The influence of brand value dimensions on consumer loyalty among young adults: Evidence from Sri Lanka's high-tech market
Uticaj dimenzija vrednosti brenda na lojalnost potrošača među mladima: dokazi sa tržišta visokih tehnologija Šri Lanke
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.
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.
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