Limitations and implications for further research
However, in assessing the implications of this study, its limitations must be acknowledged.
Due to the fact that the results are directly relevant only to narrow target group (hotel guests)
generalizations of the findings beyond the immediate population observed should be taken
with caution.
Authors recommend researchers to improve the customer value measurement tool towards
fine-tuning. Also more expanded model with more indicators on both sides of perceived value
should be developed in the future. Because of the regression design, the relationships found
could be spurious when the independent and dependent variables in the model are correlated
with other variables that are not included in the model. Preferably, the choice of such
variables (or even control variables such as gender, social group or education) should be
based on previous research findings, or at least on a clear reasoning. Concerning that more
indicators of benefits should be incorporated in the model (e.g. image, reputation) as well as
more indicators of sacrifices (e.g. perceived risks).
Also the model could be better explained with the inclusion of relationships between
perceived value and tourists’’ future intentions (e.g. WOM, loyalty). In addition, the proposed
model could be modified to allow standardized measurement of tourist perceived value as
well as satisfaction at the level of different individual suppliers (e.g., restaurants, and other
tourists’ service providers) as well as on the level of destination. Further more common
methodological basis for measuring guests perceived value, satisfaction and loyalty at
different interaction points would thus help identify different important elements in the
integrated destination’s offering and provide valuable managerial information for tourist
service providers. With testing model in other cultural environments, presumably developed
versus underdeveloped national economies, researchers may develop a general tourists’
perceived value and satisfaction model.
Limitations and implications for further researchHowever, in assessing the implications of this study, its limitations must be acknowledged.Due to the fact that the results are directly relevant only to narrow target group (hotel guests)generalizations of the findings beyond the immediate population observed should be takenwith caution.Authors recommend researchers to improve the customer value measurement tool towardsfine-tuning. Also more expanded model with more indicators on both sides of perceived valueshould be developed in the future. Because of the regression design, the relationships foundcould be spurious when the independent and dependent variables in the model are correlatedwith other variables that are not included in the model. Preferably, the choice of suchvariables (or even control variables such as gender, social group or education) should bebased on previous research findings, or at least on a clear reasoning. Concerning that moreindicators of benefits should be incorporated in the model (e.g. image, reputation) as well asmore indicators of sacrifices (e.g. perceived risks).Also the model could be better explained with the inclusion of relationships betweenperceived value and tourists’’ future intentions (e.g. WOM, loyalty). In addition, the proposedmodel could be modified to allow standardized measurement of tourist perceived value aswell as satisfaction at the level of different individual suppliers (e.g., restaurants, and othertourists’ service providers) as well as on the level of destination. Further more commonmethodological basis for measuring guests perceived value, satisfaction and loyalty atdifferent interaction points would thus help identify different important elements in theintegrated destination’s offering and provide valuable managerial information for touristservice providers. With testing model in other cultural environments, presumably developedversus underdeveloped national economies, researchers may develop a general tourists’perceived value and satisfaction model.
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