Retail Loyalty Programs in Malaysia: The Relationship of Equity, Value, Satisfaction, Trust, and Loyalty Among Cardholders / Mažmeninės Prekybos Lojalumo Programos Malaizijoje: Nuosavas Kapitalas, Vertė, Pasitenkinimas, Pasitikėjimas Ir Lojalumas

Abstract

This study examines loyalty programs in Malaysia in terms of perceived equity, value, program satisfaction, program trust, and store loyalty. A total of 400 questionnaires were collected from cardholders in Klang Valley, Malaysia. The hypotheses were based on social exchange and equity theories. The structural equation model that assessed the relationship between the proposed variables was tested using AMOS 6.0. The findings revealed that perceived equity and perceived value of the loyalty program significantly influence program satisfaction and trust. Program trust was the most important predictor of store loyalty. Limitations of the study and recommendations for future research are discussed. Santrauka Autoriai analizuoja Malaizijoje paplitusias mažmeninės prekybos programas, t. y. jų vertę, patrauklumą, pasitikėjimą programa ir lojalumą. Tyrime dalyvavo 400 respondentų. Hipotezės buvo pagrįstos socialinių mainų ir lygybės teorijomis. Sudarytas struktūrinis modelis vertina siūlomų rodiklių ir jų variacijų santykinę priklausomybę naudojant AMOS 6.0. Gauti rezultatai parodė, kad tiek nuosavo kapitalo, tiek siūlomos programos lojalumas turi įtakos programos pasitenkinimo ir pasitikėjimo lygiui. Pasitikėjimas programa buvo vienas svarbiausių veiksnių vertinant vartotojų lojalumą.

Risk and perceived value: antecedents of customer satisfaction and loyalty in a sustainable business model

“…This component is included in different studies in order to research the influence of the value on consumers' satisfaction (Arslanagic-Kalajdzic and Zabkar, 2017;Candi and Kahn, 2016;Pura, 2005;Sweeney and Soutar, 2001;Williams and Soutar, 2009;), buying intention (Pura, 2005;Williams and Soutar, 2009), commitment (Pura, 2005) and loyalty for a specific brand )all these studies confirm the existence of a strong influence for this type of value. Customers' satisfaction is considered to be the result of perceived customer value (Omar et al, 2011;Demirg€ uneş, 2015).…”

“…Against these arguments, there is a significant and distinctive literature that treats satisfaction and value as two separate concepts, but accepts the existence of a connection between them (Oliver, 1996;Woodruff, 1997;de Ruyter et al, 1997;Huber et al, 2007, Korda and Snoj, 2010, Demirg€ uneş, 2015. Moreover, there are authors that consider satisfaction as a preamble for value (Oliver 1996;Woodall 2003, Omar et al, 2011, and meantime there are authors that treat satisfaction as a consequence of value (Woodruff, 1997;de Ruyter et al, 1997;Huber et al, 2007;Demirg€ uneş, 2015), and also authors that suggest that both satisfaction and value are bidirectionally connected to a wider network of consumption experiences (Oliver, 1996). Perceived value is seen in the literature as a predictor for customers' repurchase intentions (Morar, 2013).…”

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“…Even though loyalty programs shift from an aggregate level to an individual level (Kumar et al, 2013), they are still very limited in terms of program components. Instead of diversifying reward program features to appeal to new potential members, many firms are adopting loyalty programs aimed at retaining their existing member base (Omar et al, 2011). Customers appreciate being involved in attractive and flexible loyalty programs.…”

Customer Perception and Attitude of Loyalty Programs in Croatia

“…As a loyalty program is most often conceptualized as to give the possibility of collecting points upon every purchase, it is supposed that customers -members of the program, with the aim to collect those points -will frequently buy at the retailer where they have membership. The change in a customer's behavior, or more precisely, more frequent purchases at the specific retailer, is influenced by the quality of service, a customer's trust in the retailer and his attitude towards the loyalty programs 28 . "The quality of the service in a loyalty program relates to the entire experience a customer undergoes during the enrolment, membership renewal, collecting points, reimbursement and the use of the program" 29 .…”