The Study On The Relationships Between Customer Value, Customer Loyalty, And The Performance In Hospitality

The rapid development of the service economy and the coming trend of service economy era in today's world, making more and more industries and enterprises realize the importance of self-positioning. Especially the hotel industry which already have acquired enormous progress in several decades, but also exposed many problems in the drastic competition, and lead to the phenomenon of low-profit. The hotel in China want to improve their competitiveness and gain the higher incomes and profits, and promote the level of performance, they must find the keys which can help them to achieve the goals and institute the specific measures. And in the times of Customer-centric, it's self-evident that customer is the most important resource in the hotel.The study on customer value and customer loyalty have already get the importance of the academia, and have bring about lots theories and views. The same to the hotel, the key that can get the competitive advantage in the market is creating more customer value and winning more customer loyalty. That is also the effective measures of having more incomes and improving the performance. As the words of Woodruff(1997), through superior customer value delivery than the competitors, company can achieve and retain competitive advantage. In face of the status that the intense competitive environment and the low profits in the hotel industry, and the demands of characteristics, the importance of concerning about the hotel customer value and customer loyalty has been recognized. The study on customer value and customer loyalty has matured, and the application in different industries is more than before. And the Pareto's principle also indicates that the 20% loyal customers can create the 80% incomes and profits, it means that the majority profits come from a small number of loyal customers. So we can get the result that the customer loyalty is very important to the profits and performance. The same that the core is the central of the customer value in the theory of Service Profit Chain, and it pointed out that the customer value, loyalty, and the performance are all in a dynamic process. So Service Profit Chain requests service enterprises manage and design process based on the customer value equation, make customer satisfied and cultivate customer loyalty, get more profits and improve the level of performance. So in order to win the existence and profits , hotel should create more customer value and customer loyalty. And the hotel have realized the driving power of the customer value and loyalty.Through reading the literature of domestic and foreign scholars, we find there are some study on the customer value and it's dimensions, or just study the hotel customer loyalty and business performance, or study on the relationships of the hotel customer satisfaction, customer loyalty and performance. However, there are little articles study on the relationships of customer value, customer loyalty and business performance in hospitality. Though some articles have study on them based on the customer value, the comprehension and research methods is different to this article. So this article based on the theories of customer value, customer loyalty and the performance, and study on the relationships of them in hospitality, and the empirical analysis have a positive meaning.My study has an empirical analysis to the relationships of customer value, customer loyalty and the performance in hospitality. We get the data from the star-rated hotels in the northeastern region, and want to analyze the relationships of the three variables and to test the hypothesis. This study try to find the relations between customer value and the performance over customer loyalty, and further find whether there has a direct, positive and significant relation between customer value and business performance. Then get the conclusions and give some concise marketing suggestions. This study has three main purpose: first, give the research model and test the research hypothesis. Four hypothesis are existing: H1:hotel customer value has a positive influence on customer loyalty in hotel industry; H2:hotel customer loyalty has a positive influence on business performance in hotel industry; H3:hotel customer value has a positive, direct and significant influence on business performance in hotel industry; H4: The dimensions of hotel customer value have service quality, location, brand image, the overall price, emotional relations, social values and perceived loss. By designing questionnaire and application SPSS and Amos to analyze the collecting data, we deny the H3 and support the others. Second, we get conclusions and give some suggestions to the hotel, help them to use resource effectively, pay attention to customer value and foster customer loyalty, then improve the long-term profitability and the performance. We give concise conclusions in the last chapter. Third, confirm the dimensions and driving factors in hotel customer value, and it is the H4, we achieve this goal.Finally, this article summarizes the inevitable limitations and future research directions. In sum, we located in the study on the relationships between customer value, customer loyalty and the performance, has a certain theoretical and practical meaning. Not only review the theories of customer value, customer loyalty and business performance , and analyze the relationships among them, draw the research model and give the research hypothesis, but also give some suggestions for the improving the profits, and make hotels realized that the key of improving profits and the performance is to create customer value and foster customer loyalty, further provide some reference value for the customer relationship management and development strategy in hospitality.