THE EFFECT OF BRAND CLASS, BRAND AWARENESS, AND PRICE ON CUSTOMER VALUE AND BEHAVIORAL INTENTIONS

Transcription

1 Oh I CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 137 THE EFFECT OF BRAND CLASS, BRAND AWARENESS, AND PRICE ON CUSTOMER VALUE AND BEHAVIORAL INTENTIONS Haemoon Oh Iowa State University The author introduces a comprehensive customer value framework and tests an extended value model with lodging products. The extended value model in this study newly incorporates the concepts of brand awareness, as compared to brand or product class, and price fairness. Based on Baron and Kenny's guideline for mediation analysis, this study found the traditional customer value process to be usefulfor lodging research and marketing. In addition, brand awareness and price fairness concepts were found to play significant roles in the customer value process. The article includes discussions on both managerial and research implications. KEYWORDS: customer value; brand; price; purchase; quality; consumer behavior; lodging. Recently, the concept of customer value has drawn increasing attention from both industry executives and marketing academics as a barometer of long-term business performance (e.g., Reichheld, 1993; Slater, 1997; Woodruff, 1997). Characterized by slow growth and intense competition, today's marketplace continues burdening firms in deriving new, as well as repeat, purchases. Along with these business conditions, companies' need to understand consumer behavior becomes more desperate than ever before. The concept of customer value focuses on the aspects of consumer purchase decision making that have not been considered by other similar thought paradigms, such as the widely adopted consumer satisfaction or service quality model (see Iacobucci, Grayson, & Ostrom, 1994; Oh & Parks, 1997; Yi, 1990). By offering new insight into consumer behavior surrounding price-quality trade-offs, customer value may unveil deep-seated driving forces of purchase decisions and brand loyalty. Development of new theories to understand how consumers make their decisions is also important to the hospitality industry. In recent years, customer brand Author's Note: This research was funded by Iowa State University's Special Research Initiation Grants. The author wishes to thonk Nancy Brown, Roy Teas, Miyoung Jeong, and Mary Gregoire for their helpful comments on many aspects in the research process. Journal of Hospitality & Tourism Research, Vol. 24, No.2, May 2000, 2000 International Council on Hotel, Restaurant and Institutional Education 136 loyalty has been seriously diluted in the lodging industry because of, in part, 50 to 60 new brands that entered the existing competition (Worecester, 1999). Compared to the 1997 figure, an additional 10% of business travelers expressed their willingness to switch brands, and overall 45% ofleisure travelers are threatening to try different lodging brands despite their satisfaction with the brand they tried (Worecester, 1999). The lodging industry has also experienced declining customer satisfaction levels and return rates (Hill, 1998; Worecester, 1999). Accordingly, industry executives continue to emphasize customer loyalty as a key to sustaining long-term business success (Nozar, 1999). Such industrial developments suggest that customer satisfaction alone may not be a sure promise of repeat business and, at the same time, that lodging marketers need additional understanding of changing consumer behavior. Although several hospitality researchers have recently attempted to examine the feasibility of customer value as an alternative concept to build a long-term business performance in the lodging industry (e.g., Bojanic, 1996; Jayanti & Ghosh, 1996; Mattila, 1999; Oh, 1999), their efforts were largely exploratory providing somewhat limited perspectives on the value process. Further efforts are needed to develop hospitality-specific theories of customer value and consumer behavior in general (Bowen & Sparks, 1998; Oh & Parks, 1997). The present study reports the results of an experiment that was designed to test a modified customer value theory in the lodging industry. Considering the need of introductory work on customer value in the hospitality literature, this study tested the general applicability of value theory with lodging products across high- and low-end markets, as well as famous chain and unknown independent operations. The investigation also focused on assessing the predictive validity of customer value in imminent purchase decisions. The basic customer value theory (Dodds & Monroe, 1985; Dodds, Monroe, & Grewal, 1991; Monroe & Chapman, 1987) was modified according to the conceptual work by Martins and Monroe (1994) and to lodging-specific factors such as multibranding and yield pricing strategies. General theses of customer value are reviewed, and research hypotheses are developed next. A web-based experimental study is introduced, along with the logic of hypothesis test and study results. Finally, this study concludes with discussions on managerial and research implications. Concept of Customer Value THEORY OF CUSTOMER VALUE To date, an exact definition of customer value has been elusive to researchers. The ambiguity of customer value is well reflected in various definitions given by researchers. Zeithaml (1988) provides one of the most widely cited definitions of customer value as "the consumer's overall assessment of the utility of a product based on perceptions of what is received and what is given" (p. 14). This definition is highly abstract and encompassing, implying that value judgments are something more than mere price-quality comparisons. Monroe's (1990) definition gives a more concrete view of customer value, in that "buyers' perceptions of value represent a tradeoff between the quality or benefits they perceive in the

2 138 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 139 product relative to the sacrifice they perceive by paying the price" (p. 46). Because of the rather focused conceptualization, this definition is highly operationalizable, as has been shown by Monroe and colleagues (e.g., Dodds et al., 1991; Grewal, Monroe, & Krishnan, 1996, 1998; Monroe & Chapman, 1987). Consider here another definition of customer value as "a customer's perceived preference for and evaluation of those product attributes, attribute performances, and consequences arising from use that facilitate (or block) achieving the customer's goals and purposes in use situations" (Woodruff, 1997, p. 142). Notably, this later definitional effort dropped a comparative nature of the value process that had been a key element in definitions by other 'researchers. Many other researchers still hold somewhat different views of customer value (e.g., Butz & Goodstein, 1996; Fornell, Johnson, Anderson, Cha, & Bryant, 1996; Gale, 1994). Although it is difficult to reconcile different definitions of customer value into a single verbiage, a close look at them seems to suggest several common threads of the value concept. First, value judgments in marketing contexts are largely a subjective, cognitive (and potentially emotional) evaluation given to a target purchase. Second, the subjective, cognitive evaluation is relativistic in that it reflects the outcome of dynamic comparison processes in consumption situations. Third, the comparison process focuses on, from the consumer's standpoint, (a) financial investment or sacrifice as the "give" component and (b) benefits or quality as the "take" component. These two components seem to serve each other as interactive comparison standards that are dynamic across consumption situations. Finally, the value concept is likely to be, in factor analysis terms, multidimensional at the level of overall assessment. For example, Grewal et al. (1996; Grewal, Monroe, & Krishnan, 1998) showed, relying on Thaler's (1985) economic utility theory, that consumers' overall value judgments could be summarized by two dimensions: acquisition and transaction values. Antecedents of Customer Value The majority of previous customer value studies have focused on identifying the determinants of value perceptions. A converging theory is that consumers perceive product/service quality based on their purchase experience or information given in marketers' ads, and compare the quality perceptions to the sacrifice they have made for the purchase (Dodds et ai., 1991; Grewal et ai., 1996; Grewal, Monroe, & Krishnan, 1998; Monroe & Chapman, 1987; Rao & Monroe, 1989). The results of this cognitive comparison then form into value judgments. Consumers' value perceptions are enhanced with increasing levels of quality they perceive and lowered with increasing levels of sacrifice they feel. Although empirical investigations support this linear relationship (Dodds et ai., 1991; Zeithaml, 1988),whether the influence of both determinants (i.e., quality and sacrifice) is symmetric is unclear. In the traditional value framework, perceived quality serves as a mediator of the effects of many extrinsic cues on perceived (or customer) value (see Jacoby, Olson, & Haddock, 1971; Szybillo & Jacoby, 1974; Valenzi & Andrews, 1971). Consumers' judgments of quality, for example, are likely to be affected by the quality suggested by such extrinsic cues as brand name and price (Dodds et al., 1991; Zeithaml, 1988). Consumers tend to infer product quality from extrinsic cues, particularly when they have limited product knowledge or limited product familiarity (Rao & Monroe, 1988). Researchers have also identified brand name, price, store name/image, and country of origin as extrinsic cues to quality perceptions (Curry & Riesz, 1988; Dodds et ai., 1991; Rao & Monroe, 1989; Teas & Agarwal, 1997; Wheatley & Chiu, 1977; Zeithaml, 1988). Although most extrinsic cues are directly related to quality perceptions, that is, they affect value perceptions only through quality judgments, price has been found to affect both quality and value perceptions through high levels of internalized price impressions. Consumers first encode the product price as evaluated information, based on a reasonable-expensive continuum, and then infer product quality from the price information. The objective product price becomes meaningful to the consumer only when it receives the consumer's subjectiveinterpretation. Reviews of the related literature found a positive link between perceived price and'quality (Monroe & Krishnan, 1985; Rao & Monroe, 1988). The importance of price as a quality cue was also found to have an inverse association with prior knowledge and product familiarity (Rao & Monroe, 1988), and becomes diminished at the availability of other quality cues such as brand name and store image (Bonner & Nelson, 1985; Dodds et ai., 1991; Olson, 1977). Conceptual efforts have further shown that the evaluated,price is stored into memory as a deficit (i.e., perceived financial sacrifice) and elicited as a comparison standard against quality perceptions when consumers make value judgments (Dodds & Monroe, 1985; Zeithaml, 1988). Thus, the mental trade-off between price and quality occurs at a high level of internal representation in a way meaningful to the consumer. Perceived price is positively associated with perceived financial sacrifice, which, in turn, is inversely related to value perceptions. Although researchers have conceptualized perceived sacrifice as a concept that captures not only financial sacrifice but also other psychological and behavioral investments in the purchase, the concept's operationalization has been limited to financial sacrifice induced largely by the product price (e.g., Teas & Agarwal, 1997). Consequences of Customer Value Although researchers have shown extensive efforts on conceptualizing and testing the antecedents of customer value, their examination of its consequences has been limited mostly to purchase intention (e.g., Dodds et ai., 1991; Grewal, Krishnan, Baker, & Borin, 1998; Monroe & Chapman, 1987). More recently, Grewal et al. (1996, 1998) and Sirohi, McLaughlin, and Wittink (1998) incorporated search intention and store loyalty into their conceptual model of customer value. When perceiving high levels of value from a pending purchase, consumers tend to express high levels of willingness to buy eventually and low levels of willingness to look for alternative purchases. Questions, however, still remain whether these relationships would hold to the same extent for differing levels of purchase involvement. That is, a high level of purchase involvement is likely to weaken the relationships. For example, at the presentation of an expensive cruise-trip package product, consumersmay feel high levels of value and yet want

3 140 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 141 to examine other similar package products to assure an infonned decision. Thus, the level of purchase invplvementmay moderate the value-purchaseintention and value-search intention relationships. Most previous studies have examined the relationships under relatively low to moderate purchase involvement situations. Customer satisfaction is another potential consequence of value perceptions. In particular, when recognizing high levels of value in product and service offerings, consumers are likely to feel positive about their consumption experience. Oh (1999) showed this plausibility in his study of consumers' short-tenn evaluations of lodging experience. In the long-tenn context, too, Fornell et ai. (1996) evidenced that market satisfaction, repurchase intention, and switching behavior were consequences of customer value. Nonetheless, the consequences of customer value lack theoretical elaboration and await further empirical validation. RESEARCH HYPOTHESES The present study examined the validity of the customer value model in a slightly modified fonn. The modification included testing the usefulness of two widely adopted concepts within the value framework: brand awareness and price fairness. Figure 1 presents the conceptual model that guided this research. In the figure, the signs (+/-) and arrpws indicate the direction of the hypothesized relationship among the eight key constructs. Although research focused on product marketing situations has suggested that such variables as store name and country of origin could be extrinsic cues to perceived quality, this study focused on brand effects (Le., brand class and brand awareness) for two reasons. First, in general, the distribution channels (e.g., travel agencies) oflodging product does not playas significant a selling role as those (e.g., retail stores) in product marketing. Second, the effect of country name in the lodging industry is unclear, requiring perhaps another full-scale preparatory study. The effect of brand name in this study is partitioned into two separate effects: brand class and brand awareness. For purposes of this study, brand class refers to the level of product quality as can be shown in such product categorization as upscale, midscale, and budget. refers to the degree of name recognition, regardless of product class but based on perceptual frequency (Hellofs & Jacobson, 1999). In the lodging industry, for example, famous luxury hotel chains, such as Ritz Carlton and Four Season, may have a brand-name image of high product class as well as wide recognition. However, some motel chains, such as Super 8 and Econo Lodge, seem to have a brand reputation based on wide recognition rather than an image of high product class. Thus, using brand name without the distinction between brand awareness (or recognition) and brand class may cause confounding effects and consequently reduce the value of strategic suggestions derived from the study. Both brand class and brand awareness are likely to have a positive influence on quality perception~. In the lodging industry, where both product and service can become important qu~ity cues, product differentiation is easily noticeable to the consumers' eyes. Thus; a brand with an image of high product quality is likely to induce a high level of quality perceptions (Dodds et ai., 1991; Teas & Agarwal, Figure 1 A Conceptual Model of Brand and Effects on Perceived Quality, Fairness, Perceived Value, and Purchase and Search Intention Brand Class Brand Awareness. I H1(+) I H3(+) I H2(+) Hs(+) Hk [V Perceived Quality L ---I H6(+) Fairness I H7(+) :Hg(+ H8(-) Customer Value H10(+) H11(-) Purchase Int~ntion Search Intention 1997). In addition, consumers are likely to buy, especially when lacking product familiarity, popular brands because they "incur psychological benefits from using brands that are popular" (Hellofs & Jacobson, 1999, p. 16, italics added). An example is market share that has a positive relationship with consumers' perceptions of quality. Carminal and Vives (1996) argued that consumers interpret a higher market share as a signal of higher relative quality leading to future demand. Here, market share can be interpreted as brand awareness at the aggregate level of consumer brand perceptions. Hence, Hypothesis 1: Perceived brand class (or product class) is positively associated with perceived quality. Hypothesis 2: Perceived brand awareness is positively associated with perceived quality. The price-quality relationship has been a frequent research question in the marketing literature. When judging product/ service quality, consumers are known to rely on numerous cues such as brand name and price. as a signal of quality is particularly likely when the consumer is relatively unfamiliar with the focal product or when the consumer has little experience with or knowledge about the target product (Rao & Monroe, 1988). The relationship was also found to be additive (Levin & Johnson, 1984) and synchronous over time (Curry & Riesz, 1988). Hypothesis 3: is positively associated with perceived quality. perception is essentially a comparative process (Monroe & J;>etroshius, 1981). Infonned of the price of the focal product, consumers are likely to interpret the price with reference to their internal price standard or competing prices. This

4 142 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh I CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 143 comparative evaluation gives rise to the concept of price fairness. According to Martins and Monroe (1994), the price fairness construct may capture the evaluated feeling consumers would have about the focal price. Sirohi et ai.'s (1998) conceptual work illustrates how this relative price evaluation affectsconsumer de~ cision making in a retail setting. Consumer perceptions of price fairness is likely to be a combined function of price, brand awareness, and perceived quality. Following Zeithaml (1988, p. 3), perceived quality in this study is defined as the consumer's judgment about the product's overall excellence or superiority. For an equal level of perceived quality, a lower product price is compared to internal reference price more favorably (positive fairness), whereas a higher price compares more negatively (negative fairness). Note here that internal reference price is viewed as a stable cognitive reference point for the product category under consideration (Klein & Oglethorpe, 1987; Urbany, Bearden, & Weilbaker, 1988). Therefore, Hypothesis 4: is inversely associated with price faimess. is also likely to contribute to consumer perceptions of price fairness. When the consumer is well aware of the popularity ofthe product, that brand awareness helps the focal price fair positively with alternative prices or the internal reference price. In contrast, a brand name unknown to the consumer is likely to mitigate the comparability of the focal price to alternativeprices, thereby fairing negatively with the internal reference price. Furthermore, based on tl).eir impressions with brand popularity and brand class, consumers form corresponding perceptions of quality that, in turn, influence perceptions of price fairness., therefore, not only improves consumer perceptions of price fairness directly, but it also exerts its influence on price fairness through quality perceptions. Hypothesis 5: is positively associated with price faimess. Hypothesis 6: Perceived quality is positively associated with price faimess. Consumer value perceptions are a result of the trade-off between product quality and price-based perceptions of consumer sacrifice (Dodds et al., 1991; Monroe & Chapman, 1987). Customer value is positive when perceptions of quality are greater than the perceptions of financial sacrifice, or vice versa. tends to counteract quality perceptions toward customer value judgments, whereas price fairness perceptions tend to enhance value judgments. Lodging industry consultants also observe that price and value are negatively correlated (Shifflet & Bhatia, 1997). Hypothesis 7: Perceived quality is positively associated with perceived value. Hypothesis 8: is inversely associated w~th perceived value. Hypothesis 9: fairness is positively associated with perceived value. Two consequences of customer value are investigated in this study: purchase intention and search intention. Researchers have examined purchase intention frequently and found it to be an important consequence of value perceptions (e.g., Dodds et ai., 1991; Teas & Agarwal, 1997). Also found in the lodging industry was a positive value-loyalty relationship (Shifflet & Bhatia, 1997). Consumers perceiving high product quality and price fairness tend to buy the product eventually. However,consumers will try to avoid buying the product or be likely to look for an.alternative product (i.e., search intention) when they do not perceive much quality relative to the price charged (Grewal et ai., 1996). As such, the higher customer value perceptions, the higher their intention to buy the product, and the lower their intention to search for alternative products. Hypothesis Hypothesis 10: Customer value is positively associated with purchase intention. 11: Customer value is inversely associated with search intention. In summary, the proposed conceptual model (see Figure 1) builds on the findings of the customer value process in previous research. Newly featured in this study are mainly two sets of modifications. First, the effects of brand name were partitioned into brand cl~ss and brand awareness effects, and they are separately related to perceived quality and price fairness. Another important feature is that this study empirically tested the role of price fairness within the existing customer value framework. The effects of price and price fairness on customer value are separately assessed in the same value framework. The proposed model further incorporates the recent conceptual work by Grewal et ai. (1996) on searchintention as a consequence of customer value perceptions. Overview AN EXPERIMENTALSTUDY This study choseanexperimental approach to test the causal hypotheses of the proposed model for several reasons (Kerlinger, 1992). First, an experiment could provide relatively good control over the many extraneous influences that could affect the independent and dependent variables. Second, because this study aimed, in part, to explore the role of two new variables (i.e., brand awareness and price fairness), related experimental manipulations could provide a high degree of specificity in the operational definitions of these variables. Additionally, an experiment could allow a relatively high degree of precision in both measurement and outcome, which was desirable in this introductory work. The experiment was conducted electronically by having undergraduate students evaluate eight web sites that contained different treatment levels of the three exogenous variables (see below). The experimental treatments were developed based on pilot studies and discussions with 23 undergraduate students and 4 faculty members who were not included in the actual sampling. The student volunteers served as a pretest sample, whereas the faculty members served as expert reviewers. Upon a series of revisions based on the pretest and reviews, the actual sample evaluated a randomly assigned web site and provided responses via systemized electronic mail. The length of participation was approximately 25 minutes. All participants were offered U.S.$5 for their cooperation.

5 144 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 145 Design of the Study The experiment was a 2 x 2 x 2 quasi-between-subject complete factorial design. The three exogenous factors each had two treatment levels, namely, high and low. Table 1 shows the manipulation plan, and sample manipulations appear in Appendix A. Specifically, brand awareness was manipulated based on name recognition. Known names, Marriott and Motel 6, were used for the high brand awareness level, whereas hypothetical names, Central Park Hotel (hereafter referred to as Central Park) and Roadside Motel (hereafter Roadside) were used for the low level of brand awareness. The product description (a) between Marriott and Central Park and (b) between Motel 6 and Roadside was matched so that the first pair (Le.,Marriott/ Central Park) could reflect the upscale lodging market and the latter pair (Le., MoteI6/Roadside) reflect the budget-economy category. This upscale-budget market classification followed closely the classification scheme given by Henricksen and Rushmore (1997). In this way, the study results could be generalized to both the upscale and budget category lodging industry. was manipulated based on brand image and product quality. The names Marriott and Central Park were used for the high brand class, whereas Motel 6 and Roadside were used for the low counterpart. Because this experiment was essentially a between-subject design, product descriptions for manipulation effects remained unchanged across Marriott and Central Park and across Motel 6 and Roadside. Instead, data were aggregated in different ways to achieve desired brand awareness and brand class effects. This method enhanced overall design efficiency by simultaneously manipulating brand awareness and brand class effects. Finally,price was manipulated by daily room rates posted for hypothetical reservations (Oh, 1999). The room rates for Marriott and Central Park were U.S.$350 for the high treatment and U.S.$110 for the low treatment levels, respectively. For Motel 6 and Roadside, room rates ofu.s.$80 and U.S.$21 were used to derive desired high-low manipulation effects. To enhance realism (Schwartz, 1999), the context of reservation situations was vlj!ied across the upscale and budget category products, because it was thought that upscale and budget products could serve different lodging-related needs (see Appendix A). In addition, the high price levels for both product categories wer~ quoted from the actual web sites of Marriott and Motel 6, and the low levels were determined by the pretest results. A web site experimentation was chosen for several reasons. First of all, reservations via the Internet is becoming an important source of lodging business today. According to the Travel Industry Association's 1998 Technology and Travelreport, nearly 34million American travelersused the Internet to help plan a trip in 1998 and 6.7 million of them made reservations online ("Front Desk," 1999).As such, a total of eight web sites were developed and posted on the Internet for access by the selected respondents. Each web site contained two pages. The first page provided a reservation situation (see Appendix A), a treated description of a lodging product, and price information. The second (Le., linked) page measured specific model constructs, along with a few demographic questions. Also included ~t the end of the questionnaire was the 20-item Personal Sample Product Marriott Hotel Central Park Hotel Motel 6 Roadside Motel Table 1 ExperimentalTreatment Plan Involvement Inventory to check the level of response involvement (Zaichkowsky, 1985). The sample for this study was 263 nonhospitality undergraduate students randomly drawn from the directory of a large university, with a response rate of 32.9%. Hospitality students were excluded to avoid potential education bias for the products under examination. Although active lodging customers would be ideal, several reasons supported use of student sample. First, because a betweensubject design was deem~d appropriate for the tests of hypotheses, a relatively homogeneous sample was desired. Second, the study results could be more valid by minimizing potential experience effects, which led to choosing relatively novice consumers for the focal products. Third, the overall experiment focused on information processing, for which a student sample could provide useful insights. Students also are likely to be active Internet users in the future for hotel reservations. A total of 800 students were contacted via containing a description about the study, and an equal number of students (100) were assigned randomly to one of the eight web sites. Students who did not respond at the first notice received up to two additional reminders about the study. Of the 263 participants, 129 were male and the sample mean age was 22.6 with the median of21. The majority of the sample (65%) indicated that they have never stayed in a hotel/motel similar to the one described in the treatment condition. Measurement Except for search intention, all other constructs were measured with multiple items by closely following previous studies reviewed earlier (e.g., Bearden, Kaicher, de Borrero, & Urbany, 1992; Dodds et al., 1991; Grewal et ai., 1996). The specific scales appear in Appendix B. The manipulation effects of the three exogenous variables, price fairness, and perceived customer value were 5-item measures using 7-point rating scales. Perceived quality was measured with 6 items using again 7-point scales. Purchase intention was measured with 4 items, 3 of which were anchored on 7-point rating scales and the other on an ll-point probability scale. Finally, search intention was a single item measure using a 7-point scale. Analysis Brand Awareness Brand Class (U.S. dollars) High High High (350), Low (110) Low High High (350), Low (110) High Low High (80), Low (21) Low Low High (80), Low (21) The overall analysis method was based on Baron and Kenny's (1986) suggestions for mediation analysis. Because the proposed model contained hypothe-

6 146 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 147 sized direct, as well as indirect, linear effects, mediation analysis using regression models was deemed an appropriate approach. Although Baron and Kenny illustrated mediation analysis using a case of single measures of the independent, mediator,.and dependent variables, their procedure can be generalized, without losing information, to multivariate data analysis as follows: 1. Regress the mediators on the independent variables. 2. Regress the dependent variables on the independent variables. 3. Regress the dependent variables on both the independent variables and mediators. Following Baron and Kenny (1986), the independent variables in the first two models are expected to show statistical significance. The third model is expected to show the insignificance of the independent variables and significance of the mediator variables. A total of eight regression models were estimated to test the proposed hypotheses. First, the perceived quality equation is PQ =~o+ ~IBC + ~2BA + ~y4p + E, (1) where PQ =perc~ived quality, BC =brand class (as measured by multiple items to check manipulation effects), BA =brand awareness (as measured by multiple items to check manipulation effects), AP =price treatment (actual prices used for manipulations), 13 =regression coefficients, and E =error term. Although dummy codes could be used for BC and BA to test the high-low treatment effects, this study used the quantitative measures that were used to check manipulation effects to improve precision in parameter estimates. Parallel analyses with dummy codes for these variables produced essentially identical results. Hypotheses 1, 2, and 3 suggest that parameters 131'132'and 133should be statistically significant and their signs positive. The price fairness equation is PF =~o+ ~IBC + ~2BA + ~y4p + ~4PQ + E, (2) where PF =price fairness and the other variables are as defined in Equation 1. Hypotheses 5 and 6 suggest that 132 and 134 are statistically significant and positive, while Hypothesis 4 suggests that 133is significant and negative. The proposed model also suggests that I1!hould be insignificant because brand class affects price fairness only indirectly through perceived quality. Two customer value equations are estimated. The first equation is the regression of customer value on the three exogenous variables only, and the second on both the three exogenous and two mediator variables. CV= ~o + ~IBC + ~2BA + ~y4p + E (3) CV = ~o + ~IBC + ~2BA + f3y4p - + ~4PQ + ~5PF + E, (4) where CV =customer value, and the other variables are as defined in Equations 1 and 2. Equation 3 must show that 131,132' and 133are significant. Hypotheses 7 and 9 suggest that 134 and 135are significant and positive, whereas HYpothesis 8 suggests that 133is significant and negative in Equation 4. It is also expected that 131 and 132 are insignificant, and that 133is weaker in Equation 4 than that in Equation 3 (see Figure 1). Based on the same logic, two purchase intention equations are straightforward. PI =~o + ~IBC + ~2BA + ~y4p + ~4PQ + ~5PF + E (5) PI =~o+ ~IBC + ~2BA + ~0P + ~4PQ + ~5PF + ~6CV + E, where PI =purchase intention and the other variables are as defined earlier. Only 133'134,and 135are expected to be significant, with 133 being negative and 131 and 132 are expected to be insignificant in Equation 5. Hypothesis 10 and Figure 1 suggest that only 136 is significant ;lodpositive in Equation 6, and all the other variable parameters are insignificant. Finally, the specification of search intention equations is identical to that of purchase intention: where SI =~o + ~IBC + ~2BA + ~y4p + ~4PQ + ~5PF + E (7) SI =~o + ~IBC + ~2BA + ~y4p + ~4PQ + ~5PF + ~6CV + E, (8) SI =search intention and the other variables are as defined earlier. Consequently, the expected parameter significance is the same as was in Equations 5 and 6. However, Hypothesis 11 suggests that 136 is significant and negative. Data Quality RESULTS Descriptive statistics of the variables appear in Table 2. The mean values ranged from 3.96 for price perceptions to 5.35 for perceived quality, and the standard deviations ranged from 1.10 for perceived customer value to 2.16 for brand awareness. Because the high and low levels of each variable were aggregated across samples, the mean value range was somewhat as expected. The standard deviation range also suggested that each variable had sufficient variation for subsequent hypothesis tests. Cronbach's alpha of reliability ranged from.85 to.97, indicating that the multiple items of each variable consistently measured the purported construct. Because one of the study objectives was to explore the role of brand awareness and price fairness within the existing value framework, it was desired that these variables were discriminated from similar constructs examined by other researchers. To this end, a common factor analysis (Maxwell, 1977) was employed to see (6)

7 148 JOURNAL OF HOSPITALITY& TOURISM RESEARCH.Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 149 a. Three items were measured on a 7-point scale, whereas one item was measured on an 11-point scale. These findings are consistent with Baron and Kenny's (1986) mediational condiwhether (a) brand awareness could be discriminated from brand class and (b) price fairness from perceived price used in this study to check the effects of price manipulation (see Appendix B for specific scales). Based on an eigenvalue criterion of one and a varimax rotation, the factor analysis of 10brand class and brand awareness items demonstrated a clear two-factor structure. The 5 brand class items loaded on one factor (R2 =.48; the range of factor loading = ), whereas the 5 brand awareness items loaded on the other (R2 =.37; the range of factor loading = ). Similarly, the factor analysis of 10 price perception and fairness items resulted in a distinct two-factor structure, with the 5 price perception items loading on one factor (R2 =.60; the loading range = ) and the 5 price fairness items loading on the other (R2 =.22; the loading range = ). These results provided partial evidence of discriminant validity for the newly introduced variables and scales. Manipulation Check The effects of manipulation were checked using MANOVAs based on the five measurement items of brand awareness, brand class, and price. Table 3 presents the results, along with cell mean scores and sample sizes. Because data were aggregated across brand awareness and product (brand) class, the cell sizes ranged from 114 to 146. As expected, the manipulation of the three exogenous variables produced desired treatment effects that were statistically significant (Wilks's').. = , p <.001). ResponseInvolvement Table 2 Descriptive Statistics (N = 263) Model Variable Scale Number of Items a. M SD Endogenous Perceivedquality fairness Perceivedvalue Purchase intention 1-7, , Search intention NA Exogenous Reasons, such as use of student sample, voluntary participation at distance, and hypothetical purchase situation, could cause weak response involvement and lower overall face validity of the study results. Thus, this study included Zaichkowsky's (1985) Personal Involvement Inventory (PH) to check response integrity. The PH is a 20-item bipolar adjective scale designed to measure consumer involvement in product evaluations, and was found to be reliable and valid Note: The High and Low columns indicate the cell mean value, and the cell size is in parentheses. for gathering information about brands, brand preferences, product categories, and comparison of product attributes among brands. The reliability of the 20 items in this study was.96 and the involvementscore was95.34, which was in the high involvementcategory according to Zaichkowsky's two-group classification. Regression Results Table 3 Results of Multivariate Manipulation Check ManipulatedVariable High Low Wilks's A. df n p Value 5.85 (146) 3.50 (116) (135) 2.52 (125) (142) 2.89 (114) Prior to mediation analyses, further consideration was givento potential interaction effects of the three. exogenous variables. To this end, a MAN OVA was run with the three exogenous variables and their interaction terms as the independent variables and all the endogenous variables as the dependent variables. The results in Table 4 showed that the two-way and three-way interactions of the exogenous variables were not statistically significant (p >.05), indicating that they did not affect the endogenous variables in general. Therefore, these interaction terms were dropped from all subsequent analyses. Table 5 presents the results of Equations 1 and 2. As hypothesized in Hypotheses 1 and 3, brand class and price were found to exert a significant positive impact on perceived quality (p <.05). However, the effect of brand awareness on perceived quality was marginal (p <.10), thereby providing weak support for Hypothesis 2. The three exogenous variables explained approximately 44% of variance in perceived quality. The effects of brand awareness, price, and perceived quality were also found to affect price fairness significantly (p <.05). The effect of price was negative as hypothesized in Hypothesis 4, whereas those of brand awareness and perceived quality were positive as in Hypotheses 5 and 6, respectively. Note that as expected, the effect of brand class on price fairness was insignificant. The model explained about 15% of the variance in price fairness. The results of perceived customer value (Equations 3 and 4) appear in Table 6. When regressed directly on perceived value, brand class and price showed statistical significance (p <.05). The price effect was negative, supporting Hypothesis 8. However, brand awareness was found to be an insignificant direct antecedent of perceived value. This equation produced an R2 of.09. In contrast, Equation 3 resulted in an insignificant brand class effect, and the effects of price, perceived quality, and price fairness appeared to be significant, lending support for Hypotheses 7,8, and 9, respectively. Note that the price effect on customer value was negative in both models, and its standardized estimates suggested that the effect became much smaller when the two mediators were included in the model.

8 1 150 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh I CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 151 Table 4 Multivariate Analysis of Variance Results Experimental Treatment Wilks's A p Value (BC) (BA) BCxBA BC x BA x BC x BA x Note: df = 5, N = 225. Dependent variables are perceived quality, price fairness, perceived values, purchase intention, and search intention. Table 5 Regression Estimates of the Perceived Quality and Fairness Equations Partial Regression Coefficients Independent Variable Unstandardized Standardized t Value Perceived quality (Equation 1) R2 (adjusted R2) =.44 (.44)8 fairness (Equation 2) Perceived quality R2 (adjusted R2) =.16 (.15)8 a. F <.01. *p<.10. **p<.05. ***p< *** 1.72* 2.38** 50.12*** 2.43** *** 3.79*** 8.56*** tions. The five variables specified in Equation 4 accounted for about 49% of variance in perceived customer value (p <.01). Purchase intention (Equations 5 and 6) also produced expected results, as presented in Table 7. The results of Equation 5 showed that price, perceived quality, and price fairness were significant predictors of purchase intention (p <.05). As expected, the price effect was negative, whereas the effects of perceived quality and price fairness were positive. Also shown in the table is that brand awareness and brand class are not significant (p >.05), because their effects on purchase intention were completely mediated by perceived quality and price fairness. This Table 6 Regression Estimates of the Perceived and Value Equations Partial Regression Coefficients Independent Variable Unstandardized Standardized t Value Perceived value (Equation3) R2 (adjusted R2) =.10 (.09)8 Perceived value (Equation 4) Perceived quality fairness R2 (adjusted R2) =.50 (.49)8 a. F <.01. ***p< *** *** 43.02*** *** 6.67*** 10.47*** 8.56*** independent variables-only model entailed an R2of.24. These results are consistent with the implications suggested by the results in Table 6. The results of Equation 6 indicate that customer value is a complete mediator of all the independent variables. When introduced into the independent variables-only model (Le., Equation 5), customer value appeared to be the only significant positive predictor of purchase intention. The previously significant independent variables (Le., price, perceived quality, and price fairness) became insignificant. These findings support Hypothesis 10 and provide again strong evidence of Baron and Kenny's (1986) conditions for perfect mediation. This mediator-included model accounted for about 52% of variance in purchase intention. Finally, search intention (Equations 7 and 8) showed patterns of the results that were similar to those of purchase intention equations. Table 8 summarizes the results. In the independent variables-onlymodel (Le.,Equation 7), only price, perceived quality, and price fairness appeared to be statistically significantpredictors of search intention. As expected, the effect of price was positive and those of perceived quality and price fairness were negative. The R2value of this equation was.18. Customer value again appeared to be a complete mediator of the five antecedents toward search intention. When customer value was additionally introduced into Equation 7, all the independent variables became statistically insignificant. The effect of price was only marginal (p <.10). As hypothesized in Hypothesis 11, the effect of perceived customer value on search intention was negative. This mediator-included model explained approximately 38% of variance in search intention.

9 152 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh I CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 153 Independent Table 7 Regression Estimates of the Purchase Intention Equations Variable Purchase intention (Equation 5) Perceived quality fairness R2 (adjusted R2) =.26 (.24)8 Purchase intention (Equation 6) Perceived quality fairness Perceived value R2 (adjusted R2) =.53 (.52)8 a. F <.01. *p<.10. ***p<.01. Independent Partial RegressionCoefficients Unstandardized Standardized ; Table 8 Regression Estimates of the Search Intention Equations Variable Search intention (Equation 7) Perceived quality fairness R2 (adjusted R2) =.19 (.18)8 Search intention (Equation 8) Perceived quality fairness Perceived value R2 (adjusted R2) =.39 (.38)8 a. F < ;01. *p<.10. ***p<.01. Partial Regression Coefficients Unstandardized Standardized t Value *** 3.08*** 5.79*** 1.76* *** 0.04 t Value *** -3.05*** -3.68*** 10.19*** * *** 12.90*** DISCUSSION Several design and analysis characteristics strengthened the usefulness of the study results. First, the reliability alpha of each construct was sufficiently high, indicating that the multiple items of each construct were internally consistent. Second, the two newly introduced constructs (Le., brand awareness and price fairness) exhibited discriminant validity in factor analyses, which suggests that these variables play an independent role in the decision context examined in this study. Third, the results of this study were based on successful manipulation effects; all three exogenous variables produced intended high-low treatment effects. Fourth, response involvement was reasonably high, which could enhance face validity of the results. In addition, the overall results of the study demonstrated nomological validity by supporting most predictive hypotheses that were developed from previous studies, as well as related literature. Customer value appears to be a full mediator of consumers' price~quality trade-off toward both purchase and search intentions. In other words, price, perceived quality, and price fairness were completely mediated by customer value. This finding supports the results of previous studies and suggests that perceived value is an important summary of consumers' decision process surrounding brand and price perceptions. This finding also adds to the existing literature in that customer value mediates not only price-elicited feeling of sacrifice (e.g., see Dodds et at, 1991) but also price fairness as speculated by Martins and Monroe (1994). Thus, customer value is deemed a useful concept to lodging marketers whose primary strategies are focused on quality and pricing. Brand name effects that were traditionally examined in previous value studies could be interpreted mainly as product or brand class effects in the lodging industry. One distinct characteristic of lodging product is that its quality is routinely associated with product class. Apparently, upscale hotels such as Marriott and Sheraton tend to offer more service features than budget or economy motels such as Motel 6 and Econo Lodge, thereby creating superior quality perceptions among customers. Nonetheless, many lodging companies build their unique brand name and image (Le., brand awareness) without being necessarily in the upscale market. Thus, different from previous studies, this study separated brand name effects into product (brand) class and brand awareness effects. The results generally support that brand class leads primarily to quality perceptions, whereas brand awareness is associated mainly with price comparisons (Le., price fairness). The findings related to brand class in this study are consistent with those related to brand name effects in previous value studies. Therefore, traditional brand name effects could be referred to as product class effects, perhaps regardless of the level of awareness of the brand name. Building high brand awareness may mitigate consumer perceptions of pricerelated feelings of sacrifice. Although price has been examined widely in the marketing literature, it has been done so mainly as a predictor of quality perceptions and value judgments or as an extrinsic cue to general purchase decisions. Consequently, its antecedents are relatively unknown. seems to be a variable that contributes to positive perceptions of a charged price by helping con-

10 154 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 155 sumers compare the focal product price favorably with the prices of competitor products. This constructive role of brand awareness has not been examined by previous studies that have focused on product class. Thus, companies' efforts to build the awareness of their brand name seem to have beneficial consequences by guiding consumers to internalize the product price in the positive direction. Although this study found that price fairness plays a significant role in the value process, the scales used in this study do not seem to have captured its property fully. Quite a small amount of its variance was explained by brand awareness, price, and perceived quality (R2=.15). Nevertheless, the concept of price fairness possesses several important characteristics from a theoretical standpoint. First, it is likely to account for consumers' prepurchase price comparisons for the products in the final stage of purchase decision making. Thus, inclusion of price fairness in the model explicitly considers competitor products in an important way. Studies devoted to investigating the role of price fairness are necessary. Second, researchers have conceptualized price typically as a negative input to perceptions of customer value. However, the nature of price information contained in price fairness produces positive effects on customer value. This finding provides another perspective on the versatility of price functions. Another important implication of price fairness is that lodging consumers do consider the price of the target, as well as its competitor, product when making a purchase decision. Thus, consumer-oriented pricing strategies should receive further attention in the lodging industry, where rather computerized supply/demand-based pricing (Le., yield management) is popular. CONCLUSION AND SUGGESTIONS This study attempted to introduce and test a modified theory of customer value in the lodging industry. Customer value theory postulates the behavior of pricequality trade-off as its central concept. Added to the traditional value model were two new concepts relevant to lodging consumption situations: brand awareness and price fairness. Hypotheses were tested via an experimental study. The main findings can be summarized as follows: 1. and brand awareness have different marketing implications. The former is related mainly to quality perceptions, whereas the latter is associated with price faimess. 2. Previously known brand effects can be interpreted as brand or product class effects. 3. signals quality, but counteracts perceptions of price fairness and value. 4. Consumers' value perceptions fully mediate price and quality judgments toward purchase and search intentions. 5. Purchase and search intentions are positive and negative consequences of customer value, respectively. Managerial Implications Customer value seems to be a useful concept in marketing lodging products. Although the lodging industry has invested heavily in improving customer satisfaction and service quality for years, commensurate investment has,not been given to customer value-based strategy development. Customer value, as tested in this study, appears to be a powerfulpredictor of a purchase and a critical deterrent of search behavior. Lodging marketers should consider increasing consumer value perceptions by counter-balancing between price and product offerings. In addition, marketers might want to include measures of customer value perceptions so that the measures could serve as a guiding index in strategy formulation efforts. should receive a serious consideration in lodging marketing. This study showed how price becomes involved in consumers' valuejudgments. Consumers consider not only the focal product price, but also the prices of alternative products (Le., reference price). Nevertheless, the lodging industry's current pricing strategy is based, to a great extent, on the demand volume. The practice of this demand-oriented pricing may neglect the impact that consumers' psychological feeling about the price may exert on whether to buy the product or to switch to competitor products. Thus, marketers should develop a mechanism that can incorporate systematically into corporate pricing policies consumer price perceptions of both the focal product and its competitor products, in addition to market demand. Establishing strong brand awareness among potential customers contributes to enhanced value judgments, increased purchase intention, and decreased search behavior. Lodging operators do not have to necessarily position their products in higher product classes to succeed. Instead, by creating wide brand recognition and executing carefully developed competitive pricing, marketers may be able to direct customers to follow a price-oriented processing of the product. In some cases, this price-oriented strategy may be sufficient to generate high customer value perceptions that will result in increased product trials and market retention. This type of strategy can be a fruitful defensive strategy, particularly in a highly saturated lodging segment. LimitationsandSuggestions Higher external validity of the study results can be achieved by using more active lodging customers, testing the theory in an actual purchase setting, and sampling a wider range of both customers and products. Although this study was carefully designed to strengthen internal validity,the experimental nature prohibited improving external validity to a greater extent. Thus, caution must be givento interpreting and generalizing the findings to all lodging purchase decisions. Examination of the proposed model in a field setting may complement the sampling limitation of this study. The proposed model can be extended to include price perceptions and perceived sacrifice. This study focused on testing a modified value theory with lodging products; however, as found useful in previous product-oriented studies, direct inclusion of price perceptions and perceived sacrifice in the proposed model may enrich marketers' understanding of the role of price in consumer behavior. This is particularly true in the lodging industry, where the behavioral perspective of price has rarely been studied. In conjunction with this line of research, investigations of the concept of internal reference price (Monroe & Lee,

11 156 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS ) warrant a productive avenue to increased understanding of the role of price in consumer decision making. Finally, the concept of brand awareness, as compared to brand class, needs to receive further attention in marketing research. The results of this study provided a useful beginning point for much more rigorous studies on the concept. Many related questions await careful investigations: What is the role of brand awareness relative to brand class in different industries? What are the effects of brand awareness as nested in brand class? How can marketers build brand awareness, that is, what improves brand awareness effectively and efficiently? Additional conceptual and qualitative studies are necessary to distinguish brand awareness effects from those of similar concepts, such as brand class. motels on the Internet and ran across the following web page of a motel. Please examine the information given and answer the question attached. Product Description The sample product was described by both a colorful picture of the facade of a hoteumotel and a list of amenities the hoteumotel offered. The product description was kept constant within brand class. The picture showed a hoteumotel theme building that did not characterize any particular brand in actuality. The list of amenities was presented in bullet points for clear presentation, covering four general information areas: (a) hotel operation information, (b) guestroom amenities, (c) facilities and services available, and (d) surrounding attractions. Further details are available on request from the author. Information APPENDIX The content of the sample web sites consisted mainly of four pieces of information the order of presentation): (a) an experimental situation, (b) product description, (c) price information, and (d) research questionnaire. To elicit increased realism, the description and type of information given to the sample product closely followed the results of preliminary informal content analyses of several actual lodging web sites in the target product categories. Experimental Situation Following Schwartz's (1999) suggestions on context manipulations for different product usage situations, this study varied the product usage situation that would achieve a likely fit. The product usage situations in the study were developed based on the results of preliminary discussion with the pretest sample. For the high-end products (Le., Marriott Hotel and Central Park Hotel), the following purchase situation was given: Assume that YOU are planning to visit New York for a 3-day vacation during the upcoming spring break [the spring break was only 4-5 weeks away when this study was being conducted]. For this special vacation, you have saved money diligently so that you can afford a good hotel. To reserve a hotel room, you looked at hotels on the Internet and ran across the following web page of a hotel. Please examine the information given and answer the questions attached. The purchase situation for the low-end products (i.e., Motel 6 and Roadside Motel) was as follows: Assume that YOU A are planning to visit one of your best friends in New Orleans during the upcoming spring break. You decided to drive and stay overnight on the road after about a 14-hour drive. To reserve a room in advance, you looked up (in The price information was given at the end of product description. For the high-end products, the price given was U.S.$350 for high and U.S.$llO forlow levels. The prices for the low-end products were U.S.$80 for high and U.S.$21 for low levels of treatment. The price information was presented as follows: Daily room rate for the reservation during the February-April U.S.$ Research Questionnaire period: Immediately following the price information was a large, visible red-colored arrow with an attached direction, "Please click the button." The research questionnaire page was linked to this arrow button. Then, the questionnaire began asking general questions down to specific questions addressing the constructs of the proposed model. Included in the ending part of the questionnaire was Zaichkowsky's (1985) Personal Involvement Inventory. The questionnaire was identical for all products, except for the actual name of the sample hoteumotei. Detailed measurement items are shown in Appendix B. APPENDIX The measurement items and scales used in this study are presented below in a concise format, along with the general direction. A 7-point click-button scale was used for all items but the one indicated. Whenever possible, questions for each construct were dispersed across the questionnaire to prevent potential carryover effects. Directions Please read each question below and provide your answer by clicking a button on each scale. Please do not miss any questions. Upon completion, please click the "Submit" button at the bottom of the questionnaire. B

12 158 JOURNAL OF HOSPITALITY & TOURISM RESEARCH Oh / CUSTOMER VALUE AND BEHAVIORAL INTENTIONS 159 Brand Class Brand Awareness Perceived Fairness What are the brand perceptions you have about XYZ? Budget... High priced Low end... High end Very limited service... Very extensive service Bottom class... Top class Very limited amenities... Very extensive amenities The brand name XYZ is Very unfamiliar Not known at all Not visible at all Never heard of Not famous at all The price charged by XYZ is Very inexpensive A real bargain Very low Not pricey at all Very reasonable Very familiar Very well known Very visible Heard of a lot Very famous Very expensive A real rip-off Very high Very pricey Very unreasonable Purchase Intention Search Intention XYZ will be worth the money. Strongly disagree Strongly agree The overall expected value of staying at XYZ is Very low... Very high Poor... Excellent XYZ is a good deal. Strongly disagree Strongly agree Would you choose XYZ for the given travel situation? Definitely no... Definitely yes Very unlikely... Very likely Given your travel situation, the probability of your choosing this hotel is Very low 0% Very high 100% (II-point scale) Given your travel situation as above, would you consider choosing a different hotevmotel? Very unlikely... Very likely Perceived Quality Customer Value Given the description of XYZ and other similar hotels/motels like XYZ, the price charged by the hotevmotelis Unfair... Fair A poor match... A good match Not logical... Logical Inappropriate... Appropriate Irrational... Rational The expected product/service performance of XYZ is Poor.... Excellent Inferior... Superior Extremely unfavorable... Extremely favorable The overall expected product/service quality of XYZ is Poor... Excellent Inferior... Superior Extremely unfavorable... Extremely favorable XYZ offers good value for the price. Stronglydisagree... Stronglyagree REFERENCES Baron, R. M., & Kenny, D. A. (1986). The moderator-mediator variable distinction in social psychological research: Conceptual, strategic, and statistical considerations. Journal of Personality and Social Psychology, 51(6), Bearden, W.0., Kaicher,A., de Borrero, M. S., & Urbany,L. E. (1992).Examining alternative operational measures of internal reference prices. Advances in Consumer Research, 19, Bojanic, D. C. (1996). Consumer perceptions of price, value and satisfaction in the hotel industry: An exploratory study.journal of Hospitality &LeisureMarketing, 4(1),5-22. Bonner, G. P., & Nelson, R. (1985). Product attributes and perceived quality: Foods. In J. Jacoby & J. Olson (Eds.), Perceivedquality'(pp ). Lexington, MA: Lexington Books. Bowen, J. T., & Sparks, B. A. (1998). Hospitality marketing research: A content analysis and implicationsfor future research. InternationalJournal ofhospitality Management, 19(2), Butz, H. E., Jr.,& Goodstein, L. D. (1996,Winter). Measuringcustomer value: Gainingthe strategic advantage. OrganizationalDynamics, 24, Carminal, R., & Vives, X. (1996, Summer). Why market shares matter: An informationbased theory. Rand Journal of Economics, 27,

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