Customer Perceived Value Towards Convenience Stores in Malaysia: The Influence on Customer Satisfaction, Loyalty and Retention

Abstract

Numerous researchers have centred their attention on Customer Perceived Value towards brands but only a few have focussed on CPV towards convenience stores. The main purpose of the research is to measure the CPV dimensions and identify which dimension infl uences customer satisfaction and as a result leads to customer loyalty and retention for convenience stores in Malaysia. Independent variables such as functional, conditional, social, emotional and economic values were taken into account; the number of 200 customers were sampled, using a blend of explanatory and descriptive research design and a quantitative research method. The reliability was measured ranging from (α =.560-.966) using Cronbach's alpha. The application of descriptive statistics and correlation analysis was intended to explain the relationship between the independent and dependent variables of the research, whereas the inferential statistics and linear regression were used to test the hypotheses; with a signifi cance level p ≤ 0/05 whereby the fi ndings of the research showed that economic value has a high infl uence on customer satisfaction as well as loyalty and retention. However, based on the fi ndings customers are highly infl uenced by the economic value they get from a convenience store. Among the realistic contributions are positioning value pricing, formulating a strategy that encourages convenience value, connects to customers' emotions during shopping and also creates a diverse approach that sets a convenience store apart from another. However, there is a need for future studies to extend the model of this research by adding other perceptions such as demographic features of the consumers. JEL classifi cation: M310, M390

Predicting Consumer Perception and its Impact on Purchase Intention for Residential Property Market

“…Criticism, However, it is also similarly vital for consumption values in terms of preferences of product (Candan, et al, 2013) and this theory merely show that the choice made by customers as well as merely dealing with voluntary and logical selections instead (Animashaun, et al, 2016). Hence, the uncommon functionality needs to be simplified (Animashaun, et al, 2016 (Lundgren, 2013) and it allows for both benefits and sacrifices included in any action that increase customer value (Klanac, 2013). Criticism, However, the difference between the characteristics of the object and higher level concepts does not exists in this theory (Klanac, 2013) as well as being unable to support the sources of value identification and reasons foundations of values provision (Klanac, 2013).…”

“…From the literature review, it can be said that most researchers adopted independent variables from theories such as the perceived quality and value from Zeithaml (1988), Holbrook (1999), and Woodruff (1997) and which they are mostly used in researches and study done by Moosa & Hassan (2015) and Animashaun et al (2016), as they are considered to be more appropriate frameworks in evaluating customer perceived value. However, this study adopts Theory of Consumption Value by Sheth et al (1991) as it is considered to be excellent in analyzing the diverse traits and attributes of products through exploring customers' opinion, which fits the objective of this study.…”

“…Developed out of the effects of personal values on consumer behaviour, consumption values (Sheth et al, 1991) is an important model that shows why a product is preferred. Usefulness, strength of this theory is its simplicity as it is simpler in comprehending customer perceived value through searching its dimensions (Aulia, et al, 2016) and this model is excellent in assessing the diverse traits and attributes of products through exploring customers' judgement (Animashaun, et al, 2016). Criticism, However, it is also similarly vital for consumption values in terms of preferences of product (Candan, et al, 2013) and this theory merely show that the choice made by customers as well as merely dealing with voluntary and logical selections instead (Animashaun, et al, 2016).…”

“…Usefulness, strength of this theory is its simplicity as it is simpler in comprehending customer perceived value through searching its dimensions (Aulia, et al, 2016) and this model is excellent in assessing the diverse traits and attributes of products through exploring customers' judgement (Animashaun, et al, 2016). Criticism, However, it is also similarly vital for consumption values in terms of preferences of product (Candan, et al, 2013) and this theory merely show that the choice made by customers as well as merely dealing with voluntary and logical selections instead (Animashaun, et al, 2016). Hence, the uncommon functionality needs to be simplified (Animashaun, et al, 2016 (Lundgren, 2013) and it allows for both benefits and sacrifices included in any action that increase customer value (Klanac, 2013).…”

“…Model: This theory ascertains the product cost or price perceived by customers as a method in assessing the perceived sacrifice against perceived sacrifice (Animashaun, et al, 2016) which displays significantly positive relationship between perceived quality and perceived price in terms of ranges of price as well as certain genres of product (Venkataraman, 1981).Criticism, However, Monroe fails to incorporate dimensions which evaluate customer perceived value as it comprises merely cost as the culprit in defining customer perceived value (Animashaun, et al, 2016). In addition, Peterson & Wilson (2000) deduced that the relationship between price and customer perceived quality are not always well defined directly.…”