- Log In/Sign Up
- P-ISSN1738-3110
- E-ISSN2093-7717
- SCOPUS, ESCI
ISSN : 1738-3110
A Study on the Effect of Social Value of Traditional Market on Satisfaction, Loyalty and Local Attachment
Jeong, Seok-Oh
Jung, Yeon-Sung
Abstract
Purpose - The year 2016 marks 20 years since the opening of Korean distribution market in 1996. After this opening, the domestic market expanded and modernized, and has grown to become an advanced distribution market with a greater range of consumer choices. On the other hand, traditional markets have waned and their management has become worse. However, traditional markets do not have economic value alone. This study examines the effects of social value in traditional market such as the value of Cultural Tourism and the value of Sharing Community with Traditional Market on Satisfaction, Loyalty and Place Attachment of the residents. Research design, data and methodology - A questionnaire was organized for this study after a hypothesis was set based on theoretical background. Verification of the hypothesis was undertaken by statistically analyzing questionnaire responses. Personal interviews were performed for this study, and a total of 300 responses were collected, of which 228 responses (76%) were from women. The survey coverage was divided into 10 regions ranging from metropolitan areas to the provincial level, and the age groups were divided into 30s to 60s to ensure diversity of the area and age. Results - To summarize the study results, through verification of the hypothesis in terms of meaningful influence, it appears the values of Cultural Tourism to Satisfaction and Loyalty are supported. On the other hand, the value of Sharing Community is only supported for Satisfaction. It appears that Satisfaction to Loyalty and Loyalty to Place Attachment are meaningful effects. The mediator effect was also reconciled through satisfaction and loyalty. Loyalty was analyzed in terms of mediating the effect of satisfaction on place attachment. Conclusions - It is noted in this study that government support is required to preserve traditional markets and renewal program. Community requires multilateral communication and the formation of effective relationships. In contrast to the economic value emphasized by large retailers, the empirical analysis of the non-economic effects of traditional markets has presented the significance of socio-cultural values in traditional markets. In the future, socio-cultural values and economic values should be integrated into more empirical studies through mutual comparison. Investigating the increase and decrease of social value in traditional markets will help the future formulation in government policy.
- keywords
- Traditional Market, Social Value, Cultural Tourism Value, Sharing Community Value, Local Attachment
Reference
Anderson, Eugene W., & Fornell, Claes (1994). A Customer Satisfaction Research Prospectus. In R. T. Rust, & R. L. Oliver (eds.). Service Quality: New Directions in Theory and Practice. Thousand Oaks, CA: Sage Publications.
Anderson, E. W., Fornell, Claes, & Lehmann, Donald (1994). Customer Satisfaction, Market Share, and Profitability. Journal of Marketing, 58(3), 53-66.
Anderson, Eugene W., & Sullivan, Mary W. (1993). The Antecedents and Consequences of Customer Satisfaction for Firms. Marketing Science, 12(Spring), 125-143.
Andreassen, T. W., & Lervik, L. (1999). Perceived Relative Attractiveness Today and Tomorrow as Predictors of Future Repurchase Intention. Journal of Service Research, 2(2), 164-179.
Andres-Martinez, M. E., Gomez-Borja, M. A., & Mondejar-Jimenez, J. A. (2014). A Model to Evaluate of Price Fairness Perception in Online Hotel Booking. Electronic Commerce Research, 14(2), 171-187.
Baker, J., Parasuraman, A., Grewal, D., & Voss, G. (2002). The Influence of Multiple Store Environment Cues on Perceived Merchandise Value and Patronage Intentions. Journal of Marketing, 66(2), 120-141.
Bitner, Mary Jo, & Hubbert, Amy R. (1994). Encounter Satisfaction Versus Overall Satisfaction Versus Quality: The Customer's Voice. In R. T. Rust, & R. L. Oliver (eds.). Service Quality: New Directions in Theory and Practice, Thousand Oaks, CA: Sage Publications.
Bitner, M. J., Booms, B. H., & Tetreault, M. S. (1990). The Service Encounter: Diagnosing Favorable and Unfavorable Incidents. Journal of Marketing, 54(1), 71-84.
Blodgett, Jeffrey G., Hill, Donna J., & Tax, Stephen S. (1997). The Effect of Distributive, Procedural, and Interactional Justice on Post-complaint Behavior. Journal of Retailing, 73(2), 185-210.
Bolton, Lisa E., Warlop, Luk, & Alba, Joseph W. (2003). Consumer Perceptions of Price (Un)Fairness. Journal of Consumer Research, 29(4), 474-491.
Campbell, M. C. (2007). Says Who?! How the Source of Price Information and Affect Influence Perceived Price (Un)fairness. Journal of Marketing Research, 44(2), 261-271.
Campbell, M. C. (1999). Perceptions of Price Unfairness:Antecedents and Consequences. Journal of Marketing Research, 36(5), 187-199.
Chang, Hsiu-Hui, & Fang, Wenchang (2012). The Effects of Shopping Value on Retail Outcomes: A Comparison Between Department Stores and Hypermarkets. The Service Industries Journal, 32(14), 2249-2263.
Estelami, Hooman, Grewal, Dhruv, & Roggeveen, Anne L. (2007). The Effect of Policy Restrictions on Consumer Reactions to Price-Matching Guarantees. Journal of the Academy of Marketing Science, 35(2), 208-219.
Fassnacht, M., & Mahadevan, J. (2012). Differential Pricing Between New Customers and Loyal Customers. Die Betriebswirtschaft, 72(2), 179-194.
Ferguson, J., Ellen, P., & Bearden, W. (2014). Procedural and Distributive Fairness: Determinants of Overall Price Fairness. Journal of Business Ethics, 121(2), 217-231.
Habel, J., Schons, L. M., Alavi, S., & Wieseke, J. (2016). Warm Glow or Extra Charge? The Ambivalent Effect of Corporate Social Responsibility Activities on Customers’ Perceived Price Fairness. Journal of Marketing, 80(1), 84-105.
Hamilton, Ryan, & Chernev, Alexander (2010). The Impact of Product Line Extensions and Consumer Goals on the Formation of Price Image. Journal of Marketing Research, 47(2), 51-62.
Hamilton, Ryan, & Chernev, Alexander (2013). Low Prices Are Just the Beginning: Price Image in Retail Management. Journal of Marketing, 77(11), 1-20.
Hellier, Phil K., Geursen, Gus M., Carr, Rodney A., & Rickard, John A. (2003). Customer Repurchase Intention: A General Structural Equation Model. European Journal of Marketing, 37(11/12), 1762-1800.
Heussler, T., Huber, F., Meyer, F., Vollhardt, K., & Ahlert, Dieter (2009). Moderating Effects of Emotion on the Perceived Fairness of Price Increases. Advances in Consumer Research, 36, 332-338.
Howard, John A. (1974). The Structure of Buyer Behavior. In John A. Howard, & L. Winston Ring, John U. Farley (eds.). Consumer Behavior: Theory and Application, Boston: Allyn & Bacon.
Hu, H. (2011). Chinese Consumers’ Store Image Formation and Its Impact on Patronage Behavior. Academy of Marketing Studies Journal, 15(2), 83-102.
Hwang, H. J., & Shin, S. H. (2012). Impact of a Brand Image Matching with the Advertising Model on Price Fairness Perceptions: Focus on Sports Advertising. Journal of Distribution Science, 10(3), 43-50.
Janiszewski, Chris, & Lichtenstein, Donald R. (1999). A Range Theory Account of Price Perception. Journal of Consumer Research, 25(4), 353-368.
Kahneman, Daniel, Knetsch, Jack L., & Thaler, Richard (1986). Fairness as a Constraint on Profit Seeking:Entitlements in the Market. American Economic Review, 76(4), 728-741.
Kim, H. K., & Cho, H. J. (2013). The Effects of Consumption Value of Smartphone Users on Relational Factors and Repurchase Intention. Journal of Distribution Science, 11(4), 73-80.
Kim, Y. (2004). Who Will Be Winners and Losers? Competitive Analyses Between Regional Malls and Big-box Retailers. Journal of Shopping Center Research, 11(1), 9-31.
Kim, Y. H., & Bae, M. E. (2005). The Effect of Perceived Justice on Customer Satisfaction and Repurchase Intention in the Discount Stores Service Recovery. Journal of Distribution Science, 3(1), 23-42.
Kotler, Philip., & Armstrong, Gary. (2006). Principles of Marketing (11th ed.). Boston: Pearson Prentice Hall.
Kukar-Kinney, Monica, & Grewel, Dhruv (2007). Comparison of Consumer Reactions to Price-Matching Guarantees in Internet and Brick-and-Mortar Retail Environments. Journal of the Academy of Marketing Science, 35(2), 197-207.
Liao, C., Palvia, P., & Chen, J. L. (2009). Information Technology Adoption Behavior Life Cycle: Toward a Technology Continuance Theory(TCT). International Journal of Information Management, 29(4), 309-320.
Lim, C. M., Kim, Y. K., & Park, S. H. (2007). Consumer Perceptions Toward Retail Attributes of Value Retailers: Functions of Gender and Repatronage Intention. Journal of Customer Behavior, 6(3), 269-282.
Lyer, Pramod, Davari, Arezoo, & Paswan, Audhesh (2016). Green Products: Altruism, Economics, Price Fairness and Purchase Intention. Social Business, 6(1), 39-64.
Oliver, R. L. (1980). A Cognitive Model of the Antecedents and Consequences of Satisfaction Decisions. Journal of Marketing Research, 17(11), 460-469.
Oliver, R. L. (1997). Satisfaction: A Behavioral Perspective on the Consumer. New York: McGraw-Hill.
Oliver, R. L., & DeSarbo, Wayne S. (1988). Response Determinants in Satisfaction Judgements. Journal of Consumer Research, 14(3), 495-507.
Oliver, R. L., & Swan, John E. (1989). Consumer Perceptions of Interpersonal Equity and Satisfaction in Transactions: A Field Survey Approach. Journal of Marketing, 53(April), 21-35.
Osman, M. Z. (1993). A Conceptual Model of Retail Image Influence on Loyalty Patronage Behavior. International Review of Retail, Distribution and Consumer Research, 3(2), 133-148.
Padhye, Grishma, & Sangvikar, B. V. (2016). Understanding the Repatronage Intentions of Supermarket Customers: A Cluster Analysis. Journal of Marketing Management, 15(2), 46-64.
Pan, Y., & Zinkhan. G. (2006). Determinants of retail patronage: A Meta-Analytical Perspective. Journal of Retailing, 82(3), 229-243.
Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1988). SERVQUAL: A Multiple-Item Scale for Measuring Consumer Perceptions of Service Quality. Journal of Retailing, 64(1), 12-40.
Shim, S., & Kotsiopulos, A. (1992). Patronage Behavior of Clothing Shopping. Part I: Shopping Orientations, Store Attributes, Information Sources, and Personal Characteristics. Clothing and Textiles Research Journal, 10(2), 48-57.
Taylor, Steven A., & Baker, Thomas L. (1994). An Assessment of the Relationship Between Service Quality and Customer Satisfaction in the Formation of Consumers' Purchase Intentions. Journal of Retailing, 70(2), 163-178.
Tian-Cole, S. T., Crompton, J. K., & Willson, V. L. (2002). An Empirical Investigation of the Relationship between Service Quality, Satisfaction and Behavioral Intentions among Visitors to a Wildlife Refuge. Journal of Leisure Research, 34, 1-24.
Heussler, T., Huber, F., Meyer, F., Vollhardt, K., & Ahlert, Dieter (2009). Moderating Effects of Emotion on the Perceived Fairness of Price Increases. Advances in Consumer Research, 36, 332-338.
Voss, Glenn B., Parasuraman, A., & Grewal, Dhruv (1998). The Roles of Price, Performance, and Expectations in Determining Satisfaction in Service Exchanges. Journal of Marketing, 62(4), 46-61.
Xia, L., Monroe, K. B., & Cox, J. L. (2004). The Price Is Unfair! A Conceptual Framework of Price Fairness Perceptions. Journal of Marketing, 68(10), 1-15.
Yang, H. W., & Chang, K. F. (2011). A Comparison of Service Experience on Repatronage Intention Between Department Stores and Hypermarkets in Taiwan. African Journal of Business Management, 5(19), 7818-7827.
Zeithaml, V. A., Berry, L. L., & Parasuraman, A. (1996). The Behavioral Consequences of Service Quality. Journal of Marketing, 60(4), 31-46.
Zielke, Stephan (2006). Measurement of Retailers' Price Images with a Multiple-Item Scale. International Review of Retail, Distribution and Consumer Research, 16(3), 297-316.
- Downloaded
- Viewed
- 0KCI Citations
- 0WOS Citations