外文翻译
原文
THE EFFECT OF CUSTOMER VALUE, CUSTOMER SATISFACTION, AND SWITCHING COSTS ON CUSTOMER LOYALTY: AN EMPIRICAL STUDY OF
HYPERMARKETS IN TAIWAN
Material Source: SOCIAL BEHAVIOR AND PERSONALITY, 2010, 38(6), 729-740?Society for Personality Research (Inc.)DOI 10.2224/sbp.2010.38.6.729
Author: Ming-Tien
TsaiNational Cheng Kung University, Tainan, Taiwan, ROC Chung-Lin TsaiNational Cheng Kung University and Chang Jung Christian University,Tainan, Taiwan, ROCHan-Chao Chang National Applied Research Laboratories, Taiwan, ROC
Hypermarkets play an increasingly important role in the retail industry in Taiwan. In this study hypermarket customers in Taiwan were surveyed, using switching costs as a variable,to explore the relationship between customer value, customer satisfaction, and customer loyalty. The results indicate that a customer with a more positive perception of the value of products/services has a more positive evaluation of the hypermarket, greater satisfaction, and loyalty. Greater satisfaction combined with greater concern over nonmonetary switching costs also increases customer loyalty to the hypermarket. These findings may help hypermarket operators to develop their businesses further in Taiwan’s competitive retail sector.
In Taiwan, the retail sector is highly competitive and hypermarkets try to appeal to customers by offering lower prices than small-scale retailers and convenience stores. However, the hypermarket sector has entered a saturated phase, with market overlapping occurring and low average profit. With such fierce competition, hypermarket operators must work to reduce costs, retain customers, and increase profits to ensure sustainable development of their businesses.
In this study hypermarket customers in Taiwan were surveyed using switching costs as a moderating variable to explore the relationship between customer value, customer satisfaction, and customer loyalty.
A review of the literature and the empirical evidence showed that rising customer
power gradually replaces business operators to dominate market orientation (Bitner, 1990; Kotler, 2002; Müller, 1991). Bitner considers customer satisfaction as an antecedent variable that positively impacts customer loyalty,while Müller argues that customer satisfaction becomes a key factor for business success. Kotler considers that customers constantly think about what kind of product or service can maximize value, and thus establish an expectation of value as a shopping reference. Customer value expectation can significantly affect customer satisfaction and the likelihood of continued consumption.Lam, Shankar, Erramilli, and Murthy (2004) hold that customer satisfaction has a strong impact on customer loyalty, especially when a customer accounts for significantly lower switching costs. Business operators must pay special attention to customer satisfaction when low switching costs result from a special incident.
Hypermarkets, which are characterized by low gross profits and high turnover rates, have avoided negative gross profits as a consequence of their fierce competition. Hypermarket operators have worked to improve their own brands of merchandise and have created multifunctional shopping environments to satisfy customer demands for one-stop convenience or an extended stay arrangement. In this study it is assumed that the present retail industry should look seriously into continued consumption from the customer perspective to enhance customer value, satisfaction, and loyalty related to customer concern over switching costs. The results of this study will, hopefully, serve as a basis for hypermarket operators to develop further their management and marketing strategies.
THEORETICAL FRAMEWORK AND RESEARCH HYPOTHESES
Customer Value Theory
Because customers have established an expected value as a shopping reference (Kotler, 2002) a business that fulfils customer value expectations is more likely to increase customer satisfaction and the chances of continued consumption. A number of researchers have pointed out that customers are cognizant of value(also termed customer-recognized value: e.g., Engel, Blackwell, & Miniard,1995; Naumann, 1995; Woodruff, 1997). In other studies customer profitability has been analyzed from previous consumption data to estimate lifetime customer value, that is, current and future value of customers to businesses (e.g., Hughes,1994; Mulhern, 1999; Stone, 1995).
Woodruff (1997) considers that customer value comprises customer preferences
over service attributes, performance attributes, and results. According to Sharma and Lambert (1994), a business-expected customer value can be quite different from a customer-expected customer value. A business is likely to make mistakes when it offers what it perceives as value to its customers, resulting from these different perspectives. Therefore, a business should learn to look at customer value from the perspective of customers to minimize the difference between these two perspectives. Customer Satisfaction Theory
In previous research customer satisfaction has been defined as a customer’s overall evaluation of performance for a current offering (Gustafsson, Johnson, & Roos, 2005). Czepiel, Rosenberg, and Akerele (1974) view customer satisfaction as an overall evaluation, representing a sum of subjective reactions from a customer regarding products with varied attributes. Muller (1991) argues that customer satisfaction will become a key factor for business success in the future. Singh (1991) also notes that customer satisfaction is a dimension of multiple items evaluated as a satisfaction measurement, which can vary from business to business.
Ostrom and Iacobucci (1995) also hold that customer satisfaction is a multiple-item measurement that evaluates such items as product price, service efficiency, service personnel attitude, overall business performance, and ideal business service. Kotler (1996) proposes from his integration of various theories that satisfaction is a difference function between perception and expectation Accordingly, customer satisfaction is an expression of pleasure or disappointment resulting from a comparison between perception and expectation of product function/effect. Customer satisfaction is a subjectively positive or negative feeling arising from a comparison between preconsumption expectation and postconsumption perception. The aim of both academic researchers and business performance investigators should, therefore, be to accurately measure the level of customer satisfaction in order to develop appropriate responses. Customer Loyalty Theory
Selnes (1993) points out that customer loyalty involves the likelihood of future consumption, continued service contracts, reduced possibility of brand change,and positive public recommendation. Jones and Sasser (1995) posit that customer loyalty is the willingness of a customer to continue consuming a specific product or service. According to their theory, there are two types of customer loyalty,namely long-term and short-term. The former is genuine customer loyalty,which means that a customer
will not readily turn to another business operator.Customers with short-term loyalty are likely to switch to a different business operator for a better equivalent service. Customer loyalty lies mainly in whether a consumer will continue to purchase a product from the same business operator,translated as the competitiveness of a business in the market. Since a very loyal customer is likely to lead more potential customers to the business, many operators highlight customer loyalty as one of their main business goals.
Fornell (1992) proposes a method to measure customer loyalty in terms of repeated purchase intention and price tolerance. Similar to Jones and Sasser(1995), Oliver (1999) classifies loyalty into two types: short-run and long-term.However, Oliver measures short-run loyalty in terms of word-of-mouth,postpurchase recommendation behavior, and complaints. In contrast, long-term loyalty is identified by four different phases: cognitive, affective, conative,and active. Srinivasan, Anderson, and Ponnavolu (2002) propose two major factors for measuring loyalty: word-of-mouth and price tolerance. A customer with greater loyalty will have a higher degree of price tolerance and a greater willingness to make a recommendation to his/her acquaintances.
The Relationship between Customer Value, Customer Satisfaction,and Customer
Loyalty
According to Oliver (1999), customer value will result from customer perceptions and experiences in the course of consumption.An optimal customer perception and experience is conducive to continued consumption.Butz and Goodstein (1998) consider that an unexpected higher level of customer value will result in a strong customer connection and greater customer loyalty. Hence,in this study the following hypothesis was proposed:
H1: Customer value will have a positive effect on customer loyalty Reichheld and Sasser (1990) hold that a satisfied customer will have greater customer loyalty, which suggests a much greater chance for repeat purchases in the future. In their study of customer satisfaction Anderson and Sullivan (1993)found that, with antecedent and consequence variables, customer satisfaction has a positive effect on customer-repeat purchase behavior, an expression of customer loyalty. Hence, in this study the following hypothesis was proposed:
H2: Customer satisfaction will have a positive effect on customer loyalty Woodruff (1997) found that an overall evaluation of products or services by a
customer is a perception response resulting from multiple consumption experiences. A positive response corresponds to a high level of satisfaction,which infers a greater likelihood of retaining the customer. In line with this finding and Kotler’s (2002) proposal that a customer will constantly estimate the maximal value of a product or service and establish an expectation of value as a shopping reference, the following hypothesis was proposed:
H3: Customer value will have a positive effect on customer satisfaction.
译文
转换成本对顾客价值，顾客满意度和顾客忠诚的影响：一个在台湾大
卖场的实证研究
资料来源：SOCIAL BEHAVIOR AND PERSONALITY, 2010, 38(6), 729-740?Society for Personality Research (Inc.)DOI
10.2224/sbp.2010.38.6.729
作者：Ming-Tien TsaiNational Cheng Kung University, Tainan, Taiwan, ROC Chung-Lin TsaiNational Cheng Kung University and Chang Jung Christian University,Tainan, Taiwan, ROCHan-Chao Chang National Applied Research
Laboratories, Taiwan, ROC
资料来源：
在台湾零售业中大卖场发挥着越来越重要的作用，在这项研究中对台湾量贩店的顾客进行了调查，利用转换成本作为一个变量，来探讨顾客价值，顾客满意和顾客忠诚之间的关系，结果表明对产品/服务的拥有更加积极价值观念的客户对大卖场拥有更加大的满意度和忠诚度，更高的满意度与更加关注非货币类的转换成本的同时也增加了大卖场的客户忠诚度。这些发现可能有助于开发大型商场的经营者在竞争激烈的台湾零售部门进一步的提升。
在台湾，零售业竞争激烈，大卖场尝试呼吁通过提供比小规模的零售商和便利店更低的价格给客户。然而，超市业已经进入了饱和阶段，市场出现重叠和低平均利润。在这样激烈的竞争中，大型超市经营者必须努力降低成本，留住客户，并增加利润，以确保其业务的可持续发展。
转换成本对顾客价值,顾客满意度和顾客忠诚的影响：一个在台湾大卖场的实证研究【外文翻译】
