• Title, Summary, Keyword: customer value

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Needs-Based Customer Value Effects of Family Restaurants on Customer Satisfaction and Behavior Intention (패밀리레스토랑의 욕구체계 기반 고객가치가 고객만족, 행동의도에 미치는 영향: 4×4 매트릭스 욕구체계를 중심으로)

  • Kim, Ki-soo;Shim, Jae-Hyun
    • Journal of Distribution Science
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    • v.11 no.12
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    • pp.51-62
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    • 2013
  • Purpose - A pre-study on service quality-based customer value is conducted with the path structure (perceived value of service quality→customer satisfaction→behavior intention) based on the hierarchical model of service quality including interaction and outcome quality, physical environment quality and the SERVQUAL model of process quality, namely, reliability, responsiveness, assurance, empathy, and tangibles. In addition, customer value in the service industry is studied by dividing into the two-way structure of utilitarian and emotional values. This study classifies customer values of family restaurants through the customer value model based on the 4×4 matrix needs system of Jeon and Kim (2009). It illustrates the path structure of customer value→customer satisfaction→behavior intention targeting college students in order to generalize the customer value system of family restaurants. Research design, data, and methodology - This study established seven hypotheses based on the relationship between each type of customer value (food quality, convenience, social, emotional, interior quality, service encounter, and purchasing) and customer satisfaction, and the relationship between customer satisfaction and behavior intention. The study data were collected from students in the Department of Business and Tourism at Kimpo University. In all, 294 survey papers were returned of the 300 distributed: 253 pieces were used in the final analysis excluding 41 with insufficient and less effective answers. For statistical analysis, the statistics software package SPSS 15.0 was used. Results - The results of the analysis are as follows: first, the customer values of family restaurants are classified by seven customer values: goods quality value, emotional value, convenience value, social value, purchasing value, service encounter value, and inner quality value. Second, emotional value, purchasing value, service encounter value, and inner quality value had positive impact on customer satisfaction. In particular, purchasing value through being included in functional value was not classified in the previous study; however, this study could classify and generalize this value in a new way. Finally, customer satisfaction had a positive impact on behavior intention. This showed that college students had behavior intention - repurchase intention and word-of-mouth - because they could be content with the food items on the menu and the service provided by employees. Conclusions - The main points based on the above-mentioned results are as follows. This study with college students as study subjects could be classified into four dimensions, namely, generic value, usage value, purchasing value, and physical value and seven sub-dimensions on customer values of family restaurants based on a 4×4 matrix needs system. Then, to confirm its generalization, the path structure of customer value→customer satisfaction→behavior intention was verified. While existing pre-studies used simplified values by classifying restaurant values largely as utilitarian value and hedonic value, this study classified various forms of customer value, and that customer value especially could be expanded by adding purchasing value. As a result, it is shown that marketers need to diversify their customer services because this study proved that customer values can be classified in various ways based on customer needs.

A Study of the Impact of Customer Value on Relationship Quality and Customer Loyalty (고객가치가 관계품질 및 고객충성도에 미치는 영향: 치과병·의원을 중심으로)

  • Lee, Soo-Wook;Cha, Eun-Kwang
    • Journal of Distribution Science
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    • v.12 no.2
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    • pp.81-93
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    • 2014
  • Purpose - Recent rapid environmental changes in the hospital industry are accelerating the spread of customer satisfaction management. Customers' desires have become diversified and advanced; in the past, customers tended to preferred popularized and standardized care, whereas they now prefer individualized and differentiated care, based on an increase in income. Specifically, this study tries to analyze the mediating effects of factors that affect the configuration portion of customer value and relationship quality (customer trust and relationship commitment) by investigating the impacts and configuration factor of customer value on relationship quality and determining how these factors impact customer loyalty directly or indirectly. Research design, data, and methodology - This study aims to determine the customer value factors that impact the perceptions of dental hospital customers, how these factors impact relationship quality and customer loyalty, and the causal relationship of these factors, and to verify the research model based on previous research. To increase the validity and reliability of the questionnaire, the authors of this study constructed basic questions using measurement tools already verified for reliability and validity in existing studies. In this study, customer value is defined as customers' recognizing value by exchanging goods or services and is measured using a five-point Likert scale using 19 questions about the 4-Ds, such as convenience value, quick service, response value, and trustworthiness. For each question, "very low" was set at 1 point and "very high" at 5 points. Customer trust, relationship commitment, and customer loyalty are also measured using a five-point Likert 5-point scale (1 = very low, 5 = very high) based on previous studies. Results - For customer value, trustworthiness and quick service are shown to have direct significant positive impacts on customer loyalty. For customer value and quality of the relationship (customer confidence and commitment), trustworthiness, response value, confidence value, and quick service are shown to have a significant positive impact on customer truth, in order of impact. For the relationship between customer value and commitment, quick service and response value are shown to have significant positive impact. Customer confidence has a very high positive influence on commitment. For the relationship between the quality of the relationship (customer confidence and commitment) and customer loyalty, customer confidence is shown to have more of an impact than commitment, in terms of a direct influence of customer loyalty. Commitment showed a positive impact on customer loyalty. For the relationship between customer confidence and customer loyalty, commitment showed a mediating effect. Conclusions - Many additional variables could apply; this study focused on customer value, quality of the relationship, and customer loyalty. In particular, there will be significant value in identifying the relationships among customer value, relationship quality, and customer loyalty by using impact factors for customer value; ensuring external validity by expanding denotation and applying the findings to other service industries; and undertaking continuous research. This study has limited generalization potential because the target for this survey was located only in the Seoul area.

Estimating Customer Value under B2B Environment Using Description and Prediction Models (B2B 거래에서 서술모델과 예측모델을 이용한 고객가치 산정)

  • 박찬주;박윤선;주상호;유우연
    • Korean Management Science Review
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    • v.20 no.2
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    • pp.135-149
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    • 2003
  • Developing a proper program for customer evaluation is one of the most imminent tasks to implement CRM (Customer Relationship Management). Design of the Customer Value model is an important key to the customer evaluation progrgm. This paper proposes two models for estimating Customer Value. The first one is a Description Model for Customer Value based on customer CSI (Customer Satisfaction Index) data. This model represents as quantitative numbers what customers feel from the company or the service. The second one is a Prediction Model which employs factor analysis and regression to predict customer value. This paper exploits the two models to evaluate Customer Value as well as for customer behavior prediction.

A CLV (Customer Lifetime Value) model in the wireless telecommunication industry

  • Hyunseok Hwang;Kim, Suyeon;Euiho Suh
    • Proceedings of the Korean Operations and Management Science Society Conference
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    • pp.187-190
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    • 2003
  • Since the early 1980s, the concept of relationship management in marketing area has gained its importance. Acquiring and retaining the most profitable customers are serious concerns of a company to perform more targeted marketing campaigns. For effective CRM (Customer Relationship Management), it is important to gather information on customer value. Many researches have been performed to calculate customer value based on CLV (Customer Lifetime Value). It, however, has some limitations. It is difficult to consider the churn of customers, because the previous prediction models have focused mainly on expected future cash flow derived from customers'past profit contribution. In this paper we suggest a CLV model considering past profit contribution, potential benefit, and churn probability of a customer. We also cover a framework for analyzing customer value and segmenting customers based on their value. Customer value is classified into three categories: current value, potential value and customer loyalty. Customers are segmented according to the three categories of customer value. A case study on calculating customer value of a wireless communication company will be illustrated.

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Affecting Customer Loyalty by Improving Corporate Image and Customer Value through Corporate Social Responsibility Activities (기업의 사회적 책임활동을 통한 기업이미지 및 고객가치 향상이 고객충성도에 미치는 영향)

  • Kim, Jong-Ho;Hwang, Hee-Joong;Song, In-Am
    • Journal of Distribution Science
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    • v.12 no.8
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    • pp.31-42
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    • 2014
  • Purpose - Recently, a variety of activities for practicing the continuing management of domestic and foreign companies have been conducted and further, corporate social responsibility for maximizing the value of stakeholders such as customers, cooperative companies, and the local community emerges as a key business strategy. Accordingly, the issue of whether corporate image and customer value through corporate social responsibility activities positively affect customer loyalty and customer attitude is investigated in this study. Research design, data, and methodology - Corporate social responsibility activities are classified into legal and moral activities, environmental protection activities, economic activities, and community service activities; further, customer values are classified into emotional value, functional value, and social value, to determine the parameters. In addition, the strategic approach direction of social responsibility activities is justified as a strategy for effectively achieving the expected results that corporations seek by proving the effect of these parameters on customer loyalty. Results - The study results can be summarized as follows. First, legal and moral activities, environmental protection activities, economic activities, and community service activities are four types of CSR activities affecting meaningful improvements in corporate image. Second, legal and moral activities affect factors that meaningfully improve customer value, including factors such as emotional value, functional value, and social value, while environmental protection activities affect improvements in the factor of social value only. Third, corporate image affects meaningful improvements in customer value. Fourth, corporate image affects improvements in customer loyalty positively. Fifth, the three factors of customer value, that is, emotional value, functional value, and social value affect meaningful improvements in customer loyalty. Sixth, customer value acts to partly mediate the effect of companies' CSR activities on customer loyalty. As shown in the study results above, it was verified that CSR activities affect meaningful improvements in corporate image and customer value and, in turn, corporate image and customer value affect meaningful improvements in customer loyalty. In addition, it was verified that customer value acts to partly mediate the effects of companies' CSR activities on customer value. Conclusions - Accordingly, the results of this study suggests as follows. First, it was clearly verified that customers' recognition of CSR efforts has a positive effect on corporate image, customer value, and loyalty because CSR activities improve the relationships between customers and corporations by providing customers with value. Second, it was suggested that corporations implement social contribution activities strategically according to the theory that the higher the rate of CSR activities, the better the corporate image and repurchase intention would be, which is a theory verified through practical analysis. Corporations should do this by constructing positive relationships from the value perceived by customers. To summarize the study results in a brief manner, it is suggested by the results of the study that a corporation should conduct CSR more actively to make customers recognize the positive image of their products and services.

A Study on Italian Menu and Its Quality Affecting Customer Value and Customer Satisfaction (이태리 메뉴와 요리품질이 고객가치 및 고객만족에 관한 연구)

  • Lee, Sang-Jung;Jung, Jin-Woo
    • Culinary science and hospitality research
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    • v.12 no.1
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    • pp.173-187
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    • 2006
  • This study explored the quality of menu and customer value and satisfaction in Italian restaurants. From the result of the research, the menu and the quality of hotel restaurants had an important effect on the customer satisfaction, and the menu and its quality were closely related to each other. Specially, the price of the menu had an effect on the customer satisfaction directly. The customer value has a more direct effect than Italian menu and the importance of the menu perceived by the customers in Italian restaurants had a relatively less effect than the importance of menu information. In the result of the factor analysis, the more the menu was perceived appropriately, the better the customer value was. It was approved that Italian menu had positive (+) influence on the customer satisfaction. The more the quality of Italian cooking was perceived, the higher the customer value was. And the higher the customer value was, the better customer satisfaction was.

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Customer Churn Identifying Model Based on Dual Customer Value Gap

  • Hou, Lun;Tang, Xiaowo
    • Management Science and Financial Engineering
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    • v.16 no.2
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    • pp.17-27
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    • 2010
  • The customer churn and the forecast of customer churn have been important research topics for a long time in the academic domain of customer relationship management. The customer value is studied to construct a gap model based on dual customer values; a basic description of customer value is given, then the gaps between products and services in different periods for the customers and companies are analyzed. The main factors that influence the perceived customer value are analyzed to define the "recognized value gap" and a gap model for the dual customer value is constructed. Based on the dual customer gap a con-ceptual model to determine potential churn customers is proposed in the paper.

The Effect of Coffee Shop's Servicescape on the Customer Loyalty - Focused on Jeonju Area (커피전문점의 서비스스케이프가 고객충성도에 미치는 영향 - 전주 지역을 중심으로)

  • Shen, Xiangdong;Bae, Byung-Ryul
    • The Journal of Industrial Distribution & Business
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    • v.9 no.3
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    • pp.89-98
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    • 2018
  • Purpose - Despite the global economic crisis, the numbers of coffee shops used for providing a place for social and cultural interactions show an upward trend and have become an indispensable part in people's daily life in recent years. Under the circumstance of tremendous efforts of searching new management strategies and projects, the concept of servicescape(which has physical environment characteristics) may provide a better alternative. Therefore, the purpose of this study can be broadly divided into 3 key points. First is to investigate the effects of servicescape on customer satisfaction, service value and customer loyalty about Coffee Shops in Jeonju area. Second is to examine the mediating effect of customer satisfaction and service value between servicescape and customer loyalty. Third, there is evidence that indicates the moderating effect among the interaction of customer and staff, brand image and the composition of servicescape, customer satisfaction, service value and customer loyalty. Research design, data, and methodology - This study begins empirical research about users of coffee shops' services. The data of the study is collected from 285 samples of a questionnaire which has been made from Korea and analysed by IBM SPSS 24.0 and IBM AMOS 24.0. Results - The results are reported below: First of all, the composition of condition, functionality, cleanliness and aesthetic characteristics of the servicescape has a significant impact on customer satisfaction and service value. Furthermore, customer satisfaction is identified as a factor to influence service value. Moreover, customer satisfaction and service value are identified as the causal relationship with customer loyalty. Besides, customer satisfaction and service value illustrated the mediation effect between the composition of servicescape and customer loyalty. Finally, the interaction between customer and staff, brand image illustrates the moderated effect. Conclusions - The composition of servicescape contributes to the formation of customer satisfaction and enhancing the customer's perceived service value in coffee shops. By meeting diverse and complex needs of consumers in coffee shop, the service value will not only attract loyal customers, but also increase customer loyalty and profitability. In a word, managers should rely on servicescape to enhance service experience by making differences with other competitors.

An Empirical Study on the Relationship between Customer Value and Repurchase Intentions of Online Business (온라인 비즈니스의 고객가치와 재구매 의도의 관계에 관한 실증연구)

  • Joo, Jae-Hun
    • Asia pacific journal of information systems
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    • v.14 no.4
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    • pp.1-22
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    • 2004
  • Customer value is the source for competitive advantage of online businesses such as Internet shopping malls and portal service. It is important to analyze the relationship between customer value and repurchase in order to provide a guideline of successful online business. The purpose of this paper is to get answers for the following questions. First, what are key components of customer value in online business? Second, What difference exists in the importance or expectance of customer value and its current service level of online business? Finally, what influence relationships exist in customer value and repurchase intentions? Data were collected from 615 respondents who experienced purchase on the Internet shopping malls. This paper developed and empirically tested a model representing the relationships between customer value factors and repurchase intentions as well as difference between the importance of customer value and its service level. The findings here suggested that the service level of customer value was significantly lower than its importance, and customer value factors positively affected the repurchase intentions. Specifically, economy and trust/responsiveness value factors directly affected the repurchase intentions while other factors such as convenience, speed, personalization, community, and emotion value indirectly affected it through trust/responsiveness.

A Study on the Strategic Adoption of Internet based Customer Relationship Management (인터넷 기반 고객관계관리의 전략적 도입에 관한 연구)

  • Roh Kyung-Ho
    • Management & Information Systems Review
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    • v.5
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    • pp.61-79
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    • 2000
  • This research suggests the strategic adoption methodology of Customer Relationship Management. The backgrounds of CRM is the business environment changing that Market power is shifting to the customer who has unprecedented powers of choice today. The strategic adoption of Customer Relationship Management determines the value, needs and preferences of each customer or customer segment. Customer Relationship Strategy is an explicitly defined plan for how a company has decided to connect with, relate to, and focus on its chosen customers to create value. Deliberate decisions must be made, often involving trade-offs, so that investments are aligned with customer needs and value. Plan defined in terms of target customers value proposition, role in value delivery, and risk/reward sharing. All customers are not created equal; specific customers and/or customers segments are more desirable/valuable to pursue. Key premise of CRM is that value can be created by changing company's business model to better connect with customers. Area of service of Customer Relationship Management are as follows. Portfolio strategy, Market Opportunity Assessment, Brand Equity, Market Positioning, Pricing, Channel Strategy, Market Segmentation. Target Market Identification, Customer LifeTime Value Analysis, Customer Profitability, Customer Connections Economics Analysis. The objects of CRM are maximizing customer service effectiveness, improving customer loyalty, increasing customer service efficiency, optimizing intelligence about customer behaviors and preferences.

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