• Title/Summary/Keyword: customer's value

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The Dynamic Effects of Customer Satisfaction on Firm's Profitability and Value (기업의 수익성과 가치에 미치는 고객만족의 동태적 영향)

  • Yi, Youjae;Cha, Kyoung Cheon;Lee, Cheonglim
    • Asia Marketing Journal
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    • v.10 no.1
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    • pp.1-23
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    • 2008
  • It is natural that firms would like to increase their profits and value through customer satisfaction (CS). It is therefore important for the academic and practical purposes to investigate the relationship between CS and firm's performance. Previous studies about this relationship have examined mainly the current effect of CS on firm's performance. According to the research that many marketing activities have dynamic effects over time, however, the dynamic effect of CS on firm's performance needs to be tested. Failure to assess the dynamic effects might lead to the underestimation of the impact of CS. This study thus attempts to investigate the dynamic effects of CS on firm's profitability and value by panel data analysis. The results show that CS has dynamic effects on firm's profitability and value. There was a significant improvement in model fit compared with the model examining the current effects only. On the other hand, it was difficult to interpret the estimation results of the alternative model incorporating two lagged variables of CS, and there was also a multicollinearity problem.

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A Development of Design Initial Value Module for a Front Group of an Excavator (굴삭기 Front Group 설계 초기값 제안 모듈 개발)

  • Jeon K.H.;Lee S.H.;Noh T.S.;Kim S.T.
    • Proceedings of the Korean Society of Precision Engineering Conference
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    • 2005.06a
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    • pp.127-132
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    • 2005
  • Despite all efforts, many product development projects fail and lead to an introduction of products that do not meet customers' expectations. In general, designers usually relies upon their past experiences of similar products as a source of design knowledge when they work on a new design project. Designers need a set of practical step-by-step tools and methods which ensure a understanding of customers' needs and requirements, as well as a past design experience knowledge. In this paper we propose a design initial value module for an excavator that proposes a key initial design parameter value in an early design stage to improve a design process on Customer Requirements. It makes possible to support designers more effectively, objectively, and easily. Also it can propose better products in terms of a customer satisfaction.

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Customer's Time Orientation: Moderating Effects on the Service Convenience-Shopping Performance Linkages in Retail Contexts (고객의 시간 지향성: 소매업체에서의 서비스 편의성과 쇼핑 성과의 관계에 대한 조절효과)

  • Kim, Mi-Jeong;Park, Chul-Ju
    • Journal of Distribution Science
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    • v.14 no.2
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    • pp.123-133
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    • 2016
  • Purpose - Understanding how service convenience drives shopping performance is imperative for retailers such as department and large discount stores. Retailers have to enhance shopping productivity by reducing the costs of shopping, as convenience triggers customers' perceived shopping value, leading to customer satisfaction, and ultimately patronage behavior. Consumers, generally considering time as a scarce resource, are more sensitive to the time costs of tasks in regard to shopping trip, differently from forming perceptions of convenience in time orientation. Therefore, this study attempts to examine the moderating effects of consumers' time orientation on the relationships among service convenience of retailers and shopping performances such as shopping value and service performances. Research design, data, and methodology - The department and discount store chains were chosen as the point of analysis in this study. Data were collected from a survey of real-life consumers and all respondents were screened to ensure only those who had visited in the department and discount store chains within past six month prior to the day of data collection. Out of 600 self-reported surveys that were distributed, a total of 530 responses were returned and after excluding 20 incomplete responses, the final sample size was 510. The three hypotheses were proposed and tested in this study. The one hypothesis was on the moderating effects of time orientation for the effects of service convenience on shopping value (hedonic and utilitarian shopping value). The other two hypotheses were on the comparisons between high and low time-oriented customers with the effects in shopping value from service performance. Hierarchical moderated regression analysis was used to test the hypotheses. Results - The results suggest that the effect of service convenience on utilitarian shopping value and the positive effect of utilitarian shopping value on customer satisfaction are greater in low time orientation than high time orientation customers. Conversely, when customers are highly oriented toward time, the effects of hedonic shopping value on customer satisfaction and revisit intention are greater than for customers who are lowly oriented toward time. Conclusions - This study has two-fold significance. First, this study contributes to the consumer behavior and services marketing literature by incorporating customers' time orientation into the service convenience-shopping performance. Although the effect of service convenience on shopping performance might differ from customers' perceptions concerning shopping, there has been little investigation or comparison between customers' perception on time. This study is a first attempt to consider how the effects of service convenience on shopping value and service performance vary with differing levels of customers' time orientation. This study advances prior studies by showing that the service convenience-shopping value and service convenience-service performance relationships vary across different combinations of the customer's time orientation. The findings of this study suggest that the retailers need to enhance the experiential aspects of the stores for their high time-oriented customers. Conversely, for the low time-oriented customers, the retailers should boost the visual distinctiveness and ease of store navigation.

The Effect of Hospital Service Quality on Emotional Attachment, Perceived Value, and Customer Satisfaction (병원서비스품질이 감정적 애착과 지각된 가치 및 고객만족도에 미치는 영향)

  • Sin, Kyung-sook;An, Un-seok
    • Journal of Venture Innovation
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    • v.4 no.3
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    • pp.49-67
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    • 2021
  • This study analyzed the effects of hospital service quality, emotional attachment, and perceived value on customer satisfaction. In particular, the purpose of this study was to understand the role of emotional attachment and perceived value in the relationship between hospital service quality and customer satisfaction. For this purpose, the results of structural equation model analysis with the data collected by conducting a survey on customers visiting small and medium-sized hospitals were as follows. First, hospital service quality felt by hospital customers had a significant effect on emotional attachment and customer satisfaction, but had no significant effect on perceived value. Second, the emotional attachment felt by customers who visited the hospital had a significant effect on perceived value and customer satisfaction. Third, emotional attachment felt by customers in the relationship between hospital service quality and customer satisfaction had a significant mediating effect. Through the above results, it was confirmed that the service quality felt by customers visiting the hospital leads to attachment to the doctor's competence and medical technology competency, which leads to an increase in customer satisfaction through this attachment. The implications obtained based on these results are as follows. In order for the service quality felt by the customers who visit the hospital to lead to customer satisfaction, above all, it is important to focus on the emotional attachment they can have and find a strategy to improve the service quality. In other words, it is necessary to establish excellent medical staff and medical technology so that hospital customers can have high confidence in the competence of doctors and medical technology, and establish a public relations strategy that can effectively display these competences. Through these efforts, hospital customers will feel a strong attachment to doctors and medical technology, which will increase their satisfaction with the hospital.

Your Expectation Matters When You Read Online Consumer Reviews: The Review Extremity and the Escalated Confirmation Effect

  • Lee, Jung;Lee, Hong Joo
    • Asia pacific journal of information systems
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    • v.26 no.3
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    • pp.449-476
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    • 2016
  • This study examines how an initially perceived product value affects consumer's purchase intention after reading online reviews with various tones. The study proposes that associations among initially perceived overall product value, degree of confirmation resulting from reading the reviews, and final purchase intention differ across review tones such that 1) when the tone is favorable, the effect of an initially perceived product value is stronger than when the tone is critical, and 2) when the tone is extreme, the effect of confirmation is stronger than when the tone is moderate. The survey was conducted with 276 online shopping mall users in Korea, and most of the hypotheses were supported. This study asserts that the effects of online reviews should be considered together with customer's level of expectation formed prior to reading online reviews, which resulted from extensive search and screening processes that the customer went through before reading online reviews.

The Effects of Service Factors on Customer's Consumption Value and Revisit Intention in Multiplex Cinema Service: Focusing on Multiplex Cinema Service in Korea and Vietnam (멀티플렉스관의 서비스 요인이 소비 가치와 재방문 의도에 미치는 영향: 베트남과 한국 멀티플렉스관 비교)

  • Nguyen, Thi Hanh Dung;Park, Jinseo;Chae, Myung-Su
    • International Area Studies Review
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    • v.21 no.2
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    • pp.197-218
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    • 2017
  • The research ais to examine the relationship among service factors, customer's consumption value and revisit intentions in the multiplex cinema industry focusing on multiplex cinema service in Korea and Vietnam. This research also aims to compare the influence of service factors on consumption values and revisit intention between customers in Vietnam and Korea. Data using for this research were collected in Ho Chi Minh, Vietnam and Seoul, Korea through both offline and online survey. Research findings suggest that service factors significantly influence utilitarian values and hedonic values, then both hedonic and utilitarian value have a significant influence on customer's revisit intention in multiplex cinema. Specifically, utilitarian value shows a greater influence on revisit intention in Korea whereas hedonic value shows a greater influence on revisit intention in Vietnam.

A Study on the Inference of Product Design Elements by Fuzzy Decision Making Model (퍼지 의사결정 모델에 의한 감성제품 디자인 요소의 추론에 관한 연구)

  • Yang, Seon-Mo;Lee, Sun-Yo;An, Beom-Jun
    • Journal of the Ergonomics Society of Korea
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    • v.17 no.1
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    • pp.37-46
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    • 1998
  • A human sensibility ergonomics design supporting system was applied to the product development for the customer's satisfaction based on ergonomics technology. The system is composed of three major subsystems such as customer's sensibility analysis, inference mechanism, and presentation technology. The main approaches of the system are to analyze customer's sensibilities and to translate them into product design elements. The purpose of this paper is to develop a design supporting system in which the relationship between customer's sensibility and product design elements is reasoned by a MADM(Multi-Attribute Decision Making) fuzzy model. In this model, three variables such as multiple correlation coefficients, partial correlation coefficients, and category scores were used in reasoning process. The weighted value of the words were also considered in fuzzy decision process. As a case study, the design supporting system with the MADM fuzzy model was applied to the personnel computer design.

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Evaluation of a Load Serving Entity Revenue in the Real Time Pricing Considering Customer's Utility (소비자 효용을 고려한 실시간 요금제의 Load Serving Entity 수익 설계 방안)

  • Noh, Jun-Woo;Kim, Mun-Kyeom;Kim, Do-Han;Yoo, Tae-Hyun;Park, Jong-Keun
    • The Transactions of The Korean Institute of Electrical Engineers
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    • v.60 no.2
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    • pp.266-272
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    • 2011
  • Real Time Pricing(RTP) is used not only to stabilize the price volatility in electricity market, but to hedge the price risk for Load Serving Entity(LSE). This paper presents an efficient method to reduce the risk of the price volatility in real-time electricity market. For designing the RTP, load patterns of customer are calculated by applying the demand elasticity and customer's utility is also analyzed to compute the RTP revenue through the risk-attribute of the LSE. In the end, the distribution of the LSE's profits can be evaluated to lead the optimal RTP value, depending on the level of customer's participation. Results from the case study based on PJM data are reported to illustrate the proposed method.

A Study on the Effectiveness of Pet Naming Types Using Celebrity Endorser (유명인을 이용한 제품 애칭화 유형에 따른 소비자 반응 연구)

  • Kim, Hyejin;Cho, Chang-Hoan
    • The Journal of the Korea Contents Association
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    • v.17 no.1
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    • pp.532-549
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    • 2017
  • This study identifies the pet-name using the celebrity's endorser and the pet-naming effect by the subject of creating brand identity. For this study, pet-naming types are made up of 3 types(non pet-named/pet-naming by company intention/pet-naming by customer's word of mouth). As the results of this study, pet-naming types affects the perceived value. The perceived value has a perfect mediating effect between pet-naming types and consumer response. Also, the level of informative interpersonal influence has significant interaction effect between pet-naming types and perceived value. The research, therefore, reaches several important conclusions. First, when the pet-naming types were consisted, customer's brand identity creating phenomenon was included. Second, pet-naming types affects the confirmed perceived value which is the customer's view. Third, susceptibility to interpersonal influence was differently identified with normative interpersonal influences and informative interpersonal influences. Furthermore, this study analyzes the market's behavior trends, and in extend the progression of pet-name marketing.

The determinants of increasing privacy concerns in the mobile apps

  • Baek, Young-Mi;Ohk, Kyung-Young
    • International Journal of Contents
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    • v.8 no.2
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    • pp.43-51
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    • 2012
  • This study identifies the determinants of increasing privacy concerns in the mobile apps. The privacy affecting factors will be divided into the 3 categories on the basis of both users' and developers' perspective. First, this study explores whether the users' seeking value affects concern of the mobile apps privacy. Second, gender gap on the mobile privacy sensitivity will be tested. Third, this study identifies the meaning of apps developers' providing toolkit in the users' sensitivity on the privacy. The result showed that innovation among the customer's characteristics was identified the most significant factor to affect the mobile app privacy sensitivity. Ethical norm related variables (ethical identity, subjective norm and utilitarian value) were also identified as the meaningful variables in the mobile app privacy. Toolkits provided by app developers are also appeared a significant variable to affect the customer's app privacy sensitivity negatively. Finally gender also appears the meaningful factor in the mobile app privacy sensitivity.