The antecedents and consequences of perceived price fairness and price satisfaction: A research on dynamic pricing practices in the hospitality sector

Today, many businesses operating in different service sectors have started to implement dynamic pricing strategies within the scope of revenue management in order to continue their existence and increase their profitability due to the increase in competition.Businesses aim to maximize their revenues by instantly updating product and service prices through a dynamic pricing strategy. One of the most important elements in the success of the dynamic pricing process is price fairness. For this reason, businesses need to understand very well what the concepts of fairness and unfairness are, give a full answer to which price will be perceived as fair, and make consumers feel that the price they pay is fair. Price fairness evaluation occurs in three different ways: price equality, advantageous price inequality and disadvantageous price inequality. Price equality generally causes a perception of fairness. The perception of price inequality leads to the conclusion that the price is unfair. In this context, the main purpose of this research is to reveal the antecedents and consequences of perceived price unfairness and price satisfaction within the framework of the advantageous price scenario and the disadvantageous price scenario. The aim of the research is to reveal the effect of internal and external attribution on the formation of perceived price unfairness and price satisfaction. On the other hand, it was aimed to measure the effect of perceived price unfairness and price satisfaction on negative word of mouth communication. The other aim of the research is to determine the moderating role of perceived value in the relationship between the variables discussed in the research. Within the scope of the research, 839 respondents who had purchased a holiday through online channels at least once before were reached. Of these, a survey form containing the advantageous price scenario was applied to 384 respondents, and a disadvantageous price scenario survey form was applied to 455 respondents. The data obtained from the respondents were analyzed using the appropriate statistical package program used in social sciences and the Smart PLS 4.0.9.5 program. Additionally, when examining the moderating effect of perceived value on the relationships between internal attribution, external attribution, perceived price unfairness, price satisfaction, and negative word of mouth, the two-stage approach, suggested by Hair vd., (2021), was preferred. According to the results of the research, it was determined that internal attribution did not have a significant effect on perceived price unfairness in both advantageous and disadvantageous price scenarios. On the other hand, it turns out that external attribution has a significant effect on perceived price unfairness in both scenarios. The effect of internal attribution on price satisfaction is positive in both scenarios. The effect of external attribution on price satisfaction was measured as positive only in the advantageous price scenario. However, in both scenarios, the effect of perceived price unfairness on price satisfaction is negative. Again, in both scenarios, it was revealed that the effect of perceived price unfairness on negative word of mouth communication was positive. The effect of price satisfaction on negative word of mouth communication was only significant in the disadvantageous scenario. It has been determined that perceived value has a moderating role in the relationship between perceived price unfairness and price satisfaction only in the disadvantageous price scenario. Keywords: Dynamic Pricing, Perceived Price Unfairness, Price Satisfaction, Perceived Value.