Value dimensions, perceived value, satisfaction and loyalty: an investigation of university students’ travel behaviour

Abstract

Abstract Both marketing practitioners and academic researchers have traditionally recognised the major influence that perceived value has on consumer behaviour. Tourism and hospitality research have recently shown an interest in value; especially, when investigated with quality and/or satisfaction. The present study has two primary objectives. First, to investigate the dimensionality of consumer value in a travel-related context (students’ travel behaviour), adopting Holbrook's typology, and combining it with negative inputs of value. Second, to explore the relations between consumer perceptual constructs such as perceived value, satisfaction and loyalty. This dual objective is undertaken by providing an LISREL model. The results confirm the existence of a quality–value–satisfaction–loyalty chain and illustrate the complexity of value dimensions that have been shown to be highly sensitive to the tourism experience.