Indifference curves show a combination of two goods that provide equal satisfaction to a consumer. They have the following characteristics: They are downward sloping to the right. This clearly indicates that they have a negative slope. This means that when more units of one good in the combination are consumed, less units of the other will be consumed. This occurs only if the level of satisfaction is to remain the same on an indifference curve.
Ever since Aaker (1997) and Fournier (1998) brought brand personality and customer brand relationship into perspective, this has been the focus of researchers. Malhotra (2005) found that though consumer decision-making research was generally cognitive (the use of brand attributes or tangibles).However, in the Recent past the researchers have accepted that the affective and emotional Aspects (Burk and Edell, 1989; Holbrook and Westwood, 1989) are also important. Ailawadi and Keller (2004) found that brand management is emerging as focus area for CXOs. Focus, hence, has shifted towards the symbolic meaning consumers attribute to brands (Austin et al., 2003) with some customers perceiving branded products as if these objects had human characteristics. Marketing scholars and practitioners have been studying it to improve Customer Loyalty.
Extended experiences and their utilitarian/hedonistic multi dimensional value proposition give wide perspective to the concept of customer values. Other value concepts in literature explain value proposition in some certain stages of the customer experiences. Value-in-exchange is perceived value of customer in transaction for a product (Zeithaml, 1988) and it occurs only in purchase experience stage. Value-in-possession is perceived customer value of having a product by private or by a member of a society (Richins, 1994) and it occurs in consumption experience stage. Last of all, Value-in-use is customer’s perceived value during the usage or consumption of a product (Woodruff, 1997) and it occurs in two stages such as purchase and consumption experience.
THEORY AND MODEL Philip Kotler (1995) has developed model of consumer decision making process which is widely used to understanding customers purchasing decision. Kotler (1995) stated that a purchasing decision is determined by the customer’s personal characteristic and evaluation process, along with the external stimulation environment. The detail of theories will be state in the sequel: By theory of Kotler (1995), external stimulation can be divided in two groups. 1. Marketing stimulation which is linked to marketing mix (Price, Place, Product, and Promotion).
Service Quality is an assessment of how well a delivered service conforms to the client 's expectations. Service business operators often assess the service quality provided to their customers in order to improve their service, to quickly identify problems, and to better assess client satisfaction. In order to understand how users perceived and assessed the quality of services, a study was developed in 1985 involving twelve focus groups, three in each of the four different services investigated - retail banking, credit cards, securities brokerage, and repairs and maintenance. Based on common perceptions among the groups, the authors formally defined service quality as the degree and type of discrepancy between the perceptions and expectations
CHAP II: THEORICAL FRAMEWORK 2.1. Service and service quality concept Service concept In a research carried out by Johns (1998, p.954) shows that the concept “service” has many meanings; in management literature, it is defined as an industry, an output or offering or a performance. Service also can be described as ‘intagible’ and the output is viewed as an activity; because some service outputs have substantial tangible components such as equipment, personnel and facilities. Another study of Johns (1998, p.968-970) points out that service is viewed defferently by the consumer and the provider. For the consumers, they view service as a phenomenon meaning which is part of an experience of life, consists of core need, emotional content and choice.
As technology acceptance model (TAM) is mainly of two system features of perceived usefulness (PU) and perceived ease of use (PEUO) (Davis,1989) it is incomplete in the context of online banking services. Perceived usefulness is defined as the degree to which a person believes that using a particular system will enhance users performance, while the perceived ease of use is defined as the extent to which a person believes that using a particular system is free of effort. The TAM has been evaluated to be not only a powerful and parsimonious model for representing the determinants of system usage but also a valuable tool for system planning, since the system designers have some degree of control over easiness and usefulness (Taylor & Todd,1995). A significant
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LITERATURE REVIEW Customers Satisfaction and Repurchase Intentions Intentions are subjective opinions regarding on the behavior of an individual in the future and normally serves as dependent variables in most of the consumer service studies and customer satisfaction philosophies (Kew and Yap, 2007; Boulding, Kalra, Staeling and Zeithaml, 1993; Soderlund and Ohman, 2003). Hellier, Geursen, Carr and Rickard (2003) defined repurchase intention as a person’s decision on repurchasing a chosen service from the same service provider, in view of that individual’s current conditions and probable circumstances. On the other hand, customer satisfaction is as a general evaluation of the service provider’s performance based on all of their preceding experiences with a company (Wu, 2013; Anderson, Fornell, and Lehmann, 1994). From the various studies in food service industry conducted in the past, consumers repurchase intention is often utilized as a measure of customer’s satisfaction. In addition, customer satisfaction is repeatedly used as a predictor of whether customers will revisit a restaurant (Soriano, 2002).
When consumers assess product or service quality, it is performed according to internal standards, actually the expected quality of service. Therefore, the expectations are internal standards upon which the consumer ranks the quality of delivered service (Ljubojevis, 2004). 2.4.1 Service quality Service quality is defined as a comparative function between consumer expectations and actual service performance (Parasuraman et al. 1985). It is further explained that service quality is an ability of an organization to meet or exceed customer expectations.