The influence of dynamic pricing on consumer trust, value, and loyalty relationships in theme parks

Abstract

Previous research addressed the impact of dynamic pricing strategies in different economic sectors. While consumer loyalty towards theme parks received attention, its relationships with consumer trust and value under different dynamic pricing strategies have not been studied. This study investigated the potential influences of different dynamic pricing strategies on the modeled relationships among consumer trust, consumer value, and brand loyalty. A randomized online experiment of six scenarios was developed, sampling 50 theme park visitors in each scenario, and obtaining a usable sample of 286 respondents. The findings revealed that consumers’ overall trust in their favorite theme park, measured by benevolence and competitive trust, positively influenced their overall value perceptions measured by emotional, financial, reputation, and social dimensions. These dimensions had different effects on consumers’ theme park brand loyalty. The multi-group analysis did not show a clear pattern of differences among the different pricing strategies. Theoretical and managerial implications are discussed.