Examining the effect of different components of customer value on attitudinal loyalty and behavioral intentions

Purpose – The aim of the research is to determine the effects of the four dimensions of customer values that the study identifies, namely, emotional value, social value, functional value and monetary value, on attitudinal loyalty and behavioral intentions. The concept of perceived value is increasingly becoming a subject of interest for authors and researchers in the field of services marketing. Perceived value is considered to be a significant predictor of behavioral intentions. The manner in which consumers perceive the value of a product or service that is offered affects the level of their loyalty. In this context, an analysis of perceived value represents a very important activity in terms of customer-orientated management. Quite frequently, customer value is seen as a multidimensional construct that includes several components. Design/methodology/approach – The survey was conducted via a sample of 246 respondents – users of mobile telecommunication operators. Each construct of the suggested model was measured with three to five statements. The respondents expressed their level of agreement with statements on a 7-point Likert scale. The fit of the model was tested by using confirmative factor analysis, while the relationships hypothesized in the study were tested by using structural equation modeling. Findings – By applying structural equation modeling, the significance of the influence of emotional and social values on attitudinal loyalty, as well as the significant effects of functional and monetary value on behavioral intentions, was confirmed. Furthermore, the strong influence of attitudinal loyalty on behavioral intentions was also identified. The results clearly reveal that in terms of the intensity of the effect, emotional value stands out as the strongest antecedent of attitudinal loyalty. Emotional value has a significant indirect effect on behavioral intentions through attitudinal loyalty. Originality/value – The originality of the study is invoked through identifying four key components of perceived value. The concept of perceived value has only been analyzed by means of its emotional, social, functional and monetary dimension in a small number of prior studies. This paper identifies theoretical, as well as managerial, implications. From a theoretical aspect, causal relationships among viewed variables of the conceptualized model were determined. From the managerial perspective, the results obtained indicate that it is important that mobile operators primarily build a strong emotional connection with their customers because the emotional component of the perceived value has the greatest potential for generating long-term relationships. The findings of this research assist managers employed within mobile network operators to understand the role of various components of customer value in the process of creating customer loyalty.