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

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  • 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
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    Cited by:

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    2. 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.
    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. Yue Jiao & Yui-yip Lau & Jing Gao, 2024. "Exploring the factors affecting cruise passengers’ perceptions of value for money expressed in online reviews," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-11, December.
    5. 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.

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