THE ROLE OF UTILITARIAN VALUE, HEDONIC VALUE, AND FINANCIAL VALUE IN INFLUENCING INTENTION TO STAY AMONG LUXURY HOTEL CUSTOMERS IN JAKARTA
Keywords:
utilitarian value, hedonic value, financial value, intention to stay
Abstract
Currently, the hotel industry is experiencing a decrease in the intention to stay due to a decline in tourist numbers as well as the use of technology that changes people's behavior and the spread of hotels that provide a unique staying experience. Thus, it is important to research the intention to stay, because it is in order to increase the customers’ purchases. The purpose of this study was to determine whether: 1) Utilitarian value has a significant effect on intention to stay among 5-star luxury hotel customers; 2) Hedonic value has a significant effect on the intention to stay among 5-star luxury hotel customers; and 3) Financial value has a significant effect on the intention to stay among 5-star luxury hotel customers. Samples were selected using the convenience sampling method with a total sample of 150 respondents among Indonesian customers who have rented and stayed at least once. The results of this study show that the perceived utilitarian value, hedonic value, and financial value can positively affect the intention to stay among the customers of 5-star luxury hotels.
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References
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Wang, C. G. (2017). The influence of perceived value on purchase intention in social commerce context. Internet Research, 27(4), 772-785.
Wu, Ben., and Yang, Wan. (2018). What do Chinese consumers want? A value framework for luxury hotels in China. International journal of contemporary hospitality management, 30(4), 2037-2055.
Yang, W. & Mattila, A. (2016), Why do we buy luxury experiences? Measuring value perceptions of luxury hospitality services, International Journal of Contemporary Hospitality Management, 28(9), 1848-1867.
Al-Hajla, D. A. (2017). Luxury hospitality values regarding luxury hotels and the role of religious values in the Islamic market. Journal of Tourism, Hospitality and Sports, 32, 2312-5187.
Belch, G. E., & Belch, M. A. (2004). Advertising and Promotion an Integrated Marketing Communications Perspective. New York: McGraw-Hill/Irwin.
Chiu, Chao-Min., Wang, Eric T. G., Fang, Yu-Hui., and Huang, Hsin-Yi. (2014). Understanding customers’ repeat purchase intentions in B2C e-commerce: The roles of utilitarian value, hedonic value, and perceived risk. Information Systems Journal, 24(1).
Chiu, Weisheng., and Leng, Ho Keat. (2016). Consumers’ intention to purchase counterfeit sporting goods in Singapore and Taiwan. Asia Pacific Journal of Marketing and Logistics, 28 (1), 23-36.
CNBC Indonesia. Tingkat Hunian Hotel Ambles, Pariwisata Bisa Merana (Retrieved from: www.cncbcindonesia.com /14-12-2019)
Dhar, Ravi & Klaus Wertenbroch. (2000), Consumer Choice Between Hedonic and Utilitarian Goods. Journal of Marketing Research. Vol 37. 60-71.
Durianto, Darmadi., Sugiarto., Widjaja, Anton W., & Supratikno, H. (2003). Invasi Pasar dengan Iklan yang Efektif: Strategi, Program, dan Teknik Pengukuran. Jakarta: PT Gramedia Pustaka Utama.
Fraenkel, J. R., Wallen, N. E. dan Hyun, H. E. 2012. How to Design and Evaluate Research in Education. New York: McGraw Hill Companies, Inc.
Ghozali, Imam. dan Hengky Latan. (2015). Konsep, Teknik, Aplikasi Menggunakan Smart PLS 3.0 Untuk Penelitian Empiris. Semarang: Badan Penerbit UNDIP.
Hennigs, Nadine., Wiedmann, Klaus-Peter., Klarmann, Christiane., and Behrens, Stefan. (2015). The complexity of value in the luxury industry: From consumers’ individual value perception to luxury consumption. International Journal of Retail and Distribution Management. 43 (10/11): 922-939.
Hung, Kuang-Peng., Chen, Annie., Peng, Norman., Hackley, Chris., Hackley, R. Amy., and Chou, Chun-Iun. (2011). Antecedents of luxury brand purchase intention. Journal of Product and Brand Management, 20(6): 457-467.
Jain, S. (2019). Exploring relationship between value perception and luxury purchase intention. Journal of Fashion Marketing and Management, 23(4), 414-439.
Jones, M.A., Reynolds, K.E. & Arnold, M.J. (2006), Hedonic and utilitarian shopping value: investigating differential effects on retail outcomes, Journal of Business Research, 59(9), 974-981.
Kim, J. (2016), The influence of hedonic versus utilitarian consumption situations on the compromise effect, Marketing Letters, 27(2), 387-401.
Kompas. Pengertian Hotel dan Karakteristiknya (Retrieved from: www.kompas.com /27-12-2019)
Kotler, Philip & Gary Amstrong. (2016). Prinsip-Prinsip Pemasaran Edisi 13. Jilid 1. Jakarta: Erlangga.
Kotler, Philip & Kevin L. Keller. (2016), Marketing Management, 15th edition. United States: Pearson Education.
Lusch, Robert F. and Vargo, Stephen L. Service-dominant logic: reactions, reflections, and refinements. Journal of Marketing Theory, 6 (3): 281-288. DOI: 10.1177/ 1470593106066781.
Machfoedz, Mahmud. (2010). Komunikasi Pemasaran Modern, Cetakan Pertama. Cakra Ilmu, Indonesia: Yogyakarta.
Navarro, S., Andreu, L. & Cervera, A. (2014), Value co-creation among hotels and disabled customers: an exploratory study, Journal of Business Research, 67(5), 813-818.
Sekaran, U. & Bougie, R. (2013). Research Methods for Business: A Skill-Building Approach. 5th Edition. New York: John Wiley & Sons.
Shan, L. J. (2018). Heterogeneity of luxury value perception: a generational comparison in China. International Marketing Review, 35(3), 458-474.
Smith, J. B. & Colgate, M., 2007. Customer Value Creation: A Practical Framework. Journal of Marketing Theory and Practice, 15(1), 7–23.
Souad, Djelassi., Godefroit, Delphine., and Diallo, Mbaye Fall. (2018). Does culture affect the relationships among utilitarian and non-utilitarian values, satisfaction, and loyalty to shopping centres? Evidence from two Maghreb countries. International Journal of Retail and Distribution Management. DOI: 10.1108/IJRDM-06-2017-0131.
Srinivasan, R. and Sandeep Bhanot. (2015). Influence of Financial Value on Purchase of Luxury Brands with Respect to Demographic Variables. Journal of Business and Management (IOSR-JBM), 17(2), 64-73.
Sugiyono. (2013). Metode penelitian pendidikan pendekatan kuantitatif, kualitatif, dan R&D. Bandung: Alfabeta.
Swasta, Basu & Irawan. (2010). Manajemen Pemasaran Modern. Liberti: Yogyakarta.
Veblen, T. (1899), The theory of the leisure class 1994, Penguin, New York, NY.
Walls, A., Okumus, F., Wang, Y. & Kwun, D.J.-W. (2011), Understanding the consumer experience: an exploratory study of luxury hotels, Journal of Hospitality Marketing & Management, 20(2), 166-197.
Wang, C. G. (2017). The influence of perceived value on purchase intention in social commerce context. Internet Research, 27(4), 772-785.
Wu, Ben., and Yang, Wan. (2018). What do Chinese consumers want? A value framework for luxury hotels in China. International journal of contemporary hospitality management, 30(4), 2037-2055.
Yang, W. & Mattila, A. (2016), Why do we buy luxury experiences? Measuring value perceptions of luxury hospitality services, International Journal of Contemporary Hospitality Management, 28(9), 1848-1867.
Published
2022-11-30
How to Cite
Ruslim, T. S., Hazel, M., & Siswanto, H. P. (2022). THE ROLE OF UTILITARIAN VALUE, HEDONIC VALUE, AND FINANCIAL VALUE IN INFLUENCING INTENTION TO STAY AMONG LUXURY HOTEL CUSTOMERS IN JAKARTA. Jurnal Scientia, 11(02), 492-497. Retrieved from http://seaninstitute.org/infor/index.php/pendidikan/article/view/910
Section
Articles
