Effects of Brand, Price, and Risk on Customers' Value Perceptions and Behavioral Intentions in the Restaurant Industry

ABSTRACT This study reexamines the antecedents and consequences of the value-formation process by simultaneously considering pre- and post-purchase decisions in the restaurant management context. The model in this study integrates brand, price, and risk effects on customer value formation. Variety-seeking behavior in restaurant patronization is also considered to better understand customers' behavioral intentions. Results showed that these variables impacted perceived value and compared value in different ways for pre- and post-purchase decisions. Discussions include the role of each variable in the value process. Managerial implications are addressed and directions for future research are suggested.