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Choice of non-monetary incentives and coupon redemption intention: Monetary saving and price consciousness as moderators
Institution:1. Faculty of Business Administration, Centre for Cognitive and Brain Sciences, University of Macau, E22-3037, Avenida da Universidade, Taipa, Macau SAR, China;2. Faculty of Business Administration, University of Macau, E22-G031, Avenida da Universidade, Taipa, Macau SAR, China;3. School of Hotel & Tourism Management, The Hong Kong Polytechnic University, 17 Science Museum, TST East, Kowloon, Hong Kong Special Administrative Region;4. School of Tourism Management, South China Normal University, Guangzhou, China;1. Conrad N. Hilton College of Hotel & Restaurant Management, University of Houston, 4450 University Dr. #227, Houston, TX, 77204, United States;2. Department of Hotel Management, Cheju Halla University, 28 Halladae-gil, Heungeop-myeon, Wonju-si, Gangwon-do, South Korea;3. Chaplin School of Hospitality & Tourism Management, Florida International University, Biscayne Bay Campus, 3000 Northeast 151 Street, North Miami, LF, 33181, United States;1. ESSEC Business School, 95021, Cergy Pontoise Cedex, France;2. NYU School of Professional Studies, Jonathan M. Tisch Center of Hospitality, New York, NY, 10003, United States;1. School of Hospitality Leadership, College of Business, East Carolina University, Rivers West 311, Greenville, NC 27858-4353, USA;2. Rosen College of Hospitality Management, University of Central Florida, 9907 Universal Blvd., Orlando, FL 32819, USA;1. School of Hotel and Tourism Management, The Hong Kong Polytechnic University, 17 Science Museum Road, TST East, Kowloon, Hong Kong Special Administrative Region;2. The School of Hospitality Business, Michigan State University, 241 Eppley Center, East Lansing, MI, 48824, USA;3. Rose College of Hospitality Management, University of Central Florida, Orlando, FL, 32819, USA;1. Gabelli School of Business, Fordham University, 140 W. 62nd Street, New York, NY, 10023, United States;2. Koppelman School of Business, Brooklyn College of the City University of New York, 2900 Bedford Ave, Brooklyn, NY, 11210, United States
Abstract:Coupon promotion is widespread in the fast casual restaurant sector. As monetary saving offered in the coupons is costly to suppliers, this study examines: (1) if the provision of choice of non-monetary incentive can substitute high monetary saving in their positive influences on consumers’ redemption intention; and (2) if the substitution effect is contingent on consumers’ level of price consciousness. Drawing from three experimental studies, the results consistently showed that offering choice of non-monetary incentive was effective in increasing consumers’ redemption intention through enhancing their attitude towards the coupon promotion. The effect of offering choice of non-monetary incentive substituted that of high monetary saving, but the substitution effect was merely salient among low price-conscious consumers while the floodlight analysis revealed the point that bifurcates high (versus low) level of price consciousness. The findings add knowledge to the sales promotion and hospitality literature. Meaningful implications are recommended for fast casual restauranteurs.
Keywords:Coupon redemption  Sales promotion  Face value  Choice  Conditional moderated-mediation  Fast casual restaurant
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