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Customer Perceived Value Towards Convenience Stores in Malaysia: The Influence on Customer Satisfaction, Loyalty and Retention

Author

Listed:
  • Abdulrauf Animashaun

    (Lord Ashcroft International Business School)

  • Tarila Iman Tunkarimu

    (Lord Ashcroft International Business School)

  • Omkar Dastane

    (School of Accounting & Business Management FTMS Global Malaysia)

Abstract

Numerous researchers have centred their attention on Customer Perceived Value towards brands but only a few have focussed on CPV towards convenience stores. The main purpose of the research is to measure the CPV dimensions and identify which dimension infl uences customer satisfaction and as a result leads to customer loyalty and retention for convenience stores in Malaysia. Independent variables such as functional, conditional, social, emotional and economic values were taken into account; the number of 200 customers were sampled, using a blend of explanatory and descriptive research design and a quantitative research method. The reliability was measured ranging from (? =.560-.966) using Cronbach’s alpha. The application of descriptive statistics and correlation analysis was intended to explain the relationship between the independent and dependent variables of the research, whereas the inferential statistics and linear regression were used to test the hypotheses; with a signifi cance level p ? 0/05 whereby the fi ndings of the research showed that economic value has a high infl uence on customer satisfaction as well as loyalty and retention. However, based on the fi ndings customers are highly infl uenced by the economic value they get from a convenience store. Among the realistic contributions are positioning value pricing, formulating a strategy that encourages convenience value, connects to customers’ emotions during shopping and also creates a diverse approach that sets a convenience store apart from another. However, there is a need for future studies to extend the model of this research by adding other perceptions such as demographic features of the consumers.

Suggested Citation

  • Abdulrauf Animashaun & Tarila Iman Tunkarimu & Omkar Dastane, 2016. "Customer Perceived Value Towards Convenience Stores in Malaysia: The Influence on Customer Satisfaction, Loyalty and Retention," Journal of Marketing and Consumer Behaviour in Emerging Markets, University of Warsaw, Faculty of Management, vol. 2(4), pages 4-27.
    • Handle: RePEc:sgm:jmcbem:v:2:i:4:y:2016:p:4-27
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    References listed on IDEAS

    as
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    4. Bolton, Ruth N & Drew, James H, 1991. "A Multistage Model of Customers' Assessments of Service Quality and Value," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 17(4), pages 375-384, March.
    5. Sheth, Jagdish N. & Newman, Bruce I. & Gross, Barbara L., 1991. "Why we buy what we buy: A theory of consumption values," Journal of Business Research, Elsevier, vol. 22(2), pages 159-170, March.
    6. Abdul Rahim Abu Bakar & Naif M. Al Ruwais & Abdul Rahim Othman, 2013. "Customer Net Value: A Service Gap Perspective From Saudi Arabia," Global Journal of Business Research, The Institute for Business and Finance Research, vol. 7(4), pages 19-33.
    Full references (including those not matched with items on IDEAS)

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    More about this item

    Keywords

    : Customer Perceived Value; customer satisfaction; customer loyalty and retention; convenience stores; Malaysian retail;
    All these keywords.

    JEL classification:

    • M31 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Marketing
    • M39 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Marketing and Advertising - - - Other

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