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A Comparative Study on Perceived Price Levels by Information of Rate Increase of Intercity Bus

  • Journal of Tourism Sciences
  • Abbr : JTS
  • 2019, 43(8), pp.95-114
  • DOI : 10.17086/JTS.2019.43.8.95.114
  • Publisher : The Tourism Sciences Society Of Korea
  • Research Area : Social Science > Tourism
  • Received : September 11, 2019
  • Accepted : October 7, 2019
  • Published : November 1, 2019

Ji Youn Jeong 1

1경북대학교

Excellent Accredited

ABSTRACT

To minimize the negative perceptions regarding intercity bus fares due to the recent rate increase, this study compared and verified the perceived price level according to the price information provided. In addition, covariance analysis was conducted with five covariates, including the importance of price, household income, frequency of use, loyalty, and safety. The main results of this study are as follows. First, compared to before receiving information on the reason for the rate increase, the perceived rate level was lowered after the information was received. Second, loss aversion and out of control situations were the most effective among the four types of information about the rate increase. Third, it was found that the most effective information type to decrease price perception differed by loyalty levels. While most price studies have been related to experimental studies based on hypothetical scenarios, this study is based on real situations and real customers, contributing to the generalization of hypotheses and theories that have been established by the existing research. It is expected that the results of this study will provide practical implications to the establishment of price-marketing strategies.

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