The Effect of Tangible Promotions on an Intangible Environment

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dc.contributor.authorSharma, Abhinaven
dc.contributor.authorSanta-Maria, Maria Jesusen
dc.contributor.authorNicolau, Juan Luisen
dc.date.accessioned2024-07-09T17:40:31Zen
dc.date.available2024-07-09T17:40:31Zen
dc.date.issued2023-12-29en
dc.description.abstractPromotions are frequently deployed by firms in service intensive industries like tourism as a way to boost numbers like visitation and occupancy in times when excess capacity may be anticipated. While promotions may indeed augment revenues and other accounting measures commonly used by tourism firms to assess the success of marketing interventions, the impact of these sales tools on long-run finance-based indicators remains largely unexplored. Exploiting a rich dataset consisting of over 300 corporate level hotel promotions spanning nearly three decades, this study shows that promotions can be detrimental to long run performance of tourism firms. This erosion of the market value is particularly acute for promotions that involve tangible monetary components, such as price discounts. While this result supports the tenets of the hierarchy-of-effects theory and prospect theory, the observed effects of the tangible component of sales promotion entail an extension of these theoretical approaches to an intangible environment.en
dc.description.versionAccepted versionen
dc.format.extent16 page(s)en
dc.format.mimetypeapplication/pdfen
dc.identifier.doihttps://doi.org/10.1177/00472875231219240en
dc.identifier.eissn1552-6763en
dc.identifier.issn0047-2875en
dc.identifier.orcidNicolau Gonzalbez, Juan [0000-0003-0048-2823]en
dc.identifier.urihttps://hdl.handle.net/10919/120615en
dc.language.isoenen
dc.publisherSageen
dc.rightsCreative Commons Attribution 4.0 Internationalen
dc.rights.urihttp://creativecommons.org/licenses/by/4.0/en
dc.subjectsales promotionen
dc.subjectprice discounten
dc.subjecthierarchy-of-effects theoryen
dc.subjectprospect theoryen
dc.subjectmarket valueen
dc.subjecttourism marketingen
dc.titleThe Effect of Tangible Promotions on an Intangible Environmenten
dc.title.serialJournal of Travel Researchen
dc.typeArticle - Refereeden
dc.type.dcmitypeTexten
dc.type.otherArticleen
dc.type.otherEarly Accessen
dc.type.otherJournalen
pubs.organisational-group/Virginia Techen
pubs.organisational-group/Virginia Tech/Pamplin College of Businessen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/Hospitality and Tourism Managementen
pubs.organisational-group/Virginia Tech/All T&R Facultyen
pubs.organisational-group/Virginia Tech/Pamplin College of Business/PCOB T&R Facultyen

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