Stretching the value-satisfaction-loyalty chain by adding value dimensions and cognitive and affective satisfactions: A causal model for retailing
Abstract
Purpose
Consensus on how value dimensions are drivers of overall perceived value is a widespread reality in consumer behaviour literature. But scanty research has been done on which of these value dimensions best predict customer loyalty. The purpose of this paper is to propose a causal model that examines how PERVAL dimensions of value affect customers’ loyalty, through both cognitive and affective satisfaction.
Design/methodology/approach
The model is tested on a sample of 820 Spanish retail customers and the findings suggest that product quality and value for money (cognitive) impact customer loyalty through emotional and social value (affective), with significant direct and indirect effects through both cognitive and affective satisfaction.
Findings
Notably, the results highlight the mediating role of shoppers’ emotional and social value on the linkages between satisfaction and loyalty. Therefore, this study has proved the embedded impact of value dimensions on overall satisfaction and behavioural intentions in a cognitive-affective-behavioural framework.
Practical implications
Managerially, retailers who intend to build long-term relationships with their customers will benefit by investing in emotional factors along with cognitive factors, on the assumption that cognitive factors lead to emotional factors, and that both affect loyalty to the service provider through cognitive and affective satisfaction.
Originality/value
This work can be said to have made two substantial contributions to previous literature. First, the old but constantly renewed dichotomy between utilitarian and hedonic attributes in retailing has emerged in the work, in the sense that different value dimensions (two utilitarian, one hedonic and one social) have been proved to be differently related to customer satisfaction (both cognitive and affective), and indirectly to customer loyalty. And second, this work has also proved the existence of a chain of effects between value dimensions: product quality and value for money to emotional value, and this to social value.
Keywords
Acknowledgements
This research was carried out under the project ECO2013-43353-R of the Spanish Ministry of Economy and Competitiveness.
Citation
Gallarza, M.G., Ruiz-Molina, M.E. and Gil-Saura, I. (2016), "Stretching the value-satisfaction-loyalty chain by adding value dimensions and cognitive and affective satisfactions: A causal model for retailing", Management Decision, Vol. 54 No. 4, pp. 981-1003. https://doi.org/10.1108/MD-07-2015-0323
Publisher
:Emerald Group Publishing Limited
Copyright © 2016, Emerald Group Publishing Limited