THE EFFECT OF PERCEIVED VALUE ON BEHAVIOURAL INTENTIONS

Abstract

Purpose- This study investigates the relation between perceived value and behavioural intentions in the intercity passenger transportation industry from a multidimensional point of view. It is expected to contribute to theory and practice through the conceptualisation of perceived value within the benefit and sacrifice components and revelation of the effects of these variables on customers’ behavioural intentions with a holistic perspective. 

Methodology- Data were collected from 552 consumers that purchased services from the companies operating in the intercity passenger transportation industry within the last six months in Turkey. The research model is examined by using structural equation modelling. 

Findings- The results show that functional, social and emotional values are more effective on repurchase intention and word of mouth. Likewise, monetary cost and emotional value are more effective on willingness to pay more and complaining intention. 

Conclusion- These results may provide practical implications which could enable managers of intercity passenger transportation companies to understand the relation between perceived value and behavioural intentions and improve the customer loyalty on the basis of perceived value. 

Keywords

• Perceived value,benefit components,sacrifice components,behavioural intentions,services marketing

References

1. Albayrak, T., Caber, M. & Comen, N. 2016, "Tourist shopping: The relations among shopping attributes, shopping value, and behavioral intention", Tourism Management Perspectives, vol. 18, pp. 98-106. http://dx.doi.org/10.1016/j.tmp.2016.01.007
2. Babin, B. J., Darden, W. R. & Griffin, M. 1994, "Work and/or fun: measuring hedonic and utilitarian shopping value", Journal of Consumer Research, vol. 20, no. 4, pp. 644-656. http://dx.doi.org/10.1086/209376
3. Baker, D. A. & Crompton, J. L. 2000, "Quality, satisfaction and behavioral intentions", Annals of Tourism Research, vol. 27, no. 3, pp. 785804. http://dx.doi.org/10.1016/S0160-7383(99)00108-5
4. Baker, J., Parasuraman, A., Grewal, D. & Voss, G. B. 2002, "The influence of multiple store environment cues on perceived merchandise value and patronage intentions", Journal of Marketing, vol. 66, pp. 120-141. http://dx.doi.org/10.1509/jmkg.66.2.120.18470
5. Bakirtas, H., Bakirtas, I. & Cetin, M. A. 2015, "Effects of utilitarian and hedonic shopping value and consumer satisfaction on consumer behavioral intentions", Ege Academic Review, vol. 15, no. 1, pp. 91-98.
6. Bell, S. J., Menguc, B. & Stefani, S. L. 2004, "When customers disappoint: A model of relational internal marketing and customer complaints", Journal of the Academy of Marketing Science, vol. 32, no. 2, pp. 112-126. http://dx.doi.org/10.1177/0092070303261467
7. Bloemer, J., De Ruyter, K. & Wetzels, M. 1999, "Linking perceived service quality and service loyalty: A multi-dimensional perspective", European Journal of Marketing, vol. 33, no. 11/12, pp. 1082-1106. http://dx.doi.org/10.1108/03090569910292285
8. Boulding, W., Kalra, A., Staelin, R. & Zeithaml, V. A. 1993, "A dynamic process model of service quality: From expectations to behavioral intentions", Journal of Marketing Research, vol. 30, pp. 7-27. http://dx.doi.org/10.2307/3172510

9. Brady, M. K., Robertson, C. J. & Cronin, J. J. 2001, "Managing behavioral intentions in diverse cultural environments: An investigation of service quality, service value, and satisfaction for American and Ecuadorian fast-food customers", Journal of International Management, vol. 7, pp. 129-149. http://dx.doi.org/10.1016/S1075-4253(00)00041-7
10. Brown, T. A. 2006, Confirmatory factor analysis for applied research. 1st ed. New York: The Guilford Press.
11. Byrne, B. M. 2010, Structural equation modeling with AMOS: Basic concepts, applications and programming. 2nd ed. New York: Routledge Taylor and Francis Group.
12. Chaohui, W., Lin, L. & Qiaoyun, X. 2012, "Impact of tourists’ perceived value on behavioral intention for mega events: Analysis of inbound and domestic tourists at Shanghai World Expo", Chinese Geographical Science, vol. 22, no. 6, pp. 742-754. http://dx.doi.org/10.1007/s11769-012-0575-4
13. Chapman, J. & Wahlers, R. 1999, "A revision and empirical test of the extended price-perceived quality model", Journal of Marketing Theory and Practice, vol. 7, no. 3, pp. 53-64. http://dx.doi.org/10.1080/10696679.1999.11501840
14. Chen, C. F. 2008, "Investigating structural relations between service quality, perceived value, satisfaction, and behavioral intentions for air passengers: Evidence from Taiwan", Transportation Research Part A, vol. 42, no. 4, pp. 709-717. http://dx.doi.org/10.1016/j.tra.2008.01.007
15. Chen, C. F. & Chen, F. S. 2010, "Experience quality, perceived value, satisfaction and behavioral intentions for heritage tourists", Tourism Management, vol. 31, no. 1, pp. 29-35. http://dx.doi.org/10.1016/j.tourman.2009.02.008
16. Chen, C. F. & Tsai, D. C. 2007, "How destination image and evaluative factors affect behavioral intentions?", Tourism Management, vol. 28, pp. 1115-1122. http://dx.doi.org/10.1016/j.tourman.2006.07.007
17. Chiu, C. M., Wang, E. T. G., Fang, Y. H. & Huang, H. Y. 2014, "Understanding customers’ repeat purchase intentions in B2C e-commerce: The roles of utilitarian value, hedonic value and perceived risk", Information Systems Journal, vol. 24, no. 1, pp. 85-114. http://dx.doi.org/10.1111/j.1365-2575.2012.00407.x
18. Choi, K. S., Cho, W. H., Lee, S., Lee, H. & Kim, C. 2004, "The relations among quality, value, satisfaction and behavioral intention in health care provider choice: A South Korean study", Journal of Business Research, vol. 57, pp. 913-921. http://dx.doi.org/10.1016/S0148-2963(02)00293-X
19. Chu, C. W. & Lu, H. P. 2007, "Factors influencing online music purchase intention in Taiwan: An empirical study based on the valueintention framework", Internet Research, vol. 17, no. 2, pp. 139-155. http://dx.doi.org/10.1108/10662240710737004
20. Cronin, J. J., Brady, M. K. & Hult, G. T. M. 2000, "Assessing the effects of quality, value, and customer satisfaction on consumer behavioral intentions in service environments", Journal of Retailing, vol. 76, no. 2, pp. 193-218. http://dx.doi.org/10.1016/S0022-4359(00)00028-2
21. Dedeoglu, B. B., Balikcioglu, S. & Kucukergin, K. G. 2015, "The role of touristsʼ value perceptions in behavioral intentions: The moderating effect of gender", Journal of Travel & Tourism Marketing, vol. 33, no. 4, pp. 513-534. http://dx.doi.org/10.1080/10548408.2015.1064062
22. Fornell, C. & Larcker, D. F. 1981, "Evaluating structural equation models with unobservable variables and measurement error", Journal of Marketing Research, vol. 18, no. 1, pp. 39-50. http://dx.doi.org/10.2307/3151312
23. Fullerton, G. 2003, "When does commitment lead to loyalty?", Journal of Service Research, vol. 5, no. 4, pp. 333-344. http://dx.doi.org/10.1177/1094670503005004005
24. Gallarza, M. G. & Saura, I. G. 2006, "Value dimensions, perceived value, satisfaction and loyalty: an investigation of university students’ travel behavior", Tourism Management, vol. 27, no. 3, pp. 437-452. http://dx.doi.org/10.1016/j.tourman.2004.12.002
25. Gremler, D. D. & Gwinner, K. P. 2000, "Customer-employee rapport in service relations", Journal of Service Research, vol. 3, no. 1, pp. 82104. http://dx.doi.org/10.1177/109467050031006
26. Ha, J. & Jang S. C. S. 2010, "Perceived values, satisfaction, and behavioral intentions: The role of familiarity in Korean restaurants", International Journal of Hospitality Management, vol. 29, pp. 2-13. http://dx.doi.org/10.1016/j.ijhm.2009.03.009
27. Hair, J. F., Anderson, R. E., Tatham, R. L. & Black, W. C. 1998, Multivariate data analysis. 5th ed. New Jersey: Prentice-Hall Inc.
28. Han, H. & Hwang, J. 2013, "Multi-dimensions of the perceived benefits in a medical hotel and their roles in international travelers’ decisionmaking process", International Journal of Hospitality Management, vol. 35, pp. 100-108. http://dx.doi.org/10.1016/j.ijhm.2013.05.011
29. Hansen, H., Samuelsen, B. M. & Silseth, P. R. 2008, "Customer perceived value in B-t-B service relations: Investigating the importance of corporate reputation", Industrial Marketing Management, vol. 37, pp. 206-2017. http://dx.doi.org/10.1016/j.indmarman.2006.09.001
30. Holbrook, M. B. 1996, "Customer value - a framework for analysis and research", Advances in Consumer Research, vol. 23, no. 1, pp. 138142. http://dx.doi.org/10.4324/9780203010679
31. Holbrook, M. B. 1999, Consumer value: a framework for analysis and research. London: Routledge.
32. Holbrook, M. B. & Hirschman, E. C. 1982, "The experiential aspects of consumption: consumer fantasies, feelings, and fun, The Journal of Consumer Research, vol. 9, no. 2, pp. 132-140. http://dx.doi.org/10.1086/208906
33. Hsiao, K. L. & Chen, C. C. 2016, "What drives in-app purchase intention for mobile games? An examination of perceived values and loyalty", Electronic Commerce Research and Applications, vol. 16, pp. 18-29. http://dx.doi.org/10.1016/j.elerap.2016.01.001
34. Huang, Y. Y. 2012, "Service backstage visibility and the corresponding perceived values in the process of service delivery", Australasian Marketing Journal, vol. 20, no. 4, pp. 275-281. http://dx.doi.org/10.1016/j.ausmj.2012.05.016
35. Jacoby, J. & Olson, J. C. 1977, Consumer response to price: an attitudinal, information processing perspective, in moving ahead with attitude research. Wind, Y.; Greenberg, P. eds. Chicago: American Marketing Association, pp. 73-86.
36. Kainth, J. S. & Verma, H. V. 2011, "Consumption values: Scale development and validation", Journal of Advances in Management Research, vol. 8, no. 2, pp. 285-300. http://dx.doi.org/10.1108/09727981111175993
37. Kantamneni, S. P. & Coulson, K. R. 1996, "Measuring perceived value: Scale development and research findings from a consumer survey", The Journal of Marketing Management, vol. 6, no. 2, pp. 72-86.
38. Kashyap, R. & Bojanic, D. C. 2000, "A structural analysis of value, quality, and price perceptions of business and leisure travelers", Journal of Travel Research, vol. 39, pp. 45-51. http://dx.doi.org/10.1177/004728750003900106
39. Kim, H. B., Kim, T. T. & Shin, S. W. 2009, "Modeling roles of subjective norms and eTrust in customers’ acceptance of airline B2C eCommerce websites", Tourism Management, vol. 30, no. 2, pp. 266-277. http://dx.doi.org/10.1016/j.tourman.2008.07.001
40. Kim, J. W., Kim, E. J., Seung-Min Kim, S. M. & Hong, H. G. 2011, "Effects of fit with CSR activities and consumption value on corporate image and repurchase intention", International Journal of Business Strategy, vol. 11, no. 1, pp. 35-46. http://dx.doi.org/10.1007/s10551-0100703-y
41. Kline, R. B. 2011, Principles and practice of structural equation modeling. 3rd ed. New York: The Guilford Press.
42. Lai, W. T. & Chen, C. F. 2011, "Behavioral intentions of public transit passengers - the roles of service quality, perceived value, satisfaction and involvement", Transport Policy, vol. 18, pp. 318-325. http://dx.doi.org/10.1016/j.tranpol.2010.09.003
43. Lapierre, J. 2000, "Customer-perceived value in industrial contexts", Journal of Business & Industrial Marketing, vol. 15, no. 2/3, pp. 122140. http://dx.doi.org/10.1108/08858620010316831
44. Liu, B. S. C., Furrer, O. & Sudharshan, D. 2001, "The relations between culture and behavioral intentions toward services", Journal of Service Research, vol. 4, no. 2, pp. 118-129. http://dx.doi.org/10.1177/109467050142004
45. Mandan, M., Hossein, S. & Furuzandeh, A. 2013, "Investigating the impact of advertising on customers’ behavioral intentions: A case of agriculture bank", Business and Economic Research, vol. 1, no. 1, pp. 1-20. http://dx.doi.org/10.5296/ber.v3i1.2799
46. Merle, A., Chandon, J. L., Roux, E.& Alizon, F. 2010, "Perceived value of the mass-customized product and mass customization experience for individual consumers", Production and Operations Management, vol. 19, no. 5, pp. 503-514. http://dx.doi.org/10.1111/j.19375956.2010.01131.x
47. Molinari, L. K., Abratt, R.& Dion, P. 2008, "Satisfaction, quality and value and effects on repurchase and positive word-of-mouth behavioral intentions in a B2B services context", Journal of Services Marketing, vol. 22, no. 5, pp. 363-373. http://dx.doi.org/10.1108/08876040810889139
48. Nunnally, J. C.& Bernstein, I. H. 1994, Psychometric theory. 3rd ed. New York: McGraw-Hill Inc.
49. Oliver, R. L. 1997, Satisfaction: a behavioral perspective on the consumer. 2nd ed. New York: M.E. Sharpe, Inc.
50. Parente, E. S., Costa, F. J. & Leocádio, A. C. 2015, "Conceptualization and measurement of customer perceived value in banks: A Brazilian contribution", International Journal of Bank Marketing, vol. 33, no. 4, pp. 494-509. http://dx.doi.org/10.1108/IJBM-04-2014-0051
51. Petrick, J. F. 2002, "Development of a multi-dimensional scale for measuring the perceived value of a service", Journal of Leisure Research, vol. 34, no. 2, pp. 119-134.
52. Pihlström, M. & Brush, G. J. 2008, "Comparing the perceived value of information and entertainment mobile services", Psychology & Marketing, vol. 25, no. 8, pp. 732-755. http://dx.doi.org/10.1002/mar.20236
53. Raykov, T. & Marcoulides, G. A. 2006, A first course in structural equation modelling. 2nd ed. New Jersey: Lawrence Erlbaum Associates.
54. Roig, J. C. F., Garcia, J. S. & Tena, M. A. M. 2009, "Perceived value and customer loyalty in financial services", The Service Industries Journal, vol. 29, no. 6, pp. 775-789. http://dx.doi.org/10.1080/02642060902749286
55. Ruiz, D. M., Gremler, D. D., Washburn, J. H. & Carrion, G. C. 2008, "Service value revisited: Specifying a higher-order, formative measure", Journal of Business Research, vol. 61, pp. 1278-1291. http://dx.doi.org/10.1016/j.jbusres.2008.01.015
56. Ryu, K., Han, H. & Kim, T. H. 2008, "The relations among overall quick-casual restaurant image, perceived value, customer satisfaction, and behavioral intentions", International Journal of Hospitality Management, vol. 27, pp. 459-469. http://dx.doi.org/10.1016/j.ijhm.2007.11.001
57. Sanchez, J., Callarisa, L., Rodriguez, R. M. & Moliner, M. A. 2006, "Perceived value of the purchase of a tourism product", Tourism Management, vol. 27, no. 3, pp. 394-409. http://dx.doi.org/10.1016/j.tourman.2004.11.007
58. Sheth, J. N., Newman, B. I. & Gross, B. L. 1991a, "Why we buy what we buy: A theory of consumption values", Journal of Business Research, vol. 22, no. 2, pp. 159-170. http://dx.doi.org/10.1016/0148-2963(91)90050-8
59. Sheth, J. N., Newman, B. I. & Gross, B. L. 1991b, Consumption values and market choices: Theory and applications. Ohio: South-Western Publishing.
60. Shukla, P. 2010, "Effects of perceived sacrifice, quality, value, and satisfaction on behavioral intentions in the service environment", Services Marketing Quarterly, vol. 31, pp. 466-484. http://dx.doi.org/10.1080/15332969.2010.510730
61. Solomon, M., Bamossy, G., Askegaard, S. & Hogg, M. K. 2006, Consumer behaviour: A European perspective. 3th ed. England: Pearson Education Limited.
62. Sweeney, J. C. & Soutar, G. N. 2001, "Consumer perceived value: The development of a multiple item scale", Journal of Retailing, vol. 77, no. 2, pp. 203-220. http://dx.doi.org/10.1016/S0022-4359(01)00041-0
63. Tam, J. L. M. 2004, "Customer satisfaction, service quality and perceived value: An integrative model", Journal of Marketing Management, vol. 20, pp. 897-917. http://dx.doi.org/10.1362/0267257041838719
64. Tsai, S. P. 2005, "Utility, cultural symbolism and emotion: A comprehensive model of brand purchase value", International Journal of Research in Marketing, vol. 22, pp. 277-291. http://dx.doi.org/10.1016/j.ijresmar.2004.11.002
65. Vogel, V., Evanschitzky, H. & Ramaseshan, B. 2008, "Customer equity drivers and future sales", Journal of Marketing, vol. 72, pp. 98-108. http://dx.doi.org/10.1509/jmkg.72.6.98
66. Walsh, G., Shiu, E. & Hassan, L. M. 2014, "Replicating, validating, and reducing the length of the consumer perceived value scale", Journal of Business Research, vol. 67, no. 3, pp. 260-267. http://dx.doi.org/10.1016/j.jbusres.2013.05.012
67. Wang, C. H. & Chen, S. C. 2012, "The relation of full-service restaurant attributes, evaluative factors and behavioral intention", The International Journal of Organizational Innovation, vol. 5, no. 2, pp. 248-262.
68. Wang, E. S. T. 2014, "Do farmers’ market and specialty food store customers differ in the effects of perceived utilitarian and hedonic shopping values?", Journal of Marketing Channels, vol. 21, no. 2, pp. 77-86. http://dx.doi.org/10.1080/1046669X.2013.866066
69. Wang, Y., Lo, H. P., Chi, R. & Yang, Y. 2004, "An integrated framework for customer value and customer-relation-management performance: A customer-based perspective from China", Managing Service Quality, vol. 14, no. 2/3, pp. 169-182. http://dx.doi.org/10.1108/09604520410528590
70. Westbrook, R. A. 1987, "Product/consumption-based affective responses and postpurchase processes", Journal of Marketing Research, vol. 24, no. 3, pp. 258-270. http://dx.doi.org/10.2307/3151636
71. Woodall, T. 2003, "Conceptualising ‘value for the customer’: An attributional, structural and dispositional analysis", Academy of Marketing Science Review 2003, vol. 12, pp. 1-44.
72. Xu, C., Peak, D. & Prybutok, V. 2015, "A customer value, satisfaction, and loyalty perspective of mobile application recommendations", Decision Support Systems, vol. 79, pp. 171-183. http://dx.doi.org/10.1016/j.dss.2015.08.008
73. Yang, Y., Liu, X. Jing, F. & Li, J. 2014, "How does perceived value affect travelers’ satisfaction and loyalty?", Social Behavior And Personality, vol. 42, no. 10, pp. 1733-1744. http://dx.doi.org/10.2224/sbp.2014.42.10.1733
74. Zeithaml, V. A. 1988, "Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence", Journal of Marketing, vol. 52, no. 3, pp. 2-22. http://dx.doi.org/10.2307/1251446
75. Zeithaml, V. A., Berry, L. L. & Parasuraman, A. 1996, "The behavioral consequences of service quality", Journal of Marketing, vol. 60, pp. 31-46. http://dx.doi.org/10.2307/1251929