Customer Satisfaction Theory
2.1 Perceived Value:
In general, perceived value can be defined as the opinions or the views in the mindset of the customers towards products. Interestingly that those opinions seem neither related to their experiences with the products nor marketing activity (i.e. price, promotion or even market trends). According to Zeithaml (1988), who claimed that perceived values derived from customer’s judgment about the products overall superiority which may not meet their requirements in term of utility. There are a variety of theories that described about perceived values. Similarity, Holbrook (1996) expressed the concepts of perceived value in the same direction and also divided dimension of value into 3 main different categories, which are:
1. Product
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Basically, most of the theories have the same underlying message about customer satisfaction that is; customer satisfaction represent when the product or service is exceeded the customer’s expectations. For this research will focus only on 2 customer satisfaction theories: (1) Assimilation-Contrast Theory and (2) Disconfirmation Theory.
2.2.1 Assimilation-Contrast Theory
The theory introduced by Anderson (1973) in the context of post-exposure product performance based on Sherif and Hovland’s (1961) discussion of assimilation and contrast effect. This theory is a combination of both the assimilation and the contrast theories. Assimilation-contrast theory proposes that if performance of the product is considered as acceptable in customer’s mind, even the product may slightly give less from what they expected but the differences will be neglected– assimilation will operate and the performance will be deemed as acceptable. On the other hand, if performance of the product is unacceptable in their mind, they will reject the product and also the difference will be exaggerated as well. Therefore, we can see that this theory posits that customer satisfaction is
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OLS regression allows researcher to estimate the relationship between a set of independents variable and the dependent variable. The analysis was performed using IBM SPSS Statistics version 23.
4.Results
Before performing the regression analysis, a few steps need to be conducted. First, construct reliability of the concepts that are measured using multiple item scale were evaluated by using Cronbach alphas coefficient. The results, as reported in Table 1 and 2, shows that all Cronbach alphas coefficient exceed the widely suggested value of 0.7 (Fornell & Larcker, 1981). This indicates that the reliability of all constructs is satisfactory. Then, the scores of each multiple-item scale that belong to the same concept were averaged to create a summated scale that was subsequently used in the regression analysis.
Table 1: Results from Reliability test for Product-related value
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