Research On The Relationship Between Customer Perceived Relationship Investment And Willingness To Pay A Price Premium For Hotel's Brand

As a classic representative of service industry,the hotel industry has become increasingly fierce in competition in recent years.Customers' expectations of the hotel's products and services are gradually rising.Homogenized products and traditional marketing tactics make it hard to improve profitability.In this context,how to improve the profitability of hotels by increasing the willingness of customers to pay a price premium is a problem which worth further study.Reciprocity theory can help branded hotels understand consumer behavior and improve their competitiveness.After the customers perceived that the branded hotels have invested in the relationship,the customers have a sense of responsibility and obligation to return the hotel due to reciprocity,so as to pay a premium for the hotel and improve the performanceTaking the customers of hotels's brand as samples,this paper collected data by questionnaire,and obtained a total of 231 valid questionnaires.SPSS23.0 and AMOS20.0 were used to conduct descriptive statistical analysis of the data,as well as reliability and validity tests,and the hypothesis relationship among the variables was tested by establishing structural equations.The results show that:(1)Perceived relationship investment has a significant positive impact on customer cognitive engagement,customer affective engagement and customer behavioral engagement.In addition,perceived relationship investment has the largest impact on customer cognition engagement,followed by customer affective engagement and the smallest impact on customer behavioral engagement.(2)Customer affective engagement and customer behavioral engagement has a significant positive impact on consumer well-being perception,and customer affective engagement has the largest impact,followed by customer behavioral engagement,and has no significant impact on customer cognitive engagement.(3)Consumer well-being perception has a significant positive impact on willingness to pay a price premium.(4)Customer engagement plays a mediating effect between perceived relationship investment and consumer well-being perception.(5)Customer engagement and consumer well-being perception plays a mediating effect between perceived relationship investment and willingness to pay a price premiumBased on reciprocity theory,this paper constructs a model of customers'willingness to pay a price premium from the perspective of relationship investment of branded hotels.This paper analyzes the mechanism of "perceived relationship investment-customer engagement-consumer well-being perception-willingness to pay a price premium".Emphasize the mediating effects of customer engagement between perceived relationship investment and consumer well-being perception,and the mediating effects of customer engagement and consumer well-being perception between perceived relationship investment and willingness to pay a price premium.It enriches the logical path to increase the willingness to pay a premium of customers.