Two factor model of consumer satisfaction: International tourism research

We applied theories of behavioral economics and conducted a field research on 881 tourists from China visiting Seoul through guided tour programs. We randomly assigned participants to study conditions based on theories of expectation, reciprocity, and peak-end rule. At the end of the tour, participants evaluated various aspects related to tour satisfaction and general impression of the city. A confirmatory factor analysis supported that these variables can be explained by two correlated factors, identified as the Current Satisfaction Factor (CSF) and the Future Behavior Factor (FBF). The multiple indicator multiple causes (MIMIC) model showed that CSF was impacted by expectation and tour season, and FBF by expectation, tour season, and first visit. Our results suggest that providing additional information before each activity can improve tourism satisfaction and non-manipulated variables such as tour season and first visit can be incorporated to further enhance tourism satisfaction.