A study on the application of the experience economy to luxury cruise passengers

Abstract

The purpose of this study tried to identify the significance of the experience economy in the luxury cruise industry. To achieve this purpose, this study suggested that four dimensions of the experience economy including education, entertainment, esthetics, and escapism positively affect brand prestige. In addition, it was proposed that brand prestige plays an important role in the formation of the following three outcome variables: social value, brand attachment, and brand loyalty. Data were collected from 312 luxury cruise passengers via an online company’s system in the U.S. The data analysis results showed that all four dimensions of the experience economy have a positive influence on brand prestige, which in turn positively affects social value, brand attachment, and brand loyalty. Both theoretical and managerial implications of the results are discussed.