Increasing customer satisfaction in the new venture context

Abstract

Purpose -The purpose of this study is to test the effects of cognitive legitimacy and the assets of newness in the new venture context. The authors wish to provide evidence related to how best to market and manage some of the assets and liabilities of newness. Design/methodology/approach -236 customers of three recently opened retailing businesses were surveyed to investigate the relationships among organizational energy, organizational flexibility, cognitive legitimacy, and customer satisfaction. A mediation model including all four variables is developed and tested in the paper. Findings -Evidence is presented suggesting cognitive legitimacy plays a significant mediating role in both the positive relationship between organizational energy and customer satisfaction, and the positive relationship between organizational flexibility and customer satisfaction.Research limitations/implications -The paper offers thoughts regarding the theoretical implications of the study, as well as future research opportunities related to future marketing and entrepreneurship studies. Practical implications -Entrepreneurs are informed how to further market and manage the characteristics that mark their new ventures. Originality/value -The study is the first to link the assets of newness, cognitive legitimacy, and customer satisfaction. Given the importance of customer perceptions in the new venture context, the manuscript offers insight into how to possibly increase customer satisfaction by managing the perceptions of customers related to newness.

Benchmarking performance of new venture travel intermediaries: role of firm value and customer perceived value

“…, 2021). These elements are important ingredients that can prolong the survival of new venture firms (Nagy and Kacmar, 2013). Further, the concept of value creation and delivery is largely being adopted by new venture firms to create and offer superior value to customers and outperform competitors in the market (O'Cass and Sok, 2015).…”

“…Further, the concept of value creation and delivery is largely being adopted by new venture firms to create and offer superior value to customers and outperform competitors in the market (O'Cass and Sok, 2015). Nagy and Kacmar (2013) believe that accurately interpreting and responding to customer requirements via delivery of superior value and identifying how customers perceive this value is of prime concern for new venture firms. This is because customers represent the stakeholder group through which new venture firms derive resources, reputations and market share.…”

“…Also, CPV has been shown to positively impact customer satisfaction, firm image, behavioral intentions (Hu et al, 2009) and loyalty of the customers (Molinillo et al, 2021). These elements are important ingredients that can prolong the survival of new venture firms (Nagy and Kacmar, 2013). Further, the concept of value creation and delivery is largely being adopted by new venture firms to create and offer superior value to customers and outperform competitors in the market (O'Cass and Sok, 2015).…”

“…As noted by Gohary et al (2016, p. 190), "value is exclusively determined and perceived by customers". Therefore, a focus on how EO will create value for customers (FV) and simultaneously enhance their perception of value (CPV), will ensure the survival of new venture firms and will further fasten their development process (Nagy and Kacmar, 2013).…”

Intangible assets and business results of large companies

“…Throughout the literature there are different works that relate quality management practices such as TQM or the implementation of the ISO 9001 Standard and legitimacy (Heras-Saizarbitoria & Boiral, 2013;Díez-Martín, Prado-Román & Blanco-González, 2013;Nagy & Kacmar, 2013). In this work, the existing relationship between perceived quality and legitimacy will be sought, providing a different point of view to the works found in the literature that so far have not paid attention to this relationship, as can be seen in the bibliographic review developed by Díez-Martín et al (2020).…”