An Empirical Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value and Customer Loyalty Using Structural Equation Modeling
Abstract
:1. Introduction
2. Literature Review
2.1. Brand as Symbol
2.2. Perceived Value
2.3. Message-Response Involvement
2.4. Consumer Loyalty
3. Study Methods
3.1. Study Framework
3.2. Study Hypotheses
3.3. Operational Definition and Measurement of Variables in the Study
3.3.1. Brand as Symbol
3.3.2. Message-Response Involvement
3.3.3. Perceived Value
3.3.4. Customer Loyalty
3.4. Study Design
3.5. Analytic Methods Used in the Study
4. Data Analysis
4.1. Analysis Using Descriptive Statistics
4.2. The Pearson Correlation Test
4.3. Confirmatory Factor Analysis
4.4. SEM Goodness-of-Fit Analysis
4.5. Path Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value, Message-Response Involvement and Customer Loyalty
5. Conclusions and Discussion
5.1. Managerial Implications
5.2. Research Limitations and Future Research Directions
Author Contributions
Funding
Conflicts of Interest
References
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Study Dimension | Question No. | Factor Loading |
---|---|---|
Message-response Involvement (MIS) | M1 | 0.76 |
M2 | 0.83 | |
M3 | 0.78 | |
M4 | 0.83 | |
M5 | 0.83 | |
M6 | 0.81 | |
M7 | 0.82 | |
M8 | 0.81 | |
M9 | 0.81 | |
M10 | 0.73 | |
Perceived Transaction Value (PT) | T1 | 0.85 |
T2 | 0.88 | |
T3 | 0.82 | |
Brand as Symbol (BS) | S1 | 0.90 |
S2 | 0.86 | |
S3 | 0.81 | |
Customer Loyalty (LO) | L1 | 0.64 |
L2 | 0.75 | |
L3 | 0.54 | |
Perceived Acquisition Value (PA) | A1 | 0.64 |
A2 | 0.79 | |
A3 | 0.78 | |
A4 | 0.80 | |
A5 | 0.82 | |
A6 | 0.60 | |
A7 | 0.57 | |
A8 | 0.57 | |
A9 | 0.62 |
Model Goodness-of-Fit Index | RMSEA | χ2/df | GFI | CFI | AGFI |
---|---|---|---|---|---|
<0.08 | 1~5 | >0.8 | >0.9 | >0.8 | |
Before modification | 0.096 | 4.566 | 0.747 | 0.848 | 0.701 |
After modification | 0.079 | 3.417 | 0.848 | 0.914 | 0.812 |
Estimate | S.E. | C.R. | p | Standardized Regression Weights | |||
---|---|---|---|---|---|---|---|
BIS | → | MIS | 0.535 | 0.046 | 11.628 | *** | 0.51 |
BIS | → | PT | 0.532 | 0.039 | 13.582 | *** | 0.57 |
BIS | → | PA | 0.629 | 0.031 | 20.572 | *** | 0.72 |
PT | → | LO | 0.308 | 0.033 | 9.357 | *** | 0.40 |
MIS | → | LO | −0.028 | 0.028 | −0.996 | 0.319 | −0.04 |
PA | → | LO | 0.226 | 0.042 | 5.364 | *** | 0.27 |
BIS | → | LO | 0.146 | 0.043 | 3.370 | *** | 0.20 |
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Lee, H.N.; Lee, A.S.; Liang, Y.W. An Empirical Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value and Customer Loyalty Using Structural Equation Modeling. Sustainability 2019, 11, 2116. https://doi.org/10.3390/su11072116
Lee HN, Lee AS, Liang YW. An Empirical Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value and Customer Loyalty Using Structural Equation Modeling. Sustainability. 2019; 11(7):2116. https://doi.org/10.3390/su11072116
Chicago/Turabian StyleLee, Huang Ning, An Sheng Lee, and Yo Wen Liang. 2019. "An Empirical Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value and Customer Loyalty Using Structural Equation Modeling" Sustainability 11, no. 7: 2116. https://doi.org/10.3390/su11072116
APA StyleLee, H. N., Lee, A. S., & Liang, Y. W. (2019). An Empirical Analysis of Brand as Symbol, Perceived Transaction Value, Perceived Acquisition Value and Customer Loyalty Using Structural Equation Modeling. Sustainability, 11(7), 2116. https://doi.org/10.3390/su11072116