The term value can have as many definitions as the people you ask. In most questionnaires administered to folks the concept is viewed as the relationship between quality and price -- a service or product gets higher value ratings as the benefits offered are expanded or the price is reduced. However, does satisfying this definition of value really guarantee a customer's loyalty? Often, this is not the case since every strong competitor in a marketplace will offer a decent package of services at a competitive price.
So my question is: How do you, as a veteran or novice road warrior, assess value when booking a room at a Marriott or another chain?
Is it price driven? Does the concept of value involve the recognition of brand quality? Does a history of brand experience help? What part of the calculus involves loyalty program membership?
If there is a perception that the loyalty program is somehow becoming less advantageous to you as a member does this cause a drop in the perceived value of the stay?
Maybe this is too esoteric for Insiders but what the heck! Let me know what you think?