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Article

Pham Hung Cuong, Oanh Dinh Yen Nguyen, Liem Viet Ngo and Nguyen Phong Nguyen

This study aims to use social exchange theory and the principle of reciprocity in proposing a theoretical model to examine the essential but unexplored unique roles of…

Abstract

Purpose

This study aims to use social exchange theory and the principle of reciprocity in proposing a theoretical model to examine the essential but unexplored unique roles of individual customer equity drivers (CEDs) and their contribution to brand loyalty. This study identifies a reciprocity pathway in that brand equity, which mediates the linkage between relationship equity and brand loyalty. This study further posits that the linkage between relationship equity and brand equity is contingent on value equity. The authors then incorporate value equity as a moderator upon which the interrelationships among CEDs and brand loyalty may vary.

Design/methodology/approach

A sample consisted of 2,268 shoppers in a metropolitan city in Vietnam.

Findings

Relationship equity significantly determines brand loyalty through the moderating effect of value equity and the mediating effect of brand equity. Interestingly, these relationships are diverse across different experiential types of consumers.

Research limitations/implications

This study contributes to a better understanding of why and when value equity, brand equity and relationship equity trigger brand loyalty. Brand equity and value equity are the two underlying mechanisms that establish a moderated mediation model between CEDs and brand loyalty. The findings of this study show that experiential consumers are not created equals. The strength of the relationships between CEDs and brand loyalty differ among the five clusters of experiential consumers.

Practical implications

This study reveals the critical relationships between the three components of customer equity in the supermarket industry. The findings provide concrete direction for managers and marketers to be more effective in allocating resources, tailoring their marketing strategies and, accordingly, promoting brand loyalty of different types of consumers.

Originality/value

This study reveals the underlying modus operandi that explains the reciprocity effects of CEDs and the contingency role of brand experience on the CEDs–loyalty link. This study shows that brand equity fosters and sustains the reciprocity generated when consumers perceive a high level of relationship equity, serving as a mediator between relationship equity and brand loyalty. Importantly, value equity is an important moderator for strengthening this reciprocity effect. Furthermore, this study identifies a typology of experience-focussed consumers and shows that the CEDs–loyalty link significantly varies by these types of experiential appeal that characterise the consumers.

Details

European Journal of Marketing, vol. 54 no. 9
Type: Research Article
ISSN: 0309-0566

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Article

Pallavi R. Kamath, Yogesh P. Pai and Nandan K.P. Prabhu

The purpose of this paper is to advance research on the relationship between customer experience and customer loyalty by exploring the serially mediating roles of brand…

Abstract

Purpose

The purpose of this paper is to advance research on the relationship between customer experience and customer loyalty by exploring the serially mediating roles of brand equity and customer satisfaction and the moderating roles of age, gender, education and family income in the retail banking industry.

Design/methodology/approach

A total of 500 responses of retail banking customers were used to test the model using the partial least squares structural equation modeling approach. Advanced statistical techniques, such as importance-performance map analysis and a joint application of FIMIX-PLS and PLS-POS, were used to gain new insights.

Findings

The study highlighted that the relationship between customer experience and loyalty is serially mediated by brand equity and customer satisfaction. Age, gender and education were found to be significant moderators in the customer experience–loyalty relationship. Age and gender were found to be significant moderators in the brand equity–loyalty relationship.

Practical implications

The study strongly suggests that practitioners not only focus on delivering exceptional customer experiences but also on providing leverage brand equity and satisfaction to build customer loyalty. Practitioners should focus on training their front-line employees to improve the quality of their behavior and relations with customers and thereby build customer loyalty.

Originality/value

To the authors’ knowledge, this is the first study to explore the mediating role of several variables sequentially and the moderating role of customer demographics in the customer experience–customer loyalty relationship.

Details

International Journal of Bank Marketing, vol. 38 no. 2
Type: Research Article
ISSN: 0265-2323

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Article

B. Ramaseshan, Fazlul K. Rabbanee and Laine Tan Hsin Hui

This paper aims to investigate the effects of customer equity drivers on customer loyalty via customer trust in a B2B context.

Abstract

Purpose

This paper aims to investigate the effects of customer equity drivers on customer loyalty via customer trust in a B2B context.

Design/methodology/approach

A self‐administered online survey was conducted to collect data from the organizational customers of an on‐hold service company in Australia. Structural equation modelling was used to analyse the data.

Findings

The study reveals that in a B2B context, value equity and relationship equity have significant influence on customer loyalty through the mediating effect of customer trust. On the other hand, brand equity is found to have no effect on customer trust and loyalty.

Practical implications

In order to obtain business customers' loyalty, managers should focus more on value and relationship equity than brand equity.

Originality/value

While most of the previous studies on “customer equity” focused on the B2C context, this study focuses on a B2B context. It demonstrates the impact of customer equity drivers on business customers' loyalty.

Details

Journal of Business & Industrial Marketing, vol. 28 no. 4
Type: Research Article
ISSN: 0885-8624

Keywords

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Article

Aihwa Chang and Chiung‐Ni Tseng

To provide a theoretic framework of the development of customer capital and an empirical verification using Taiwanese multilevel firms.

Abstract

Purpose

To provide a theoretic framework of the development of customer capital and an empirical verification using Taiwanese multilevel firms.

Design/methodology/approach

The authors used survey research to collect data from members of four Taiwanese multilevel companies. They explored the mediating roles of the drivers of customer equity in the “relationship marketing activities‐customer capita” effect. A total of 306 valid responses were analyzed using structural equation modeling analysis.

Findings

Four types of relationship marketing activities – core service performances, recognition for contributions, dissemination of organization knowledge, and member interdependence enhancement – have significant influences on relationship equity. Relationship equity in turn affects customer capital. Value equity and brand equity respectively have significant effects on customer acquisition and customer retention. Customer acquisition has a significant “feedback” effect on value equity, and relationship equity affects brand equity positively.

Research limitations/implications

The generalizability of this research is constrained due to a non‐probability sample of firms being used to verify the theoretic framework. It is also constrained due to the fact that only customer‐side data were collected and proxy measures of customer capital were used.

Practical implications

Effective and ineffective types of relationship marketing activities have been identified. The causal paths between relationship marketing and customer capital have been illustrated.

Originality/value

This paper sheds light on the approach to building customer capital for membership‐emphasized organization.

Details

Journal of Intellectual Capital, vol. 6 no. 2
Type: Research Article
ISSN: 1469-1930

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Article

Youmna Mohamed Abdelghany Youssef, Wesley J. Johnston, Talaat Asaad AbdelHamid, Mona Ibrahim Dakrory and Mohamed Galal Soliman Seddick

The purpose of this study is to investigate conceptually the relationship between the customer’s engagement and equity and to determine whether customer engagement could…

Abstract

Purpose

The purpose of this study is to investigate conceptually the relationship between the customer’s engagement and equity and to determine whether customer engagement could be positively enhanced by business-to-business (B2B) firms to maximize their customer equity, through examining the role of cognitive, emotional and behavioral engagement.

Design/methodology/approach

This paper is built on the evolving marketing literature and proposes a comprehensive framework that uses a multidimensional conceptualization for the customer’s engagement and equity constructs; examines the relationships between customer satisfaction, commitment, trust and involvement and customer engagement; and specifies the specific customer engagement dimensions – cognitive, emotional and behavioral – as key mediators of the engagement–equity relationship.

Findings

This paper indicated that customer engagement is a multidimensional construct with three dimensions: cognitive, emotional or behavior engagement. Customer’s satisfaction, commitment, trust and involvement would be regarded as antecedents to customer engagement, whereas customer equity would be regarded a consequence for customer engagement. In addition, this paper identified three drivers of customer equity – value, brand and relationship equities – based on reviewing the previous studies.

Originality/value

This paper integrates philosophies from previous marketing studies of customer relationship management and customer engagement and equity into a B2B environment in a more customer-centric approach.

Details

Journal of Business & Industrial Marketing, vol. 33 no. 1
Type: Research Article
ISSN: 0885-8624

Keywords

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Book part

Hao Zhang, Eunju Ko and Charles R. Taylor

This study focuses on the relationship between innovation and customer equity drivers and the moderating effect of advertising appeals on this relationship. First, the…

Abstract

This study focuses on the relationship between innovation and customer equity drivers and the moderating effect of advertising appeals on this relationship. First, the authors divided innovation into incremental innovation and radical innovation, and explained the influences of each type of innovation on drivers of customer equity based on literature review. Second, the authors tested the conceptual model using structural equation modeling find out the effects of innovation. Third, the authors also tested the effect of advertising appeal using moderating regression. The results indicate that both incremental innovation and radical innovation can positively influence value equity, relationship equity, and brand equity. Functional advertising appeal is more useful than emotional advertising appeal for radical innovation. On the contrary, emotional advertising appeal is more useful than functional advertising appeal for incremental innovation.

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Book part

Arthur Cheng-Hsui Chen, Shaw K. Chen and Chien-Lin Ma

The objective of this research is to explore the relationship between brand experience and customer equity (value equity, brand equity, and relationship equity). We…

Abstract

The objective of this research is to explore the relationship between brand experience and customer equity (value equity, brand equity, and relationship equity). We examine the impacts of different contact points’ experiences (media contact, physical environment contact, people contact, and product usage contact) and different dimensions of brand experience on customer equity. Further we investigate the possible moderating effects of different brand positioning and strategies – hedonic and utilitarian, on this relationship. The data which are collected via online survey includes 410 observations with brand experience and 83 without brand experience, 493 valid samples in total. We found that positive and strong brand experience is the key factor for building strong customer equity. Although the impacts of all four contact points’ brand experiences are significant, product usage contact has the most powerful influence on customer equity and its individual drivers. The results also indicate that the different brand positioning strategies do have moderating effects. For utilitarian brand, only brand experience at product usage contact point has significant impact on customer equity and its three drivers. For hedonic brand, all four contact points’ experiences have significant relationships with customer equity. Finally, the four experience dimensions (sensory, affective, intellectual, and behavioral) have different impacts on customer equity and its three drivers at different experience contact points.

Details

Advances in Business and Management Forecasting
Type: Book
ISBN: 978-1-78635-534-8

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Article

Heetae Cho and Weisheng Chiu

The purpose of this study was to examine the relationships among nostalgia, customer equity and behavioral intentions. Specifically, consumers' intentions of purchase and…

Abstract

Purpose

The purpose of this study was to examine the relationships among nostalgia, customer equity and behavioral intentions. Specifically, consumers' intentions of purchase and word of mouth were assessed in this study.

Design/methodology/approach

A total of 272 responses were collected from football fans in Singapore. This study conducted partial least squares structural equation modeling (PLS-SEM) to test hypotheses using SmartPLS 3.0.

Findings

Results showed that the paths from nostalgia to value equity, brand equity and relationship equity were significant, whereas the direct influence of nostalgia on revisit intention and word-of-mouth intention was not found. In addition, value equity, brand equity and relationship equity positively affected intentions of revisitation and word of mouth.

Originality/value

The findings contribute to expanding the literature by introducing nostalgia and providing theoretical and practical implications, which enable marketers and managers to predict consumers' behavior and optimize their customer equity.

Details

Marketing Intelligence & Planning, vol. 39 no. 2
Type: Research Article
ISSN: 0263-4503

Keywords

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Article

Meena Rambocas, Vishnu M. Kirpalani and Errol Simms

The purpose of this paper is to examine the relationship between brand equity and customer behavioral intentions to repeat purchases, willingness to pay a price premium…

Abstract

Purpose

The purpose of this paper is to examine the relationship between brand equity and customer behavioral intentions to repeat purchases, willingness to pay a price premium, switch and provide positive word of mouth. It further explores the mediating role of customer satisfaction and the moderating impact of customer age, education and gender on these relationships.

Design/methodology/approach

Data were collected from 283 banking customers and analyzed with structural equation modeling.

Findings

The results supported a strong relationship between brand equity and all four measures of behavioral intent with customer satisfaction partially mediating these relationships. In addition, the results supported the moderating effect of customer age and education on the customer satisfaction-switch relationship.

Practical implications

The study provides a useful perspective on the impact of brand building investments on consumers’ behavioral intentions, which bank managers can use to monitor and evaluate the outcome of branding initiatives and relationship management strategies.

Originality/value

The study provides a nuanced understanding of the effect of brand equity on consumer behavioral intentions. It also explains the mediating and moderating effects of customer satisfaction and demographical characteristics.

Details

International Journal of Bank Marketing, vol. 36 no. 1
Type: Research Article
ISSN: 0265-2323

Keywords

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Book part

Sefa Hayibor

Stakeholders often engage in actions aimed at either benefitting or punishing firms for their behaviour. Such behaviours can have very serious implications for various…

Abstract

Stakeholders often engage in actions aimed at either benefitting or punishing firms for their behaviour. Such behaviours can have very serious implications for various types of firm performance, including financial performance. Though one might expect that the investigation of possible precursors of such “stakeholder action” would be a priority of researchers in stakeholder theory, to date research within the stakeholder literature directed towards understanding stakeholder behaviour has been somewhat scarce. In this chapter, I present common themes and assumptions that prevail in the existing research on stakeholder action, identify certain important questions concerning such assumptions and suggest avenues for future research on stakeholder behaviour.

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