Browse > Article
http://dx.doi.org/10.14400/JDC.2016.14.9.123

The Impact of Customer Value on Relationship Continuity -Focusing on transaction value, relationship value, appraisal value-  

Kim, Hyang-Mi (Group Relations Unit, CEO office, KT)
Lee, So-Young (Dept. of Information Management, Hoseo Graduate School of Venture)
Publication Information
Journal of Digital Convergence / v.14, no.9, 2016 , pp. 123-132 More about this Journal
Abstract
This study starts from the research question that "Why some companies decide to keep working in partnership even when they are not satisfied with the partner companies simply because they are old business partners." The authors try to find the answer in terms of customer value considering the phases of B2B transaction spectrum: transaction value, relationship value and appraisal value implementing empirical research. The result shows that the intension to retain the relation with an existing partner is formed by the trade-off between the benefit and cost of both contract value and relationship value and not the sole value was dominant. The unique point of the study is that current study is considering these two factors as dependent variables which affect the relationship continuity which is not the case in existing researches.
Keywords
Customer Value; Transaction Value; Relationship Value; Appraisal Value; Relationship Continuity;
Citations & Related Records
Times Cited By KSCI : 1  (Citation Analysis)
연도 인용수 순위
1 W. W. Chin, "The partial least squares approach to structural equation modeling", G. Marcoulides (ed), Erlbaum Associates, 1998.
2 J. Cohen, "Statistical power analysis for behavioral sciences", (2nd ed), Lawrence Erlabaum Associates, 1988.
3 A. H. Liu, "Customer value and switching costs in business services: developing exit barriers through strategic value management," Journal of Business & Industrial Marketing, Vol. 21, No. 1, pp. 30-37, 2006.   DOI
4 W. Ulaga and S. Chacour, "Measuring customer-perceived value in business markets: a prerequisite for marketing strategy development and implementation," Industrial Marketing Management, Vol. 30, No. 6, pp. 525-540, 2001.   DOI
5 W. Ulaga and A. Eggert. "Value-based differentiation in business relationships: gaining and sustaining key supplier status," Journal of Marketing Vol. 70, No.1 pp. 119-136, 2006.   DOI
6 J. Barry, and T. S. Terry, "Empirical study of relationship value in industrial services," Journal of Business & Industrial Marketing, Vol. 23, No. 4, pp. 228-241, 2008.   DOI
7 W. Ulaga, "Capturing value creation in business relationships: a customer perspective," Industrial Marketing Management, Vol. 32, No. 8, pp. 677-93, 2003.   DOI
8 A. Ravald and C. Gronroos, "The value concept and relationship marketing," European Journal of Marketing, Vol. 30, No. 2, pp. 19-30, 1996.   DOI
9 R. Normann and R. Ramirez, "Designing interactive strategy: from value chain to value constellation", Chichester, UK: Wiley, 1994.
10 L. Leonidou, "Industrial manufacturer-customer relationships: the discriminant role of the buying Situation," Industrial Marketing Management, Vol. 33, No. 8, pp. 238-253, 2004.
11 P. M. Blua, "Exhcange and power in social life", New York and London, Transaction Publishers, 1964.
12 J. C. Anderson and J. A. Narus, "Business Market Management", Prentice-Hall, NJ., 1999.
13 D. Grewal, K. B Monroe and R. Krishnan, "The effects of price-comparison advertising on buyers' perceptions of acquisition value, transaction value, and behavioral intentions," The Journal of Marketing, Vol. 62, No. 2, pp. 46-59, 1998.
14 J. C. Anderson and J. A. Narus, "A model of distributor firm and manufacturer firm working partnerships," Journal of Marketing, Vol. 54, No. 1, pp. 42-58, 1990.   DOI
15 O. E. Williamson, "The Economic Institutions of Capitalism", New York, The Free Press, 1995.
16 G. C. Homans, "Social behavior as exchange," American Journal of Sociology. Vol. 63, No. 6, pp. 597-606, 1959.   DOI
17 E. K. Clemons, S. P. Reddi, and M. C. Row, "The impact of information technology on the oganization of economic activity: the move to the middle hypothesis," Journal of Management Information Systems, Vol. 10, No. 2, pp. 9-35, 1993.   DOI
18 J. B. Heide and A. M. Weiss, "Vendor consideration and switching behavior for buyers in high-technology markets," Journal of Marketing, Vol. 59, No. 3, pp. 30-43, 1995.   DOI
19 H. K. Kim, S. H. Lee, and J. H. Song, "A study on construct and consequence of relationship quality in B2B," Journal of Digital Convergence, Vol. 8, No. 3, pp. 155-168, 2010.
20 R. P. Bagozzi and Y. J. Yi, "On the evaluation of structural equation models," Journal of the Academy of Marketing Science, Vol.16, No.1, pp. 74-94, 1988.   DOI
21 C. Fornell and D. F. Larcker, "Structural equation models with unobservable variables and measurement error: algebra and statistics," Journal of Marketing Research, Vol. 18, No.3, pp. 382-388, 1981.   DOI
22 M. E. Sobel, "Asymptotic intervals for indirect effects in structural equations models", In S. Leinhart(Ed.). Sociological methodology, San Francisco: Jossey-Bass, 1982.
23 L. Krishnamurhi, T. Mazumdar and S. P Raj, "Asymmetric response to price in consumer brand choice and purchase quantity decisions," Journal of Consumer Research, Vol. 19, No. 3, pp. 387-400, 1992.   DOI
24 S. K. Oh and K. I. Han, "The effects of the marketing communication and the trust on long-term relationship orientation B2B industrial product market," Journal of Digital Convergence, Vol. 10, No. 8, pp. 81-90, 2012.
25 K. B. Monroe and J. D. Chapman, "Framing effects on buyers subjective product evaluations," in Advances in Consumer Research, Vol. 14, Melanie Wallendorf and Paul Anderson, eds. Provo, UT: Association for Consumer Research, pp. 193-197, 1997.
26 R. H. Thaler, "Mental accounting and consumer choice," Marketing Science, Vol.4 No. Summer, pp. 199-214, 1985.   DOI
27 J. E. Urbany and W. O. Bearden, "Reference price effects on perceptions of perceived offer value, normal prices, and transaction utility," in Enhancing Knowledge Development in Marketing, Paul Bloom et al., eds. Chicago: American Marketing Association, pp. 45-49, 1989.
28 V. A. Zeithaml, "Consumer perceptions of price, quality, and value: a means-end model and synthesis of evidence," Journal of Marketing, Vol. 52, No. 3, pp. 2-22, 1988.   DOI
29 A. Sharland, "Sourcing strategy: the impact of costs on relationship outcomes," International Journal of Physical Distribution & Logistics Management, Vol. 27, No. 7, pp. 395-409, 1997.   DOI
30 K. E. K. Möller and P. Torronen, "Business suppliers' value creation potential: A capability-based analysis," Industrial Marketing Management, Vol. 32, No. 2, pp. 109-118, 2003.   DOI
31 D. B. Grisaffe, and A. Kumar, "Antecedents and consequences of customer value: testing an expanded framework," REPORT-MARKETING SCIENCE INSTITUTE CAMBRIDGE MASSACHUSETTS, pp. 21-22, 1999.
32 J. E. Hogan, "Assessing relationship value in business markets", University of North Carolina, Chapel Hill, 1999.
33 A. Eggert and W. Ulaga, "Customer perceived value - a substitute for satisfaction in business markets," Journal of Business and Industrial Marketing, Vol. 17, No. 2/3, pp. 107-118, 2002.   DOI
34 L. Lapierre, "Customer-perceived value in industrial contexts," Journal of Business and Industrial Marketing, Vol. 15, No. 2/3, pp. 122-140, 2000.   DOI
35 J. P. Cannon and C. Homburg, "Buyer-seller relationships and customer firm costs," Journal of Marketing, Vol. 65, No. 1, pp.29-43, 2001.   DOI
36 W. Ulaga and S. Chacour, "Measuring customerperceived value in business markets. a prerequisite for marketing strategy development and implementation," Industrial Marketing Management, Vol. 30, No. 6, pp. 525-540, 2001.   DOI
37 T. Gao, J. Sirgy, and M. Bird. "Enriching customer value research with a relational perspective: evidence from an empirical investigation of organizational buyers' value perceptions," Journal of Relationship Marketing, Vol. 4, No. 1/2, pp. 21-42, 2005.   DOI
38 A. Walter and T. Ritter, "The influence of adaptations, trust, and commitment on value-creating functions of customer relationships," Journal of Business & Industrial Marketing, Vol. 18 No. 4/5, pp. 353-365, 2003.   DOI
39 W. Ulaga and A. Eggert "Relationship value in business markets: the construct its dimensions," Journal of Business-to-Business Marketing, Vol. 12, No. 1, pp. 73-99, 2005.
40 A. H. Liu, M. P. Leach, and K. L. Bernhardt. "Examining customer value perceptions of organizational buyers when sourcing from multiple vendors," Journal of Business Research, Vol. 59, No. 5, pp. 559-568, 2005.