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Journal cover: International Journal of Bank Marketing

International Journal of Bank Marketing

ISSN: 0265-2323

Online from: 1983

Subject Area: Marketing

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Dimensions of price satisfaction: a replication and extension


Document Information:
Title:Dimensions of price satisfaction: a replication and extension
Author(s):Kurt Matzler, (Department of International Management, Johannes Kepler University Linz, Linz, Austria), Birgit Renzl, (Department of Strategic Management, Marketing and Tourism, Innsbruck University School of Management, Innsbruck, Austria), Rita Faullant, (Department of International Management, Johannes Kepler University Linz, Linz, Austria)
Citation:Kurt Matzler, Birgit Renzl, Rita Faullant, (2007) "Dimensions of price satisfaction: a replication and extension", International Journal of Bank Marketing, Vol. 25 Iss: 6, pp.394 - 405
Keywords:Banking, Customer satisfaction, Prices
Article type:Research paper
DOI:10.1108/02652320710820345 (Permanent URL)
Publisher:Emerald Group Publishing Limited
Abstract:

Purpose – The purpose of this study is to replicate and extend the findings of Matzler et al.'s recent paper on the dimensionality of price satisfaction. Furthermore, a test is performed to ascertain whether the relationship between satisfaction with the individual price dimensions and overall satisfaction is symmetric or asymmetric, as the three-factor theory of customer satisfaction suggests.

Design/methodology/approach – Based on a random sample of 406 bank customers, the impact of five price dimensions (price-quality ratio, price fairness, price transparency, price reliability, and relative price) on overall satisfaction is tested using structural equation modeling with Partial Least Squares (PLS). The asymmetric relationship is tested using regression analysis with dummy variables.

Findings – The results confirm Matzler et al.'s findings and show that price satisfaction can be conceptualized as a multidimensional construct and that the five price dimensions have a strong and significant impact on overall satisfaction. Furthermore, it is shown that the relationship between satisfaction of individual price dimensions and overall price satisfaction can be asymmetric, indicating that the three-factor theory of customer satisfaction is applicable also to price satisfaction.

Research limitations/implications – The study replicates previous findings and supports the multi-dimensional nature of price satisfaction and shows that the three-factor theory of customer satisfaction applies also to price satisfaction.

Practical implications – The measurement of price satisfaction at the level of individual price dimensions and the assessment of asymmetric relationships provides managers with more precise data in order to take the right measures to increase satisfaction.

Originality/value – This paper confirms previous findings on the dimensionality of price satisfaction in a random sample of bank customers using structural equation modeling with PLS. Hence, it provides strong empirical support for Matzler et al.'s findings.



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