How to measure B2B relationship value to increase satisfaction and loyalty

Abstract

Purpose The purpose of this paper is to analyse the dimensional structure of relationship value by comparing the results of one-dimensional versus multidimensional conceptualisation in the prediction of satisfaction and loyalty in a B2B context. Design/methodology/approach A survey was carried out and 219 responses were obtained from retail companies in the furniture sector in Spain. The model was estimated using the partial least squares (PLS) approach. Findings The results revealed that the multidimensional conceptualisation of relationship value explained satisfaction and loyalty levels to a greater extent than the one-dimensional conceptualisation. Research limitations/implications Given the complexity involved in conceptualising relationship value, its study needs to be expanded to encompass other contexts. Practical implications Manufacturers should focus their efforts on improving each of the axes of relationship value, to ensure the satisfaction and loyalty of their retail customers. Originality/value This study integrates and justifies the measurement of relationship value and its axes in the nomological structure with other relational constructs.

The Impact of CRM on Customer Satisfaction and Customer Loyalty: Mediation Effect of Customer Perceived Value (Evidence from Hospitality Industry)

“…This was also stated by Kumar, (2020). Ruiz-Martínez, et al, (2019) who ensured that the main aim of building a relationship with customers is to ensure satisfaction of the customers as satisfied customers will rarely think about switching from one company to another and are less susceptible to price connected service facilities and progressively turn into a center for generation of revenue (Al-Weshah, et al, 2019). Moreover, the findings ensure that CRM has a positive significant direct impact on Customer Loyalty and this aligns with (Nyadzayo and Khajehzadeh 2016); (Law, et al, 2018) that CRM which is based on creating and improving the relationship with customers in the most efficient way to keep them loyal.…”

“…The primary benefits of CRM are increased customer satisfaction and customer retention which consequently lead to increased repeat purchase or visit. In many articles the relationship between firm and customer is theorized to increase satisfaction and loyalty (Kumar, 2020;Ruiz-Martínez, et al, 2019). These two outcomes are among the most heavily employed indicators of the intensity of customer-firm relationship (Gremler, et al, 2019;Sofi, et al, 2020).…”

Necessary and sufficient antecedents of customer loyalty to logistics service providers

“…Caceres and Paparoidamis (2007) noted that despite the accumulation of empirical evidence that loyalty has a positive impact on firm performance (O'cass and Ngo, 2012; Oliver, 1999; Ruiz-Martínez et al , 2019), loyalty remains a multifaceted concept with significant conceptual and empirical gaps in how we define and conceptualize loyalty in a B2B context. Russo et al (2016) argues that customer loyalty and its antecedents is so complex in the B2B context that only we can understand it from a complexity theory view.…”

“…In the absence of satisfaction with service quality or in the absence of price satisfaction, customer loyalty still may be created, as loyalty does not refer to a single transaction but to a long-term relationship that other factors may become more important over time (Caceres and Paparoidamis, 2007; Lukassen and Wallenburg, 2010; Ruiz-Martínez et al , 2019).…”

An analysis of configurations of relationship quality dimensions to explain sources of behavioral outcomes in globalized manufacturing

“…This paper finds indications for non-linearities between perceptual measures investigated and profitability of customer accounts, with particular relevance for the role of perceived customer orientation, perceived product innovativeness of the supplier and attitudinal loyalty.Research limitations/implications -The analysis faces a number of limitations, starting with its reliance on cross-sectional survey data, which does not enable us to account for feedback mechanisms, for example, arising from customer perceptions regarding innovation aspects. The lack of a multidimensional conceptionalization of the perceptual customer constructs may have limited the analysis, considering also recent evidence from retail companies in the furniture sector in Spain, suggesting that the multidimensional conceptualization of relationship value explained satisfaction and loyalty levels to a greater extent than the one-dimensional conceptualization (Ruiz-Martínez et al, 2019).…”