The effect of perceived price fairness through satisfaction and loyalty on international tourists’ price acceptance of Islamic-Iranian art products

Abstract

Purpose– The purpose of this paper is to investigate the effect of perceived price fairness through satisfaction and loyalty on price acceptance. The antecedents of price fairness, including price perception and tourist vulnerability, will also be examined.Design/methodology/approach– The authors collected 674 questionnaires from international tourists who purchased Islamic-Iranian art products and analyzed simultaneous relations with a structural equation modeling.Findings– The results indicate that perceived price awareness and perceived vulnerability positively and significantly affect perceived price fairness. Additionally, perceived price fairness has a significant influence on customer satisfaction and loyalty. Moreover, customer satisfaction and loyalty were found to have a positive impact on price acceptance.Practical implications– Based on the findings, the results are expected to create a useful perspective for the researchers so they can present a broader model in future studies. The results of this research can help managers develop better pricing strategies and effective pricing mechanism design and, through recognition of factors influencing customer perception of the price, instigate better pricing.Originality/value– Although prior research focused on the relationships among the variables of perception of price, perceived vulnerability, perceived price fairness, satisfaction and loyalty and price acceptance, the current study considers the effect of these variables as a general compound model and in the context of Islamic-Iranian art tourism products.