The Effect of Perceived Benefit and Sacrifice Components on Perceived Customer Value

Abstract

This study investigates the relationships between perceived benefit and sacrifice components and perceived customer value. The purpose of the study is to analyze the factors that affect the perceived customer value within the scope of benefit and sacrifice components in the field of intercity passenger transportation. It is supposed to contribute to theory and practice through conceptualizing of the perceived customer value within the scope of benefit and sacrifice components. For this purpose, empirical evidence was gathered from 552 consumers that purchased services from the companies operating in the field of intercity passenger transportation in Zonguldak. The results show that within the scope of benefit components functional, emotional and social benefits have a significant effect on perceived customer value and within the scope of sacrifice components monetary cost has a significant effect on perceived customer value. On the other hand, it has been determined that time/effort cost has an insignificant effect on perceived customer value. In the context of these results, it is supposed that the companies which want to increase perceived customer value should focus on the benefit factors and make improvements on them. Also, as a part of sacrifice factors they should give importance particularly to the pricing policies and strategies

Keywords

• Perceived customer value, perceived benefits, perceived sacrifices

Algılanan Fayda ve Fedakarlık Bileşenlerinin Algılanan Müşteri Değeri Üzerindeki Etkisi

Abstract

Bu çalışma, algılanan fayda ve fedakarlık bileşenleri ile algılanan müşteri değeri arasındaki ilişkiye odaklanmaktadır. Çalışmanın amacı, şehirlerarası kara yolu yolcu taşımacılığı alanında tüketiciler tarafından algılanan müşteri değeri üzerinde etkili olan faktörleri fayda ve fedakarlık bileşenleri çerçevesinde analiz etmektir. Algılanan müşteri değerinin fayda ve fedakarlık bileşenleri çerçevesinde kavramsallaştırılmasının teoriye ve uygulamaya önemli katkılar sağlayacağı düşünülmektedir. Bu amaç kapsamında çalışma, Zonguldak ili şehirlerarası kara yolu yolcu taşımacılığı alanında faaliyet gösteren işletmelerden hizmet satın almış 552 tüketici üzerinde gerçekleştirilmiştir. Analiz sonucunda, belirtilen işletmelerden hizmet satın almış tüketicilerin algıladıkları müşteri değeri üzerinde algılanan fayda bileşenleri kapsamında fonksiyonel, duygusal ve sosyal faydanın, fedakarlık bileşenleri kapsamında ise parasal maliyetin etkili olduğu belirlenmiştir. Buna karşılık, zaman/çaba maliyetinin algılanan müşteri değeri üzerindeki etkisinin anlamsız olduğu tespit edilmiştir. Bu sonuçlar çerçevesinde müşterileri tarafından algılanan değeri artırmak isteyen işletmelerin, tüketicilere sunulan fayda unsurlarına odaklanarak, bu unsurlar üzerinde iyileştirmeler yapması gerekmektedir. Bununla birlikte, fedakarlık unsurları çerçevesinde özellikle fiyatlama politika ve stratejilerine önem vermeleri önerilmektedir

Keywords

• Algılanan müşteri değeri, algılanan fayda, algılanan fedakarlık

References

1. Al-Sabbahy, H. Z., Ekinci, Y. ve Riley, M. (2004) “An Investigation of Perceived Value Dimensions: Implicati- ons for Hospitality Research” Journal of Travel Research, 42:226-234.
2. Anderson, J. C. ve Gerbing, D. W. (1988) “Struc- tural Equation Modeling in Practice: A Review and Re- commended Two-Step Approach” Psychological Bulletin, 103(3): 411-423.
3. Antonides, G. ve Van Raaij, W. F. (1998) Consumer Behaviour: A European Perspective, 1st Edition, England, John Wiley & Sons Ltd.
4. Ashton, A. S., Scott, N., Solnet, D. ve Breakey, N. (2010) “Hotel Restaurant Dining: The Relationship bet- ween Perceived Value and Intention to Purchase” Tourism and Hospitality Research, 10(3): 206-218.
5. Baker, J., Parasuraman, A., Grewal, D. ve Voss, G. B. (2002) “The Influence of Multiple Store Environment Cues on Perceived Merchandise Value and Patronage In- tentions” Journal of Marketing, 66(2): 120-141.
6. Beneke, J. (2012) “An Application of Sweeney’s Risk- Price-Quality-Value Framework through a Consideration of Store Brand Merchandise” Journal of Business and Reta- il Management Research, 7(1): 106-117.
7. Bou-Llusar, J. C., Camison-Zornoza, C. ve Escrig-Te- na, A. B. (2001) “Measuring the Relationship between Firm Perceived Quality and Customer Satisfaction and Its Influence on Purchase Intentions” Total Quality Manage- ment, 12(6): 719-734.
8. Butz, H. E. ve Goodstein, L. D. (1996) “Measuring Customer Value: Gaining the Strategic Advantage” Orga- nizational Dynamics, 24(3): 63-77.

9. Chang, H. S. ve Hsiao, H. L. (2008) “Examining the Casual Relationship among Service Recovery, Perceived Justice, Perceived Risk, and Customer Value in the Hotel Industry” The Service Industries Journal, 28(4): 513-528.
10. Chang, H. S. ve Tseng, C. M. (2010) “The Matrix Composition of Banking Customer Value” Journal of In- ternational Consumer Marketing, 22: 347-362.
11. Chapman, J. ve Wahlers, R. (1999) “A Revision and Empirical Test of the Extended Price-Perceived Quality Model” Journal of Marketing Theory and Practice, 7(3): 53-64.
12. Chen, C. F. (2008) “Investigating Structural Rela- tionships between Service Quality, Perceived Value, Sa- tisfaction, and Behavioral Intentions for Air Passengers: Evidence from Taiwan” Transportation Research Part A, 42: 709-717.
13. Chen, Z. ve Dubinsky, A. J. (2003) “A Conceptual Model of Perceived Customer Value in E-Commerce: A Preliminary Investigation” Psychology and Marketing, 20(4): 323-347.
14. Chu, C. W. ve Lu, H. P. (2007) “Factors Influencing Online Music Purchase Intention in Taiwan: An Empiri- cal Study Based on the Value-Intention Framework” In- ternet Research, 17(2): 139-155.
15. Cronin, J. J., Brady, M. K., Brand, R. R., Hightower, R. ve Shemwell, D. J. (1997) “A Cross-Sectional Test of the Effect and Conceptualization of Service Value” The Journal of Services Marketing, 11(6): 375-391.
16. De Ruyter, K., Lemmink, J., Wetselz, M. ve Matt- sson, J. (1997) “Carry-Over Effects in the Formation of Satisfaction: The Role of Value in a Hotel Service Deli- very Process” Advances in Services Marketing and Mana- gement, 6: 61-77.
17. Dodds, W. B. ve Monroe, K. B. (1985) “The Effect of Brand and Price Information on Subjective Product Evaluations” Hirschman, E. C. ve Holbrook M. B. (eds.) Advances in Consumer Research, Provo, UT, Association for Consumer Research, 12: 85-90.
18. Dodds, W. B., Monroe, K. B. ve Grewal, D. (1991) “Effects of Price, Brand, and Store Information on Bu- yers’ Product Evaluations” Journal of Marketing Research, 28(3): 307-319.
19. Duman, T. ve Mattila, A. S. (2005) “The Role of Af- fective Factors on Perceived Cruise Vacation Value” Tou- rism Management, 26(3): 311-323.
20. Finch, J. E., Trombley, C. M ve Rabas, B. J. (1998) “The Role of Multiple Consumption Values In Consumer Cooperative Patronage: An Application of the Theory of Market Choice Behavior” The Journal of Marketing Ma- nagement, 8(1): 44-56.
21. Gallarza, M. G. ve Saura, I. G. (2006) “Value Di- mensions, Perceived Value, Satisfaction and Loyalty: An Investigation of University Students’ Travel Behaviour” Tourism Management, 27(3): 437-452.
22. Grace, J. B. (2006) Structural Equation Modeling and Natural Systems, New York, Cambridge University Press.
23. Grewal, D., Monroe, K. B. ve Krishnan, R. (1998) “The Effects of Price-Comparison Advertising on Buyers’ Perceptions of Acquisition Value, Transaction Value, and Behavioral Intentions” Journal of Marketing, 62(2): 46- 59.
24. Gupta, S. ve Kim, H. W. (2010) “Value-Driven Inter- net Shopping: The Mental Accounting Theory Perspecti- ve” Psychology & Marketing, 27(1): 13-35.
25. Hair, J. F., Anderson, R. E., Tatham R. L. ve Black, W. C. (1998) Multivariate Data Analysis, 5th Edition, New Jersey, Prentice-Hall Inc.
26. Hair, J. F., Ringle, C. M. ve Sarstedt, M. (2011) “PLS-SEM: Indeed a Silver Bullet” Journal of Marketing Theory and Practice, 19(2): 139-151.
27. Ho, H. Y., Lu, M. H. ve Lin, P. C. (2013) “The Di- verse Perceived Qualities and Perceived Values on App E-Book and App E-Magazıne” Pakistan Journal of Statis- tics, 29(6): 1029-1048.
28. Holbrook, M. B. (1994) “The Nature of Customer Value: An Axiology of Services in the Consumption Ex- perience”, Rust, R. T. ve Oliver, R. L. (eds.) Service Qu- ality: New Directions in Theory and Practice, California, Sage Publications, 21-71.
29. Huber, F., Herman, A. ve Morgan, R. E. (2001) “Ga- ining Competitive Advantage through Customer Value Oriented Management” Journal of Consumer Marketing, 18(1): 41-53.
30. Ivanovic, A. ve Collin, P. H. (2003) Dictionary of Mar- keting, 3rd Edition, London, Bloomsbury Publishing Plc.
31. Jayanti, R. K. ve Ghosh, A. K. (1996) “Service Va- lue Determination: An Integrative Perspective” Journal of Hospitality Marketing and Management, 3(4): 5-25.
32. Jen, W., Tu, R. ve Lu, T. (2011) “Managing Passenger Behavioral Intention: An Integrated Framework for Ser- vice Quality, Satisfaction, Perceived Value, and Switching Barriers” Transportation, 38: 321-342.
33. Jensen, O. ve Hansen, K. V. (2007) “Consumer Va- lues among Restaurant Customers” Hospitality Manage- ment, 26(3): 603-622.
34. Kashyap, R. ve Bojanic, D. C. (2000) “A Structural Analysis of Value, Quality, and Price Perceptions of Bu- siness and Leisure Travelers” Journal of Travel Research, 39(1): 45-51.
35. Khan, K. M. ve Khan, M. N. (2006) The Encyclopae- dic Dictionary of Marketing, India, Sage Publications Pvt. Ltd.
36. Khan, N., Kadir, S. L. S. A. ve Wahab, S. A. (2010) “Investigating Structure Relationship from Functional and Relational Value to Behavior Intention: The Role of Satisfaction and Relationship Commitment” Internatio- nal Journal of Business and Management, 5(10): 20-36.
37. Kim, H. W., Chan, H. C. ve Gupta, S. (2007) “Value- Based Adoption of Mobile Internet: An Empirical Inves- tigation” Decision Support Systems, 43(1): 111-126.
38. Kim, Y. K. (2002) “Consumer Value: An Application to Mall and Internet Shopping” International Journal of Retail and Distribution Management, 30(12): 595-602.
39. Kline, R. B. (2011) Principles and Practice of Structu- ral Equation Modeling, 3rd Edition, New York, The Gu- ilford Press.
40. Kwon, H. H., Trail, G. ve James, J. D. (2007) “The Mediating Role of Perceived Value: Team Identification and Purchase Intention of Team-Licensed Apparel” Jour- nal of Sport Management, 21(4): 540-554.
41. Lai, A. W (1995) “Consumer Values, Product Be- nefits and Customer Value: A Consumption Behavior Approach” Kardes, F. R. ve Sujan, M. (eds.) Advances in Consumer Research, Provo, UT, Association for Consumer Research, 22: 381-388.
42. Lee, H. S (2010) “Factors Influencing Customer Lo- yalty of Mobile Phone Service: Empirical Evidence from Koreans” Journal of Internet Banking and Commerce, 15(2): 1-14.
43. Lin, C. H., Sher, P. J. ve Shih, H. Y. (2005) “Past Progress and Future Directions in Conceptualizing Cus- tomer Perceived Value” International Journal of Service Industry Management, 16(4): 318-336.
44. Lovelock, C. ve Wright, L. (2002) Principles of Servi- ce Marketing and Management, 2nd Edition, New Jersey, Pearson Education Inc.
45. Lu, H. P ve Lin, K. Y. (2012) “Factors Influencing Online Auction Sellers’ Intention to Pay: An Empirical Study Integrating Network Externalities with Perceived Value” Journal of Electronic Commerce Research, 13(3): 238-254.
46. Lu, I. Y. ve Shiu, J. Y. (2011) “Decision-Making Fra- mework of Customer Perception of Value in Taiwanese Spa Hotels” Social Behavior and Personality, 39(9): 1183- 1192.
47. Mathwick, C., Malhotra, N. ve Rigdon, E. (2001) “Experiential Value: Conceptualization, Measurement and Application in the Catalog and Internet Shopping Environment” Journal of Retailing, 77: 39-56.
48. Merle, A., Chandon, J. L. ve Roux, E. (2008) “Un- derstanding the Perceived Value of Mass Customization: The Distinction between Product Value and Experiential Value of Co-Design” Recherche et Applications en Marke- ting, 23(3): 27-50.
49. Meydan, C. H. ve Şeşen, H. (2011) Yapısal Eşitlik Modellemesi: AMOS Uygulamaları, Ankara, Detay Yayın- cılık.
50. Nunnally, J. C. ve Bernstein, I. H. (1994) Psychomet- ric Theory, 3rd Edition, New York, McGraw-Hill Inc.
51. Oh, H. (1999) “Service Quality, Customer Satisfacti- on, and Customer Value: A Holistic Perspective” Hospita- lity Management, 18(1): 67-82.
52. Oh, H. (2000) “The Effect of Brand Class, Brand Awareness, and Price on Customer Value and Behavio- ral Intentions” Journal of Hospitality&Tourism Research, 24(2): 136-162.
53. Oh, H. ve Jeong, M. (2004) “An Extended Process of Value Judgment” Hospitality Management, 23(4): 343- 362.
54. Özen, (2011) “Geleneksel Alışveriş ile İnternet Üze- rinden Yapılan Alışverişte Algılanan Değerin Satın Alma Niyetine Olan Etkisinin Karşılaştırılması”, Yayınlanma- mış Doktora Tezi, İstanbul Üniversitesi Sosyal Bilimler Enstitüsü, İstanbul.
55. Papista, E. ve Krystallis, A. (2013) “Investigating the Types of Value and Cost of Green Brands: Proposition of a Conceptual Framework” Journal of Business Ethics, 115(1): 75-92.
56. Park, J. W., Robertson, R. ve Wu, C. L. (2004) “The Effect of Airline Service Quality on Passengers’ Behaviou- ral Intentions: A Korean Case Study” Journal of Air Trans- port Management, 10(6): 435-439.
57. Park, J., Snell, W., Ha, S. ve Chung, T. L. (2011) “Consumers’ Post-Adoption of M-Services: Interest in Future M-Services Based on Consumer Evaluations of Current M-Services” Journal of Electronic Commerce Re- search, 12(3): 165-175.
58. Payne, A. ve Holt, S. (2001) “Diagnosing Customer Value: Integrating the Value Process and Relationship Marketing” British Journal of Management, 12(2): 159- 182.
59. Petrick, J. F. (2002) “Development of a Multi-Di- mensional Scale for Measuring the Perceived Value of a Service” Journal of Leisure Research, 34(2): 119-134.
60. Petrick, J. F. (2004a) “First Timers’ and Repeaters’ Perceived Value” Journal of Travel Research, 43: 29-38.
61. Petrick, J. F. (2004b) “The Roles of Quality, Value, and Satisfaction in Predicting Cruise Passengers’ Behavi- oral Intentions” Journal of Travel Research, 42: 397-407.
62. Pi, S. M., Liao, H. L., Liu, S. H. ve Hsieh, C. Y. (2010) “The Effects of User Perception of Value on Use of Blog Services” Social Behavior and Personality, 38(8): 1029-1040.
63. Rajh, S. P. (2012) “Comparison of Perceived Value Structural Models” Trzistet, 24(1): 117-133.
64. Riviere, A. (2015) “Towards a Model of the Perceived Value of Innovation: The Key Role of Perceived Benefits Ahead of the Adoption Process” Recherche et Applications en Marketing, 30(1): 5-27.
65. Roig, J. C. F., Garcia, J. S., Tena, M. A. M. ve Mon- zonis, J. L. (2006) “Customer Perceived Value in Banking Services” International Journal of Bank Marketing, 24(5): 266-283.
66. Ruiz, D. M., Gremler, D. D., Washburn, J. H. ve Carrion, G. C. (2008) “Service Value Revisited: Specif- ying a Higher-Order, Formative Measure” Journal of Bu- siness Research, 61(12): 1278-1291.
67. Sanchez-Fernandez, R., Iniesta-Bonillo, M. A. ve Holbrook, M. B. (2009) “The Conceptualisation and Measurement of Consumer Value in Services” Internatio- nal Journal of Market Research, 51(1): 93-113.
68. Schiffman, L. G. ve Kanuk, L. L. (2004) Consumer Behavior, 8th Edition, New Jersey, Pearson Education Inc.
69. Schreiber, J. B., Nora, A., Stage, F. K., Barlow, E. A. ve King, J. (2006) “Reporting Structural Equation Mo- deling and Confirmatory Factor Analysis Results: A Revi- ew” The Journal of Educational Research, 99(6): 323-337.
70. Schumacker, R. E. ve Lomax, R. G. (2004) A Beginner’s Guide to Structural Equation Modelling, 2nd Edition, New Jersey, Lawrence Erlbaum Associates.
71. Sheth, J. N., Newman, B. I. ve Gross, B. L. (1991) “Why We Buy What We Buy: A Theory of Consumption Values” Journal of Business Research, 22(2): 159-170.
72. Sinha, I. ve DeSarbo, W. S. (1998) “An Integrated Approach toward the Spatial Modeling of Perceived Cus- tomer Value” Journal of Marketing Research, 35(2): 236- 249.
73. Sirdeshmukh, D., Singh, J. ve Sabol, B. (2002) “Con- sumer Trust, Value, and Loyalty in Relational Exchanges” Journal of Marketing, 66(1): 15-37.
74. Steenkamp, J. B. E. M. ve Geyskens, I. (2006) “How Country Characteristics Affect the Perceived Value of Web Sites” Journal of Marketing, 70: 136-150.
75. Sweeney, J. C. ve Soutar, G. N. (2001) “Consumer Perceived Value: The Development of a Multiple Item Scale” Journal of Retailing, 77(2): 203-220.
76. Sweeney, J. C., Soutar, G. N. ve Johnson, L. W. (1997) “Retail Service Quality and Perceived Value” Jour- nal of Retailing and Consumer Services, 4(1): 39-48.
77. Sweeney, J. C., Soutar, G. N. ve Johnson, L. W. (1999) “The Role of Perceived Risk in the Quality-Value Relationship: A Study in a Retail Environment” Journal of Retailing, 75(1): 77-105.
78. Tam, J. L. M. (2004) “Customer Satisfaction, Service Quality and Perceived Value: An Integrative Model” Jour- nal of Marketing Management, 20(7-8): 897-917.
79. Tavşancıl, E. (2010) Tutumların Ölçülmesi ve SPSS ile Veri Analizi, 4. Baskı, Ankara, Nobel Yayın Dağıtım.
80. Turel, O., Serenko, A. ve Bontis, N. (2007) “User Ac- ceptance of Wireless Short Messaging Services: Decons- tructing Perceived Value” Information & Management, 44(1): 63-73.
81. Vieira, V. A. (2013) “Antecedents and Consequences of Perceived Value: A Meta-Analytical Perspective” Jour- nal of Customer Behaviour, 12(2-3): 111-133.
82. Wang, Y., Lo, H. P., Chi, R. ve Yang, Y. (2004) “An Integrated Framework for Customer Value and Custo- mer-Relationship-Management Performance: A Custo- mer-Based Perspective from China” Managing Service Quality, 14(2/3): 169-182.
83. Woodruff, R. B. (1997) “Customer Value: The Next Source for Competitive Advantage” Journal of the Aca- demy of Marketing Science, 25 (2): 139-153.
84. Wu, C. ve Hsing, S. S. (2006) “Less is More: How Scarcity Influences Consumers’ Value Perceptions and Purchase Intents through Mediating Variables” The Jour- nal of American Academy of Business, 9(2): 125-132.
85. Xiao, G. ve Kim, J. O. (2009) “The Investigation of Chinese Consumer Values, Consumption Values, Life Sa- tisfaction, and Consumption Behaviors” Psychology and Marketing, 26(7): 610-624.
86. Yang, K. ve Jolly, L. D. (2006) “Value-Added Mobile Data Services: The Antecedent Effects of Consumer Value on Using Mobile Data Services” International Journal of Mobile Marketing, 1(2): 11-17.
87. Ye, Q., Li, H., Wang, Z. ve Law, R. (2014) “The Inf- luence of Hotel Price on Perceived Service Quality and Value in E-Tourism: An Empirical Investigation Based on Online Traveler Reviews” Journal of Hospitality & Tourism Research, 38(1): 23-39.
88. Zeithaml, V. A. (1988) “Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence” Journal of Marketing, 52(3): 2-22.
89. Zeithaml, V. A. ve Bitner, M. J. (1996) Services Mar- keting, Singapore, Mc-Graw Hill Companies.
90. Zeithaml, V. A., Berry, L. L. ve Parasuraman, A. (1996) “The Behavioral Consequences of Service Qua- lity” Journal of Marketing, 60(2): 31-46.
91. Zhao, X. (2006) “Consumer Perceived Value of Salon Hair Coloring: A Cross-Cultural Comparison of Gen Y Cohorts in China and the United States”, Yayınlanmamış Doktora Tezi, Greensboro, The University of North Ca- rolina, The Faculty of the Graduate School.