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CABI Book Chapter

Creating experience value in tourism 2nd edition.

Book cover for Creating experience value in tourism 2nd edition.

Description

This book attempts to outline value creation in tourist experiences, theoretically and practically, in order to obtain new understandings and models to help identify how value creation is changing within the tourism industry and demonstrate ways in which both tourists and settings can proactively take part in this change, thus becoming a vital element in its success. In this second edition, contri...

Chapter 13 (Page no: 180)

Prices and value in co-produced hospitality and tourism experiences.

This chapter explores the role of pricing when the consumed product is co-produced in the context of tourism and hospitality experiences. The discussion covers three phases of tourism consumption/transaction: advanced booking, production/service and payment, which all have implications on pricing and revenue, but in different ways. The chapter first focuses on the production/service phase. The basic analytical framework in microeconomics is reviewed, in which price is seen as a trade regulator. Drawing on this framework, the impact of co-production on demand, supply, prices, revenues and profits is analysed. Then the assumption of perfect information in the microeconomic analysis is relaxed, and the informational value of price in purchases with uncertainty and how it may be influenced by co-production are discussed. It is proposed that tipping may be a desirable payment method associated with co-production. Attention is also given to the economic and socio-cultural experiences of the Chinese, which may be different from the Western normality. Lastly, the co-creation of prices in the advanced booking context is addressed.

Other chapters from this book

Chapter: 1 (Page no: 1) Co-creation of tourist experience: scope, definition and structure. Author(s): Prebensen, N. K. Chen, J. S. Uysal, M. S.
Chapter: 2 (Page no: 11) Dynamic drivers of tourist experiences. Author(s): Chen, J. S. Prebensen, N. K. Uysal, M. S.
Chapter: 3 (Page no: 21) Tourist experience value: tourist experience and life satisfaction. Author(s): Björk, P.
Chapter: 4 (Page no: 44) Why, oh why, oh why, do people travel abroad? Author(s): Dann, G. M. S.
Chapter: 5 (Page no: 57) Self-congruity theory in travel and tourism: another update. Author(s): Sirgy, M. J. Lee DongJin Yu, G. B.
Chapter: 6 (Page no: 70) Moving people: a conceptual framework for understanding how visitor experiences can be enhanced by mindful attention to interest. Author(s): Dahl, T. I.
Chapter: 7 (Page no: 83) Co-creation of experience value: a tourist behaviour approach. Author(s): Andrades, L. Dimanche, F.
Chapter: 8 (Page no: 98) Authenticity as a value co-creator of tourism experiences. Author(s): Ramkissoon, H. Uysal, M. S.
Chapter: 9 (Page no: 122) Approaches for the evaluation of visitor experiences at tourist attractions. Author(s): Jensen, Ø.
Chapter: 10 (Page no: 137) Storytelling in a co-creation perspective. Author(s): Mathisen, L.
Chapter: 11 (Page no: 148) Tourist information search: a DIY approach to creating experience value. Author(s): Korneliussen, T.
Chapter: 12 (Page no: 159) Co-creation of value and social media: how? Author(s): Yüksel, A. Yanik, A.
Chapter: 14 (Page no: 192) Value creation: a tourism mobilities perspective. Author(s): Prideaux, B.
Chapter: 15 (Page no: 203) Guide performance: co-created experiences for tourist immersion. Author(s): Mossberg, L. Hanefors, M. Hansen, A. H.
Chapter: 16 (Page no: 215) Value creation and co-creation in tourist experiences: an East Asian Cultural Knowledge Framework approach. Author(s): Lee YoungSook Prebensen, N. K.
Chapter: 17 (Page no: 228) Perspectives on value creation - resource configuration. Author(s): Prebensen, N. K. Uysal, M. S. Chen, J. S.
Chapter: 18 (Page no: 238) Value co-creation: challenges and future research directions. Author(s): Prebensen, N. K. Uysal, M. Chen, J. S.

Chapter details

  • Author Affiliation
  • Sun Yat-Sen University, Guangzhou, China.
  • Year of Publication
  • 2018
  • ISBN
  • 9781786395030
  • Record Number
  • 20183184077