Customer perceived value and relationship marketing images

customer perceived value and relationship marketing images

customer loyalty with moderating role of brand image. of Public relation and Customer Perceived Value, in order to enhance the increase company income, enhance market share, and achieve corporate objectives. direct influences of perceived value and customer satisfaction on customer engagement component of relationship marketing's extended. Customer value; Public relations perception; Brand image; Customer loyalty A company could describe relationship marketing to identify a company's named.

Relationship between public relation perceptions and customer loyalty are two key drivers for strong customer relationship management. Brand image is also important in few studies brand image has moderating effect on public relation perception and customer loyalty. According to previous studies it has been proved that the impact of public relations perception PRP on customer loyalty is stronger and more significant when the brand image is favorable.

If it is unfavorable, the effect of PRP on customer loyalty is negligible [ 1 ]. Although past researches have not produced consistent findings on the dimensions of establishing relationship quality [ 5 ], empirical results indicate that the relationship between corporations and customers is increasingly intimate, and this would benefit the enhancement of customer loyalty in the long run [ 6 ]. Companies having good reputation easily build trust and commitment among their customers and this commitment play the role of mediator between identification of customers and their behavioral intentions [ 9 ].

Some researchers prove that the favorable corporate reputation and image has positive and direct influence on its customers in return increasing their loyalty towards firm. Such image and good reputation of the company yield financial benefits for the company [ 10 ].

According to Nguyen and Leblanc [ 12 ] customer loyalty increase if perception of customer about corporate image and corporate reputation is good and favorable; and customer loyalty is also affected by the extrinsic factors like contact personnel and the physical environment where services are being delivered.

Customer satisfactionin turn, is hypothesized to be influenced by perceived value. Perceived value, as it has been defined herein, is the ratio of benefits received from providers relative to the costs sacrificed by customers.

In essence, it is a variable that reflects the net utility derived from a provider. Customer satisfaction, meanwhile, is defined as an overall positive or negative feeling about the net value of services received from a supplier [ 14 ].

This study attempts to contribute to the knowledge how Services provider companies especially Insurance companies in Pakistan list mentioned in appendices can retain their customers by making them loyal through CV, PRP, and BI. Literature Review Public relations can be examined from a variety of frameworks, including systems, critical, and rhetorical perspectives [ 4 ].

Relationship marketing is the use of a wide range of marketing, sales, communication, service and customer care approaches. A company could describe relationship marketing to identify a company's named individual customers, create a relationship between the company and its customers that stretches over many transactions, and manage that relationship to the benefit of the Customers and the company [ 17 ].

Grunig [ 18 ] Often cited as the first attempt to survey theory in public relations, groundbreaking conference paper analyzed articles published in Public Relations Review during the 9 years from its inception in [ 19 ]. Ferguson identified three categories of research not of theory: The research model underlying our study. The first book-length effort at synthesizing research and theory lessons out of the public relations literature base is What Research Tells Us.

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Botan and Taylor [ 19 ] the first systematic approach to public relations theory, as distinct from discussions of what had been researched to date, appears to have been an edited book, Public Relations Theory [ 20 ] Consistent with the social science perspective [ 19 ].

Unlike all of the other bibliographic works discussed here, they included work in one major nonpublic relations journal, Journalism and Mass Communication Quarterly [ 19 ]. Vasquez and Taylor reported seven areas of public relations research. Consumers perceive the people behind the brand as caring and genuine. Public Relations Perception has a Direct Impact on Customer Loyalty Customer loyalty Customer Loyalty aim is retaining and making the customers loyal towards a brand or a product [ 22 ].

Several aspects of customer loyalty have been of interest in marketing research. Businesses have admitted that customer loyalty plays an important role in adding value to their business. Furthermore, building loyalty among old customers costs much less than making new ones.

Most importantly, customer loyalty has a direct influence on the word of mouth advertisement for the business [ 23 ]. Customer loyalty helps enlarge premium price sales, market share [ 24 ] and profitability for the business. Customer loyalty is regarded as necessary for successful competition in all types of businesses: Most of local traditional retail shops which used to provide all types of consumer products are now confronting a tough and threatening competition by the modern trade malls and hyper marts which are growing rapidly and penetrating in even small neighborhoods.

In a purchase situation, loyalty intentions reflect favorable attitudes toward the brand or firm [ 2 ]. The drivers of loyalty are complex and dynamic, and they change and evolve over time [ 25 ]. In general, loyalty development has been an objective traditionally aimed at by managers [ 26 ].

As a consequence, loyalty has been considered to be a key factor in order to achieve company success and sustainability over time [ 28 ]. More specifically, loyalty may be considered as a non-random behavior, expressed over time, which depends on psychological processes and closeness to brand commitment [ 29 ], and it has been analyzed from two different perspectives: This fact implies that the concept of loyalty includes a psychological link, based on customer feelings that motivate a general attachment to the people, products or services of an organization [ 29 ] and a behavioral component, based on aspects such as the frequency of visits to a store or the percentage of expense [ 30 ].

In this work, we focus on attitudinal loyalty since: A brand thus signals to the customer the source of the product, and protects both the customer and the producer from competitors who would attempt to provide products that appear to be identical [ 32 ].

Brands provide the basis upon which consumers can identify and bond with a product or service or a group of products or services.

A successful brand is an identifiable product, service, person or place, augmented in such a way that the buyer or user perceives relevant, unique added values which match their needs most closely [ 34 ]. Brand identity is a unique set of brand associations implying a promise to customers and includes a core and extended identity. Core identity is the central, timeless essence of the brand that remains constant as the brand moves to new markets and new products. Core identity broadly focuses on product attributes, service, user profile, store ambience and product performance.

Shamma and Hassan [ 13 ] highlight the importance of customer perceived value with relation to customer loyalty. Woodruff [ 14 ] has defined the customer perceived value where the ratio of benefits would be equal the cost that customer is paying in return of that product.

customer perceived value and relationship marketing images

Literature Review Customer Loyalty Customer Loyalty is retaining and making the customers loyal towards a brand or a product [ 16 ]. Brown [ 17 ] narrate loyalty as customer experiences. Chaudhuri [ 18 ] defines that loyalty directly impact on companies sales.

Dick [ 2 ] loyalty is important for successful business, it represent favorable attitude. Johnson [ 19 ] explains different business have different types of requirement to make their customer loyal. Andreassen [ 20 ] defines loyalty where future purchase would be higher. Edvardsson, Johnson, Gustafsson, and Strandvik [ 21 ] explain that the value you are giving to your customer.

Hallowell [ 22 ] explain that customer perceived value impact on customer loyalty and gain customer trust. Hallowell [ 22 ] described the attitudinal and behavioral loyalty. Nilsson and Olsen [ 24 ] defines behavioral and attitudinal loyalty. Eshghi, Haughton, and Topi [ 25 ] research suggested that attitudinal loyalty is best fit for financial sector.

Customer Perceived Value Sweeney and Soutar [ 26 ] explain that value matter where you have your potential customer and it must be equal to what customer is paying and in return what they are getting. Sheth, Newman, and Gross [ 27 ] defines the dimension of customer perceived value like functional value, conditional value, emotional value, social value and lastly epistemic values.

Woodruff [ 14 ] explains the functional value where intention of purchase while emotional value to create curiosity towards particular brand however in this study we will focus on overall perceived. R N Bolton [ 29 ] customer perceived value is a process of evaluation that what customer is paying and what he is getting in return. Oliver [28] more explicitly the concept of outcome to input must be appropriate.

Thus the following hypothesis generated Hypothesis: There is no significant relationship between customer Perceived value and customer loyalty H1: There is significant relationship between customer Perceived value and customer loyalty. L'Etang [ 30 ] insist that you have to see entirely that how customer feels comfort at one place.

Stone, Woodcock, and Wilson [ 31 ] narrate that it is a situation where both parties get benefits as a company you can get feedback about your product and can improve the quality or as a whole of your product otherness is your customer get satisfied he feel comfort and start to trust on you and on your product, research also suggested that it is essential that companies should entertain their customers as an individual it will give more strength between the relationship of mangers and their customers, in the mean while relationship marketing can be proved a good marketing tool to enhance the sale and other promotional activities.

Grunig [ 32 ] highlight the importance of the public relation and proved that it is as essential as other marketing elements.

customer perceived value and relationship marketing images

Strobel and Ferguson [ 33 ] also emphasizes on public relation and suggested that it is important to build confidence in customers. Botan and Taylor [ 34 ] explain the dimensions of public relation, three key elements prior social responsibility like how much you are responsible socially second of all ethical responsibility and lastly management issues.

Pavlik [ 35 ] study focus on different researcher work and conclude that public relation is an important element. Botan and Taylor [ 34 ] research suggest that social responsibility has core importance in public relation. Vasquez and Taylor [ 36 ] research emphasize on social responsibility of the companies. Vasquez and Taylor [ 36 ] narrate that social responsibility and professional practice is also important.

Sen and Bhattacharya [ 37 ] precisely narrate the concept of self-congruence that how consumer look the things what is the level like is the brand is worthy and the management who is running this brand is enough responsible, hence if your customer is satisfied about perception definitely it will enhance the degree of acceptance of you product in online financial system.

By following above literature we can imply that Hypothesis: Brand Image Aaker [ 38 ] explains that brand differentiate the product with other products. Kapferer defines that brand image comes when customer have overall experience about the brand.

De Chernatony [ 39 ] narrate that companies must observe the needs of the customer deeply and it must be relevant what customer actually want and does your product fulfill the need of the customers.

Aaker [ 38 ] research emphasize on product unique qualities Aaker [ 38 ] suggest narrate that companies should focus on product services and product delivery. Ward [ 40 ] research focus is on differentiation of the product by making promise with customer to make product reliable, durable, and quality effective. Mukherjee and Nath [ 42 ] explain the relationship marketing improves the interaction between seller and buyer. In financial sector relationship marketing is to establish a strong and long-term bonds with customers [ 43 ].

customer perceived value and relationship marketing images