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http://dx.doi.org/10.17495/easdl.2016.4.26.2.117

Study on Price Sensitivity at University Cafeterias - Focus on Seoul and Chungcheong Area -  

Lee, Eun-Yong (Dept. of Hotel Management, Kyung Hee Cyber University)
Park, Kyu-Eun (Dept. of Food Service Management, Kyung Hee University)
Jeon, Yu-Jung (Dept. of Hotel and Tourism Management, Far East University)
Publication Information
Journal of the East Asian Society of Dietary Life / v.26, no.2, 2016 , pp. 117-124 More about this Journal
Abstract
As the number of cafeterias at universities has increased, studies on student perception of price sensitivity at cafeterias have gained increased attention. Therefore, the study investigated the relationship between students and university cafeterias according to price sensitivity measurement (PSM). According to the analysis, the indifference price (IDP) was 3,444.06 Korean Won while the subsequent cumulative distribution percentage was approximately 17.68%. The optimal pricing point (OPP) was 3,233.73 Korean Won and the stress price (IDP-OPP) was 210.33 Korean Won. The point of marginal expensiveness (PME) was 4,602.24 Koean Won and the point of marginal cheapness (PMC) was 2,036.29 Korean Won. Therefore, the range of acceptable prices (RAP) was established as 2,565.95 Korean Won. In addition, the study examined differences between price sensitivity measurement (PSM) for the respondent subgroups. Hence, the results will provide a practical background for development of business plans for university cafeterias.
Keywords
University cafeteria; university student; price sensitivity; Seoul and Chungcheong area;
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Times Cited By KSCI : 6  (Citation Analysis)
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