Value, quality, and price knowledge as predictors of restaurant price sensitivity
Price sensitivity has long been an important consideration for marketers and is particularly salient in the restaurant sector of the hospitality industry. However, an important question has always been whether beliefs about price-quality relationships, value, and price-consciousness predict more domain-specific aspects of price sensitivity. This article explores the relationship between these more general beliefs regarding price-quality relationships, bargain hunting, shopping behavior and price consciousness, and restaurant price sensitivity. A sample of 106 consumers completed an online survey regarding general attitudes toward value, shopping, price consciousness, price knowledge, and restaurant price sensitivity. Results indicated that bargain shopping, price knowledge, and price-quality beliefs were significant predictors of restaurant price sensitivity. Price-sensitive consumers are likely to be value-conscious consumers as well. It was suggested that restaurateurs might segment these price-sensitive consumers and appeal to their appreciation of bargains, coupons, discounts, and other value-based promotions. © Taylor & Francis Group, LLC.
Journal of Foodservice Business Research
McCall, Michael and Bruneau, Carol L., "Value, quality, and price knowledge as predictors of restaurant price sensitivity" (2010). Faculty Articles Indexed in Scopus. 1449.