Creating and Validating a Measure of Customer Equity in Hospitality Businesses: Linking Shareholder Value With Return on Marketing

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dc.contributor.authorHyun, Sunghyup Seanen
dc.contributor.committeecochairPerdue, Richard R.en
dc.contributor.committeecochairMurrmann, Suzanne K.en
dc.contributor.committeememberSirgy, M. Josephen
dc.contributor.committeememberMcCleary, Ken W.en
dc.contributor.departmentHospitality and Tourism Managementen
dc.date.accessioned2014-03-14T20:14:10Zen
dc.date.adate2009-08-17en
dc.date.available2014-03-14T20:14:10Zen
dc.date.issued2009-07-16en
dc.date.rdate2009-08-17en
dc.date.sdate2009-07-21en
dc.description.abstractUnderstanding the contribution of marketing to the shareholder value of a company has been a major challenge for marketing research. The purpose of this dissertation was creating and validating an attitudinal measure of customer equity in hospitality businesses, thus providing a link between return on marketing and the shareholder value of a company. The theoretical background of the customer equity construct was examined, and then systematic scale development processes were initiated. The results produced two concise scales: (1) 17 items that represent the six dimensions of customer equity in the restaurant industry and (2) 19 items that represent the six dimensions of customer equity in the hotel industry. Six dimensions of customer equity achieved strong convergent validity, discriminant validity, and internal consistency, indicating unidimensionality of the constructs. To further validate the newly developed scale, criterion validity was checked in correlation with six criterion measures using data collected from 590 hospitality industry consumers. The results demonstrate that customer equity closely reflects the shareholder value of a company. Also, it was found that value equity, brand equity, relationship equity, and service quality are significantly and positively correlated with overall customer equity of a company. In conclusion, customer equity represents the long-term value of a company, and reflects shareholder value of the company, thus providing a link with return on marketing investments. Theoretical and managerial implications are discussed.en
dc.description.degreePh. D.en
dc.identifier.otheretd-07212009-100535en
dc.identifier.sourceurlhttp://scholar.lib.vt.edu/theses/available/etd-07212009-100535/en
dc.identifier.urihttp://hdl.handle.net/10919/28350en
dc.publisherVirginia Techen
dc.relation.haspartSurveyOfEarnedDoctorates.bmpen
dc.relation.haspartDissertationSunghyupHyun0817.pdfen
dc.relation.haspartIRBapprovalletter.pdfen
dc.rightsIn Copyrighten
dc.rights.urihttp://rightsstatements.org/vocab/InC/1.0/en
dc.subjectrelationship equityen
dc.subjectbrand equityen
dc.subjectvalue equityen
dc.subjectSERVPERFen
dc.subjectfirm valuationen
dc.subjectcustomer lifetime valueen
dc.subjectshareholder valueen
dc.subjectCustomer equityen
dc.titleCreating and Validating a Measure of Customer Equity in Hospitality Businesses: Linking Shareholder Value With Return on Marketingen
dc.typeDissertationen
thesis.degree.disciplineHospitality and Tourism Managementen
thesis.degree.grantorVirginia Polytechnic Institute and State Universityen
thesis.degree.leveldoctoralen
thesis.degree.namePh. D.en

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Theses and Dissertations, Hospitality and Tourism Management (HTM)