Uticaj dimenzija vrednosti brenda na lojalnost potrošača među mladima: dokazi sa tržišta visokih tehnologija Šri Lanke
The influence of brand value dimensions on consumer loyalty among young adults: Evidence from Sri Lanka‘s high-tech market
Apstrakt
Lojalnost potrošača na tržištima visokih tehnologija suočava se sa izazovima usled brzih tehnoloških promena i promenljivih očekivanja potrošača. Iako istraživanja o percepiranoj vrednosti potrošača (eng. Consumer Perceived Value – CPV) postoje u različitim delatnostima, studije o percepciji vrednosti brendova na tržištima u razvoju, kao što je Šri Lanka, su ograničene. Ovaj rad ispituje uticaj dimenzija vrednosti brenda na lojalnost potrošača i pruža praktične uvide. Primarni podaci su prikupljeni od 463 ispitanika putem onlajn ankete, a analizirani su korišćenjem softverskih paketa SPSS i AMOS. Modeliranje strukturalnih jednačina (SEM) korišćeno je za testiranje pretpostavljenih odnosa između makro-nivo asocijacija brenda, dimenzija percepirane vrednosti i ishoda lojalnosti potrošača. Rezultati eksplorativne i konfirmativne faktorske analize potvrdili su validnost modela, pri čemu je podržano 16 od 18 hipoteza, uz snažno uklapanje modela i značajne odnose. Makro-nivo asocijacije brenda imale su raznolik, ali značajan uticaj na dimenzije vrednosti brenda. Funkcionalna, socijalna I emocionalna vrednost imaju najjači uticaj na dimenzije lojalnosti, dok su ekonomska i epistemološka vrednost imale slabiji efekat. Nalazi ovog istraživanja dopunjuju i produbljuju postojeća saznanja o konceptu CPV u industrijama visokih tehnologija.
Abstract
Consumer loyalty in high-tech markets is challenged by rapid technological change and shifting consumer expectations. Although Consumer Perceived Value (CPV) research exists across various industries, studies on high-tech brand value perceptions in emerging economies, such as Sri Lanka, are limited. This paper examines the influence of brand value dimensions on consumer loyalty in Sri Lanka and provides practical insights. Primary data from 463 university students, collected via a web-based survey, were analyzed using Statistical Package for the Social Sciences (SPSS) and Analysis of Moment Structures (AMOS). Structural Equation Modeling (SEM) was used to test the hypothesized relationships between macro-level brand associations, perceived value dimensions, and consumer loyalty outcomes. The results of the exploratory and confirmatory factor analyses confirmed the validity of the model, with 16 out of 18 hypotheses supported, demonstrating strong model fit and significant relationships. Macro-level brand associations had a varied but significant influence on brand value dimensions. Functional, social, and emotional values accounted for the most variance in loyalty constructs, while economic and epistemic values showed weaker effects. The findings of this research reinforce and refine the body of knowledge on the CPV concept in high-tech industries.
Reference
- Aaker, D. A. (1991). Managing brand equity: capitalizing on the value of a brand name. New York: The Free Press.
- Aaker, D. A. (1996). Measuring brand equity across products and markets. California Management Review, 38(3), 102-120. doi: 10.2307/41165845
- Ahmed, M. A., Khalid, S. and Ahmad, M. (2018). Repurchase intentions toward trendy clothing fashion in Muslim communities: the role of social influence, brand attachment and perceived value. Journal of Islamic Business and Management, 8(2), 480-500. https://doi.org/10.26501/jibm/2018.0802-009
- Allen Broyles, S., Leingpibul, T., Ross, R. H. and Foster, B. M. (2010). Brand equity’s antecedent/consequence relationships in cross-cultural settings. Journal of Product & Brand Management, 19(3), 159–169. https://doi.org/10.1108/10610421011046148
- Andreassen, T. W. and Lindestad, B. (1998). Customer loyalty and complex services: The impact of corporate image on quality, customer satisfaction and loyalty for customers with varying degrees of service expertise. International Journal of Service Industry Management, 9(1), 7–23. https://doi.org/10.1108/09564239810199923
- Blut, M., Chaney, D., Lunardo, R., Mencarelli, R. and Grewal, D. (2024). Customer perceived value: a comprehensive meta-analysis. Journal of Service Research, 27(4), 501–524. https://doi.org/10.1177/10946705231222295
- Byrne, B. M. (2016). Structural Equation Modeling With AMOS: Basic Concepts, Applications, and Programming (3rd ed.). New York: Routledge.
- Casteran, G., Chrysochou, P. and Meyer-Waarden, L.(2019). Brand loyalty evolution and the impact of category characteristics. Marketing Letters, 30, 57–73. https://www.doi.org/10.1007/s11002-019-09484-w
- Cengiz, E. and Yayla, H. E. (2007). The effect of marketing mix on positive word of mouth communication: Evidence from accounting offices in Turkey. Innovative Marketing, 3(4), 73–86.
- Chaudhuri, A. and Holbrook, M. B. (2002). Product-class effects on brand commitment and brand outcomes: The role of brand trust and brand affect. Journal of Brand Management, 10, 33–58. https://doi.org/10.1057/palgrave.bm.2540100
- Chen, A., Peng, N. and Hung, K. (2015). The effects of luxury restaurant environments on diners’ emotions and loyalty: Incorporating diner expectations into an extended Mehrabian-Russell model. International Journal of Contemporary Hospitality Management, 27(2), 236–260. https://doi.org/10.1108/IJCHM-07-2013-0280
- Chi, T. (2015). Consumer perceived value of environmentally friendly apparel: An empirical study of Chinese consumers. The Journal of The Textile Institute, 106(10), 1038–1050. https://doi.org/10.1080/00405000.2014.985879
- Chi, T. and Kilduff, P. P. D. (2011). Understanding consumer perceived value of casual sportswear: An empirical study. Journal of Retailing and Consumer Services, 18(5), 422–429. https://doi.org/10.1016/j.jretconser.2011.06.004
- Christodoulides, G. and de Chernatony, L. (2010). Consumer-based brand equity conceptualisation and measurement: a literature review. International Journal of Market Research, 52(1), 43–66. https://doi.org/10.2501/S1470785310201053
- Çifci, S. and Koçak, A. (2012). The impact of brand positivity on the relationship between corporate image and consumers’ attitudes toward brand extension in service businesses. Corporate Reputation Review, 15, 105–118. https://doi.org/10.1057/crr.2012.5
- Danes, J. E., Hess, J. S., Story, J. W. and Vorst, K. (2012). On the validity of measuring brand images by rating concepts and free associations. Journal of Brand Management, 19, 289–303. https://doi.org/10.1057/bm.2011.39
- Davcik, N. S., Vinhas da Silva, R. and Hair, J. F. (2015). Towards a unified theory of brand equity: Conceptualizations, taxonomy and avenues for future research. Journal of Product & Brand Management, 24(1), 3–17. https://doi.org/10.1108/JPBM-06-2014-0639
- Dawes, J. G., Graham, C. and Trinh, G. (2021). The long-term erosion of repeat-purchase loyalty. European Journal of Marketing, 55(3), 763–789. https://doi.org/10.1108/EJM-01-2018-0042
- de Ruyter, K. and Wetzels, M. (2000). The role of corporate image and extension similarity in service brand extensions. Journal of Economic Psychology, 21(6), 639–659. https://doi.org/10.1016/S0167-4870(00)00024-6
- Delgado-Ballester, E. and Fernandez Sabiote, E. (2015). Brand experimental value versus brand functional value: which matters more for the brand?European Journal of Marketing, 49(11/12), 1857–1879. https://doi.org/10.1108/EJM-02-2014-0129
- Diamantopoulos, A. (2010). Reflective and formative metrics of relationship value: Response to Baxter’s commentary essay. Journal of Business Research, 63(1), 91–93. https://doi.org/10.1016/j.jbusres.2009.03.001
- Dimofte, C. V, Johansson, J. K. and Ronkainen, I. A.(2008). Cognitive and affective reactions of US consumers to global brands. Journal of International Marketing, 16(4), 113–135. https://doi.org/10.1509/jimk.16.4.113
- Dodds, W. B. and Monroe, K. (1985). The effects of brand and price information on subjective product evaluation. Advances in Consumer Research, 12(1), 85–90.
- Doyle, P. and Bridgewater, S. (2012). Innovation in marketing. New York: Routledge.
- Duman, T. and Mattila, A. S. (2005). The role of affective factors on perceived cruise vacation value. Tourism Management, 26(3), 311–323. https://doi.org/10.1016/j.tourman.2003.11.014
- Eggert, A., Ulaga, W., Frow, P. and Payne, A. (2018). Conceptualizing and communicating value in business markets: From value in exchange to value in use. Industrial Marketing Management, 69, 80–90. https://doi.org/10.1016/j.indmarman.2018.01.018
- El-Adly, M. I. (2019). Modelling the relationship between hotel perceived value, customer satisfaction, and customer loyalty. Journal of Retailing and Consumer Services, 50, 322–332. https://doi.org/10.1016/j.jretconser.2018.07.007
- E M Steenkamp, J.B., Batra, R. and Alden, D. L. (2003). How perceived brand globalness creates brand value. Journal of International Business Studies, 34, 53–65. https://doi.org/10.1057/palgrave.jibs.8400002
- Fornell, C. and Larcker, D. F. (1981). Evaluating structural equation models with unobservable variables and measurement error. Journal of Marketing Research, 18(1), 39–50. https://doi.org/10.2307/3151312
- Fournier, S. (1998). Consumers and their brands: Developing relationship theory in consumer research. Journal of Consumer Research, 24(4), 343–373. https://doi.org/10.1086/209515
- Gallarza, M. G., Arteaga, F., Del Chiappa, G., Gil-Saura, I. and Holbrook, M. B. (2017). A multidimensional service-value scale based on Holbrook’s typology of customer value: Bridging the gap between the concept and its measurement. Journal of Service Management, 28(4), 724–762. https://doi.org/10.1108/JOSM-06-2016-0166
- Gallarza, M. G., Ruiz-Molina, M. E. and Gil-Saura, I.(2016). Stretching the value-satisfaction-loyalty chain by adding value dimensions and cognitive and affective satisfactions: A causal model for retailing. Management Decision, 54(4), 981–1003. https://doi.org/10.1108/MD-07-2015-0323
- Gallarza, M. G. and Saura, I. G. (2006). Value dimensions, perceived value, satisfaction and loyalty: an investigation of university students’ travel behaviour. Tourism Management, 27(3), 437–452. https://doi.org/10.1016/j.tourman.2004.12.002
- García-Fernández, J., Gálvez-Ruíz, P., Fernández-Gavira, J., Vélez-Colón, L., Pitts, B. and Bernal-García, A. (2018). The effects of service convenience and perceived quality on perceived value, satisfaction and loyalty in low-cost fitness centers. Sport Management Review, 21(3), 250–262. https://doi.org/10.1016/j. smr.2017.07.003
- Gehlhar, M. J., Regmi, A., Stefanou, S. E. and Zoumas, B. L. (2009). Brand leadership and product innovation as firm strategies in global food markets. Journal of Product & Brand Management, 18(2), 115–126. https://doi.org/10.1108/10610420910949013
- Graham, M. E. and Bansal, P. (2007). Consumers’ willingness to pay for corporate reputation: the context of airline companies. Corporate Reputation Review, 10, 189–200. https://doi.org/10.1057/palgrave. crr.1550052
- Gremler, D. D. and Gwinner, K. P. (2000). Customer-employee rapport in service relationships. Journal of Service Research, 3(1), 82–104. https://doi.org/10.1177/109467050031006
- Gutiérrez, M. M. G., Perona Páez, J. J. and Gutiérrez Bonilla, F. de P. (2024). Models of brand equity. A systematic and critical review. Cogent Business & Management, 11(1). https://doi.org/10.1080/23311975 .2024.2433168
- Hair, J., Anderson, R., Babin, B. and Black, W. (2013). Multivariate Data Analysis (7th ed.). London: Pearson Higher Education.
- Halwani, L. (2021). Heritage luxury brands: insight into consumer motivations across different age groups. Qualitative Market Research: An International Journal, 24(2), 161–179. https://doi.org/10.1108/QMR-07-2019-0092
- Hamann, D., Williams, R. L. and Omar, M. (2007). Branding strategy and consumer high-technology product. Journal of Product & Brand Management, 16(2), 98–111. https://doi.org/10.1108/10610420710739973
- He, Y. and Song, H. (2009). A mediation model of tourists’ repurchase intentions for packaged tour services. Journal of Travel Research, 47(3), 317–331. https://doi.org/10.1177/0047287508321206
- Heding, T., Knudtzen, C. F. and Bjerre, M. (2020). Brand management: Mastering research, theory and practice. New York: Routledge.
- Holbrook, M. B. (1999). Consumer value. A Framework for Analysis and Research. New York: Routledge.
- Hsiao, K.L. and Chen, C.C. (2016). What drives in-app purchase intention for mobile games? An examination of perceived values and loyalty. Electronic Commerce Research and Applications, 16, 18–29. https://doi.org/10.1016/j.elerap.2016.01.001
- Hur, W., Kim, Y. and Park, K. (2013). Assessing the effects of perceived value and satisfaction on customer loyalty: a ‘green’perspective. Corporate Social Responsibility and Environmental Management, 20(3), 146–156. https://doi.org/10.1002/csr.1280
- Jeong, E. and Jang, S. S. (2011). Restaurant experiences triggering positive electronic word-of-mouth (eWOM) motivations. International Journal of Hospitality Management, 30(2), 356–366. https://doi.org/10.1016/j.ijhm.2010.08.005
- Jiang, Y., Balaji, M. S. and Jha, S. (2019). Together we tango: Value facilitation and customer participation in Airbnb. International Journal of Hospitality Management, 82, 169–180. https://doi.org/10.1016/j. ijhm.2019.05.004
- Jo, H. (2024). Determinants of word-of-mouth in the virtual reality market: A focus on aesthetic attributes and perceived value. International Journal of Human–Computer Interaction, 40(24), 1–17. https://doi.org/10. 1080/10447318.2023.2285644
- Johnson, M. D., Herrmann, A. and Huber, F. (2006). The evolution of loyalty intentions. Journal of Marketing, 70(2), 122–132. https://doi.org/10.1509/jmkg.70.2.122
- Kamakura, W. A. and Russell, G. J. (1993). Measuring brand value with scanner data. International Journal of Research in Marketing, 10(1), 9–22. https://doi.org/10.1016/0167-8116(93)90030-3
- Kang, J., Hong, S. and Hubbard, G. T. (2020). The role of storytelling in advertising: Consumer emotion, narrative engagement level, and word-of-mouth intention. Journal of Consumer Behaviour, 19(1), 47–56. https://doi.org/10.1002/cb.1793
- Kashyap, R. and Bojanic, D. C. (2000). A structural analysis of value, quality, and price perceptions of business and leisure travelers. Journal of Travel Research, 39(1), 45–51. https://doi.org/10.1177/004728750003900106
- Keh, H. T. and Xie, Y. (2009). Corporate reputation and customer behavioral intentions: The roles of trust, identification and commitment. Industrial Marketing Management, 38(7), 732–742. https://doi.org/10.1016/j.indmarman.2008.02.005
- Keller, K. L. (1993). Conceptualizing, measuring, and managing customer-based brand equity. Journal of Marketing, 57(1), 1–22. https://doi.org/10.1177/002224299305700101
- Keller, K. L. (2002). Branding and brand equity. In B. A. Weitz and R. Wensley (Eds.), Handbook of marketing (pp. 151–178). New York: SAGE Publications Ltd. https://doi.org/10.4135/9781848608283.n8
- Keller, K. L. (2006). Measuring brand equity. In R. Grover and M. Vriens (Eds.), The Handbook of Marketing Research: Uses, misuses, and applications (pp. 546-568). Thousand Oaks, C.A.: Sage Publications, Inc.
- Keller, K. L., Parameswaran, M. G. and Jacob, I. (2010). Strategic brand management: Building, measuring, and managing brand equity. Delhi: Pearson Education India.
- Kennedy, S. H. (1977). Nurturing corporate images. European Journal of Marketing, 11(3), 119–164. https://doi.org/10.1108/EUM0000000005007
- Khan, S. N. and Mohsin, M. (2017). The power of emotional value: Exploring the effects of values on green product consumer choice behavior. Journal of Cleaner Production, 150, 65–74. https://doi.org/10.1016/j.jclepro.2017.02.187
- Koller, M., Floh, A. and Zauner, A. (2011). Further insights into perceived value and consumer loyalty: A “green” perspective. Psychology & Marketing, 28(12), 1154–1176. https://doi.org/10.1002/mar.20432
- Küpeli, T. Ş. and Özer, L. (2020). Assessing perceived risk and perceived value in the hotel industry: An integrated approach. Anatolia, 31(1), 111–130. https://doi.org/10.1080/13032917.2020.1711785
- Leigh, T. W., Peters, C. and Shelton, J. (2006). The consumer quest for authenticity: The multiplicity of meanings within the MG subculture of consumption. Journal of the Academy of Marketing Science, 34, 481–493. doi.org/10.1177/0092070306288403
- Leroi-Werelds, S. (2019). An update on customer value: state of the art, revised typology, and research agenda. Journal of Service Management, 30(5), 650–680. https://doi.org/10.1108/JOSM-03-2019-0074
- Leroi-Werelds, S., Streukens, S., Brady, M. K. and Swinnen, G. (2014). Assessing the value of commonly used methods for measuring customer value: A multi-setting empirical study. Journal of the Academy of Marketing Science, 42, 430–451. https://doi.org/10.1007/s11747-013-0363-4
- Lin, C., Sher, P. J. and Shih, H. (2005). Past progress and future directions in conceptualizing customer perceived value. International Journal of Service Industry Management, 16(4), 318–336. https://doi.org/10.1108/09564230510613988
- Liu, C.H. S. and Lee, T. (2016). Service quality and price perception of service: Influence on word-of-mouth and revisit intention. Journal of Air Transport Management, 52, 42–54. https://doi.org/10.1016/j. jairtraman.2015.12.007
- Merchant, A. and Rose, G. M. (2013). Effects of advertising-evoked vicarious nostalgia on brand heritage. Journal of Business Research, 66(12), 2619–2625. https://doi.org/10.1016/j.jbusres.2012.05.021
- Miao, R., Xu, F., Zhang, K. and Jiang, Z. (2014). Development of a multi-scale model for customer perceived value of electric vehicles. International Journal of Production Research, 52(16), 4820–4834. https://doi.org/10.1080/00207543.2014.890757
- Miller, K. W. and Mills, M. K. (2012). Contributing clarity by examining brand luxury in the fashion market. Journal of Business Research, 65(10), 1471–1479. https://doi.org/10.1016/j.jbusres.2011.10.013
- Mohr, J., Snjit, S. and Stanley, S. (2011). Marketing of high-technology products and innovations. Delhi: Pearson Education India.
- Montgomery, D. C., Peck, E. A. and Vining, G. G. (2021). Introduction to linear regression analysis. Hoboken, New Jersey: John Wiley & Sons.
- Morgan, R. P. (1999). A consumer-oriented framework of brand equity and loyalty. International Journal of Market Research, 42(1), 1-9. https://doi.org/10.1177/147078530004200105
- Mosavi, S. A. and Ghaedi, M. (2012). An examination of the effects of perceived value and attitude on customers’ behavioral intentions in e-shopping. African Journal of Business Management, 6(5), 1950-1959. https://doi.org/10.5897/AJBM11.2205
- Motameni, R. and Shahrokhi, M. (1998). Brand equity valuation: a global perspective. Journal of Product & Brand Management, 7(4), 275–290. https://doi.org/10.1108/10610429810229799
- Murray, J., Elms, J. and Teller, C. (2017). Examining the role of store design on consumers’ cross-sectional perceptions of retail brand loyalty. Journal of Retailing and Consumer Services, 38, 147–156. https://doi.org/10.1016/j.jretconser.2017.06.001
- Na, W., Son, Y. and Marshall, R. (2007). Why buy second-best? The behavioral dynamics of market leadership. Journal of Product & Brand Management, 16(1), 16–22. https://doi.org/10.1108/10610420710731124
- Nalchy, A. R., Rasoulian, M. and Boojari, H. (2012). Consumer Purchasing Behavior towards Foreign Brands in the Domestic Brands. Development of Management Journal, 8, 47–56.
- Nguyen, Q., Nguyen, H. and Le, T. (2020). Relationships among novelty seeking, satisfaction, return intention, and willingness to recommend of foreign tourists in Vietnam. Management Science Letters, 10, 2249–2258. http://dx.doi.org/10.5267/j. msl.2020.3.011
- Oh, H. (1999). Service quality, customer satisfaction, and customer value: A holistic perspective. International Journal of Hospitality Management, 18(1), 67–82. https://doi.org/10.1016/S0278-4319(98)00047-4
- Pallant, J. (2020). SPSS survival manual: A step by step guide to data analysis using IBM SPSS. London: Routledge.
- Pape, D. and Toporowski, W. (2023). Reviving the experiential store: the effect of scarcity and perceived novelty in driving word-of-mouth. International Journal of Retail & Distribution Management, 51(9/10), 1065–1094. https://doi.org/10.1108/IJRDM-10-2022-0398
- Park, C. S. and Srinivasan, V. (1994). A survey-based method for measuring and understanding brand equity and its extendibility. Journal of Marketing Research, 31(2), 271–288. https://doi.org/10.2307/3152199
- Park, J., Hyun, H. and Thavisay, T. (2021). A study of antecedents and outcomes of social media WOM towards luxury brand purchase intention. Journal of Retailing and Consumer Services, 58. https://doi.org/10.1016/j.jretconser.2020.102272
- Pecot, F., Valette-Florence, P. and De Barnier, V. (2019). Brand heritage as a temporal perception: conceptualisation, measure and consequences. Journal of Marketing Management, 35(17–18), 1624–1643. https://doi.org/10.1080/0267257X.2019.1667414
- Pihlström, M. and Brush, G. J. (2008). Comparing the perceived value of information and entertainment mobile services. Psychology & Marketing, 25(8), 732–755. https://doi.org/10.1002/mar.20236
- Pizzi, G. and Scarpi, D. (2019). The year of establishment effect on brand heritage and attitudes. Journal of Consumer Marketing, 36(6), 827–834. https://psycnet.apa.org/doi/10.1108/JCM-05-2018-2665
- Ranaweera, C. and Karjaluoto, H. (2017). The impact of service bundles on the mechanism through which functional value and price value affect WOM intent. Journal of Service Management, 28(4), 707–723. https://doi.org/10.1108/JOSM-03-2016-0065
- Rose, G. M., Merchant, A., Orth, U. R. and Horstmann, F. (2016). Emphasizing brand heritage: Does it work? And how? Journal of Business Research, 69(2), 936–943. https://doi.org/10.1016/j.jbusres.2015.06.021
- Rubera, G., Ordanini, A. and Griffith, D. A. (2011). Incorporating cultural values for understanding the influence of perceived product creativity on intention to buy: An examination in Italy and the US. Journal of International Business Studies, 42, 459–476. https://doi.org/10.1057/jibs.2011.3
- Shankar, V., Azar, P. and Fuller, M. (2008). BRAN*EQT: A multicategory brand equity model and its application at allstate. Marketing Science, 27(4), 567–584. http://dx.doi.org/10.1287/mksc.1070.0320
- Sheth, J. N., Newman, B. I. and Gross, B. L. (1991). Why we buy what we buy: A theory of consumption values. Journal of Business Research, 22(2), 159–170. https://doi.org/10.1016/0148-2963(91)90050-8
- Simanjuntak, M., Nur, H., Sartono, B. and Sabri, M.(2020). A general structural equation model of the emotions and repurchase intention in modern retail. Management Science Letters, 10, 801–814. http://dx.doi.org/10.5267/j.msl.2019.10.017
- Simon, C. J. and Sullivan, M. W. (1993). The measurement and determinants of brand equity: A financial approach. Marketing Science, 12(1), 28–52. https://doi.org/10.1287/mksc.12.1.28
- Sojoodi, S. and Baghbanpour, J. (2024). The relationship between high-tech industries exports and GDP growth in the selected developing and developed countries. Journal of the Knowledge Economy, 15, 2073–2095. https://doi.org/10.1007/s13132-023-01174-3
- Souiden, N., Kassim, N. M. and Hong, H. (2006). The effect of corporate branding dimensions on consumers’ product evaluation: A cross-cultural analysis. European Journal of Marketing, 40(7/8), 825–845. https://doi.org/10.1108/03090560610670016
- Souki, G. Q., Oliveira, A. S., de Barcelos, M. T. C., Guerreiro, M. M. M., Mendes, J.d.C. and Moura, L. R. C. (2024). Does guests-perceived value for money affect WOM and eWOM? The impact of consumer engagement on SNS on eWOM. The TQM Journal, 36(8), 2484–2506. https://doi.org/10.1108/TQM-03-2023-0088
- Sweeney, J. C. and Soutar, G. N. (2001). Consumer perceived value: The development of a multiple item scale. Journal of Retailing, 77(2), 203–220. https://doi.org/10.1016/S0022-4359(01)00041-0
- Tsai, S. (2005). Utility, cultural symbolism and emotion: A comprehensive model of brand purchase value. International Journal of Research in Marketing, 22(3), 277–291. https://doi.org/10.1016/j.ijresmar.2004.11.002
- Urde, M., Greyser, S. A. and Balmer, J. M. T. (2007). Corporate brands with a heritage. Journal of Brand Management, 15, 4–19. https://doi.org/10.1057/palgrave.bm.2550106
- Vázquez, R., del Rio, A. B. and Iglesias, V. (2002). Consumer-based brand equity: development and validation of a measurement instrument. Journal of Marketing Management, 18(1–2), 27–48. https://doi.org/10.1362/0267257022775882
- Wakefield, K. L. and Barnes, J. H. (1996). Retailing hedonic consumption: a model of sales promotion of a leisure service. Journal of Retailing, 72(4), 409–427. https://doi.org/10.1016/S0022-4359(96)90021-4
- Wiedmann, K., Hennigs, N. and Siebels, A. (2009). Value-based segmentation of luxury consumption behavior. Psychology & Marketing, 26(7), 625–651. https://doi.org/10.1002/mar.20292
- Wu, L.Y., Chen, K.Y., Chen, P.Y. and Cheng, S.L. (2014). Perceived value, transaction cost, and repurchase-intention in online shopping: A relational exchange perspective. Journal of Business Research, 67(1), 2768–2776. https://doi.org/10.1016/j.jbusres.2012.09.007
- Wuestefeld, T., Hennigs, N., Schmidt, S. and Wiedmann, K.P. (2012). The impact of brand heritage on customer perceived value. Der Markt, 51, 51–61. https://doi.org/10.1007/s12642-012-0074-2
- Yang, K. and Jolly, L. D. (2009). The effects of consumer perceived value and subjective norm on mobile data service adoption between American and Korean consumers. Journal of Retailing and Consumer Services, 16(6), 502–508. https://doi.org/10.1016/j. jretconser.2009.08.005
- Yoo, B. and Donthu, N. (2001). Developing and validating a multidimensional consumer-based brand equity scale. Journal of Business Research, 52(1), 1–14. https://doi.org/10.1016/S0148-2963(99)00098-3
- Yoo, B., Donthu, N. and Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the Academy of Marketing Science, 28, 195–211. https://doi.org/10.1177/0092070300282002
- Yu, J., Zo, H., Kee Choi, M. and P. Ciganek, A. (2013). User acceptance of location-based social networking services: An extended perspective of perceived value. Online Information Review, 37(5), 711–730. http://dx.doi.org/10.1108/OIR-12-2011-0202
- Zauner, A., Koller, M. and Hatak, I. (2015). Customer perceived value—Conceptualization and avenues for future research. Cogent Psychology, 2(1). https://doi.org/10.1080/23311908.2015.1061782
- Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: a means-end model and synthesis of evidence. Journal of Marketing, 52(3), 2–22. https://doi.org/10.1177/002224298805200302
- Zeithaml, V. A., Verleye, K., Hatak, I., Koller, M. and Zauner, A. (2020). Three decades of customer value research: paradigmatic roots and future research avenues. Journal of Service Research, 23(4), 409–432. https://doi.org/10.1177/1094670520948134
- Zhang, X., Ma, L. and Wang, G.S. (2019). Investigating consumer word-of-mouth behaviour in a Chinese context. Total Quality Management & Business Excellence, 30(5–6), 579–593. https://doi.org/10.1080/14783363.2017.1317587
- Zhou, L., Yang, Z. and Hui, M. K. (2010). Non-local or local brands? A multi-level investigation into confidence in brand origin identification and its strategic implications. Journal of the Academy of Marketing Science, 38, 202–218. https://doi.org/10.1007/s11747-009-0153-1
