Experience composite worth : a combination of experience quality and experience value

Abstract

This research suggests that experience quality and experience value be combined into a single multi-dimensional construct, termed experience composite worth. It briefly describes customer experience, experience quality and experience value and the overlap in the dimensions used in outlining experience quality and experience value. Pearson’s product moment correlation performed on a dataset describing the guesthouse experience in Ghana showed strong positive correlations between 11 dimensions proposed to measure the experience. A confirmatory factor analysis indicated the existence of a single latent factor, namely experience composite worth. Experience composite worth is described as the customer’s perception of the trade-off between the tangible, intangible and emotional benefits and sacrifices associated with the complex combination of the characteristics, elements and dimensions of unique experiences co-created by the customer across a series of functional and experiential interactions with all aspects of the organisation. Experience composite worth can therefore result from, and be impacted by, all touch points spanning the customer’s journey. This study creates opportunities for much further research into the proposed concept of experience composite worth, its components, measurement and impact on customer satisfaction and behaviour.