AN INVESTIGATION INTO THE ROLE OF PACKAGING DESIGN ELEMENTS ON PERCEIVED VALUE AND PRICE FAIRNESS: A MODERATING EFFECT OF AGE

Abstract

Packaging design is a crucial tool for strengthening product competitiveness among both in-store and online marketing. Companies are paying attention to improving competitiveness by taking advantage of logos, colors, graphics, and appropriate textual messages on packaging, with an aim to raise their market share relative to other competitors. For tourism entrepreneurs, a well-designed package is a crucial part of the marketing strategy. This can help them to stand out in a crowded market, communicate their local product message, and increase the likelihood of tourists’ decisions to buy. The key purpose of this paper is to bridge a research gap in souvenir packaging design literature by investigating the causal relationships between the souvenir package design elements and perceived value, concerning price fairness and willingness to purchase food-related souvenirs. Data were gathered from a total of 402 respondents to investigate the causal relationships through Structural Equation Modeling analysis (SEM). The findings and implications may make valuable contributions for tourism entrepreneurs and souvenir packaging designers, in establishing the purchasing intentions of new and existing customers, and expanding the knowledge of visual package design theory in the souvenir industry.