Evaluating service upgrade in ports: The implication of consumer experience in the new maritime silk road

IF 4.8 2区环境科学与生态学 Q1 OCEANOGRAPHY

Ocean & Coastal Management Pub Date : 2025-02-01 DOI:10.1016/j.ocecoaman.2024.107533

Jihong Chen , Tingfang Li , Huida Zhao

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Abstract

Owing to volatile demand and turbulent shipping markets, ports face unprecedented challenges regarding whether they should upgrade their services in the new Maritime Silk Road. This study uses the Hotelling model to discuss the influence of upgrading services on a port's equilibrium strategy from the consumer experience perspective. The results revealed: First, upgrading services provides better consumer experience for those who are willing to pay an extra cost, while ports gain higher economic benefits. Second, the extent of the service upgrade and the upgraded service's cost dictate whether the port will enjoy higher profits from the upgraded service. Third, with investments in upgrading service and market expansion, the port's profit curve exhibits an inverted U-shape. Accordingly, ports should attach greater significance to consumer experience in the new MRS, and thoughtfully control the level of service upgrade and scale of market expansion to mitigate the adverse impacts on the port's profitability.

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来源期刊

Ocean & Coastal Management 环境科学-海洋学

CiteScore

8.50

自引率

15.20%

发文量

321

审稿时长

60 days

期刊介绍： Ocean & Coastal Management is the leading international journal dedicated to the study of all aspects of ocean and coastal management from the global to local levels. We publish rigorously peer-reviewed manuscripts from all disciplines, and inter-/trans-disciplinary and co-designed research, but all submissions must make clear the relevance to management and/or governance issues relevant to the sustainable development and conservation of oceans and coasts. Comparative studies (from sub-national to trans-national cases, and other management / policy arenas) are encouraged, as are studies that critically assess current management practices and governance approaches. Submissions involving robust analysis, development of theory, and improvement of management practice are especially welcome.