Effects of Perceived Choice Attributes in Traditional Markets and Relationship Quality: Moderating Effects of Consumption Emotion and Consumer's Value

전통시장 선택 속성이 관계품질에 미치는 영향 : 소비감정의 조절효과와 소비자 가치의 매개효과

Purpose - This study examines college students' perceived choice attributes in traditional markets and the relationship quality. We study the relationships between attributes that common people look for while choosing a store (e.g., product, service, advertising, and atmosphere), consumption emotion, consumer's value, and relationship quality. Research design, data, methodology - In order to verify the relationship between choice attributes and relationship quality, and moderating (i.e., consumption emotion) and mediating effects (i.e., customer value), we collected data from 202 consumers in Gyeonggi province to test the theoretical model and its hypotheses. For this purpose, this study, utilized an empirical methodology. Results - First, contrary to the previous research findings involving college students, this study observed that four factors of store choice attributes at a traditional market were important to consumers in heightening the relationship quality. Specifically, product (β = .608, p < .01), service (β = .351, p < .01), advertising (β = .237, p < .01), and atmosphere (β = .425, p < .01) are significantly related to relationship quality. Second, consumers selected product (β =. 521, p < .01) as the most important attribute. Atmosphere (β = .254, p < .01) and service division (β = .148, p < .05), in this order, are the other important factors in this regard. However, advertising (β = -.112, p = .100) is not statistically significant. To improve and develop the relationship quality with consumers, traditional markets should ensure supply of suitable products and goods, improve store atmosphere by modernizing facilities, and educate merchants to improve their services. Third, the results of the moderating effects, although marginally statistically significant, suggest that for the consumers with low consumption emotion for traditional markets, an affirmative experience of products and store atmosphere heightens their values. In addition, the consumers having low consumption emotion who could promote consumer values were found to improve and develop a marginally significant relationship quality. Finally, the study revealed that the consumer's value exhibited a complete mediation effect in the relationships between service and relationship quality, and advertising and relationship quality and a partial mediation effect in the relationships between product and relationship quality, and atmosphere and relationship quality. Conclusions - Consumer satisfaction is important to increase the competitiveness of traditional markets, and products and store atmosphere are important attributes to increase the relationship quality. Specifically, merchants should supply different products, modernize their facilities, and improve store atmosphere to compete in traditional markets. In addition, traditional markets should provide value and competitive prices to attract consumers, and should maximize the consumer's value and promote the consumption emotion. Traditional markets should evolve to accommodate changes in the consumer's value and invest in not only functional elements but also symbolic elements.