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Published on March 4, 2014

Author: TIIKMConferences

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PowerPoint Presentation: Hosted by: Conference partners: DISCOVERING PERCEVIVED VALUE OF ONLINE RETAILING T.C Gamage Fazeela Jameel Ahsan   DISCOVERING PERCEVIVED VALUE OF ONLINE RETAILING:   DISCOVERING PERCEVIVED VALUE OF ONLINE RETAILING T.C Gamage Dept. of Marketing Management, Sabaragamuwa University of Sri Lanka Fazeela Jameel Ahsan Dept. of Marketing Management, University of Colombo Presentation Outline: Presentation Outline Background of the Study Research Gap Theoretical Background Methodology Data Analysis Findings Discussion and Conclusion Managerial and Theoretical Implications   12:48:39 AM 3 Background of the Study: Background of the Study Customer perceived value (CPV) is the central focus of the marketing concept (Woodruff, 1997) Creation of CPV has become a strategic imperative in building and sustaining a competitive advantage (Slater, 1997) The concept and determinants of CPV are believed to be changed with the emergence of the Internet and its related technologies into the business arena ( Pura and Gummerus , 2007) 12:48:39 AM 4 Research Gap: Still there is a little consensus on what CPV is or how it should be conceptualized in online services context (Overby and Lee, 2006) Online CPV can be different from its offline counterpart due to the temporal and spatial nature of CPV (Overby and Lee, 2006; Pura and Gummerus, 2007) In online services context, not only the product/ service itself, but also context-specific , time-space conditions of service use contribute value to customers (Pura and Gummerus, 2007) Research Gap 12:48:39 AM 5 Research Gap: So far these aspects have received little attention in customer value research (Pura and Gummerus, 2007) Fills this gap by identifying multiple value perceptions of online retailing, recognizing the contextual elements influencing service use Research Gap 12:48:39 AM 6 Research Objective: Research Objective To develop a CPV measurement which examines the different dimensions of customer value in online retailing settings 12:48:39 AM 7 Theoretical Background: Theoretical Background An abundance of definitions and conceptualizations of CPV have appeared during last three decades Two major approaches to the conceptualization of CPV The Traditional/ Unidimensional Approach to Perceived Value The Multidimentional Approach to Perceived Value 12:48:39 AM 8 Multiple Value Perception of Online Retailing: Multiple Value Perception of Online Retailing Sheth et al. (1991) consumption-values theory as the foundation Contains both utilitarian and hedonic view of consumption by including goal-oriented consumption in functional value as well as the emotional aspects of hedonic consumption Takes into account context dependency Uses empirical studies based on the theory ( Pura , 2005; Pura and Gummerus , 2007) in technology context as support to define value dimensions in detail 12:48:39 AM 9 Multiple Value Perception of Online Retailing: Multiple Value Perception of Online Retailing 12:48:39 AM 10 Methodology: Research Paradigm: Positivistic Research Approach: Quantitative Research Strategy: Survey Strategy Unit of Analysis: Individual Time Horizon: Cross-sectional Context: Sri Lankan Hotel Industry (Survey Findings, Contribution) Respondents: Hotel Customers (Literature, Survey Findings, Contribution) Methodology 12:48:39 AM 11 Methodology: Hotels: 50 star-class Sri Lankan hotels Hotel Customers: 300 (Chen and Quester, 2006) Sampling Method: Convenience (Chen and Quester, 2006; Overby and Lee, 2006) Received Back (Usable): 147 questionnaires Response Rate: 49% Methodology 12:48:39 AM 12 Methodology: Questionnaire: Self-administered, close-ended Part A – Demographic variables (Age, gender, country of residence) Part B – Perception Part C – Contextual factors Measures: Derived from consumer behavior and services marketing literature New items developed through a qualitative pre-study (16 personal in-depth interviews with industry experts, academics and Internet users) – epistemic and conditional value measures Methodology 12:48:39 AM 13 Sample Profile:  Sample Profile Sample Profile 12:48:39 AM 14 Data Analysis: Exploratory Factor Analysis: to investigate if the theorized value dimensions could be extracted from the data KMO Value: 0.81  Bartlette’s Test of Sphericity: Significant (p < 0.001)  Data Analysis 12:48:39 AM 15 Correlation Table: Correlation Table 12:48:39 AM 16 Fornell and Larcker (1981) test reveals they do measure separate constructs Data Analysis: Convergent Validity Factor Loadings greater than 0.7 or 0.5  AVE Values greater than 0.5  Discriminant Validity Square root of AVE values should greater than the inter correlations  Reliability Cronbach’s α greater than 0.7  Data Analysis 12:48:39 AM 17 Findings: All constructs are both conceptually and empirically distinct from each other Six component solution depicting six value dimensions was clearly identifiable Monetary Value Convenience Value Social Value Emotional Value Epistemic Value Conditional Value Findings 12:48:39 AM 18 Discussion and Conclusion: Existing models failed to acknowledge the conditional and epistemic factors, but Sheth et al. (1991) consumption-values theory apply surprisingly well in the online services context with some modifications Rayport and Sivolka (1994) postulate that the traditional market place has transformed into a marketspace, where value propositions are disaggregated into content- and context-related factors Validates six value dimensions that are applicable in online retailing use context while illustrating how important situational factors are in influencing use of online retailing, in addition to customers’ more permanent value perceptions that are related to the online retailing content itself Discussion and Conclusion 12:48:39 AM 19 Managerial and Theoretical Implications: Contributes to the value literature by identifying and validating a multidimensional CPV construct that recognizes value dimensions related to both content and use context (situation-specific factors) Situation-specific factors are important for understanding under which conditions customers choose online service content over other possible media Increases understanding of marketers on how to target the services at user segments that most likely end up in similar situations and would perceive the services especially valuable. Managerial and Theoretical Implications 12:48:39 AM 20 Limitations and Future Research Directions: Since this study was conducted in an Asian country with relatively developing online services, the findings are not generalized as such but rather provide insights for future research Customers’ value perceptions may differ in different cultures and the weight of the influence of different value dimensions should be interpreted cautiously Future research Is needed in different types of online services, and different online user groups in different cultural and situational milieus that are at different phases of development with regard to online services Longitudinal studies on customers’ value perception changes Limitations and Future Research Directions 12:48:39 AM 21 Thank You: Thank You

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