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Journal of Asian Business and Economic Studies |
Vol. 28(3)
, September 2021, Page 191-203
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Augmenting customer loyalty through customer experience management in the banking industry |
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Forbes Makudza |
DOI: 10.1108/JABES-01-2020-0007
Abstract
Purpose
The purpose of this paper is to analyse and evaluate the effect of customer experience management (virtual interaction, physical interaction and service interaction) on customer loyalty in the banking industry.
Design/methodology/approach
The study followed an explanatory research design to sample 384 respondents. Stepwise regression analysis was used to validate the relevance of the study model.
Findings
The results indicated that there is a positive association between customer experience management and customer loyalty. The dimensions of customer experience management, namely virtual interaction, physical interaction and service interaction, were also found to be statistically significant in explaining customer loyalty behaviour.
Practical implications
The study practically influences the way banks and other financial institutions gain competitive advantage through managing the experiences of customers in a volatile business environment. At a time when banks are no longer the only providers of financial services, the study offers a road map to reduce portfolio purchasing and switching behaviour through enhanced experience management at all customer touch points.
Originality/value
The study presents an augmented model of customer experience management which is linked to consumer loyalty.
Keywords
s Customer experience management, Consumer loyalty, Virtual environment, Physical environment, Service interaction
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A comparative study of consumers' intention to purchase counterfeit outdoor products in Taiwan and Hong Kong
2021, Journal of Asian Business and Economic Studies
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Abstract
Purpose
This study aims to compare the purchase intention of counterfeit outdoor products between Taiwan and Hong Kong consumers.
Design/methodology/approach
A total of 584 respondents from Hong Kong (n = 247, 42%) and Taiwan (n = 337, 58%) were recruited for the study. Data analysis was performed by using structural equation modelling techniques.
Findings
The results showed that consumers' perceived risk had a negative influence on attitude and intention to purchase counterfeit outdoor products. Moreover, attitude towards buying counterfeit outdoor products, perceived behavioural control and subjective norm had positive impacts on purchase intention. Brand consciousness, however, had a negative influence on purchase intention. The multi-group analysis identified significant differences between Hong Kong and Taiwanese respondents.
Originality/value
This study provides a better understanding of how these factors affect purchase intention of counterfeit outdoor products across different cultures.
Motivations of guests contributing sWOM on social media: a case in Vietnam
2022, Journal of Asian Business and Economic Studies
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Abstract
Purpose
This paper examines whether guests contribute sWOM (social word of mouth) on different SNSs (social networking sites) regarding various personal motivations. SNSs have changed the way guests eat and experience their food and dishes. Marketing managers have effectively targeted SNSs as a marketing tool, yet have little research about drivers of guests' sWOM contribution on SNSs has been done. A model including the significant motives: (1) experiences, (2) opinion leadership, (3) reflection of self and (4) need for unique is tested to investigate their positive effects on contribution behavior of social media guests.
Design/methodology/approach
The data collected from 411 guests by using the snowball method was used for analysis. The structural equation modeling was applied to examine the relationships among the constructs and test the eight proposed hypotheses.
Findings
Results reveal that experiences, opinion leadership, reflection of self and need for unique were positively associated with contributing sWOM of restaurants. Furthermore, those who have positive experiences tend to be opinion leadership and reflection of self. And guests who show reflection of self, they are more likely to have opinion leaders and show need for uniqueness. Our study expands the existing frameworks of sWOM contribution by identifying various motivations and labeling sWOM. Findings provide restaurant managers with managerial implications for online marketing strategies on SNSs to attract sWOM contribution among guests.
Research limitations/implications
It has some limitations while discovering the motivations of positive sWOM contribution. First, we only focused on the motivation of contributing positive sWOM, while negative sWOM received many arguments in changing attitudes toward buying products or services. Second, we collected data in Vietnam only without comparing with different countries. Future research could explore further cross-cultural perspectives to fill the gap. Third, this study explored sWOM contribution in service environment, sWOM contribution from service context may be slightly different from those of product brands.
Practical implications
These findings highlight the motivations of sWOM contribution that restaurant managers must recognize and make use of it. SNSs have given power to consumers to post everything at anytime and anywhere they like, therefore restaurant managers need to deeply understand why their consumers contribute sWOM. In digital era, customers and guests have become the ultimate tools for promoting product or service brands. The marketing managers should create an online platform in order to facilitate their consumers to discuss their brand frequently (Charu et al., 2018). Restaurants should have policies to push positive eWOM maximally and also reduce advertising costs.
Originality/value
This is one of the first studies on sWOM contribution of what motivate guests to contribute their sWOM on SNSs. Theoretically, this study offers deep insights into the links between various motivations and sWOM in foodservice context. Managerially, understanding these motivations allow marketing managers create effective policies that motivate guests to contribute positive word of mouth.
The drivers of omni-channel shopping intention: a case study for fashion retailing sector in Danang, Vietnam
2021, Journal of Asian Business and Economic Studies
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Abstract
Purpose
The purpose of this paper is to look into the mechanism in which customers involve themselves in omni-channel retail setting and use its advantages.
Design/methodology/approach
Via an empirical analysis through surveying customers, this paper assesses and confirms the drivers of omni-channel shopping intention within the context of fashion retailing sector in Danang.
Findings
The findings highlight the significance of customer perception of research shopping (including showrooming and webrooming) behaviours, compatibility and risk to their intention towards omni-channel shopping, implying profound understanding of designing effective omni-channel retailing strategy.
Originality/value
From a theoretical perspective, comprehending customer perception of the omni-channel concept has emerged as an important theme in recent literature as well as in practitioners' reports. Hence, the meaningful contribution of this study is the involvement in the attractive steam of study. From a managerial perspective, this study could offer guidance to retailers or managers about developing a successful omni-channel strategy from a customer point of view.
Firm performance: The moderation impact of debt and dividend policies on overinvestment
2021, Journal of Asian Business and Economic Studies
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Abstract
"Purpose - Debt, dividend and investment policy constitutes a company's important financial decisions to determine firm performance. The research emphasizes on the problem of overinvestment, a phenomenon that worsens firm operation. Furthermore, it clarifies the moderation role of debt and dividend policy in mitigating the negative effect of overinvestment on firm performance in the case of Vietnamese listed companies.
Design/methodology/approach - The research uses all financial statement of non-financial Vietnamese listed companies on Ho Chi Minh and Hanoi Stock Exchange in the period of 2008–2018. The data are collected from Thomson Reuters Eikon. The final data set is comprised of 669 listed companies. The study measures overinvestment though investment demand function and HP filter. Moreover, the research employs the dynamic model, so it has to apply the SGMM method to deal with the problem of endogeneity caused by the lagged dependent variable.
Findings - The research finds that overinvestment is negatively associated with firm performance. Debt or dividend policy separately can moderate the negative effect of overinvestment on firm performance. However, when these two policies are combined, they lessen the positive interaction impact of each policy due to the substitution between debt and dividend policy.
Research limitations/implications - The research may have two limitations. Firstly, the research measures overinvestment indirectly through investment demand function and HP filter. These two measures only help identify the sign that companies may have the problem of overinvestment because we cannot determine whether they overinvest or not in reality. Secondly, when using interaction variables, the problem of multicollinearity may be higher, and this may adjust the signs and significance level of variables in the models.
Practical implications - Practically, the research proposes three policy recommendations. Firstly, a company can exploit debt or dividend policy to limit excessive free cash flow in order to constrain the problem of overinvestment. Secondly, a company should enhance its corporate governance to resolve agency problems. Thirdly, the government should make the financial sector more transparent and effective to improve monitoring functions of various parties in the capital market.
Social implications - Overinvestment sometimes can cause social issues. Overinvestment means that companies make ineffective investment. If they continue this situation over a long time, companies may have financial distress or even go bankruptcy. As a result, it will slow down economic growth and increase unemployment in the economy.
Originality/value - The research is supposed to make two great contributions to the existing empirical studies in two aspects. Firstly, it is the first attempt to take into consideration the interaction between overinvestment and financial policies. Secondly, it helps enhance the fundamental stance of the agency theory, which supports the interdependence of debt, dividend and investment policy"
Channel capability and the effectiveness of new product strategies: Deepening the FMCG’s business
2020, Journal of Asian Business and Economic Studies
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Abstract
Purpose - The purpose of this paper is twofold: detecting, describing and providing a detailed understanding on the essence of buyer responses on the channel capability in deciding new product purchase; and describing the effectiveness of new product innovation related to the channel capability. The new product innovation intended here is an outcome of the brand strategy created by the fast-moving consumer goods (FMCG) manufacturer.
Design/methodology/approach - This research applies qualitative method and uses grounded theory approach and pragmatism interpretation, which are focused on FMCG. The approach chosen in research is grounded theory and pragmatism, parallel to the previous phenomenology and constructivism approach; therefore, the main data for this study use transcript records of the results of in-depth interviews in the field of study.
Findings
The research showed the following results: the channel capability aspects (warehouse space, shelf space and customer coverage) are the essence of buyers’ responses; construction of business buyer behavior and economic mechanism; the effectiveness of new product innovation; and channel capabilities of selling products.
Practical implications
The results of this research have some implications: developing the concept of business buyer behavior in a new-task purchase situation; expanding the micro-economic system of trading sector; and expanding the concept of marketing mix strategy.
Originality/value
Some of the theoretical implications are the originality of this research paper; therefore, the constructs will be described theoretically in order to provide practical understanding in some contexts of business importance.
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