
    15. Luís Pacheco & Júlio Lobão & Sílvia Coelho, 2023. "Gender and Risk Aversion: Evidence from a Natural Experiment," Games, MDPI, vol. 14(3), pages 1-16, June.
    16. Andrews Owusu & Alaa Mansour Zalata & Kamil Omoteso & Ahmed A. Elamer, 2022. "Is There a Trade-Off Between Accrual-Based and Real Earnings Management Activities in the Presence of (fe) Male Auditors?," Journal of Business Ethics, Springer, vol. 175(4), pages 815-836, February.
    17. Chadi, Cornelia & Jirjahn, Uwe, 2024. "Does society influence the gender gap in risk attitudes? Evidence from East and West Germany," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 113(C).
    18. Banerjee, Debosree, 2014. "Ethnicity and Gender Differences in Risk, Ambiguity Attitude," GlobalFood Discussion Papers 180978, Georg-August-Universitaet Goettingen, GlobalFood, Department of Agricultural Economics and Rural Development.
    19. Hyewon Kong & Seungyoup Choo, 2022. "Gender Differences in the Relationship Between Achievement Motivation and Entrepreneurial Intention: A Conditional Process Model of Entrepreneurship and Gender," SAGE Open, , vol. 12(2), pages 21582440221, May.
    20. Pourazad, Naser & Stocchi, Lara & Pare, Vipul, 2019. "Brand attribute associations, emotional consumer-brand relationship and evaluation of brand extensions," Australasian marketing journal, Elsevier, vol. 27(4), pages 249-260.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;
    ;
    ;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:gam:jsusta:v:11:y:2019:i:11:p:3219-:d:238613. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.