ABSTRACT

Purpose- Recently, Korean companies have been strugglingto perform well in the larger smartphone market in China, whichis regarded as a blue ocean area. First, it is very important toaccurately understand the Chinese consumers, who have a different consumption culture and value system from the Koreanculture and system. This would help to identify priorities for theChinese market. Further, considering the smartphone industry,where technological change is rapid, Korean companies willneed to take prompt measures about market trends in order toestablish strong competitiveness. Consequently, this study focused on analyzing the relationship between the variables ofconsumption value, satisfaction, and loyalty in the Chinesesmartphone market. The principal dimensions of consumptionvalue, which smartphones have, was analyzed, and the influence on satisfaction was identified. Moreover, the relationshipamong the variables of satisfaction, attitudinal loyalty, and behavioral loyalty was empirically analyzed. Research design, data, and methodology- This study examined the relationships between various consumption values(functional value, emotional value, social value, epistemic value,and economic value), along with satisfaction and loyalty. Thedata were collected through a questionnaire survey that was circulated to 310 customers who were users of smartphones inChingdao and Yeontae regions in China. The survey was conducted from June 23 to August 4, 2013. A total of 301 responses to the questionnaires were collected and used for thedata analysis. Moreover, a path analysis based on Lisrel 8.54was used for the hypothesis test. Results- The variables of functional value, emotional value,social value, and epistemic value were revealed to have positive effects on satisfaction related to smartphone usage. However,the variables of monetary cost and psychological cost were notfound to have negative effects on satisfaction related to smartphone usage. Moreover, satisfaction positively influenced attitudinal loyalty related to smartphone usage, but did not have a significant influence on behavioral loyalty related to smartphoneusage. Specifically, satisfaction is essential, but not a sufficientcondition for building behavioral loyalty in relation to smartphoneusage. In addition, attitudinal loyalty positively influenced behavioral loyalty in relation to smartphone usage. Conclusions- First, this study shows that functional value,emotional value, social value, and epistemic value in relation tosmartphone usage are important for marketing in the Chinesesmartphone market. Particularly, functional value and emotionalvalue play pre-eminent roles as regards customer loyalty in theuse of smartphones. Second, the results of this study revealthat the variables of monetary cost and psychological cost arenot important to the Chinese consumers. Specifically, the smartphone price and cognitive effort are not perceived as valuebarriers. Third, satisfaction did not guarantee behavioral loyaltyin relation to smartphone usage, and the strategic approach forimproving the repurchase and referral action in relation to smartphones based on solid attitudinal loyalty would be desirable andshould be the focus of the marketing activities of Korean smartphone companies.

KEYWORD

Consumption Value, Satisfaction, Loyalty.

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