Customer value amongst tourists: A conceptual framework and a risk‐adjusted model

Abstract

This study presents a theoretical analysis along with a conceptual framework that combines research findings in consumer behaviour, marketing and tourism. Services, in general, are perceived to be riskier than goods and tourism services, especially, have been considered as critical in tourist' perception of risk. Hitherto, little attention has been paid to the influence of perceived risk on customer value in tourism. Thus, a conceptual framework, developed with respect to perceived risk and customer value amongst tourists, is presented. Since the proposed model of customer value will have to be validated, propositions for future research are discussed.