Retailer Success: Value and Satisfaction
A finite number of core elements characterize every discipline. What are the core concepts of marketing? Among marketing outcomes, consumer satisfaction represents a candidate for a core marketing concept. In many cases, marketing practitioners and academ
- PDF / 309,933 Bytes
- 3 Pages / 595.276 x 790.866 pts Page_size
- 100 Downloads / 176 Views
ue as a get versus give trade-off from the customer’s perspective. In other words, what is the net gratification obtained from the consumption of service? Babin, Darden, and Griffin (1994) take value derived from a shopping experience and break it into two components: hedonic and utilitarian value. The personal shopping value scale (PSV) consists of utilitarian and hedonic value. Utilitarian value represents the ability to complete efficiently the shopping task while hedonic value represents the emotions and positive feelings generated from the shopping task. We define utilitarian value as the ability to complete a task while hedonic value is the extent to which the customer enjoys the experience for the sake of the experience rather than any form of task completion. On the other hand, Fornell (1992) developed the Customer Satisfaction Barometer (CSB), which is a “weighted composite index based on annual survey data from customers of about 100 leading companies in some 30 industries.” The intention of the CSB is to predict future performance. This index’s intent is to provide a snapshot of the health of the (1) country, (2) industry, and (3) individual firm. The idea is that the higher the index, the less customers will switch. The three measures for satisfaction are general satisfaction, expectancy disconfirmation, and comparison to an industry standard. The authors themselves realize that skewedness is problematic in that 80 percent of customers are satisfied. If everyone is satisfied but companies still show a disparity in performance, then what is driving this apparent disparity? METHODLOGY Respondents are drawn from a national sampling frame of U.S. consumers. In a method similar to that used in the American Consumer Satisfaction Index studies, each respondent rated retailers on five single-item measures including satisfaction, hedonic value, utilitarian value, overall value, and loyalty. The retailers were selected based on their inclusion in the American Consumer Satisfaction Index surveys. The wording used for each single-item scale is provided below: x x x
x x
Hedonic value: Think about a typical shopping trip at each retailer shown below. Rate each retailer on the extent to which the shopping trip itself is enjoyable or exciting. In other words, the visit is worthwhile even if you don’t buy anything. Utilitarian value: Please rate each retailer below based on the extent to which you are able to accomplish the specific task of shopping (find products you need to buy, buy them at a reasonable price). O means that zero percent of the task would get completed and 100 means that 100 percent of the task would get completed. Overall value: Overall, think about everything gained from your shopping experience with these particular retailers weighed against all the costs of shopping in these stores, and rate the overall value you received from your most recent interactions with that retailer. A score below 50 means the costs outweighed the benefits. A score above 50 means the benefits outweighed the costs. Satisfac
Data Loading...
