Perceived price
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Price can also be one of the important factors in consumer purchase decision process;
therefore, we incorporated it in the model of hotel services perception. Perceived price is
often considered as perceived sacrifices and is understood as a combination of nominal price
(monetary sacrificies) and all other costs (non-monetary and risk related sacrifices) of product
acquisition and its use (e.g. Zeithaml, 1988; Sweeney et al., 1999; Slater and Narver, 2000;
Ulaga and Chacour, 2001). Non-monetary factors include factors as time, effort or energy,
which may play even more important role that price in money (Wang et al. 2004). Sacrifices
are of prime importance to customer perceptions of value. In that vein Monroe (1990) argues
that customers value the reduction in sacrifices more than an increase in benefits e.g quality