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THE EFFECTS OF INTRODUCING CUSTOMER RELATIONSHIP MANAGEMENT TO DEPARTMENT STORE ON CUSTOMER SATISFACTION AND LOYALTY
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Thesis for Master of Business Administration Department of Business Management Tatung University
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THE EFFECTS OF INTRODUCTING CUSTOMER RELATIONSHIP MANAGEMENT TO DEPARTMENT STORE ON CUSTOMER SATISFACTION AND LOYALTY
D S N
A THESIS SUBMITTED TO THE FACULTY OF THE GRADUATE SCHOOL OF MANAGEMENT OF TATUNG UNIVERSITY IN PARTIAL FULFILLMENT OF THE REQUIREMENT FOR THE DEGREE OF MASTER OF BUSINESS ADMINISTRATION BY Hsiu -Chun Hsu
JULY 2007 TAIPEI, TAIWAN, REPUBLIC OF CHINA
THE EFFECTS OF INTRODUCING CUSTOMER RELATIONSHIP MANAGEMENT TO DEPARTMENT STORE ON CUSTOMER SATISFACTION AND LOYALTY
Advisor Student
Abstract
To implement the Customer Relationship Management (CRM) is an important topic. The main purpose of enterprises performing CRM is to handle customer demand and increase customer satisfaction in order to maintain the customer relationship, and then raise the customer loyalty to create new businesses. Using structural equation modeling (SEM), the results reveal that managing knowledge has significant effects on customer
CRM
CRM
1.
2.
3.
THE EFFECTS OF INTRODUCING CUSTOMER RELATIONSHIP MANAGEMENT TO DEPARTMENT STORE ON CUSTOMER SATISFACTION AND LOYALTY
AdvisorProf. Hao-Erl Yang StudentHsiu -Chun Hsu TATUNG UNIVERSITY GRADUATE SCHOOL OF MANAGEMENT MASTERS THESIS July 2007
Abstract
To implement the Customer Relationship Management (CRM) is an important topic. The main purpose of enterprises performing CRM is to handle customer demand and increase customer satisfaction in order to maintain the customer relationship, and then raise the customer loyalty to create new businesses. Using structural equation modeling (SEM), the results reveal that managing knowledge has significant effects on customer satisfaction. The mediating effects of customer satisfaction on the relationship between
CRM and customer loyalty were investigated. And the results reveal that customer satisfaction positively and significantly mediating the effects of CRM function on customer loyalty. The major findings of this study are summarized as following:
1.
Overall, the global model fit is acceptable. This empirical result supports that the significant relationships exist among the CRM functional programs, customer satisfaction and customer loyalty.
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The strengthening of department stores CRM functional programs-customer knowledge management has positive influence on customer satisfaction.
3.
The department store customer satisfaction may establish the customers loyalty and will strengthen mutual interaction in future
Keywords: Customer Relationship Management, Customer Satisfaction, Customer Loyalty, Structure Equation Modeling (SEM)
ACKNOWLEDGEMENTS
The successful completion of the MBA program, which reaches its peak in the preparation of this thesis, reflects the efforts and influences of several key individuals to whom this student is profoundly grateful. First of all, this student would like to thank her thesis advisor, Prof. Hao-Erl Yang (), for his splendid advice and careful guidance during the entire period of this research. Next, much appreciation is extended to Prof. Ai-hua Chang () and Prof. Ming-chuan Pan () for their suggestion and helpful instruction. Besides, she also likes to thank Prof. Nan-hong Lin (), her tutor during the past two years. Equally, she desires to express her appreciation to her friends, Wen-hua Su (), Wei-Kun Huang(), Shih-chuan Hsu (), Chiao-yun Su (), Li-Chien Yu(), Chiou-ping Chen () and Jheng-Yi Lai (). They make her have a substantial life during the past two years.
CONTENT
Page
ABSTRACT IN CHINESE.. i ABSTRACT IN ENGLISH..ii ACKNOWLEDGEMENT...............iv LIST OF TABLE.............vii LIST OF FIGURE..................................................................................viii Chapter . INTRODUCTION ................................................................................... 1
Research Background and Motivation ....................................................................... 1 Research Objectives...................................................................................................... 3 Research Procedure ...................................................................................................... 3
. LITERATURE REVIEW....................................................................... 5
The Department Store .................................................................................................. 5 Customer Relationship Management.......................................................................... 6 Customer Satisfaction................................................................................................... 8 Customer Loyalty.......................................................................................................... 9 CRM, loyalty and satisfaction.................................................................................... 10
LIST OF TABLES
Page 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. CRM Measurement Items ................................................................................... 16 Satisfaction Measurement Items........................................................................... 17 Loyalty Measurement Items ................................................................................. 18 Sample Profile ........................................................................................................ 21 Measurement Items for Mean Value and Standard Deviation .......................... 22 Reliability for CRM, satisfaction and loyalty...................................................... 23 External Variables Convergent Validity .............................................................. 24 Chi-Squared Difference Tests for Examining Overall Discriminant Validity .. 25 Goodness-of-Fit ...................................................................................................... 26 Structure model estimate ..................................................................................... 27
LIST OF FIGURE
Page 1. Research flow................................................................................................................. 4 2. Research Framework.................................................................................................. 12
CHAPTER INTRODUCTION
Research background and motivate No matter how serious the competition on industrial marketing becomes, only consumer loyalty ensures steady and long-lasting revenue growth for any kind of business. Therefore, great deals of researchers, both from industry and academic institutes, have been trying to unveil the evolution process of consumer loyalty for decades. In recent years, the market scope of department stores extends quickly and continuously, and the level of competition is also higher and higher. To face such a changeable and competitive environment, one of the effective strategies is to adopt Joint Venture or Technical Cooperation with foreign department stores industry. Several famous large-sized department stores in Taiwan selected Joint Venture, and furthermore the targets of cooperation are all Japanese retailing clans. In the past, department stores always made efforts on diversification of merchandise, design of store and perfect service etc. This interior operation mode is not the only strategy to explore the market share. Hence, it must be consequential trend that aims target customers actively if domestic department stores want to improve competitiveness and capacity of the organization. This strategy is more positive and extended than the first one. The emerging of hypermarket intensified the competition of department stores. Each department store brings up all kinds of promotions to attractive customers for the declining growth rate. In order to survive, it is critical for department stores to
shift product orientation to customer orientation (Kotler, Jain, and Maesincee, 2002). Singh and Sirdeshmukh (2000) even suggest that consumer loyalty is emerging as the marketplace currency of the twenty-first century. Developing a loyal consumer is, however, easier said than done. In recent years, retail competition has intensified, generally as a consequence of new technologies, more sophisticated management practices and industry consolidation. A number of issues, such as the commoditization of products, time scarcity, greater choice of stores and products, more mobile and better informed consumers, are all to contrive to discourage strong loyalty to individual stores by consumers (Schriver, 1997). Customer satisfaction is defined as an overall evaluation based on the customers total purchase and consumption experience of getting a good or service over time (Anderson, Fornel,l and Mazvancheryl, 2004; Fornell, 1992). In the marketing literature, customer satisfaction has been recognized as an important part of corporate strategy (Fornell et al. 2006) and a key driver of firm long-term profitability and market value (Gruca and Rego 2005). More and more enterprises adopt customer relationship management system (CRM) to collect and combine customer's information, and analyze and apply the information to marketing, selling and serving activities in order to strengthen the competitiveness. The major domestic scholar's empirical researches on CRM at present have focused on the performance after implementing CRM and stressed on management operating aspect. This research attempts to stress on consumers perspectives. As to department store industry, the customer's assessment and judgment have sizable influence on loyalty and satisfaction. In the service business that always needs to contact with customer, it is important for department store to know how to develop
customer relationship. However, this research motive is that how department store industry keeps the customer satisfied and loyal by introducing CRM. This study attempts to investigate to what extent the customer satisfaction has been promoted after the CRM was introduced by the department store and the customers received the CRM service. In addition, this study also assesses the effects of the introduction of CRM on customer loyalty. Research Objectives The essence of CRM thinking originates from three concepts in marketing management: (1) customer orientation, (2) relationship marketing, and (3) database marketing. With the advancement of information and communication technology (ICT), these three marketing tenets have come together in the paradigm of CRM (Langerak and Verhoef, 2003). (Zikmund, McLeod, and Gilbert, 2003) provide a more technology-oriented perspective by defining CRM as a business strategy that uses information technology to provide an enterprise with a comprehensive, reliable, and integrated view of its customer base so that all processes and customer interactions help maintain and expand mutually beneficial relationships. So this research purposes are as follows: 1. To explore the components of CRM implemented in the department store. 2. To explore the influence of the introduction of CRM on customer satisfaction in department stores. 3. To explore the influence of the introduction of CRM on customer loyalty in department stores.
Research Procedure
According to the research motives and objectives mentioned above, a research procedure is presented in figure1:
Questionnaire Design
retain customers is the most important lesson to every business owner. Especially in the modern society, shopping in the department stores is not only the way to satisfy customers experiential desires but also a social activity. Department stores have become indispensable for the domestic customers to do shopping and to spend their leisure time. It does not merely provide the sales of commodities but also combines entertainment and fashion authority. Furthermore, the prospect of department stores could indicate the economic status of a country. It also reflects the standards of education level and culture for a country. That is why it is called Window of Economy. The decreasing demand of consuming market and the expansion of enterprises size caused competition become more and more intense. The enterprises make all their efforts to draw customers attention through certain strategies and extra resources. In the service business that always needs to contact with customer, it is important for department store to know how to develop customer relationship. Therefore, this research explores the influence of the customer relationship management on the department store industry and we first probe into the literatures related to customer relationship management in the following chapter. Customer Relationship Management Enterprises can make the customer satisfied and create larger commercial profit for company and raise the market share if the CRM was well done. So a large numbers of companies introduce the CRM system in order to provide customers with customized services. CRM, as an emerging discipline, urgently cries out for theoretical assistance (Gummesson, 2002a) if it is to be properly embedded within organizational strategy
(Langerak and Verhoef, 2003). Some even argue that, without prompt conceptual and measurement attention, CRM could be largely abandoned and perhaps experience a premature death (Fournier, Dobscha, and Mick, 1998). In view of the wide variation among CRM definitions, (Yim and Frederick, 2002) attempts to provide more conceptual clarity of CRM by synthesizing the relevant marketing, management, and IT literature to identify four key areas necessary for successful CRM implementation: (1) strategy, (2) people, (3) processes, and (4) technology (Crosby and Johnson, 2001; Fox and Stead 2001; Ryals and Knox 2001). Previous studies have focused on components of CRM strategy, such as the link between satisfaction and business performance (Kamakura et al., 2002), the link between customer loyalty and profitability (Reinartz and Kumar, 2000), customer profitability heterogeneity (Niraj, Gupta, and Narasimhan, 2001), and customer loyalty programs (Verhoef, 2003). CRM has emerged in recent years as the convergence of a number of factors. Berry (1983) coined the term relationship marketing, which encouraged a new movement towards customer relationships rather than customer transactions. Increasingly companies realize that consumers are their most important asset and view customer relationships as mutual beneficial exchanges and as opportunities that need to be managed (Bowman and Narayandas, 2001). Service industry in Taiwan has a great advance during these decades. But one characteristic of the service industry is that competitors easily and immediately copy service. In order to cultivate more loyal customers, it is important to create excellent customer relationship management process and to expend every marketing budget wisely. We have learned from above-mentioned, customer's relationship management
may change the relations between customer's loyalty and customer's satisfaction. So this research hopes to verify the relationship between satisfaction and loyalty at the same time.
Customer satisfaction The first research involving the measurement of customer satisfaction occurred in the early 1980s. Works by Oliver (1980), Churchill and Surprenant (1982), and Bearden and Teel (1983) tended to focus on the operationalization of customer satisfaction and its antecedents. By the mid-1980s, the focus of both applied and academic research had shifted to construct refinement and the implementation of strategies designed to optimize customer satisfaction (Zeithaml, Berry, and Parasuraman, 1996). For many years marketing educators and researchers have considered customer satisfaction, defined as pleasurable fulfillment by Oliver, a conceptually sound and practical post consumption outcome measure. Satisfaction has not, however, been without its critics. Reichheld(1996), led a challenge to satisfaction as a useful predictor of behavior and has argued for replacing it as an operational target with loyalty. Customer satisfaction has significant implications for the economic performance of firms (Bolton, Lemon, and Verhoef, 2004). For example, customer satisfaction has been found to have a negative impact on customer complaints and a positive impact on customer loyalty and usage behavior (Bolton 1998; Fornell, 1992). Increased customer loyalty may increase usage levels (Bolton, Kannan, and Bramlett, 2000), secure future revenues (Rust, Moorman, and Dickson, 2002), and minimize the likelihood of customer defection (Anderson and Sullivan 1993). Customer satisfaction
may also reduce costs related to warranties, complaints, defective goods, and field service costs (Fornell, 1992). Cardozo (1965) cited that customer satisfaction with a product presumably leaded to repeat purchase, acceptance of other products in the same product line, and favorable word-of-mouth publicity.
Customer loyalty Selnes(1993) thinks that customer's loyalty represents consumer behavior inclination to the products and service. It can be regarded as the important factor to control consumers buying behavior actually. and its also called the brand loyalty. Reichheld and Sasser (1990) consider that customers satisfaction will raise the enterprises loyalty, and the rising of loyalty means that customers will increase greatly in the repeated probability bought in the future. Jones and Sasser(1995) divide the measurement of customer's loyalty into three kinds: intent to repurchase, primary behavior, and secondary behavior. Consumer loyalty has been defined in various ways ranging from a probability of repurchase to proportion of purchase (Sivadas and Baker-Prewitt, 2000). Jacoby and Chestnut (1978) identified over fifty operational definitions of loyalty and concluded that the idea that is central to many of these definitions is that loyalty is related to the proportion of expenditure devoted to a specific brand or store (East, Harris, Willson and Lomax, 1995). At a more general level, consumer loyalty can be described as a positive propensity toward a store or brand. Dick and Basu (1994) argued that much of the existing research on consumer loyalty has focused on measurement and segmentation issues, and that more emphasis
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should be placed on integrating loyalty into the larger body of marketing theory (Macintosh and Lockshin, 1997). Henry (2000) cautions though that loyalty, despite its importance, is a fuzzy and under-analyzed concept and is often confused with consumer retention and more importantly the reasons for consumer retention. In an effort to provide a more integrated perspective of loyalty, Dick and Basu (1994) proposed a conceptual framework based on the strength of a consumers relative attitude and repeat purchase behavior. This conceptual framework also considers the antecedents of attitude and factors that may mediate the attitude/behavior relationship. We have clarified many related terms and now we are going to discuss the loyalty concept itself. Simply put, loyalty is about improving retention and increasing share of customer.
CRM, loyalty, and satisfaction Developing a loyal customer base requires not only a clear value proposition and marketing strategy, but also an understanding of the retailer-customer relationship, the different types of loyalty strategy, and the cost effective deployment of (CRM techniques. Understanding the basis of the relationship between retailers and customers is central to creating a robust loyalty strategy. Customer satisfaction is a vital CRM variable that must not evade our empirical scrutiny. Indeed, customer satisfaction is central to successful application of the marketing concept. Many company mission statements and marketing plans are designed around the goal of increasing customer satisfaction (Fournier and Mick 1999). Customer satisfaction can be defined as the extent to which a products perceived performance in delivering value matches a buyers expectations (Armstrong and Kotler 2003).
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Many evidences support that the relationship between satisfaction and loyalty is positive. For example, Reichheld and Sasser (1990 ) suggest that to improve customer satisfaction can make customer's loyalty increase in the future. Bitner (1990) concludes that customer satisfaction is the antecedent to loyalty and has a positive influence on loyalty. Anderson and Sullivan (1993) suggest that customer satisfaction has a positive influence on repurchase behavior, and repurchase behavior and intention is a representation of loyalty. As a result, there exists a positive relationship between satisfaction and Loyalty.
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Focusing on Customers
H1a
Customer Satisfaction H3
H1b
H2
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Research Hypotheses Customer Relationship Management (CRM) One of the primary goals of CRM is to retain customer or to maintain customer loyalty (Anderson and Srinivasan, 2003; Aspinall, Nancarrow, and Stone 2001; Verhoef 2003). The application of CRM also through the stages of relationship initiation, maintenance, and termination helps firms manage customer relationships more effectively (Reinartz, Krafft, and Hoyer 2004). In turn, the effective management in customer relationship is the key to managing customer satisfaction and customer loyalty. Thus, the following hypotheses are proposed: H1a, H2a, H1b, and H2b. Customer Satisfaction Woodruff et al., (1993) regarded that value and satisfaction affected with each other in consumers attitude about product experience. More and more firms know that analyzing the customer satisfaction is an important thing. If the manager can look for the key factors of products or service satisfaction which affected the consumers, the firms might to transfer the experience of using products or getting service by consumers and make the consumers getting the best satisfaction (Petrick, Morais and Norman, 2001). In other words, creating the better experience value will create the more satisfaction. H1aCustomer Satisfaction will be positively influenced by Focusing on Customers. H1bCustomer Loyalty will be positively influenced by Focusing on Customers. H2aCustomer Satisfaction will be positively influenced by Managing Knowledge.
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H2bCustomer Loyalty will be positively influenced by Managing Knowledge. Customer Loyalty Reichheld and Sasser (1990) proposed that increasing customer loyalty can increase customers loyalty in the future. Most studies on the relationship between consumer satisfaction and loyalty consistently support that these two constructs are strongly related (Fornell, 1992). It is hypothesized that: H3Customer Loyalty will be positively influenced by Customer Satisfaction. The operational definition of variables There are four research dimensions in this study, including external variable: CRM (Focusing on Key Customers, knowledge management), and mediating variables: customer satisfaction and dependent variables: customer loyalty. Customer relationship management (external variable) The subjects of this research are department store's consumer. This research will emphasize on the department store customer relation management: (1) Focusing on Key Customers, (2) knowledge management. Focusing on Customers All interactions in focusing on customers, who are often identified to be lifetime value computations, its must fully, reflect the CRM focus on in the company (Jain and Singh 2002; Schmid and Weber 1998). The final goal is to achieve the absolute necessary customer relationships between seller organization and deep customer (Vandermerwe 2004). Knowledge Management
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Salespeople are equipped with the mean of customer knowledge to meticulously adjust marketing to offer the idiosyncratic needs of each customer (Armstrong and Kotler, 2003). Managing knowledge exhibits a significant and direct effect on both customer satisfaction and retention. Chonko et al. (2003) stress that it must to establish a continuous organizational learning environment to achieve, creative and promote the long-term relationships and business performance of customer knowledge. Cooper (1992) also observed that the customer knowledge procedure will become essential condition of deciding products performance, and defined that ability of customers knowledge is the key factor to raise the new products characteristic. Customer knowledge will not be produced automatically, and itself also can't create the direct performance (Demarest, 1997), it must rely on the customers knowledge management ability in the organization, and achieve the goal of meeting customer's demand in enterprises. Customer Satisfaction (Mediating variable) The alteration of customer satisfaction is often the factor that settler to plan product marketing strategies. According to Ostrom and Iacobucci (1995), a kind of relative judgment, at the same time, they considers the quality and interests obtained by customer through one buy, and how much costs and hard to afford in order to reach the buy (Nicholls et al., 1998). Customer Loyalty (dependent variable) Griffin (1998) proposed customer loyalty has four characteristicsrepeat purchasing frequently, purchasing other products or services that the company provided, building word-of-mouth, and a resistance to promotion that other
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competitors follow out. Moreover, Sirohi et al. (1998) mentioned that three measures for the store loyalty are: willingness to repurchase, willingness to purchase more in the future, and willingness to recommend the store to others. Dimensions and Measurement Item Function of the CRM This study adapts the research of Yim, Frederick H.k., Anderson and Swaminathan, to develop the measurement indicate, as listed in Table 1.
Table 1 CRM Measurement Items Constructs Operational Definitions 1. 2. Offer the service to meet customer demand, and establish the loyalty relation with the customer. 3. Measurement Items Department store provides customized services and products to its key customers. Department store provides special services and products to its key customers. When Department store finds that customers would like to modify a product or service, the other related departments make efforts to coordinate. Department store makes an effort to find out whats the customer needs. Department store treats every customer with great care. Department store provides channels to do the two-way communication continuously between its key customers and itself. Customers can expect exactly when services will be performed. Department store fully understands customers needs.
Focusing on Customers
4. 5. 1.
Knowledge Management
2. 3.
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Satisfaction This study adapts the research of Harris and Goode (2004) to develop the measurement indicate, as listed in Table 2.
Table 2 Satisfaction Measurement Items Constructs Operational Definitions 1. After purchasing goods or receiving services, the benefit brought customers an integral attitude. 2. 3. 4. Measurement Items To sum up, the products / services of the department store fit my expectancy. To sum up, I feel satisfied with these service and products in this department store. It is a clever choice that I choose to buy from this department store. I am very satisfied with the purchase decision of this department store.
Satisfaction
Loyalty This study adapts the research of Srinivasan, Anderson and Ponnavolu (2002) to develop the measurement indicate, as listed in Table 3.
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Table 3 Loyalty Measurement Items Constructs Operational Definitions 1. 2. Customers have a positive attitude toward a particular brand and promise and intent to revisit the department store. Measurement Items I think that I am the faithful customer in this department store. In the future, I am still willing to purchase the commodity or the service, which I need in this department store. When I want buy this goods, this department store is my first choice. I will recommend this department store for relatives and good friends. Even other department stores have cheaper prices, I will buy here. Generally speaking, I thought it is very trouble to change another department store.
3. 4. 5. 6.
Loyalty
Research Sample The subjects of this study are those customers who were shopping in the department stores including Shin Kong Mitsukoshi, Sogo, Taipei 101, Living Mall, and Far East in Taipei. The main survey scope is the department stores in Taipei City. The study conducts convenient survey to do questionnaires near each department store on February 5 to April 15, 2007. This survey collected 350 questionnaires among then 322 usable.
Data Analysis Method According to the need of each research variables and hypothesis, SPSS 14.0 for Windows and AMOS 6.0 were used to analyze data and estimate the relationships among the constructs in the model with structural equation modeling (SEM) and data
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analysis with the collected data. 1. Descriptive StatisticsTo describe the sample structure. This study use frequency distribution to understand the distribution of samples. 2. Reliability and Validity AnalysisAfter completing exploratory factor analysis, reliability test was conducted to know the reliability and efficiency of pretest. The internal reliability refers to the internal consistency of the items within a pretest. The Cronbachs greater than 0.7 indicate minimum acceptable reliability for research. 3. Confirmatory Factor AnalysisThis study adopted AMOS 6.0 statistical package to process CFA and showed standard model evaluation criteria, and test convergent validity. Discriminant validity was evaluated for all construct pairs by examining the observed correlation of the constructs.
As shown in Table 4, there are 322 valid respondents, representing a response rate of 92%.
Description of the basic data of valid samples is as follows: In terms of gender, the size of female samples (56.8%) is greater than male samples (43.2%); the size of unmarried samples (81.4%) is greater than married samples (18.6%); most samples are at 21-30 years of age (59.5%) with an education attainment of university or higher (73%); most of them are working for service (34.2%) with a dispensable income at $20,001-30,000 (37.6%).
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Table4 Sample Profile Demographic Gender Marriage Item Female Male Unmarried Married Under20 21~30 31~40 41~50 Over 51 Public official Service Occupation Industry Business Household Student Other Under elementary school Junior Senior College Graduate Over post Graduate Degree Under15,000 15,001~20,000 20,001~30,000 30,001~45,000 45,001~50,000 Over50,001 Number of Responden Percentage (%) 183 139 262 60 15 235 61 8 3 14 110 55 8 10 73 52 4 5 53 196 64 77 92 121 18 6 8 56.8 43.2 81.4 18.6 4.7 73 18.9 2.5 0.9 4.3 34.2 17.1 2.5 3.1 22.7 16.1 1.2 1.6 16.5 60.9 19.9 23.9 28.6 37.6 5.6 1.9 2.5
Age
Education
Income
The means and standard deviations for all variables were computed and are shown in Table 5. Given the 7-point Likert scale adopted in questionnaire, the mean
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of 18 variables ranges from 2.711 to 4.662. The standard deviation of 18 variables ranges from 1.073 to 1.681. Table5 Measurement Items for Mean Value and Standard Deviation Function item CRM- Focusing on Customers FKC1 Provides customized services and products FKC2 Provides special services and products to meet customers demand. FKC3 When Department store finds that customers would like to modify a product or service, the other related departments make efforts to coordinate. FKC4 Department store makes an effort to find out whats the customer needs. FKC5 Department store treats every customer with great care. CRM-Knowledge Management KM1 The two-way communication continuously between ours key customers and us. KM2 Customers can expect exactly when services will be performed. KM3 I am very satisfied with the purchase decision. Customer Satisfaction Sat1 The products / services accord with my expectancy. Sat2 I feel satisfied with service and products Sat3 It is a clever choice to buy Sat4 Satisfied with the purchase decision Customer Loyalty Loy1 I think that I am the faithful customer. Loy2 I am still willing to purchase the commodity or the service in the future. Loy3 This department store is my first choice. Loy4 I will recommend for relatives and friends. Loy5 Even other department stores have cheaper prices and I will buy here. Loy6 I think that I am the faithful customer. Source: This study. Mean 2.835 2.711 2.969 2.919 2.950 Standard Deviation 1.213 1.091 1.138 1.149 1.188
3.180 3.112 3.080 2.717 2.811 2.957 3.040 3.183 2.835 3.202 3.165 4.662 4.118
1.284 1.228 1.244 1.081 1.073 1.227 1.161 1.349 1.163 1.323 1.243 1.702 1.681
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Reliability and Validity Reliability analysis This study uses SPSS 14.0 for Windows to calculate all reliabilities of the constructs. As Table 6 shows, and all constructs reliabilities are above the minimum level of 0.7 recommended by Nunnally and Bernstein (1994). Table 6 The Tests of Reliability of the Constructs Constructs Focusing on Customers Knowledge manager Satisfaction Loyalty Source: This study. Cronbach 0.869 0.875 0.893 0.860
Variance extracted After using AMOS 6.0 to run CFA, this study computed the variance-extracted values of each construct. Guidelines suggested that the variance-extracted value should exceed 0.5 for a construct (Fornell and Larcker, 1981). The variance extracted values for all the constructs are above 0.5, except the loyalty is 0.340, and it was also acceptable. It is shown in Table7.
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Table 7 Results from Test on Validity Constructs and Dimensions FKC1 FKC2 FKC3 FKC4 FKC5 Standardized factor loading Standard Error Variance Extracted 0.559 0.045 0.044 0.034 0.026 0.023 13.58 14.39 22.47 32.77 36.13 0.646 0.026 0.017 0.021 30.27 51.00 41.05 0.558 0.038 0.037 0.031 0.028 20.53 21.62 26.16 29.29 0.340 0.022 0.030 0.022 0.031 0.048 0.041 37.45 27.63 38.77 25.77 8.63 14.24
t value*
Customer Satisfaction(Sat) Sat1 Sat2 Sat3 Sat4 0.780 0.800 0.811 0.820
Customer Loyalty(B2CLOY) Loy1 Loy2 Loy3 Loy4 Loy5 Loy6 *: p<0.000 of all t value Source: This study. 0.824 0.829 0.853 0.799 0.414 0.584
Discriminate Validity The chi-square difference test can be applied to evaluate the discriminant validity of two constructs by calculating the difference of the chi-square statistics for the
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constrained and unconstrained measurement models. Discriminant validity is achieved if the chi-square difference (with 1 df) is significant, meaning that the model in which the two constructs were viewed as distinct (but correlated) factors is superior. Since all the chi-square difference statistics for every two constructs exceed 2 (1, 0.05) =3.841 if any two constructs has discrimanant validity (Hatcher, 1994). Four constructs in this study had good discriminant validity. It is shown in Table 8. Table 8 Chi-Square Difference Tests for Examining Overall Discriminant Validity Standard Measurement Model Construct Pair 2(48)=131.388 Constrained Chi-Square model Difference 2(49) 146.784 15.396 224.175 230.048 92.787 98.66
This study focused on understanding the nature of the relationship. Using AMOS, this study tested the proposed framework. This study evaluated the measurement model and considered the relationship between observed measures and latent constructs, and then also tested the specified hypotheses between the latent constructs.
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DF=124/DF=2.809, which is smaller than 3; The RMSEA= 0.075 is smaller than the acceptable value 0.08; the NFI=0.920, RFI=0.902, CFI= 0.947, TLI=0.934 and IFI=0.947 are all greater than 0.90. According to Hu and Benlers (1999) standards of model fitting, the results of analysis suggested that a reasonable fit of the model. And the results of the goodness of fit are given in Table 9.
Table 9 Goodness-of-Fit Items Chi-Square/ Chi-Square DF Comparative Fit Index (CFI) Normed Fit Index (NFI) Tucker-Lewis Index(TLI) Relative Fit Index (RFI) Incremental Fit Index (IFI) Root Mean Square Error of Approximation (RMSEA) Source: This study. Indices 2.809 0.947 0.920 0.934 0.902 0.947 0.075 Fit Criteria <3 >0.9 >0.9 >0.9 >0.9 >0.9 <0.08
Research Findings
The estimated value of path parameters, significance and results of research hypotheses testing are shown in Table 10. As Table 10 presents, results of analysis using AMOS indicated that focusing on key customers and knowledge management positively affect on satisfaction; and satisfaction also positively affects on loyalty. Hence, H1a, H2a, H1b and H3 are supported. Knowledge management has not significantly influence on loyalty. Hence,
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Hypotheses 2b is not supported. Table 10 Structure model estimate Standardized Direct (Indirect) Effect .465(.000) .537(.422) .385(.000) -.584(.348) .906(.000)
Hypothesis
Expected Sign
Results
As Table 10 presents, focusing on key customers has significantly direct effect loyalty and regression coefficient is 0.53. Satisfaction cause mediator on between the focusing on key customers and loyalty, and indirect effect is equal to 0.537; total effect is 0.959. Thus, satisfaction partially mediates the relationship between focusing on key customers and loyalty. Knowledge management has no significantly direct effect on loyalty but mediated by satisfaction and has indirect effect on loyalty with the value of 0.348. Thus, satisfaction mediates the relationship between knowledge management and loyalty.
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Managerial implications Based on empirical analysis the results verify the applicability of the model, meanwhile help the enterprises to dig out the strategy to assist their practical operations. The establishment of customer relationships can help enterprises understand the real needs of customers and provide customers with unique services, which are different from those by their competitors who are unable to offer the same value and the difference is effective. With a close customer relationship, enterprises can get rid of the cut-throat price competition and blind promotion. In addition, they change to customer preference interaction, provide intimate customer service, and cultivate strong customer loyalty so as to facilitate enterprises stay in business forever. The study also found that the characteristics of the customer groups in different department stores and demographic variables are different. Therefore the following management recommendations are provided for the department store industry when promoting customer relationship management. This study found that when wishing to enhance customer loyalty, the effective strategy is to build a good CRM functional program, which has equal effects on customer satisfaction and loyalty. Therefore department store industries which want to retain the customers from different channels, even to develop new sources of customers so as to upgrade competitive advantage in the industry, the primary method is to establish a perfect CRM functional program. In particular, to increase knowledge management is the most important item perceived. Once CRM is introduced; senior managers should fully empowered sales personnel to provide customers with comprehensive and professional services. In addition, the department store can sends experienced staff with expertise to walk around in the department store to serve
30
customers who need assistances in order to make customers to have confidence in the department stores and establish a good reputation, and at the same time, reduce old customers complaints. Therefore, the department store industry has to construct perfect CRM functional programs to make consumers satisfied and gain consumers trust, and then, in turn, to earn consumers promise to continually visit the store in the future. To establish long-term cooperation and reciprocal relationships for the future with customers to be able to have a good interaction will be the important factors of influencing consumers to continue to go to the department store.
Limitations and Suggestions for Future Research Under the restrictions of the study time, funding, and personal knowledge, although this study design complies with the principles of science, due to the restrictions of the study, it was still unable to cover everything. Therefore focusing on the shortcomings of this study, we provide several suggestions, as exploring directions for future researchers. 1. A major limitation is that we were limited to apply to overall department store consumers. Sampling population of this study is the consumer in four of department store within Taipei area merely. 2. It is because that satisfaction is not just only the factor to influence customer loyalty. The researcher can use or increase the different factor to study.
31
BIBLIOGRAPHY
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32
no.1 (1998): 4565. Bowman, D. and D. Narayandas. Managing Customer Initiated Contacts with Manufacturers: The Impact on Share of Category Requirements and Word-of-Mouth Behavior. Journal of Marketing Research 38 (2001): 281-297 Cardozo, R. An Experimental Study of Customer effort, Expectation and Satisfaction, Journal of Marketing Research 2 (1965): 244-249. Chonko, B. L., J. A. Dubinsky, J. Eli, and A. R. James. Organizational and Individual Learning in the Sales: An Agenda for Sales Research. Journal of Business Research 56 , no.12 (2003): 935946. Churchill, G.A. and C. Surprenant. An Investigation into the Determinants of Customer Satisfaction. Journal of Marketing Research 19 (1982): 491-504. Cooper, B.S. Labor. Relations in Education: An International Perspective, Westport: Greenwood Press (1992). Crosby, L. A. and S. L. Johnson. High Performance Marketing in the CRM Era. Marketing Management10, no.3 (2001): 10 - 11. Demarest, M. Understanding Knowledge Management. Long Range Planning 30 , no.3 (1997): 374-384. Dick, A. S. and K. Basu. Customer Loyalty: Towards an Integrated Framework. Journal of the Academy of Marketing Science 22, no.2 (1994): 99-113. East, R., P. Harris, G. Wilson, and W. Lomax. Loyalty to Supermarkets. International Review of Retail, Distribution and Consumer Research 5, no.1 (1995): 99-109. Fornell, C. and D. F. Larcker. Evaluating Structural Equation Models with Unobservable and Measurement Error. Journal of Marketing Research 18 (1981): 39-50. Fornell, C. A National Customer Satisfaction Barometer: The Swedish Experience. Journal of Marketing 6 (1992): 121. Fornell, S. M., F. V. Morgeson, and M. S. Krishnan. Customer Satisfaction and Stock Prices: High Returns, Low Risk. Journal of Marketing 70 (2006): 314. Fournier, S., S. Dobscha, and D. Mick. Preventing the Premature Death of Relationship
33
Marketing, Harvard Business Review 76, no.1 (1998): 4249. Fournier, S. and D. Mick. Rediscovering Satisfaction, Journal of Marketing, 63, no.4 (1999): 5-23. Fox, T. and S. Stead. Customer Relationship Management: Delivering the Benefits. White Paper (2001). Griffin, J. The Internets Expanding Role in Building Customer Loyalty. Direct Marketing 59, no.7 (1996): 50-53. Griffin, J. Customer Loyalty: Earning It and Keeping It. Discount Merchandiser 38, no.3 (1998): 98. Grisaffe, D. Putting Customer Satisfaction in Its Place: Broader Organizational Research Perspectives Versus Measurement Myopia. Journal of Consumer Satisfaction, Dissatisfactio, and Complaining Behavior 3 (2000): 1-16. Gruca, S. T. and L. L. Rego. Customer Satisfaction, Cash Flow, and Shareholder Value. Journal of Marketing 69 (2005): 11530. Gummesson, E. Practical Value of Adequate Marketing Management Theory. European Journal of Marketing 36, no.3 (2002a): 325349. Hatcher, L. A Step-by-Step Approach to Using the SAS System for Factor Analysis and Structural Equation Modeling. Cary, NC: SAS Institute. (1994). Harris, L. C. and H. M. M. Goode. The Four Levels of Loyalty and the Pivotal Role of Trust: A study of Online Service Dynamics. Journal of Retailing 80 (2004): 139-158. Henry, C. D. Is Customer Loyalty a Pernicious Myth? Business Horizons 43, no.4 (2000): 13-16. Hu, L. T. and P. M. Bentler. Cutoff Criteria for Fit Indexes in Covariance Structure Analysis: Conventional Criteria versus New Alternatives. Structural Equation Modeling 6, no.1 (1999): 1-55. Jacoby, J. and R. W. Chestnut. Brand Loyalty Measurement and Management, New York: John Wiley (1978).
34
Jain, D. and S. S. Singh. Customer Lifetime Value Research in Marketing: A Review and Future Directions. Journal of Interactive Marketing 16, no.2 (2002): 3446. Johnson, M. D. and F. Selnes. Customer Portfolio Management: Toward a Dynamic Theory of Exchange Relationships, Journal of Marketing 68, no.2, (2004)1-17. Jones, T. O. and W. E. Sasser. Why Satisfied Customers Defect. Harvard Business Review 73 (1995): 88-89. Kamakura, A. W., M. Vikas, R. Fernando and J. A. Mazzon. Assessing the Service Profit Chain. Marketing Science 21 (2002): 294317. Kotler, Philip, Dipak C. Jain, and Suvit Maesincee.Marketing oves: A New Approach to Profits, Growth, and Renewal.Boston: Harvard Business School Press (2002). Langerak, F., and C. P. Verhoef. Strategically Embedding CRM. Business Strategy Review 14, no.4 (2003): 7380. Macintosh, G. and L. S. Lockshin. Retail Relationships and Store Loyalty: A Multi-Level Perspective. International Journal of Research in Marketing 14, no.5 (1997): 487-497. Nicholls, R. D. and S. B. Saitoh. Horsthemke.Imprinting in Prader-Willi and Angelman syndromes. Trends Genet 14 (1998): 194-200. Niraj, R., M. Gupta, and N. Chakravarthi. Customer Profitability in a Supply Chain. Journal of Marketing 65 (2001): 1-16. Nunnally, J. C. and I. H. Bernstein. Psychometric Theory 3rd ed., New York: McGraw-Hill (1994). Oliver, R. L. A Cognitive Model of the Antecedents and Consequences of Satisfaction Decision. Journal of Marketing Research 17, no.3 (1980): 46-49. Ostrom, A. and D. Iacobucci. Consumer Trade-Offs and the Evaluation of Services. Journal of Marketing, no.1 (1995): 117-28. Petrick, J. F., D. D, Morais, and W. C. Norman. An Examination of the Determinants of Entertainment Vacationers Intentions to Revisit. Journal of Travel Research 40, (2001): 41-48.
35
Reinartz and V. Kumar. On the Profitability of Long-Life Customers in a No contractual Setting: An Empirical Investigation and Implications for Marketing. Journal of Marketing 64 (2000): 1735. Reichheld, F. The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value. Harvard Business School Press, Boston MA (1996). Reichheld, F. F. and W. E. Sasser. Zero Defections: Quality Comes to Services. Harvard Business Review 68 , no.5 (1990): 105111. Reinartz, W., M. Krafft, and D. W. Hoyer. The Customer Relationship Management Process: Its Measurement and Impact on Performance. Journal of Marketing Research 41 (2004): 293305. Ryals, S. and K. Lynette. Cross-Functional Issues in the Implementation of Relationship Marketing through Customer Relationship Management. European Management Journal 19, no.5 (2001): 534542. Rust, T. R., C. Moorman., and R. P. Dickson. Getting Return on Quality: Revenue Expansion, Cost Reduction, or Both? Journal of Marketing 66 (2002): 724. Schmid, J. and A. Weber. Desktop Database Marketing. Chicago: NTC Business Books. (1998). Schriver, S. Customer Loyalty: Going, Going... American Demographics 19, no.9 (1997). Selnes, F. An Examination of the Effect of Product Performance on Brand Repution, Satisfaction and Loyalty. European Journal of Marketing 27, no.9 (1993): 19-35. Singh, J. and D. Sirdeshmukh. Agency and Trust Mechanisms in Consumer Satisfaction and Loyalty Judgments. Journal of Academy of Marketing Science 28, no.1 (2000): 150-167. Sirohi, N., W. W. McLaughlin, and D. R. Wittink. A Model of Consumer Perceptions and Store Loyalty Intentions for a Supermarket. Journal of Retailing 74, no.2 (1998): 223-245. Sivadas, E. and J. L. Baker-Prewitt. An Examination of the Relationship between
36
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37
/ Email: rita60716@yahoo.com.tw
1. 2. 1. 2. SOGO 3. 101 4. 5.
38
1. 2. 3. 4. 5. 6. 7. 8.
1./ 2. 3. 4.
39
1. 2. 3. 4. 5. 6.
1. 2. 3. 4. 5. 20 2130 3140 4150 5160 61 () () ()
40
VITA
My name is Hsiu-Chun Hsu (), , daughter of Chin- Hsiang Hsu () and Bi-Sia Guo()was born the second child in a happy family on January 20 , 1982 in Taipei. She was graduated from Shilin High School of Commerce in 2000, and then matriculated at International trade of Aletheia University. After receiving her bachelor degree in 2005, she was admitted to the Graduated School of Management of Tatung University in the next year and graduated in June 2007. Permanent Address: No.49, Lane 69, Taode Rd., Taoyuan City, Taoyuan County 33061, Taiwan (R.O.C.)
th
satisfaction. The mediating effects of customer satisfaction on the relationship between CRM and customer loyalty were investigated. And the results reveal that customer satisfaction positively and significantly mediating the effects of CRM function on customer loyalty. The major findings of this study are summarized as following:
1.
Overall, the global model fit is acceptable. This empirical result supports that the significant relationships exist among the CRM functional programs, customer satisfaction and customer loyalty.
2.
The strengthening of department stores CRM functional programs-customer knowledge management has positive influence on customer satisfaction.
3.
The department store customer satisfaction may establish the customers loyalty and will strengthen mutual interaction in future
Keywords: Customer Relationship Management, Customer Satisfaction, Customer Loyalty, Structure Equation Modeling (SEM)
ii
CRM
1.
2.
3.
iii
iv
Page CRM .................................................................................... 13 ..................................................................................... 14 ..................................................................................... 14 ................................................................................................. 16 ........................................................................................................ 18 CRM, t ............................................................. 19 ..................................... 20
vi
vii
(Schriver, 1997)
(Anderson, Fornell, and Mazvancheryl 2004; Fornell 1992) (Fornell et al. 2006) (Gruca and Rego 2005) (CRM)
CRM
CRM
CRM
3 (ICT)
2
(1)
(2)
(3) CRM
150
CRM(Customer Relationship Management) (Langerak and Verhoef, 2003) (Gummesson 2002a) (Fournier, Dobscha, and Mick, 1998) CRM IT (1) (2) CRM (3) (4) Yim and Frederick (2002) CRM CRM
CRM
2001; Ryals and Knox, 2001) CRM (Kamakura et al. 2002) (Reinartz andKumar, 2000) (Niraj, Gupta, and Narasimhan, 2001) (Verhoef, 2003) Berry(1983) (CRM)
80
Oliver(1980)
Selnes(1993) Reichheld (1990) Jones Intent To Repurchase Secondary Behavior (Sivadas and Baker-Prewitt, 2000) Jacoby and Chestnut (1978) 50 Sasser(1995) Primary Behavior Sasser
Dick and Basu (1994) (Macintosh and Lockshin, 1997) Henry (2000)
(CRM)
CRM
1990
CRM
CRM
D S N
H1a
! !
H1b H3 H2a
!
H2b
! !
CRM 2003; Aspinall, Nancarrow, and Stone 2001; Verhoef, 2003) CRM
10
Woodruff et al.,(1993)
(Fornell, 1992) H3
CRM(
)
11
(1) (2) ( )
CRM
(Jain and Singh 2002; Schmid and Weber 1998) (Vandermerwe 2004)
) (Armstrong
"
"
Chonko et al.,(2003)
Cooper(1992)
(Demarest, 1997)
12
( ( )
CRM
13
SOGO
101
05
2007
15
14
AMOS
15
322
92%
183 139 262 60 20 21 30 31 40 41 50 51 15 235 61 8 3 14 110 55 8 10 73 52 4 5 53 196 64 15,000 15,001~20,000 20,001~30,000 30,001~45,000 45,001~50,000 50,001 77 92 121 18 6 8
(%) 56.8 43.2 81.4 18.6 4.7 73.0 18.9 2.5 0.9 4.3 34.2 17.1 2.5 3.1 22.7 16.1 1.2 1.6 16.5 60.9 19.9 23.9 28.6 37.6 5.6 1.9 2.5
16
17
CRMFKC1 FKC2 FKC3 FKC4 FKC5 CRMKM1 KM2 KM3 Sat1 Sat2 Sat3 Sat4 Loy1 Loy2 Loy3 Loy4 Loy5 Loy6 /
2.835 2.711 2.969 2.919 2.950 3.180 3.112 3.080 2.717 2.811 2.957 3.040 3.183 2.835 3.202 3.165 4.662 4.118
1.213 1.091 1.138 1.149 1.188 1.284 1.228 1.244 1.081 1.073 1.227 1.161 1.349 1.163 1.323 1.243 1.702 1.681
18
19
t t (FCK) FKC1 FKC2 FKC3 FKC4 FKC5 (KM) KM1 KM2 KM3 (Sat) Sat1 Sat2 Sat3 Sat4 (Loy) Loy1 Loy2 Loy3 Loy4 Loy5 Loy6 *: t p<0.000 0.824 0.829 0.853 0.799 0.414 0.584 0.022 0.030 0.022 0.031 0.048 0.041 37.45 27.63 38.77 25.77 8.63 14.24 0.780 0.800 0.811 0.820 0.038 0.037 0.031 0.028 20.53 21.62 26.16 29.29 0.340 0.787 0.867 0.862 0.026 0.017 0.021 30.27 51.00 41.05 0.558 0.611 0.633 0.764 0.852 0.831 0.045 0.044 0.034 0.026 0.023 13.58 14.39 22.47 32.77 36.13 0.646 * 0.559
Hatcher (1994)
2(1,0.05)=3.841
20
2(1,0.05)=3.841
(SEM)
AMOS DF =2.775 0.8 (NFI) = 0.921 0.9 3.0 (GFI) = 0.895 0.9
2 =44.082
DF =124
21
Items Chi-Square/ Chi-Square DF Comparative Fit Index (CFI) Normed Fit Index (NFI) Tucker-Lewis Index(TLI) Relative Fit Index (RFI) Incremental Fit Index (IFI) Root Mean Square Error of Approximation (RMSEA)
H1a,H2a,H1b
H3
H2b
( FCK Sat FCK Loy MK Sat MK Loy Sat Loy H1a H1b H2a H2b H3 .41 .53 .32 -.54 1.02
0.53
22
0.42
0.959
0.348(P<0.05)
-.235
23
CRM CRM (Anderson and Srinivasan 2003; Johnson and Selnes 2004) ARC 25% 5 Grisaffe(2000) Griffin(1996) (2001)
24
CRM
CRM
CRM
25
1.
2.
26
Anderson, W. E., F. Claes, and K. S. Mazvancheryl. Customer Satisfaction and Shareholder Value. Journal of Marketing 68 (2004): 172-185. Anderson, W. E. and M. Sullivan. The Antecedents and Consequences of Customer Satisfaction for Firms, Marketing Science 12 (1993): 125-143. Anderson, R. E. and S. S. Srinivasan. E-Satisfaction and E-Loyalty: A Contingency Framework. Psychology and Marketing 20 , no.2 (2003): 122138. Armstrong, G. and P. Kotler. Marketing an Introduction 6rd ed., New Jersey: Prentice Hall (2003). Aspinall, E., C. Nancarrow, and M. Ston. The Meaning and Measurement of Customer Retention. Journal of Targeting, Measurement and Analysis for Marketing10, no.1 (2001): 79-87. Bearden W. O. and J. E. Teel. Selected Determinants of Consumer Satisfaction and Complaints Reports. Journal of Marketing Research 20 (1983): 25. Berry, L. L., G. L. Shostack, and G. D. Upah, Relationship Marketing. Perspectives in services marketing (1983). Bitner, J. M. Evaluating Service Encounters: The Effects of Physical Surrounding and Employee Responses. Journal of Marketing 54 (1990): 69-82 Bolton, N., K. Lemon, and C. P. Verhoef,.Theoretical Underpinnings of Customer Asset Management: A Framework and Propositions for Future Research. Journal of the Academy of Marketing Science 32 (2004): 27192. Bolton, R. N., P. K. Kannan, and M. D. Bramlett. Implications of Loyalty Program Membership and Service Experiences for Customer Retention and Value. Journal of the Academy of Marketing Science 28 , no.1 (2000): 95108. Bolton, N. R. A Dynamic Model of the Duration of the Customer s Relationship with A Continuous Service Provider: The Role of Satisfaction. Marketing Science 17 , no.1 (1998): 4565.
Bowman, D. and D. Narayandas. Managing Customer Initiated Contacts with Manufacturers: The Impact on Share of Category Requirements and Word-of-Mouth Behavior. Journal of Marketing Research 38 (2001): 281-297 Cardozo, R. An Experimental Study of Customer effort, Expectation and Satisfaction, Journal of Marketing Research 2 (1965): 244-249. Chonko, B. L., J. A. Dubinsky, J. Eli, and A. R. James. Organizational and Individual Learning in the Sales: An Agenda for Sales Research. Journal of Business Research 56 , no.12 (2003): 935946. Churchill, G.A. and C. Surprenant. An Investigation into the Determinants of Customer Satisfaction. Journal of Marketing Research 19 (1982): 491-504. Cooper, B.S. Labor. Relations in Education: An International Perspective, Westport: Greenwood Press (1992). Crosby, L. A. and S. L. Johnson. High Performance Marketing in the CRM Era. Marketing Management10, no.3 (2001): 10 - 11. Demarest, M. Understanding Knowledge Management. Long Range Planning 30 , no.3 (1997): 374-384. Dick, A. S. and K. Basu. Customer Loyalty: Towards an Integrated Framework. Journal of the Academy of Marketing Science 22, no.2 (1994): 99-113. East, R., P. Harris, G. Wilson, and W. Lomax. Loyalty to Supermarkets. International Review of Retail, Distribution and Consumer Research 5, no.1 (1995): 99-109. Fornell, C. and D. F. Larcker. Evaluating Structural Equation Models with Unobservable and Measurement Error. Journal of Marketing Research 18 (1981): 39-50. Fornell, C. A National Customer Satisfaction Barometer: The Swedish Experience. Journal of Marketing 6 (1992): 121. Fornell, S. M., F. V. Morgeson, and M. S. Krishnan. Customer Satisfaction and Stock Prices: High Returns, Low Risk. Journal of Marketing 70 (2006): 314. Fournier, S., S. Dobscha, and D. Mick. Preventing the Premature Death of Relationship Marketing, Harvard Business Review 76, no.1 (1998): 4249.
28
Fournier, S. and D. Mick. Rediscovering Satisfaction, Journal of Marketing, 63, no.4 (1999): 5-23. Fox, T. and S. Stead. Customer Relationship Management: Delivering the Benefits. White Paper (2001). Griffin, J. The Internet s Expanding Role in Building Customer Loyalty. Direct Marketing 59, no.7 (1996): 50-53. Griffin, J. Customer Loyalty: Earning It and Keeping It. Discount Merchandiser 38, no.3 (1998): 98. Grisaffe, D. Putting Customer Satisfaction in Its Place: Broader Organizational Research Perspectives Versus Measurement Myopia. Journal of Consumer Satisfaction, Dissatisfactio, and Complaining Behavior 3 (2000): 1-16. Gruca, S. T. and L. L. Rego. Customer Satisfaction, Cash Flow, and Shareholder Value. Journal of Marketing 69 (2005): 11530. Gummesson, E. Practical Value of Adequate Marketing Management Theory. European Journal of Marketing 36, no.3 (2002a): 325349. Hatcher, L. A Step-by-Step Approach to Using the SAS System for Factor Analysis and Structural Equation Modeling. Cary, NC: SAS Institute. (1994). Harris, L. C. and H. M. M. Goode. The Four Levels of Loyalty and the Pivotal Role of Trust: A study of Online Service Dynamics. Journal of Retailing 80 (2004): 139-158. Henry, C. D. Is Customer Loyalty a Pernicious Myth? Business Horizons 43, no.4 (2000): 13-16. Hu, L. T. and P. M. Bentler. Cutoff Criteria for Fit Indexes in Covariance Structure Analysis: Conventional Criteria versus New Alternatives. Structural Equation Modeling 6, no.1 (1999): 1-55. Jacoby, J. and R. W. Chestnut. Brand Loyalty Measurement and Management, New York: John Wiley (1978). Jain, D. and S. S. Singh. Customer Lifetime Value Research in Marketing: A Review
29
and Future Directions. Journal of Interactive Marketing 16, no.2 (2002): 3446. Johnson, M. D. and F. Selnes. Customer Portfolio Management: Toward a Dynamic Theory of Exchange Relationships, Journal of Marketing 68, no.2, (2004)1-17. Jones, T. O. and W. E. Sasser. Why Satisfied Customers Defect. Harvard Business Review 73 (1995): 88-89. Kamakura, A. W., M. Vikas, R. Fernando and J. A. Mazzon. Assessing the Service Profit Chain. Marketing Science 21 (2002): 294317. Kotler, Philip, Dipak C. Jain, and Suvit Maesincee.Marketing oves: A New Approach to Profits, Growth, and Renewal.Boston: Harvard Business School Press (2002). Langerak, F., and C. P. Verhoef. Strategically Embedding CRM. Business Strategy Review 14, no.4 (2003): 7380. Macintosh, G. and L. S. Lockshin. Retail Relationships and Store Loyalty: A Multi-Level Perspective. International Journal of Research in Marketing 14, no.5 (1997): 487-497. Nicholls, R. D. and S. B. Saitoh. Horsthemke.Imprinting in Prader-Willi and Angelman syndromes. Trends Genet 14 (1998): 194-200. Niraj, R., M. Gupta, and N. Chakravarthi. Customer Profitability in a Supply Chain. Journal of Marketing 65 (2001): 1-16. Nunnally, J. C. and I. H. Bernstein. Psychometric Theory 3rd ed., New York: McGraw-Hill (1994). Oliver, R. L. A Cognitive Model of the Antecedents and Consequences of Satisfaction Decision. Journal of Marketing Research 17, no.3 (1980): 46-49. Ostrom, A. and D. Iacobucci. Consumer Trade-Offs and the Evaluation of Services. Journal of Marketing, no.1 (1995): 117-28. Petrick, J. F., D. D, Morais, and W. C. Norman. An Examination of the Determinants of Entertainment Vacationer s Intentions to Revisit. Journal of Travel Research 40, (2001): 41-48. Reinartz and V. Kumar. On the Profitability of Long-Life Customers in a No contractual
30
Setting: An Empirical Investigation and Implications for Marketing. Journal of Marketing 64 (2000): 1735. Reichheld, F. The Loyalty Effect: The Hidden Force Behind Growth, Profits, and Lasting Value. Harvard Business School Press, Boston MA (1996). Reichheld, F. F. and W. E. Sasser. Zero Defections: Quality Comes to Services. Harvard Business Review 68 , no.5 (1990): 105111. Reinartz, W., M. Krafft, and D. W. Hoyer. The Customer Relationship Management Process: Its Measurement and Impact on Performance. Journal of Marketing Research 41 (2004): 293305. Ryals, S. and K. Lynette. Cross-Functional Issues in the Implementation of Relationship Marketing through Customer Relationship Management. European Management Journal 19, no.5 (2001): 534542. Rust, T. R., C. Moorman., and R. P. Dickson. Getting Return on Quality: Revenue Expansion, Cost Reduction, or Both? Journal of Marketing 66 (2002): 724. Schmid, J. and A. Weber. Desktop Database Marketing. Chicago: NTC Business Books. (1998). Schriver, S. Customer Loyalty: Going, Going... American Demographics 19, no.9 (1997). Selnes, F. An Examination of the Effect of Product Performance on Brand Repution, Satisfaction and Loyalty. European Journal of Marketing 27, no.9 (1993): 19-35. Singh, J. and D. Sirdeshmukh. Agency and Trust Mechanisms in Consumer Satisfaction and Loyalty Judgments. Journal of Academy of Marketing Science 28, no.1 (2000): 150-167. Sirohi, N., W. W. McLaughlin, and D. R. Wittink. A Model of Consumer Perceptions and Store Loyalty Intentions for a Supermarket. Journal of Retailing 74, no.2 (1998): 223-245. Sivadas, E. and J. L. Baker-Prewitt. An Examination of the Relationship between Service Quality, Customer Satisfaction, and Store Loyalty. International Journal
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