The Impact of Customer Perceived Value on Customer Satisfaction: A Case Study on MBO Cinemas

This thesis assesses the effect of customer perceived model on customer satisfaction in the entertainment industry in Malaysia. A case study on MBO Cinemas. Functional, social, emotional, economic and conditional values have significant impact on customer satisfaction.

Running head: THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER
SATISFACTION
The Impact of Customer Perceived Value on Customer Satisfaction: A Case Study on MBO
Cinemas
Name of the Student:
Name of the University:
Author’s Note:

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Abstract
This thesis has been framed in order to assess the effect of customer perceived model on the
extent of customer satisfaction in the entertainment industry in Malaysia. The thesis has
chosen a sample size comprising of 100 respondents from Malaysia with the assistance of the
process of sampling. A questionnaire has been constructed comprising of close ended
questions and these questions have been forwarded to the respondents in order to provide
their feedback. The results that have been obtained addresses the fact that functional, social,
emotional, economic and conditional values have been the essential issues that have
significant level of impact on the level of customer satisfaction in the entertainment industry
in Malaysia. All the analysis that have been undertaken have provided the fact that all the
values have significance with the dependent variables and the correlation analysis have
explained that all the variables are positively related and therefore all the variables are have
an impact on customer satisfaction in the entertainment industry in Malaysia.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Table of Contents
Chapter 1: Introduction..............................................................................................................5
1.1 Background of the study..............................................................................................5
1.2 Problem Statement...........................................................................................................9
1.3 Research Gap.................................................................................................................10
1.4 Research Rationale.........................................................................................................11
1.5 Research Aim.................................................................................................................12
1.6 Research Objectives.......................................................................................................12
1.7 Research Questions........................................................................................................13
1.8Significance of the Study................................................................................................13
1.9 Scope of the study..........................................................................................................14
Chapter 2: Literature Review...................................................................................................15
2.1 Definition of key concepts.............................................................................................15
2.1.1 Customer Perceived Value......................................................................................15
2.1.2 Economic Value......................................................................................................19
2.1.3 Functional Value.....................................................................................................20
2.1.4 Social Value............................................................................................................21
2.1.5 Emotional Value......................................................................................................22
2.1.6 Conditional Value...................................................................................................23
2.1.7 Customer Satisfaction.............................................................................................24
2.2 Critical Review of CPV Models:...................................................................................25
2.2.1 Sheth Et Al (1991)..................................................................................................25

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
2.2.2 Rintamaki Et Al (2006)...........................................................................................27
2.2.3 Holbrook perspective of customer perceived value (1994)....................................28
2.2.4 Monroe (1985)........................................................................................................29
2.3 Empirical Studies Malaysia............................................................................................31
2.4 Empirical Studies Global Context..................................................................................32
2.5 Hypothesis......................................................................................................................33
2.6 Summary of the variables...............................................................................................36
2.7Conceptual Framework...................................................................................................37
Chapter 3: Research Methodology...........................................................................................38
3.1 Introduction....................................................................................................................38
3.2 Research Paradigm.........................................................................................................38
3.3 Research Design.............................................................................................................39
3.4 Research Strategy...........................................................................................................40
3.5 Data Collection Method.................................................................................................40
3.6 Data Instrument..............................................................................................................41
3.7 Questionnaire Development...........................................................................................41
3.8 Target Population...........................................................................................................43
3.9 Sample Size and Selection.............................................................................................43
3.10 Data Analysis and Plan................................................................................................44
3.11 Ethical Consideration...................................................................................................46
Chapter 4: Data Analysis and Discussion................................................................................47

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4.1 Introduction....................................................................................................................47
4.2 Demographic Analysis...................................................................................................47
4.3 Normality of the Data Distribution................................................................................51
4.4 Reliability Test...............................................................................................................53
4.5 Data Distribution Graphs...............................................................................................55
4.5.1 Histogram................................................................................................................56
4.5.2 P-Plots.....................................................................................................................56
4.5.3 Scatter Plot..............................................................................................................58
4.6 Descriptive Statistics......................................................................................................63
4.7 Regression Analysis.......................................................................................................65
4.8 Correlation Analysis.......................................................................................................67
4.9 Discussion......................................................................................................................69
Chapter 5: Conclusion, Recommendation and Future Work...................................................71
5.1 Conclusion......................................................................................................................71
5.2 Addressing the Objectives..............................................................................................73
5.3 Recommendation............................................................................................................75
5.4 Limitation.......................................................................................................................76
5.5 Future Research..............................................................................................................76
Reference List..........................................................................................................................77
Questionnaire.........................................................................................................................101

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Chapter 1: Introduction
This section of the paper provides an overview of the background of the research. It
examines the statement of the problem, research objectives and research questions and finally
it will explain the significance, scope and the structure of the thesis.
1.1 Background of the study
For many years the aspect of customer perceived value has been used within the field
of marketing. There has not been extensive level of researches based on this aspect and
therefore a definite explanation on this model is hard to discover. The customer value is the
perceived inclination of the customers for the appraisal of the features of the services and the
products and the performances of the same and the end result that is attained from the use of
the services and the products in order to satisfy the objectives of the customers.
Jha et al. (2017) addressed that customer perceived value has essential significance in
the entertainment industry because of the fact that services should be provided in such
manner so that they are able to serve value to the customers. The attainment of customer
satisfaction is able to determine the effectiveness of the customer perceived model and
customer perceived model is created with the help of the demand that is seen in the market.
The entertainment industry in Malaysia has a crucial role to play as it provides
entertainment services to the individuals in Malaysia and is able to provide leisure and
satisfaction to them. A movie theatre that is even known as cinema that offers entertainment
to the public and with the help of new and thrilling experiences through pictures. Movie
theatres are constructed for commercial purposes that cater to the common public, who attend
the theatres by purchasing tickets. The film is projected with the help of projectors on a large
screen in an auditorium (Eid 2015). In the current scenarios, the theatres have digital
projections and thereby eliminating the need and transport of a physical print of the film.

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The pioneers of Customer Perceived Value addressees the factors have led to the
growth of this model. It is seen that customer perceived value is created by deducting the
customer cost from the customer perceived cost. The customer perceived value pioneers have
been the rise in the level of competition, changes in the tastes and preferences of the
consumers and development of innovative tools and technologies in the economy. The
customer perceived value model is the framework that is taken into consideration by the
companies and the use of this model would lead to the development of the sales and customer
base for the companies. There are various models of CPV that have been used extensively
and the pioneer of the model is Monroe (1979) who has provided the insights of the quality
price of the consumers and this has been the key aspect of the perceived value. One of the
most extensively used models has been the model suggested by Zeithani (1968) who
explained that CPV model to the aggregate evaluation of the product value which is
dependent on the insights of what is received and the ones that are given out.
Customer satisfaction is regarded as the key requirement for a company in order to
attain success and long term profit. The growth of customer satisfaction is a strategic goal for
most of the service industries like in the cinema industry. The marketers and the researchers
have agreed that acquisition of new customers itself does not guarantee the long term success
(Han and Hyun 2015). The acquisition of new customers’ needs to be balanced with customer
development and customer satisfaction strategies in order to optimise their performance and
the value of the shareholders in the long term.
Even though the word has been different, the products that are intangible in nature
that has been supplied by the Malaysian cinemas and all over the globe and can be regarded
as the same. The winning policies that the cinemas can attain are by maintaining satisfaction
of their customers by ensuring the perceived value, quality, customer satisfaction along with
the social, economic, functional, emotional and conditional value among their customers is

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high (Zhuang and Babin 2015). In the current research paper, all the variables are assessed
with respect to their impact on their customer satisfaction.
Hyun and Han (2015) undertook a research with respect to the level of customer
satisfaction in the entrainment sector in Malaysia and accordingly the researcher has
undertaken a sampling process with the help of which the relationship among the customer
satisfaction and the selected variables can be understood. The four variables that have been
taken into consideration are conditional, emotional, functional and social values. A large
sample size was undertaken by the researcher and the results have indicated that customer
satisfaction is positively correlated with functional, social and emotional values and have the
weakest correlation with the conditional value.
There has been another research that has been undertaken based on understanding the
level of customer satisfaction in entrainment industry in USA and the variables that have
been selected involves the emotional, social, economic and conditional values. The reports
have disclosed the fact that customer satisfaction has strong and positive relationship with
emotional and the conditional values but on the other hand there exists a weaker correlation
among customer satisfaction with the economic and social values (Eid, and El-Gohary 2015).
Customer perceived quality are the essential elements that need to be looked upon as
key sources with the help of which the any line of business has the capability to remain
existent in the market and accordingly make profits for themselves. There are several authors
who have provided their views and suggestions with respect to the various aspects which are
essential for a well-constructed customer perceived quality (Raghavan and Ganesh 2015). It
is seen that emotional value, conditional value, social value, economic value and the
functional value are the several aspects that have been agreed by most of the authors and the
authors believe that mind set of the customers with respect to visiting a movie theatre and

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purchasing movie tickets is dependent on the values that have been highlighted and these
values would be dependent in the next section of the paper extensively. Every customer
concentrates more on one of these variables and therefore it is essential which of these values
have more significance on the customer perceived value that together has an impact on the
customer retention and satisfaction. The value that would be identified in this paper needs to
be considered by MBO cinemas in order to enhance their customer perceived value and
accordingly improve the customer satisfaction of MBO cinemas.
MBO Cinemas is a kind of film industry and motion pictures and the company is
registered as a domestic organization. The company since its incorporation has been looking
to provide extensive services to their customer with the help of which they would be able to
increase their market share and accordingly raise their level of profit (Zameer et al. 2015).
This paper would therefore look to assess the various customer perceived variables in
accordance to which an idea can be attained as to which value has key effect on customer
perceived value and thereafter an impact on the level of customer satisfaction that would be
helpful in ascertaining the current scenario of MBO Cinemas in Malaysia.
The most general variables that have been exploited by various authors in order to
assess the CPV model in several countries are the social, functional, emotional value,
conditional and economic values in accordance to the satisfaction among the customers. Most
of the researches have indicated that functional value has a positive effect on the level of
customer satisfaction and perceived value. McColl-Kennedy et al.(2015) has even addressed
that there exists a significant and positive relationship between functional, social, economic,
conditional and emotional values towards the satisfaction among the customers.
With respect to the use of CPV in Malaysia, there have been very fewresearches
based on the customer perceived model on the impact of customer satisfaction in the

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entertainment industry in Malaysia. The variables that are generally used in order to have an
understanding of CPV especially in Malaysia include social, emotional, economic,
conditional and functional value. SERVQUAL model has been found to be another model
that is used to assess the anticipated level of customer satisfaction in accordance to CPV in
the entertainment industry in Malaysia.
CPV model used in the global aspect has even addressed the fact that CPV model in
the other Asian countries have been important. Russo et al.(2016) addressed that most of the
key variables that are known globally with the CPV model has been functional value, social
value, conditional value and epistemic value towards the level of customer satisfaction. The
researches that have been taken place in the Middle East counties have explained that
emotional functional and conditional values have key level of positive influences on the level
of customer satisfaction.
The importance of Customer Perceived Value involves improving the service and the
product quality, making innovative plans and policies with the help of which the companies
are able to maintain competitive edge and even increase their level of customer base. The
maintenance of the customer perceived value model increases the level of customer
satisfaction.
1.2 Problem Statement
There are numerous individuals who have an idea that the resourceful service
providers like the cinemas rely on the deliverance of extensive and finer quality, satisfaction
and value to their customers. It is due to this reason, the Cineplex organizations look to gain
knowledge about the perception of the customers with respect to the quality, brand image,
value and their degree of satisfaction by assessing the feedbacks provided in the on-site

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
(Scherer, Wünderlich and Von Wangenheim 2015). The Cineplex companies have identified
the significance of effective brand image but they have tried to overlook the same.
This research is based on the actual problem of the business that is taking place in
Malaysia in accordance to the Cineplex companies. It is seen that most recently most of the
companies have been renaming their organizations in order to create a brand image and
thereby attracting customers and providing perceived quality and developing the values of the
customers (Bansal and Taylor 2015).
This paper looks to have an understanding of the satisfaction of the customers by
assessing their customer perceived values and gaining an understanding about the several
values like the social, economic, functional, conditional and emotional and thereafter
understanding which variable should be stresses upon more by the Cineplex companies in
order to improve their customer satisfaction. There have been assumptions that the customers
are not satisfied to the Cineplex companies mainly because of the low degree of the perceived
quality and value (Sengupta, Balaji and Krishnan 2015). Therefore, this is the best industry to
examine the framework of customer satisfaction in the context of Malaysia. Therefore, the
issue being examined in this research paper is whether the perceived quality variables have an
impact on customer satisfaction and accordingly measures can be taken in order to provide
better services. This paper would examine the same by considering MBO Cinemas in
Malaysia to the company that would be used as a case study for this paper.
1.3 Research Gap
There exists a gap with respect to the topic that has been taken into consideration
because of the fact certain changes have been made in the original framework with the help
of which the better results can be attained. In accordance to this paper, perceived quality and
price have been eliminated and the emotional and economic values have been added in order

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to have a better understanding of the customer perceived model with respect to the
entertainment industry in Malaysia.
Perceived quality is one of the essential elements that were regarded by the customers
with respect to their level of satisfaction but, in the current time period especially in the
entertainment industry, there has been an observation that emotional values have better role
and economic values determine the frequency of visit of the customers. Therefore, in order to
fill in the gap created by the perceived quality, these two variables have been incorporated in
order to have a better thesis in accordance to this topic.
There has been an observation that price even has a significant value in accordance to
understanding the extent of customer satisfaction. However, in the entertainment industry in
Malaysia, economic and emotional values are rated higher and therefore the consumers are
ready to pay more in order to satisfy these values. It is due to this factor that the variable of
price has been eliminated from the current conceptual framework and emotional and
economic values have been added in with the social, functional and conditional values. The
use of these values can be helpful in the development of a thesis that would provide relevant
and precise result in accordance to the topic of the thesis.
1.4 Research Rationale
The environment of the Malaysian entertainment industry has observed uncontrollable
and significant changes. The degree of the developing services from the entertainment
industry has been added in the entertainment industry. in the previous researches, the research
mainly looked to assess the attributes of the multiplexes, their product and service quality
along with the location and the price that had a connection with the satisfaction level of the
customers. Even in the current time period there have not been sufficient researches in order
to assess the central CPV dimensions and how it has an impact on the level of satisfaction

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among the customers. There have been several multiplexes that have been opening in
Malaysia and they have been functioning in an anticipatory process in order to identify the
satisfaction of the customers with respect to the intangible and tangible process of delivering
services and goods, except for the fact that there is an extensive absence of conformation in
order to understand that the customers are not satisfied adequately. The issues has been by
assessed by Kashif et al. (2015) and stated that in the current competitive entertainment
industry, the demand of the customers are rising with the advent of time and the development
of the service quality that can be compared to the development of the products and incredible
development in the service industry in which entertainment industry has been taking a crucial
position. In this manner the perceptions of the value of the customers has looked upon to be
the key issues that needs to be addressed in the marketing operations. It is in some manner
not easy explaining convenience with respect to the fact that how an individual perceives to
be convenient will not be appropriate for convenient for anyone else. The entertainment
industry has been unable to satisfy the customers and therefore CPV model and use in the
nation will play a key role in the understanding of the values that needs to be taken into
consideration in order to improve the service quality of Malaysian entertainment industry
1.5 Research Aim
The aim of the research is to assess the variables that are related to CPV model and
discover the variables that have key inferences and positive impact on customer satisfaction
in the entertainment industry in Malaysia.
1.6 Research Objectives
By depending on the research background, the common literature and the statement of
the problem, the research objectives have been constructed are as follows:
 To assess the effect of functional value on customer satisfaction

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 To analyse the effect of social value on customer satisfaction
 To examine the effect of emotional value on customer satisfaction
 To assess the impact of economic value on customer satisfaction
 To evaluate the impact of conditional value on customer satisfaction
1.7 Research Questions
By looking at the above research objectives, the research questions that have been
constructed are as follows:
Q1. What is the impact of functional value on customer satisfaction?
Q2. What is the impact of social value on customer satisfaction?
Q3. What is the impact of emotional value on customer satisfaction?
Q4. What is the impact of economic value on customer satisfaction?
Q5. What is the impact of conditional value on customer satisfaction?
1.8Significance of the Study
The service sector in Malaysian economy has a crucial role to play in the development
and the growth process. The extensive presence of the service in the economy of Malaysia is
surely in line with the developmental changes that has been taking place in several developed
economies and there service sector forms a key structural aspect of the economy in
comparison to the manufacturing industry (Ratanavilaikul 2018). With the rise in the
function of the service sector over past few years like transport, finance, real estate,
insurance, entertainment and various other sectors. In the current time period, the Malaysia
has gone into the third stage of economic growth and at this stage; the economic development
is no longer taken forward alone by the manufacturing sector (Matzler et al. 2015). But
economic development is influenced by both the service and the manufacturing sector.

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There have been several researches that have been undertaken on perceived quality,
value and loyalty of the customers but the relationship for the future purpose which has been
customer satisfaction and real service experiences in the perspective of Malaysian still has
absence of confirmation (Shi, Prentice and He 2014). The research has provided effective
knowledge and understanding of perceived service quality and perceived value as forerunner
of satisfaction. It is due to this fact that this research would look to determine which of the
customer perceived value has significant amount of effect on customer satisfaction and
customer retention so that further actions can be taken by MBO Cinemas to concentrate on
these values and improve their existing customer retention base and increase their level of
customer satisfaction.
1.9 Scope of the study
The research is restricted to the MBO Cinemas in Malaysia. This researchexamines
the impact of the various customer perceived values that have an influence on customer
satisfaction and customer retention, which has recently gained special attention in researches
in these current years. The research only concentrates on customer satisfaction and customer
retention in the current time period due time restraint in concluding this research paper.

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Chapter 2: Literature Review
2.1 Definition of key concepts
This section of the paper has the intention of explaining the key concepts and the
suggestions and the advices that have been provided by other researchers. The explanation of
the variables that are related to this topic is helpful in providing an idea about the impact that
customer perceived value have on customer satisfaction and retention (Paul, Mittal and
Srivastav 2016). The past ideas and the knowledge that have been provided by the past
researchers are helpful in completing this research paper in an effective manner.
2.1.1 Customer Perceived Value
This section of the paper will assess and provide an overview of the concept of the
perceived value that has been explained from the perspective of various researchers and
authors (Jha et al. 2017). Thereafter, the dimensions associated with the customer perceived
value provided by various researchers would be explained. At the end, the explanation would
lead to the generation of the approaches that are related to the values of the customers.
Eid (2015) explained that a competitive edge of a company comes from their ability
and capability in order to generate value for their consumers that would surpass the expenses
for the company in order to create the same. This mind-set has not transformed up to now as
a superior consumer delivery of value is looked upon as an essential element to attain and
maintain competitive edge (Askariazad and Babakhani 2015). This has created an increased
attraction for the researchers to assess the creation of value to the customers and the
customers recognise value.
Wakefield and Blodgett (2016) explains that perceived value as the variation among
the evaluation of the customers of all the advantages and all the expenses of an offering and
the perceived substitutes. They expand the concept by explaining the customer perceived

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value as the segment among the overall customer value and the overall costs of the
customers. According to Eid and El-Gohary (2015), customer value is the mind-set of the
customers and how effective the relationship with the supplier is with respect to the benefits
that have been provided and the sacrifices that have been made. Additionally, Kumar and
Reinartz (2016) differentiate two kinds of the advantages which are the core benefits which
comprises of the core needs for a relationship among the suppler and the customer and the
added on benefits that explains the attributes that are distinctly not needed but generate added
value in a customer-supplier relationship. In accordance to the past explanations, the other
researchers explain customer value as an association of the weighted “give” and “receive”
attributes or as a ratio of the perceived advantages and the sacrifices that are subjective to a
specific level (Hsu and Lin 2015). In accordance to the explanations that have been provided
earlier, it is evident that the customer perceived value can be explained as the difference
among the perceptions of the customers with respect to benefits they would attain in
comparison to the expenses they would have to pay (Khan and Fasih 2014).
In spite of the similarity of the definitions that are related to the customer perceived
value, the dimensions of the customer perceived value that is given by the researcher are very
diverse.
Hussain, Al Nasserand Hussain(2015) have recommended the perceived value of the
customers comprises of 5 elements and they are product quality, image and relationship
among the customer and the vendor, service quality and price. Stathopoulou and Balabanis
(2016) explained that the five basic kinds of value that are existent are attained from the
needs of the customers and they have been explained as follows:
 Functional value which is known as the perceived effectiveness that is attained from
the capability to perform their practical, physical and functional purposes.

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 The social value explains the perceived benefits that comes from their image and
representation that is provided by the services and the products.
 The emotional value which is explained as the capability to awaken the feelings like
the security, romance, the passion for guilt or fear, pleasure and eagerness
 Conditional value is a perceived advantage that is acquired in the distinct scenario or
certain specific social and physical context.
Ali and Amin (2014) have segmented customer value dimensions into three segments and
they are:
 Social value which replicates the development of the social individual concept.
 The emotional values are explained as the utility that is attained from the feelings that
is created by the product.
 Functional value which addresses the benefits that is gathered from the quality of the
product, value or the price and performance received for the money.
One of the current researches that has been undertaken by Barsky and Maier (2015) has
recommended the four customer value dimensions and they are:
 Instrumental and functional value that explains the extent to which the product is
effective and has features of functions that have been estimated.
 Expressive and the representative value which explains the extent to which the
customers give the services and the products certain psychological meaning
 Hedonistic or experiential value which is related to the degree to which a product or
a service induces certain specific emotions, experiences and feelings of the
customers

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 Sacrifice and the cost value which is concerned with the costs and the expenses and
the other kinds of sacrifices that may be related with the purchase or the experiences
of the customers.
On the other hand, from the other researchers, Ramanathan, Subramanian and Parrott
(2017) has concentrated on the customer value in distinct aspects and addressed eight
customer value segments: the product quality, processing expenses, time of delivery in the
market, product price, service assistance, individual communication and interactions and
experiences of the suppliers.
El-Adly and Eid (2016) has recommended a specific typology that comprises of five
kinds of values for the customers and they are;
 Net value which is explained as the equivalency among the advantages and the
sacrifices
 Derived value explains the end result of the experiences and uses
 The value of marketing explains the attributes of the products as perceived from the
point of view of the customers
 The sale value explains the value as a decline of sacrifice or the expenses
 Rational value which is the assessment of the fairness and authenticity in the balance
of advantages and the sacrifice
It is pertinent that the value of the customers can be segmented by different dimensions. It
is even reliant a lot on the market which kind of typology is going to be incorporated (Jiang,
Jun and Yang 2016). The customer value and the operations that are undertaken by MBO
Cinemas have direct relations and additionally the industry specifications needs to be given
when assessing what the customers look to be valuable.

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MBO Cinemas is unique and different from value point of view of the customers. The
core or the basic needs for the industry is similar to the other industries but add on advantages
are very distinct for the industry and especially for the company. Barsky and Maier(2015)
cited that organizations should look to concentrate more on giving out distinct added value
more than enhancing the core advantages in order to improve the customer value and
satisfaction.
It is essential for the entertainment and the cinema industry to have knowledge about
what the customers are demanding and how they look at the value and what are the add on
benefits that can be offered to the customers.
2.1.2 Economic Value
The economic value plays a key role in the development of the perceived value which
can thereby have an impact on the customer satisfaction and retention. The economic value
refers to the financial and the economic effects, the entertainment industry has on the overall
economy of a country. Chao, Wu and Yen (2015) addressed that entertainment industry has
an essential role to play in the development of the economy and contributes a huge margin to
the economies of the developed countries. Loureiro and Sarmento (2017) cited that capital,
regulations, labour and the market are the key pillars that are required to function in a
cooperative manner in order to facilitate the unregulated development and boost the creation
of value in the innovative economy in the entertainment and media industry. The
development of this sector has indicated a huge impact in the economy of a country. The rise
in the entertainment industry has led to the rise in the capital and the development has been
dependent on the rules and regulations that has been constructed by the government of
various nations (Dovaliene, Masiulyte and Piligrimiene 2015).

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2.1.3 Functional Value
The functional values are all about interpreting the functional advantages of the brand
and the product that is offered along their cost, value and quality. The price of the service and
the product that is being offered plays a key role in the development of any industry.
PandžaBajs (2015) debated that functional value is associated to the performance of
the brand like for instance how the product or the service is able to satisfy the functional
needs of the customers. The functional value is an effective motivator when the purchase of
the decisions are rational along with the financial quality of a product generates reliability
like the entertainment and the viewing experience that is associated with the life and
satisfaction level of the customers (Vera 2015). In order to provide services, the
entertainment industries are in the need of the tangible and the intangible characterises that
can be utilised to justify their service providing decisions and the importance of the
functional values, like the performance and the quality of the products and the services that
have been offered and this has been confirmed by several researches (Rahi 2016).
Furthermore, when combating with the product and the service offerings the management of
the entertainment industries are more obligated for their selections, therefore they look to pay
more attention to the functional values like the economic factors.
On the other hand, Saleem, Zahra and Yaseen (2017) debate that the product and
service reality and the buying scenario is that the customers are likely to assess the functional
values. On one hand, the functional values of a company are being assess against the demand
of the customers in a logical and practical manner and on the other hand the customer is
assessing the meanings and the values that is incorporated in a brand in the emotional and a
perceptive way. Srivastava, Naik and Narula (2018) even debates that the consumers respond
to both the individual and the economic factors which is line with the fact that functional
values are significant and the companies that are known provide extensive level of the

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
functional benefits with the help of which the consumers and the society as a whole can gain
benefit.
2.1.4 Social Value
The social value refers to the values that can benefit the society and improve their
lifestyle and level of satisfaction. Shin (2015) addressed that the societal values are
fundamental for any individual and the entertainment and the cinema industry provides
luxury and satisfaction with the help of effective screening of various local and international
movies. The movies that are delivered in the economy generally have certain social
information that can provide a lesson to the society (Subramanian et al. 2014). The
entertainment and the cinema industry provide extensive services like the comfortable seats
and new and wonderful viewing along with the services like food and other services that
would improve the lifestyle of the community and the individuals.
The social values are essential as the society would accept a business and their
services and products based on the benefits and the values they provide and therefore every
one of the companies look to construct plans and policies in accordance to these values
(Saleh, Ebeid and Abdelhameed 2015).
Entertainment provides the customers and their audience the relief for any kind of
work and labour. It is helpful in providing distraction and an emotional discharge from the
daily complexities and frustrations that are faced by the individuals. Verhoef and Lemon
(2015) cited that in the areas where entertainment has a strong social character, it can
generate a senseless of benefits and opportunities. Chai, Malhotra and Alpert (2015)
expressed that the one should not concentrate on the volume of the entertainment but should
look to concentrate on the social and individual value of the services provided by the
entertainment businesses. The audiences that are coming to visit the Cineplex are able to

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
create social connections and thereby is able to generate a sense of mutual assistance
belongings and shared experiences with the social values (Cha, Yi and Bagozzi 2016). The
various kinds of discounts and offers that are given to the customers who are visiting the
multiplexes so that a social value is created and the customers understand that they are
special for the companies. There exists adverse impacts of the social values as well and
therefore it is essential to assess and monitor the values from time to time so that there are no
instances of the misunderstandings and the grievances among the individuals and the society.
2.1.5 Emotional Value
The emotional values have been looked upon as the most suitable one process for the
most of the industries and it is seen that the values are inclusive of the credibility, peace of
mind, security and trust. In case of several products that are technology base, it is seen that
the attribute of the trust intrinsic in the brand name that performs as the key differentiator and
the sales closer (Bahri-Ammari and Bilgihan 2017). The various kinds of emotions are
associated to the various kinds of behaviours but the key aspects of the emotions are that it
has direct and immediate effect on the behaviour of the customers. Leong et al. (2015) have
debated that the organizations should look for sustainable processes when adding the values
to the services or the products with the most general way of adding value is to enhance the
features of the tangible product, but this general brand or the approach of the product has
various restrictions. The services and the products become auto-engineered which can lead in
the customer looking for substitutes that would effectively satisfy the desires (Lee et al.
2017). The strength of the brand or the product is dependent more on the emotional values
and the developments in the relationship among the buyers and sellers, image and
communications that are more complex and challenging to attain the bit can even have more
value in the long term.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
The researches that have been based on the business markets have explained the
intangible attributes like the emotional values like the image and the reputation which can
have equivalent and greater significance than the tangible attributes when it comes to the
purchase decisions (Ali, Amin and Ryu 2016). The consumers are social and human not
measuring and are impersonal and they respond to the reason and the emotions. The attribute
that is product related can provide a time restricted competitive edge and therefore it is
essential to just fight with the quality associated attributes.
The values can be emotional and functional bit the extensive sense of the added value
is an emotional type and the emotional feelings need to be backed up by the rational elements
like the functional values and the success of a brand is dependent on the emotional as well as
the functional values. Han et al. (2018) even contributes to the view that an organization
cannot create suitable competitive edge by only relying on the functional values like the
performance, price and quality. It is because of this that the organization is completely
concentrating on combating with the lowest price and it will gradually be overpasses by any
other competitor that would be offering even lower prices (Zhang, van Doorn and Leeflang
2014).
2.1.6 Conditional Value
The conditional value refers to the statements and the policies that would be
sustainable and thereby would be able to enhance the operational activities of a company.
The perceived values are essential that is continues for a longer period of time and thereby is
able to enhance the level of customer satisfaction (Alshibly 2015). Customer satisfaction and
retention of the customers play a key role and therefore the incorporation of the same with the
help of effective level of customer oriented plans and policies. The conditional value are
looked upon as the essential features and the conditional values are related to the emotional,
functional and social values as well. The development of these values enhances the tangible

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
and the intangible attributes and thereby is able to understand the price, quality and the
volume of the services and the products. Marchand et al. (2017) cited that the conditional
value of the entertainment industry is related to providing extensive and quality services to
the society and their customers and the conditional value is related to understanding the needs
and the preferences of the consumers and accordingly create plans and policies that would be
ongoing and is long term in nature (Oh and Kim 2017).
2.1.7 Customer Satisfaction
This section of the paper has assessed the independent variables and now customer
satisfaction will be assessed that would be considered as the dependent variable. According to
Jain (2015), satisfaction is the feelings of an individual in accordance to the disappointment
and the pleasures that comes out after making a comparison of the perceived performance of
the services and the products in association to the expectations of an individual. The
researchers even address that a customers is unhappy and dissatisfied if their expectations are
not satisfied with the performance; satisfied in case of the scenario when the performance
matches with the desires of the customers or if they are increasingly satisfied and delighted if
their expectations are surpassed by the performance. Sweeney, Danaher and McColl-
Kennedy (2015) address satisfaction as the feelings of the customers in response to the
assessments of the experiences with a product or a service. Cheung and To (2017) look at
satisfaction as the level to which the company satisfies the demand, desires and needs of the
customers.
Hsiao, Chang and Tang (2015) stated that customer satisfaction can be assessed by a
number of processes. Customer satisfaction can be understood with the help of frequent
surveys. The assessment and the monitoring of the rate of the customer loss is also one of the
processes that could be undertaken in an effective manner by interacting with the customers
who have been visiting in order to gain the product or the services or may have changed their

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
seller in order to learn the differences and better quality (Rivera, Bigne and Curras-Perez
2016). The experiences and the satisfaction level of the customers can be enhanced with the
help of taking feedback and understand the grievances and the satisfaction level of the
customers so that changes can be made with the help of which the service quality can be
enhanced and accordingly lead to rise in market share and customer base.
However, in spite of the fact that there are availability of several method of customer
satisfaction, customer survey is used in order to assess the level of customer satisfaction. It is
essential to ask the precise question in order to understand the level of customer satisfaction
within the market (Manhas and Tukamushaba 2015). The cinema and the entertainment
market addressees and the researchers discusses on customer satisfaction on the basis of the
common level of satisfaction in accordance to the services provided by understanding the
expectations of the customers with the service attained and the satisfaction in cooperation
with the seller.
2.2 Critical Review of CPV Models:
This part of the chapter will assess the customer perceived model in accordance to
various researchers and their point of view and statement regarding customer perceived
model.
2.2.1 Sheth Et Al (1991)
Among the all the perceived value framework, Sheth et al (1991) is regarded to be a
standout amongst the most critical contributions to the investigations of CPV (Leroi-Werelds
et al. 2014). Sheth et al. (1991) expressed that buyer purchasing decision includes five values
of consumptionand that are inclusive of the emotional, functional, conditional, social and
economic value and each valueshave essential role to play in the purchasing decisions of the
customers (Mullins et al. 2014). As per (Sheth et al., 1991), functional values originate from

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
product inherent capacity for utilitarian, physical and functional performance. Social value is
looked upon as the perceived utility accomplished from one or more than one groups of
society. The emotional value contacts with external segments of the consumption with
respect to capability of the product to construct efficient feelings and sentiments. Epistemic
esteem is characterized as a capacity of a product to develop interest, and give novelty or
fulfil the requirement for information. At the end, conditional value emerges from others as
the result of the circumstance or set of scenarios confronting the decision maker.
Furthermore, the framework by Howard and Sheth was disclosed in the year 1969 in order to
exhibit the behaviour of the purchaser and in this way making it easier for customer to
undertake a decision (Li, Liu and Li 2014). This frameworkhas broadly utilized models for
the research paper and there are four essential variables, which areinput factors, hypothetical
developments, external variables and output variables.
The framework is worthwhile as it has made a noteworthy contribution in gaining
knowledge about thevariables that affects the behaviour of the customers (Gamboa and
Goncalves 2014). It additionally makes an endeavour to investigate the outside features of the
behaviour of the consumers, their responses and point of view that can't be subjected to
coordinate perception (Chai, Malhotra and Alpert 2015). In any case it has been scrutinized
as having a non-ability of key distinction amongst exogenous and other related factors (Wu
and Liao 2016). The factors are additionally hard to assess which additionally makes the
framework complex and hard to understand.
It can be assessed that Sheth framework is probably going to give a profound
knowledge about how perception of the consumers change while purchasing entertainment
tickets in Malaysia at the three levels of the process of decision making, which are limited
and extensive solving of the issues along withreutilized reaction behaviour. In any case, as

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
indicated by Sheth et al (1991), there are four factors that are appropriate to assess CPV of
entertainment industry, for example, social, emotional, epistemic and functional values.
2.2.2 Rintamaki Et Al (2006)
In this model the researcher has looked upon hedonic and the utilitarian dimensions to
be the key aspects of customer behaviour. The researcher has even looked upon the social
dimension as one of the essential motives for customer behaviour. From the point of view of
the customers, gaining knowledge about their behaviour forms the foundation for gaining
competitive edge and their positioning (Díaz 2017). The customer value propositions have
become key tools for the purpose of strategic and differentiation goal-setting. The recognition
of the proposition of customer value which is actualization and competitive is the initial step
and controlling it on the basis of results that are measurable. The researcher even addressed
value as an understanding, which is demonstrated over a period of time and across the
channel boundaries and information reliant value creation methodically filers and combines
the contextual data on the prices that are acceptable, solutions that are customisable, preferred
experiences to assist the pre-purchase of the customers and the use of the processes.
Even though there are no predominant explanations for customer perceived value, the
researcher agrees on certain two points and they include that any customer perceived value
should be established from the point of the view of the customers and it should look to have
an essential strategic role within the company in search of gaining competitive edge. By
concentrating on creating competitive edge with the help of the customer value creation, the
researcher explained the customer perceived value as an encapsulation of a decision related to
strategic management on what the organization believes their customer value to be most and
what it is capable of in delivering in a manner that would give out competitive edge (Yoo and
Park 2016). While customer value is ascertained by the subjective point of view of the
customers and the assessment of the overall experiences of the customers and the competitive

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
edge attained is ascertained by the utilisation and capabilities of the organization in order to
generate a combination of values that the is appreciated by the customers and that even
affords the differentiation from the extent of competition. Therefore, according to the
researcher, an effective customer perceived value should:
 Raise their benefits or reduce the compromises that the customer perceives as precise
 Develop on the competencies and the resources that the organization is able to make
use of in an effective manner than the competitors
 Looked upon to be different from the aspect of competition
 Leads to competitive edge
The researcher has not taken into consideration the external factors that are related to the
customer perceived value and the mind-set of the customers and therefore lacks certain
criterion. The concentration on these aspects would be helpful in developing the research
based on customer perceived value.
2.2.3 Holbrook perspective of customer perceived value (1994)
Holbrook proposed a framework in order to have effective knowledge about how purchasers
behave on a given circumstance. The general idea of CPV according to Holbrook can have a
more profound understanding only when it is comprehensive of the relation between
purchaser and the services and the products offered by an organization (Morgeson III,
Sharma and Hult 2015). According to the framework, there exist some consumption
trendsindicated by the purchasers that can effectively clarified by the experiential approach as
opposed to data processing technique. The approach explains that there can be an inherently
satisfying communication with service of a product. Furthermore, the data seeking operation
during the time of shopping associates with the utilisation of the sensory stimulation that is
followed by fulfilling the curiosity in comparison to discovering the ability of a product

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
(Agyeiwaah et al. 2016). The framework has additionally laid stress on the hedonic, symbolic
and the aesthetic factors of consumption in order to guarantee that experiences of the
customers is a procedure that is coordinated towards achieving emotions, fun and dreams
(Berezina et al. 2016). This theory has additionally discovered a solid relationship with the
advantage or utility that is attained by the customers for the cash or the expense that is spent
by them (Stathopoulou and Balabanis 2016).
The model further measures the productvalue not in the said setting as well as for the
substitute offering of the product with which the purchasers are familiar with Ali (2015).
Consequently this gives enough opportunity to purchasers towards decision making and
leaning toward one choice over the other Ali (2015). The model has additionally been found
to positively affect the general fulfilment level and more dedication from the customer
(Murali, Pugazhendhi and Muralidharan 2016). The model has however been observed to be
less appropriate in those conditions when the customer changes their inclination over a given
timeframe (Zakaria et al. 2014).
According to the disadvantages and the advantages that have been explained earlier it
can be assessed that the given model is best appropriate to quantify the CPV that is fixed with
entertainment services offered by the private companies of Malaysia (Ladhari, Souiden and
Dufour 2017). According to the favourable position said above customers are relied upon to
get an opportunity to contrast the tickets and the other accessible choices (Dabestani et al.
2016).
2.2.4 Monroe (1985)
Monroe addressed the relationship framework of price, quality and perceived value
which is a key attribute in the process of making purchasing decisions that is initiated by the
consumers. The researcher has even addressed that any purchaser will buy only that product

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
that would bring the highest perceived value. According to the theory of utility the chances of
the intention of purchase will develop the consumers to gain additional benefits rather than to
pay for a product (Khan and Fasih 2014). The framework has even proposed a gap that is
existent among the perceived and the actual pricing of a product and thereby making it key
for the consumers to understand the prices that have been shown in the product. An
acknowledgement is even needed for the non-monetary prices like the time and effort. It has
even advised that the intended quality is a measure that can be assessed while on the other
hand the perceived value can be considered as a trade off that undertakes between the
affordability and quality with respect to the perceptions of the consumers.
The framework is beneficial on account of the fact that it has given effective link
among the quality and price of the services and the product offering which has not been
addressed by other researchers. Additionally, the framework has provided an opportunity to
the researcher for observing the relation among the price perceived quality from various
perspectives (Wu et al. 2014). On the negative sense, Monroe stressed on the aspect of prices
as the variable for assessing the perceived value of the consumers. The model does not even
have information on the characteristics of the services provided to the consumers by
concentrating on the features like the price, benefits and the risk among everyone else.
The framework is in accordance of assessing CPV for the entertainment industry that
are provided by the companies in Malaysia. But because of the shortage of the variables other
than price it has been tough to assess the total notion of the customers towards the services
offered by an organization. The framework as a whole would assist the consumers in
undertaking a decision regarding purchase as they would purchase that item that is perceived
highly by theconsumers (Zhang et al. 2017). Then they are probably to evaluate the money
paid and the service of the entertainment received by the consumers on that return.

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2.3 Empirical Studies Malaysia
The researches undertaken by Zhang, van Doorn and Leeflang (2014) tried to find out
consumer perceived quality, perceived risk and perceived value towards the decisions related
to purchase in the entertainment industry in Malaysia. A larger sample size has been used and
sample processes that are used are inclusive of the normality test, Pearson correlation,
convenience sampling, hypothesis and multiple regression tests. The variables that are
utilized by the researchers are seen to be perceived risk, perceived value and perceived
quality. The outcome that has been attained from Pearson correlation assessment has
indicated a vital positive correlation among the purchasing decisions of the buyers with these
selected variables. Furthermore, the multiple regression assessment has indicated the power
of the relationship among the purchasing decisions along with the three independent
variables. In addition, the hypothesis has even explained that perceived value, perceived
quality and perceived risk have a key relationship with the purchasing decisions when the
consumers are looking to go for a movie in Malaysia.
There have been researches undertaken by Chen, Batchuluun and Batnasan (2015)
with respect to the customer satisfaction, service quality in the entertainment industry in the
Malaysia by taking assistance of the SERQUAL framework. A bigger sample size has been
used and random sampling method was undertaken. The variables that were taken into
consideration by the researchers were empathy, reliability, customer satisfaction, assurance,
responsiveness and tangibility. The results that were attained with respect to this research
have indicated that empathy has been correlated positively correlated with customer
satisfaction and on the other hand, customer satisfaction has indicated the weakest correlation
with tangible. The analysis of the gap reveals that the perspective of tangibles has the lowest
mean difference among the perceptions and the expectations of the services.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Hyun and Han (2015) undertook a research with respect to the level of customer
satisfaction in the entrainment sector in Malaysia and accordingly the researcher has
undertaken a sampling process with the help of which the relationship among the customer
satisfaction and the selected variables can be understood. The four variables that have been
taken into consideration are conditional, emotional, functional and social values. A large
sample size was undertaken by the researcher and the results have indicated that customer
satisfaction is positively correlated with functional, social and emotional values and have the
weakest correlation with the conditional value.
2.4 Empirical Studies Global Context
Amin (2016) undertook a research on CPV related with entertainment and customer
satisfaction in UAE. A large sample size was selected and multiple regression, correlation
and descriptive statistics used for the purpose of analysis. The variables that have been
selected are social, epistemic, emotional, functional and conditional values. The results have
shown that there exists a string and positive correlation of CPV with respect to customer
satisfaction in the entertainment industry in UAE. The descriptive statistics have indicated
that perceived value in the entertainment industry has the highest correlation with the
epistemic and emotional values and on the other hand has the lowest motivation with respect
to the social values.
There have been researches that have been undertaken by Söderlund and Colliander
(2015) in order to examine the factors that have an impact on the level of customer
satisfaction and brand loyalty in the entertainment industry in the country of India and the
model that has been used involves the ESCI framework. The variables that have been used in
the assessment of the relationship involve the trust of the customers, expectations of the
customers, perceived quality, perceived value and satisfaction. The researches have even
indicated that literacy rate of the customers have an essential role to play in the extent of

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
customer satisfaction. The results have even shown that there exists a positive relationship
among the level of customer satisfaction and the expectations of the customers.
Brand loyalty is seen to be highly correlated with the social, conditional and
emotional values but has a weaker correlation with the economic values. These researches
have been fundamental in the development of the ideas with respect to the variables that have
close relationship with customer satisfaction in the entertainment industry.
These are the authors, who in their studies have provided evidences that are
fundamental for understanding the measures that are taken globally in order to satisfy the
customers with regards to the entertainment industry and thereby develop the industry as a
whole.
2.5 Hypothesis
Functional values and Customer Satisfaction
Qiu et al.(2015) explained functional values as the perceived utility that is attained
from the capacity of the alternative for the physical and functional performance and assessed
a profile of the selected attributes. The functional values have been the essential driver of the
choice of the consumers.
With respect to this value, it is essential for the entrainment industry to stress on
enhancing the functional elements of the entertainment industry and it is seen that perceived
quality is more efficient after completing the anticipations, rather than the other dimensions
with respect to customer satisfaction. There have been several researches that have explained
that quality has positive effects on CPV, which can be enhance the extent of customer
satisfaction and the brand loyalty for the companies. Therefore, it can be said that functional
values have positive impact with the level of customer satisfaction.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
H1: Functional value has positive significant impact on customer satisfaction.
Social Values and Customer Satisfaction
Sheth et al. (1991) explained social value to the perceived utility that has been
attained from the association of a product with a distinct demographic, social and cultural
group. These choices have been observed with respect to the entertainment services and a
product associated with the entertainment industry, which needs to be shared is driven by the
other social values. The perceptions of a customer with respect to the value of the products
are associated with the features of the social environment like the norm or the culture that is
in place where they reside (Hsu, Chang and Chuang 2015). The social studies are the studies
with respect to the symbolic values, reference groups, social class conspicuous consumptions
and the advices given by the leadership.
Rahimi and Kozak (2017) explained that Malaysia is regarded as an increasingly
collective society and social value has positive effect on the collectivism culture. There have
been past researches that have given empirical assistance for the social values, which has key
level of influence on the extent of customer satisfaction. On the other hand, the precious
studies have discovered that social value has the lowest amount of effect on the choices of the
consumers. This indicates that social value has positive impact on the extent of customer
satisfaction
H2: Social value has positive significant impact on customer satisfaction.
Emotional Values and Customer Satisfaction
Lemon and Verhoef (2016) addressed that emotional values is related with the
external aspects of the consumption with respect to the capability of a product in order to
create feelings. The extent of satisfaction and dissatisfaction of the consumers on the product

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
is in relation to the purchasing behaviour of the customers and the rise in the level of emotion
indicates rise in the emotional bond. The increase in the level of satisfaction would determine
the rise in the level of purchase for the services and the products and vice versa.
Ramseook-Munhurrun, Seebaluck and Naidoo (2015) discovered that the emotional
value of the customers has the biggest effect and has a key role to play with the satisfaction
level of a product. This shows that there is a positive relationship among customer
satisfaction and emotional value. Hence, it is essential for the entertainment industry to take
steps and measures with the help of which the emotional desires of the consumers can be
understood and accordingly additional attention can be given in these aspects. The emotional
value is considered to be higher than the prices, which drives the behavioural attitude and
therefore price is not looked upon as the bigger factor. the results have indicated that there
exists a string and positive relationship among the emotional value and customer satisfaction.
H3: Emotional value has positive significant impact on customer satisfaction.
Epistemic Value and Customer Satisfaction
This value is explained as the ability of a product to awaken curiosity and is able to
satisfy the desires for knowledge. Epistemic value is the most key estimator among the
consumption values. Knowledge plays a vital role in this value in order to understand the
behaviour of the consumers. The purchase of a ticket will be dependent on the familiarity of
the brand among the customers and the eagerness to gain more knowledge about the services
that have been offered to them (Hussain 2016). Knowledge is one of the essential reasons that
have an impact on the purchasing decisions of the customers and thereby recognizing the fact
that customer satisfaction and epistemic value has directly related and therefore epistemic
value has positive significant impact on customer satisfaction.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
H4: Epistemic value has positive significant impact on customer satisfaction.
Conditional Value and Customer Satisfaction
This value arises from the ability of a product or service to provide social and
functional values temporarily in a distinct scenario and hence is reliant on the specific
situation that is faced by the decision maker. This value has positive impacts on the attitude
of the customers among the people who visits the Cineplex and the ones who don’t. Lu et al.
(2015) have explained that conditional value has minimum amount of relationship with
customer satisfaction but by assessing the previous researches undertaken by Ponte, Carvajal-
Trujillo and Escobar-Rodríguez (2015), it is seen that conditional value is regarded as the
second weighted value that is related to consumer satisfaction. This indicates that conditional
value has positive and significant impact on customer satisfaction.
H5: Conditional value has positive significant impact on customer satisfaction.
2.6 Summary of the variables
Variables Title Of Study Sources
Economic
Value
Identifying competitive
customer value propositions in
retailing
Rintamaki et al.(2006)
Functional
Value
A Cognitive Model of the
Antecedents and Consequences of
Satisfaction Decisions
Sheth et al. (1991)
Social Value A Cognitive Model of the
Antecedents and Consequences of
Satisfaction Decisions
Sheth et al. (1991)
Conditional
Value
Relationship marketing in
consumer markets: Antecedents
Sheth et al. (1991)

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
and consequences
Emotional
Value
Why we buy what we buy: A
theory of consumption values
Sheth et al. (1991)
2.7Conceptual Framework
Figure 1: Conceptual Framework of CPV and its Impacts on Customer Satisfaction
(Source: As Created By the Author)

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Chapter 3: Research Methodology
3.1 Introduction
The methodology section has the intention of addressing to the reader the kind of data
that would be used by the researcher in order to undertake data analysis of the collected data
and thereafter gather effective results that would be useful in the completion of the research
paper. This section of the paper would explain the research paradigm, research design,
research strategy, method of data collection, data instrument, development of questionnaire,
target population, sample size and sampling process, data analysis plan and ethical
consideration.
3.2 Research Paradigm
The research paradigm is looked upon as the set of general agreements and beliefs
that is shared among the researchers with regards to how the problems should be addressed
and understood. The research paradigm looks to address the ontology, epistemology and the
methodology with accordance to which the researcher would explain the reality of
undertaking this paper (Kim, Wong, Chang and Park 2016). With regards to this paper, it is
seen that the ontology refers to the customer perceived value that has an impact on the
customer satisfaction and retention. The reality that is present in the current environment of
Malaysian Cineplex industry has been satisfying their customers with the help of various
processes and tools. There are several values that are existent in the model of customer value
and epistemology of the paper addresses how the reality of knowledge can be understood
(Dillon and Wals 2016). The functional, emotional, conditional, economic and the social
values are the several factors that are related customer perceived model and therefore it is
essential that the researcher understands all the values extensively and accordingly gathers
data that would be related to these values (Choy 2014). The research philosophy therefore
that would be used in this paper is positivism philosophy. Positivism philosophy explains the

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processes that are existent in globally and accordingly all the associated variables are
explained in a positive manner so that precise data can be used for the purpose of data
analysis in this paper.
The approach of the methodology would address the kind of approach that would be
undertaken by the researcher in order to gather the data and accordingly would be helpful in
the construction of the paper. The research paradigm has been helpful in determining the
steps actions and the processes that would be taken by the researcher in a constructive and
systematic manner so that all the precise data can be gathered and accordingly results can be
taken out of the same in order to attain the precise results (McCusker and Gunaydin 2015).
The paradigm even explains the methodology that would be used in order to select the
collect the data and undertake analysis of the data (Loutfy et al. 2016). In accordance to this
paper, the researcher would look to collect quantitative data and undergo quantitative data
analysis process as the data that would be collected would undergo several assessments and
evaluations and accordingly the results that are desired by the researcher can be attained.
3.3 Research Design
The research addresses the kind of design that would be used by the researcher in
order to construct a base and a process with the help of which the data that would be collected
would be explained and accordingly an idea can be attained that would be useful for the
analysis of the data and accordingly gain conclusive results (Bauer 2014). There are several
designs that the researcher can make use of and it is on the mind-set of the researcher to
select the design that is related to the research paper. There are several designs that are
available to the researcher and the designs are exploratory research design, descriptive
research design and explanatory research design (Murali, Pugazhendhi and Muralidharan
2016). Accordingly, the researcher has selected descriptive research design as the researcher

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
thinks that the data that would be collected would undergo a descriptive analysis process in
order to bring the results that is ideally demanded by the researcher in order to complete the
research paper (Saunders and Bezzina 2015). The descriptive research design explains
explicitly all the responses that would be gathered and accordingly come out with the results
and the ideas that would be instrumental for the completion of the paper. This paper tries to
evaluate the value that significantly has an impact on the customer satisfaction and retention
in accordance to MBO Cinemas and therefore this design would ideally meet the objectives
of the research paper.
3.4 Research Strategy
The research strategy or approach of the methodology would address the kind of
approach that would be undertaken by the researcher in order to gather the data and
accordingly would be helpful in the construction of the paper. There are two kinds of
approaches that are available to the researchers and they are inductive approach and
deductive approach (Hammersley 2017). The inductive approach addresses the use of
models, frameworks and theories that are new and have been constructed in order to complete
this paper. On the other hand, deductive approach addresses and explains the models,
frameworks and theories that have been used earlier by other researchers and therefore this
approach makes use of the existing process and approaches (Adhariani, Sciulli and Clift
2017). The researcher in this paper has implied the deductive approach as the researcher
would be gathering data from the available resources and will make use of tools and
techniques with the help of which the paper can be completed properly.
3.5 Data Collection Method
The process of data collection addresses the process or the method that would be
applied by the researcher in order to collect the data and undertake steps that would be
helpful for the completion of the paper and accordingly attain the results that are desired

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
(Denzin and Giardina 2016). The researcher in this paper has looked to collect primary data
as the objective of the thesis has been to understand the impact of CPV in the level of
customer satisfaction in the entertainment industry. It is seen that entertainment industry is
very much competitive and tastes and preferences of the consumers change and therefore it is
vital to gather new and fresh data and assess the same with the help of the statistical tools
(Ingham-Broomfield 2014). In this manner survey analysis has been undertaken in which the
questionnaires are constructed and thereafter survey is undertaken in the outlets of MBO
Cinemas. The method of data collection varies and in this scenario, the researcher has chosen
this process as they feel that this is the best way to interact with the customers and attain their
answers and views in the most cost effective manner (O’Brien et al. 2014).
3.6 Data Instrument
There are several instruments that are available to the researcher in order to collect the
data and the selection of the data instrument is dependent on the kind of data that would be
used in this paper. Accordingly, as primary data would be used in this paper and primary data
would be collected from the customers who visit MBO Cinemas, it is seen that survey
analysis is the best mode (Floh et al. 2014). The process of interview is tiring and consumes a
lot of time, but survey analysis is cost effective and less time consuming and this process is
ideal for this paper because of the fact that the respondents can answer the questionnaire at
any point of time and thereby would be able to express their point of view without any kind
of influences (Clement et al. 2015). The questionnaire survey analysis comprises of close
ended questions and thereby motivates the respondents to answer all the questions effectively
without revealing their identity (Scott Jones and Goldring 2015).
3.7 Questionnaire Development
The type of questionnaire that would be developed would determine the kind of data
that will be collected in this paper. The questionnaire has been developed by looking at all the

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
values that have been explained in the earlier section of the paper and accordingly take plans
and policies so that the aspects accordingly to the values can be created in the questionnaire
(Bozkurt et al. 2015). The questionnaire comprises of close ended questions and the
questionnaire has been segmented into various sections in which the first section comprises
of the demographic questions and the other sections consists of the questions with regards to
each and every customer perceived values that have been addressed in the literature review
(Sarma 2015). The questionnaire that has been constructed would be constructed in the
Google form for the respondents who would be answering through electronic mail and
therefore the link for the Google form would be forwarded to the respondents and the
respondents would answer in that link (Munn et al. 2014). This eases the work of the
researcher too as they gain access to all the answers in one place.
Variables Factors Sources
Functional Value 1. Price (Murali, Pugazhendhi,S. and
Muralidharan 2016)
2. Picture (Kim et al. 2015)
3. Sound (Floh et al. 2014)
4. Ambience (Berezina et al. 2016)
5. Latest blockbusters (Zakaria et al. 2014)
Social Value 1. Word-of-mouth (Lien et al. 2015)
2. Family and Friend (Gu and Ye 2014)
3. Social status (Dwivedi 2015)
4. Spending of time with
family and friends
(Chen and Wang 2016)
5. Group Activity (Lien et al. 2015)
Emotional Value 1. Feel happy (Chen 2015)
2. Feel exciting (Chen 2015)
3. Feel proud (Zakaria et al. 2014)
4. Feel relaxed (Chen 2015)
5. Emotional support (Leroi-Werelds et al. 2014)
Economic Value 1. Pay for the movie (Berezina et al. 2016)
2. Pay for food and (Wu et al. 2014)

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
beverage
3. Pay for better sound and
picture
(Chen 2015)
4. Special features (Chai, Malhotra, and Alpert
2015)
5. Willing to travel (Wu et al. 2014)
Conditional Value 1. Blockbuster movie (Gu and Ye 2014)
2. Discount (Leroi-Werelds et al. 2014)
3. Promotion (Chen 2015)
4. Near the house (Chen 2015)
5. Free time (Chen 2015)
3.8 Target Population
The researcher has the initial aim of selecting the population that would be targeted in
order to attain the results that is desirable in this paper. This paper is associated with
gathering responses that would be related to answering the customer perceived value and its
impact on the customer retention and customer satisfaction and therefore in this paper the
researcher has chosen the customers who are visiting MBO Cinemas. The customers are the
main concerns for this paper and therefore taking their responses from themselves would be
helpful in attaining the precise results for this paper (Brown 2015). The researcher has
therefore observed the customers who visit MBO cinemas in different locations and thereafter
take steps and actions with the help of which they would be able to attain effective results.
3.9 Sample Size and Selection
The selection of the sample is another crucial aspect as according to the sample, the
researcher would be able to understand the kind of results that are desirable. The researcher
has a chosen a sample size that comprises of 200 respondents because of the fact that the
paper has a limited time frame and collecting data from 200 respondents would be ideal for
them because the data would be collected swiftly and precisely and the results that would be

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
obtained would be precise and effective and thereby the research paper can be completed in a
precise manner (Van den Bergh 2015). The researcher in this paper has undertaken random
sampling as the researcher has chosen respondents in accordance to his own wish and has
approached any customer randomly who are visiting the cinema halls.
3.10 Data Analysis and Plan
In this part of the study the collected data were analysed through special scientific
techniques which include the analysis of data using analytical statistics. This section of the
study is an important part of the research as it evaluates, explains and delivers data to reach to
a meaningful conclusion based on given conditions (Kim et al. 2016). The collected data was
first transformed into a Microsoft Excel spreadsheet for proper maintenance and
understanding of the data. These data were then analysed with the help of by “Statistical
Package for Social Sciences” also known as SPSS. SPSS is statistical software by the help
which relation between different variables are analysed and studied by choosing specific
method of analysis. The different methods used for the analysis of the collected data are
normality test, reliability test, descriptive analysis, correlation analysis and regression
analysis (Lin, Chen and Filieri 2017).
The test of normality and reliability was first performed by the researcher on the data
to ensure the validity of the data to provide conclusion for the study. The test of normality is
done to find out the distribution of the data so as to conclude that the data is normally and
equally distributed throughout (Kim et al. 2015). For the identification of reasonable normal
distribution the thumb rule -1 and +1 is applied for the skewness and kurtosis values as
explained by Zakaria et al. (2014). On the other hand the test of reliability is done to find out
the consistency and stability of the collected data. For this test Cronbach’s Alpha reliability
test is performed on the data to identify the internal consistency of the test. According to
Cronbach’s Alpha reliability test if the coefficient varies from 0.8 to 1.0 then the reliability is

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
strong, again if it’s 0.6 to 8.0 then the reliability is moderate, and if the coefficient is below
0.6 then it shows that the reliability is weak (Ramseook-Munhurrun, Seebaluck and Naidoo
2015).
Next is descriptive analysis that was done on the data collected, it mainly finds out the
central tendency between two or more variables. It also illustrates the dispersion and
skewness with the given data. This type of analysis is mainly used when the sample size of a
research is large, so as to make the data sensible in an easy way. In this research the
researcher has used large number of sample size, which has been taken to be 200. As the
sample size for this research is large, so the researcher has used the descriptive analysis. The
descriptive analysis finds out the mean and standard deviation of the collected data, from
which data analysis is done (Kasiri et al. 2017). To analyse the central tendency the method
mainly used is to find the average or mean of the given data, and to find the variability in the
distribution of variables standard deviation of the give data is found out.
Next analysis is the correlation analysis, which is done to find the strength and
direction of relationship between two variables. The variables in this study are parametric so
Pearson correlation (R) analysis was done by the researcher. This Pearson correlation has a
coefficient range of -1 to +1. The sign (+ /-) of the coefficient indicates the direction of
relationship (+ for positive relationship/ - for negative relationship), where as the magnitude
indicates the strength of the relationship (Ariffin, Bibon and Abdullah 2017).
Finally regression analysis was performed for this study. Regression analysis helps to
forecast the impact of CPV on the dependent variable which is customer satisfaction based on
five independent variables. Regression analysis is mainly done to measure the relationship
between variables. This process is done between dependent variable and one or more
independent variable (Lee et al. 2015). For the relationship between two variables to be a

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
good fit the R2 value of the analysis has to be minimum 60 percent of the variables. To test
the relationship between dependent and independent variables F- statistics was also used, the
thumb-rule of this analysis is 0.01 to 0.05. Durbin-Watson analysis to find out the
autocorrelation was also done and its acceptance range is 1.5 to 2.5 (Lushey and Munro
2015).
3.11 Ethical Consideration
The consideration of ethics plays a key role in the development of a research paper as
it is seen that there are several measures that the researcher takes in order to stay in line with
the research ethics (Bell, Kothiyal and Willmott 2017). The ethics are maintained in
accordance to the ethical codes that have been framed by certain domestic and international
bodies and maintenance of these codes is essential. The researcher in the same way has
maintained these codes in order to remain fair and true and provide results in accordance to
this paper that would be precise and authentic (Claydon 2015). The maintenance of these
ethics is vital because of the fact that these aspects make the readers aware of the authenticity
of the paper and accordingly they can make use of this paper for their own use. Ethics have
been maintained in this paper and therefore results that would be gathered will be valid and
true (Murshed and Zhang 2016).

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Chapter 4: Data Analysis and Discussion
4.1 Introduction
The chapter four of the thesis paper concentrates on undertaking extensive analysis
and evaluation of the several aspects and the questions that have taken into consideration with
the help of which an understanding can be attained with respect to what the respondents feel
in accordance to the variables that have taken into consideration and the impact these
variables have on customer satisfaction regarding MBO Cinemas. A frequency analysis has
been undertaken for all the demographic questions that have been asked to the selected
respondents and thereafter the questions that have been asked to the respondents regarding
the variables that have been selected in this thesis and how these variables have been having
an impact on the level of customer satisfaction. The descriptive statistics, correlation and
regression analysis has been helpful in creating an idea about the mutual relationship among
all the variables and the regression table has looked to assess the fact that whether the
hypotheses that have been constructed earlier have been valid or not. This will be helpful in
creating an understanding of whether all the discussed variables have any impact on customer
satisfaction or not.
4.2 Demographic Analysis
Gender
Frequency Percent Valid Percent Cumulative
Percent
Valid
Female 93 46.5 46.5 46.5
Male 107 53.5 53.5 100.0
Total 200 100.0 100.0

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Race
Frequency Percent Valid Percent Cumulative
Percent
Valid
Chinese 103 51.5 51.5 51.5
Indian 24 12.0 12.0 63.5
Malay 56 28.0 28.0 91.5
Others 17 8.5 8.5 100.0
Total 200 100.0 100.0
Age Group
Frequency Percent Valid Percent Cumulative
Percent
Valid
18 - 30 Years Old 106 53.0 53.0 53.0
31 - 40 Years Old 56 28.0 28.0 81.0
41 - 50 Years Old 25 12.5 12.5 93.5
51 Years Old And Above 13 6.5 6.5 100.0
Total 200 100.0 100.0
Marital Status
Frequency Percent Valid Percent Cumulative
Percent
Valid Married 96 48.0 48.0 48.0
Others 3 1.5 1.5 49.5

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Single 101 50.5 50.5 100.0
Total 200 100.0 100.0
Current Employment
Frequency Percent Valid Percent Cumulative
Percent
Valid
Employed 136 68.0 68.0 68.0
Self Employed 35 17.5 17.5 85.5
Student 19 9.5 9.5 95.0
Unemployed 10 5.0 5.0 100.0
Total 200 100.0 100.0
Job Position
Frequency Percent Valid Percent Cumulative
Percent
Valid
Executive 72 36.0 36.0 36.0
Management 72 36.0 36.0 72.0
Others 37 18.5 18.5 90.5
Student 19 9.5 9.5 100.0
Total 200 100.0 100.0
Monthly Salary

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Frequency Percent Valid Percent Cumulative
Percent
Valid
RM10,000 And Above 24 12.0 12.0 12.0
RM2,500 And Below 39 19.5 19.5 31.5
RM2,501 - RM5,000 83 41.5 41.5 73.0
RM5,001 - RM10,000 54 27.0 27.0 100.0
Total 200 100.0 100.0
The first question looks to answer the percentage respondents who male and the
percentage who are female. Out of the 100 respondents who have been selected, the
percentage reveals 53.5% are male and the rest of 46.5% are females. Therefore, it can be
said that a fair distribution among male and female candidates are there within the group of
respondents.
Thereafter the researchers has tried to discover the race from which the respondents
belong and the responses that have been gathered reveal the fact that 51.5% are Chinese and
28% have been Malaysian. 12% of the respondents have been Indian and the rest of 8.5%
belong to the “other” section of the society. The results have indicated that respondents have
been very much evenly selected in the survey analysis.
The age group of the respondents and the responses show that 53% are within the age
group of 18-30 years, 28% are within the age of 31-40 years and 12.5% have been having an
age of 41-50 years respectively. The rest of 6.5% are having ages of 51 years and above. This

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
result indicates that the customers who generally visit Cineplex for watching a movie are
generally young and middle aged.
The marital status of the respondents who have been selected show that 50.5% of
them are single and 48% of them are married. The remaining small percentage of 1.5% has
not looked to share their status. Therefore, it is seen that people any kind of marital status like
to visit cinema halls and watch movies.
The current employment status of the respondents that has been gathered reveal that
68% of them are employed and the 17.5% of them self-employed while 9.5% of them are
students and the rest of 5% are unemployed. This indicates that most of the respondents are
employed who are coming for a visit in the cinemas.
The position the respondents hold in their job and the percentage that has been
attained explains the fact that 36% of them are executives and the same percentage of 36%
have explained they belong to the management group. A large percentage of 18.5% are from
the group of “others” and the rest of 9.5% are students. Hence, most of the respondents hold
significant positions in their jobs.
The monthly salary of the respondents explained that 41.5% are having salary of
RM2501-RM5000 and 27% have their salary between RM5001-RM10000. 19.5% have their
salary in between RM 2500 and below and the rest of 12% have their salary between RM
10000 and above. The results have indicated that most of the selected respondents have
significant amount of salary that is sufficient for them to manage their household and spend
money on entertainment.

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4.3 Normality of the Data Distribution
Mullins et al. (2014) addressed that normality assessments are complementary to the
graphical evaluation of normality. In the process of assessment of the data, it is essential to
monitor all the information in order to satisfy the rules of normality for all kinds of statistical
process. In this thesis the normality test has been undertaken by creating a blend of the
kurtosis and skewness and the statistical essentiality of kurtosis and skewness have been the
two essential indicators in order to compute the data normally. Mahr, Lievens and Blazevic
(2014) addressed skewness to be the balance between the distribution of profitability and a
positive skewness value explains a distribution with a tail that is asymmetric in nature that
extends towards the positive values and the negative skewness value goes towards the values
that are negative. Kurtosis on the other hand addresses the thinness of the tail of the
distribution (Chen and Wang 2016). The positive value that is attained explains a distribution
that is peaked and a value that is negative addresses a flat distribution. In the process of data
analysis, this can create a negative effect of there exists extreme variation in the normality
distribution.
Statistics
N Skewness Std. Error of
Skewness
Kurtosis
Valid Missing
Functional_Value_1 200 0 -.168 .172 -.877
Functional_Value_2 200 0 -.556 .172 2.618
Functional_Value_3 200 0 -.355 .172 2.514
Functional_Value_4 200 0 -1.125 .172 3.835
Functional_Value_5 200 0 -.082 .172 .999
Social_Value_1 200 0 -.650 .172 .036
Social_Value_2 200 0 -.661 .172 -.053

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Social_Value_3 200 0 -.655 .172 .392
Social_Value_4 200 0 -.563 .172 -.125
Social_Value_5 200 0 -.315 .172 -.548
Emotional_Value_1 200 0 -.144 .172 .240
Emotional_Value_2 200 0 -.569 .172 1.416
Emotional_Value_3 200 0 -.382 .172 -.508
Emotional_Value_4 200 0 -.501 .172 2.311
Emotional_Value_5 200 0 -.718 .172 2.134
Economical_Value_1 200 0 -.791 .172 .761
Economical_Value_2 200 0 -.593 .172 -.474
Economical_Value_3 200 0 -.918 .172 1.334
Economical_Value_4 200 0 -.590 .172 .265
Economical_Value_5 200 0 -.819 .172 .542
Conditional_Value_1 200 0 -.604 .172 1.406
Conditional_Value_2 200 0 -.829 .172 1.101
Conditional_Value_3 200 0 -.364 .172 -.201
Conditional_Value_4 200 0 -.653 .172 1.587
Conditional_Value_5 200 0 -.507 .172 .701
Customer_Satisfaction_1 200 0 -.868 .172 2.182
Customer_Satisfaction_2 200 0 -.212 .172 -.823
Customer_Satisfaction_3 200 0 -.998 .172 1.212
Customer_Satisfaction_4 200 0 -1.086 .172 2.242
Customer_Satisfaction_5 200 0 -.688 .172 .845
In accordance to the results that have been obtained, it can be said that while
analysing on the perspective of skewness, it can be said that all the questions are acceptable

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
as the values attained are lower than 1 (Gao and Lai 2015). With respect to the assessment of
kurtosis, it can be said that most of the values cannot be accepted and they are FV 2, FV 3,
FV 4, EV 2, EV 4, EV5, ECV 3, CV 1, CV 2, CV 3, CS 1, CS 3 and CS 4. On an overall
basis, the results that have been distributed are distributed normally and therefore reliability
test in the future can be undertaken in this thesis.
4.4 Reliability Test
Reliability is done to find out the consistency and stability of the collected data. For
this test Cronbach’s Alpha reliability test is performed on the data to identify the internal
consistency of the test (Wu et al. 2014). According to Cronbach’s Alpha reliability test if the
coefficient varies from 0.8 to 1.0 then the reliability is strong, again if it’s 0.6 to 8.0 then the
reliability is moderate, and if the coefficient is below 0.6 then it shows that the reliability is
weak.
Item Statistics
Mean Std. Deviation N
Functional_Value_1 3.22 1.074 200
Functional_Value_2 4.02 .544 200
Functional_Value_3 4.06 .523 200
Functional_Value_4 3.85 .574 200
Functional_Value_5 4.19 .541 200
Social_Value_1 3.47 .907 200
Social_Value_2 3.67 .946 200
Social_Value_3 3.84 .867 200
Social_Value_4 3.59 .846 200
Social_Value_5 3.16 1.042 200
Emotional_Value_1 4.02 .605 200

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Emotional_Value_2 3.92 .683 200
Emotional_Value_3 3.09 .909 200
Emotional_Value_4 4.06 .560 200
Emotional_Value_5 3.84 .630 200
Economical_Value_1 3.66 .740 200
Economical_Value_2 3.25 .939 200
Economical_Value_3 3.88 .770 200
Economical_Value_4 3.78 .828 200
Economical_Value_5 3.51 .796 200
Conditional_Value_1 4.03 .641 200
Conditional_Value_2 4.07 .780 200
Conditional_Value_3 3.86 .790 200
Conditional_Value_4 4.01 .691 200
Conditional_Value_5 3.76 .733 200
Customer_Satisfaction_1 3.85 .489 200
Customer_Satisfaction_2 3.11 .953 200
Customer_Satisfaction_3 3.63 .661 200
Customer_Satisfaction_4 3.82 .577 200
Customer_Satisfaction_5 3.74 .597 200
Reliability Statistics
Cronbach's
Alpha
Cronbach's
Alpha Based on
Standardized
Items
N of Items
.867 .875 30

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
By looking at the above table, it can be said Cronbach’s alpha value has been 0.6 and
closer and most of the values have been higher than 0.6. It is seen that on a whole the value
comes to 0.867 and this value is acceptable and therefore can be said that the scale is reliable.
Therefore, the research tool is regarded to be reliable in the internal consistency (Chai,
Malhotra and Alpert 2015).
4.5 Data Distribution Graphs
In order to examine the normality of the data further with respect to the dependent
variables and the independent variables, analysis like histogram, scatter plot and p-plots
would be used in order to undertake the descriptive analysis of the paper.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
4.5.1 Histogram
The figure that has been obtained in the graph addresses a bell-shaped histogram,
which is symmetry to the middle, and thereby can be addressed that all the data are
distributed normally as the bell-shaped is well in-between the data disclosing normal
distribution (Ažman and Gomišček 2015).
4.5.2 P-Plots
This refers to the profitability plot that is used for assessing the closeness to which the
data sets agree, and thereby plots two distributions that are cumulative and functions against
each other. P-Plot is generally utilised in order to assess the skewness of a distribution
(Walsh, Bartikowski and Beatty 2014). This even addresses the normality among the

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
dependent and the independent variables in case all the points are closely existent among the
regression line and thereby indicates that the mean is good.
The results that have been obtained expresses the fact that the data are looked upon to
be normal as all the points within the distribution are existent in a close manner with respect
to the regression line and thereby explaining that the questionnaires were distributed normally
to the participants (Mouwen 2015). Hence, there are no big factors that can have an impact on
the data normality.

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4.5.3 Scatter Plot
Scatter plot is a process of assessing the relationship between two variables. The trend
of their essential points can graphically explain the trend of the relationship. Scatter plots
have been proven successfully in descriptive statistics and visualization of the data, and
scatter plots are also effectual in explaining the relationship in the data (Ali and Raza 2017).

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
The plots that have been constructed address a trend that is upward in nature and
thereby indicating the fact that there is a positive association among the dependent and the
independent variables (Brochado, Rita and Gameiro 2015). The results explain the data is
distributed normally.
4.6 Descriptive Statistics
The descriptive statistics has been constructed in order to gain certain idea about the
linkage and the mutual inter-relationship between the variables that have been taken into
consideration. It is seen that descriptive statistics looks to explain the mean, median and the
mode of all the variables separately (Ali, Amin and Cobanoglu 2016). The questions that
have been asked based on all the six variables have been clubbed and their average values

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
have been determined in order to make it easier for the readers to have an understanding
about the effectiveness of all the six variables in the minds of the customers.
The table below would explain the values that have been obtained for the entire six
variables:
Statistics
FV SV Emo_V Eco_V CS Condi_V
N
Valid 200 200 200 200 200 200
Missing 0 0 0 0 0 0
Mean 4.0400 3.6150 3.9200 3.6900 3.7300 3.9900
Median 4.0000 4.0000 4.0000 4.0000 4.0000 4.0000
Mode 4.00 4.00 4.00 4.00 4.00 4.00
Std. Deviation .45765 .83683 .58764 .68281 .55556 .58447
Mean is known to be the aggregate of the all the numbers and this is constructed by
adding all the figures that are available and dividing them with the total count numbers. In
this manner, it is seen that mean value of functional value has been 4.0400, the social value
has been 3.6150, emotional value is 3.9200, economic value is 3.69, customer satisfaction has
been 3.73 and conditional value has been 3.99. It is seen that the mean has been close to 4
and thereby indicating that the respondents have most agreed to the questions that have been
asked to them as four was the scale marking for agreeing to the questions (Liat, Mansori and
Huei 2014).
Median on the other hand, tries to find out the middle number that is within a
sequence of numbers and the median for all the variables have been 4 as well. In the similar
manner, mode refers to the number that has occurred the most in a set of numbers and as the

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
respondents have agreed most to the questions and therefore it is seen that mode for all the
variables have been 4 as well.
The standard deviation has looked to answer the degree of the numbers of a group that
differs from the mean value of the group and the results have indicated that standard
deviation of all the variables have been minimum as the values that have been attained has all
been lower than 1. This signifies that the results that have been attained are all valid with
respect to the topic that has been taken into consideration (Zhang et al. 2014).
4.7 Regression Analysis
Regression analysis was performed for this study. Regression analysis helps to
forecast the impact of CPV on the dependent variable which is customer satisfaction based on
five independent variables. Regression analysis is mainly done to measure the relationship
between variables. This process is done between dependent variable and one or more
independent variable (Xu, Peak and Prybutok 2015). For the relationship between two
variables to be a good fit the R2value of the analysis has to be minimum 60 percent of the
variables. To test the relationship between dependent and independent variables F- statistics
was also used, the thumb-rule of this analysis is 0.01 to 0.05. In accordance to this paper, the
dependent variable has been found to be customer satisfaction and accordingly the
independent variables have been found to be conditional value, functional value, economic
value, emotional value and social value (Wu and Liao 2016). The table that are given below
would look to provide a proper understanding of the regression analysis of all the concerned
variables.
Model Summary
Model R R Square Adjusted R Std. Error of the Change Statistics

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Square Estimate R Square
Change
F Change df1
1 .598a .357 .341 .45106 .357 21.577 5
The results that have been attained explain that the R square value has been 0.35
hence 35% of the dependent variable can be forecasted from the independent variable. The
adjusted R square being 0.341 explains that it is not a fit framework as the figure has been
less than 0.60
Coefficientsa
Model Unstandardized Coefficients Standardized
Coefficients
t Sig.
B Std. Error Beta
1
(Constant) .271 .369 .735 .463
FV .460 .073 .379 6.318 .000
SV .091 .042 .138 2.189 .030
Emo_V .165 .057 .175 2.880 .004
Eco_V .204 .050 .251 4.087 .000
Condi_V -.033 .061 -.034 -.536 .592
The functional value that has been attained has been .379 with a significant value of
0.000 which explains that functional value is discovered to have a positive vital effect on
customer satisfaction (Wakefield and Blodgett 2016). The values also explained that
functional value has the most impact on customer satisfaction as its beta coefficient is the
most vital and largest from all the other variables. Therefore H1 is accepted.

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In the same way it is seen that social value has beta of .138 with a significant value of
0.30, which is more than 0.05 and therefore it is seen that social value has a positive
relationship with customer satisfaction. Therefore as Vogel and Paul (2015) indicated that
social value has a positive relationship with customer satisfaction therefore H2 is accepted.
Emotional value has beta of .175 and the significant value is 0.004 and therefore is
lower than 0.05 (Subramanian et al. 2014). There exists a positive relationship among
emotional value and customer satisfaction and therefore it can be said that H3 can be
accepted as well.
Economic value has a beta of 0.251 and significance at 0.000 and thereby the value is
lower than 0.05 and thereby a positive relation exists between the dependent and the
independent variable and therefore one can state that H4 is even accepted.
However, conditional value has a value of 0.34 and the significant value of .594,
which is higher than 0.005 and therefore results indicate that negative and insignificant
relationship is present (Stathopoulou and Balabanis 2016). Therefore H5 is rejected.
Hence, the assessment has explained that except for conditional value all the other
independent variables have significant impact on the extent of customer satisfaction in the
entertainment industry.
4.8 Correlation Analysis
The process of correlation analysis looks to create and understand the mutual
relationship and agreement among the variables that are related to this research topic and
thereby creating an idea about the degree of relationship among the selected variables
(Söderlund and Colliander 2015). Correlation analysis is done to find the strength and
direction of relationship between two variables. The variables in this study are parametric so

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Pearson correlation (R) analysis was done by the researcher. This Pearson correlation has a
coefficient range of -1 to +1. The sign (+ /-) of the coefficient indicates the direction of
relationship (+ for positive relationship/ - for negative relationship), where as the magnitude
indicates the strength of the relationship (Scott Jones and Goldring 2015). In this manner, the
table below depicts the correlation among the dependent and the independent variables.
Correlations
FV SV Emo_V Eco_V CS Condi_V
FV
Pearson Correlation 1 .093 .180* .233** .478** .114
Sig. (2-tailed) .191 .011 .001 .000 .107
N 200 200 200 200 200 200
SV
Pearson Correlation .093 1 .162* .247** .251** .362**
Sig. (2-tailed) .191 .022 .000 .000 .000
N 200 200 200 200 200 200
Emo_V
Pearson Correlation .180* .162* 1 .126 .288** .276**
Sig. (2-tailed) .011 .022 .076 .000 .000
N 200 200 200 200 200 200
Eco_V
Pearson Correlation .233** .247** .126 1 .388** .219**
Sig. (2-tailed) .001 .000 .076 .000 .002
N 200 200 200 200 200 200
CS
Pearson Correlation .478** .251** .288** .388** 1 .162*
Sig. (2-tailed) .000 .000 .000 .000 .022
N 200 200 200 200 200 200
Condi_V Pearson Correlation .114 .362** .276** .219** .162* 1

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
Sig. (2-tailed) .107 .000 .000 .002 .022
N 200 200 200 200 200 200
This table replicates the fact that all the independent variables have a positive and
strong correlation with the dependent variable.
The correlation analysis at 95% confidence has indicated the same things as well as
the all the variables have a strong and positive relationship with the dependent variable that
has been customers satisfaction in this scenario (Sarma 2015).
The correlation among all the independent variables has explained the fact that there
exists a positive relationship among the independent variables. It is seen that all the variables
have their own features and therefore are mutually correlated (Saleem, Zahra and Yaseen
2017). However, all the variables are correlated to customer satisfaction and thereby the
results have been able to explain the fact that customer satisfaction has a role to play in the
development of MBO Cinemas if they construct plans and strategies with the help of the
social, functional, economic, emotional and conditional values.
4.9 Discussion
The results that have been attained in this thesis paper addresses the fact that the
responses that have been gathered from the selected participants have been able to explain the
fact that customer satisfaction has an essential role to play in the development of the revenue
and customer base of any organization. In the same manner, respondents have explained the
fact that functional, social, emotional, conditional and economic values are essential variables
with the help of which the companies would be able to construct plans and strategies with the
help of which they would be able to satisfy the customers. The customers regard all of these

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values in a critical manner and therefore services in accordance to these values if provided to
the customers would be effective enough in satisfying them and thereby creating competitive
edge for MBO Cinemas.

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Chapter 5: Conclusion, Recommendation and Future Work
5.1 Conclusion
This chapter is associated with having an understanding of the results that have been
obtained from the responses that have been attained from the selected respondents. Primary
data has been used in this paper as the topic is related to having an understanding of the
feelings and the sentiments of the customers who have been making use of these services
(Ryu and Lee 2017). The topic is related to having an understanding of the customer
perceived value on customer satisfaction. The thesis in the background of the thesis has
explained the process of customer perceived value and how these values have been essential
in the development of products and services that would be helpful in the development of the
better satisfaction level among the customers. A background on the entertainment industry in
Malaysia has even been addressed with the help of which an understanding can be attained
with respect to which how development on the entertainment industry can take place and
accordingly better strategies can be constructed (Ratanavilaikul 2018). The background has
addressed that customer satisfaction is one of the essential features with the help of which the
companies can be develop their products in order to sell the same in the market and
accordingly take steps and measures with the help of which these issues can be resolved
(Rahimi and Kozak 2017). The background has been able to address the framework that is
related to customer perceived value and how these values can lead to customer satisfaction
among the customers. It is seen that customer perceived value comprises of the functional,
social, economic, emotional and conditional values and the researcher in this paper has been
able to address the fact that these variables are ideally suited for the development of the
customer satisfaction in the entertainment industry in Malaysia, especially in the case of
MBO Cinemas. The problem statement that has been constructed in this paper has looked to
explain the issues that have been pertinent in this industry and research has been able to

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explain the fact that the attainment of brand image and effective level of quality services have
been the most essential issues and this has been the problem as the industry has not been able
to understand the model and the strategies that would be appropriate in order to attain these
goals and objectives (PandžaBajs 2015). The research has even discovered that development
of brand image and effective level of service quality can be attained once the customers show
their level of satisfaction from the products and services that have been offered to them. The
research has even addressed the research gap so that at the end of the research the thesis
would be able to bridge the gap and attain results that would be effective enough in
mitigating the gap and creating results that are ideally fit (Martin, Mortimer and Andrews
2015). The aims and objectives of the paper that has been created relates to the creation of a
better result and the researcher looks to move ahead on these aspects in order to gather results
that would be ideally be suited to them. The effectiveness of the result would be determined
once the results have been able to address the objectives that have been set for this research
topic. The significance of the thesis paper has been able to determine how the results have
been effective enough and how significant the topic is in order to create a better strategy and
policy for the companies that are operational in the entertainment industry of Malaysia and
thereby creating results that would be suitable for them.
The literature that has been framed in this paper has been looking to create an
understanding about hat other researchers have suggested on this topic and thereby create an
understanding of how the other researchers have viewed this topic in accordance to their
opinion (Manhas and Tukamushaba 2015). In this manner, the variables that have been taken
into consideration have been explained with respect to the various researchers and
accordingly their suggestions and opinions have been addressed with the help of which an
idea about these values have been attained and their pros and cons can be known. In this
manner, it is seen that the researchers have been able to address the fact that whether the all

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
the variables would be helpful in creating customers perceived value and accordingly an idea
can be attained with respect to the level of customer satisfaction would be able to attain
(Loutfy et al. 2016). The hypothesis of the paper has been constructed and accordingly the
relationship among the variables have been understood.
The methodology section of the paper has ascertain the process with the assistance of
which data has been gathered and what sort of data can be used with the help of which
effective results can be attained. In this manner, it is seen that deductive approach has been
undertaken and primary data has been used with the help of which effective level of results
have been obtained (Kursunluoglu 2014). The results that have been obtained with the help
of this data is able to confirm that the result has been true and authentic and has been able to
address the fact that customer satisfaction is related to the values that have been discussed in
this thesis and accordingly constructing plans and policies related to these values would be
helpful in creating better level of customers satisfaction for the customers who are visiting
MBO Cinemas. The authenticity and the validity of the result can be obtained once the results
would be able to address the objectives of the thesis. They are explained as follows:
5.2 Addressing the Objectives
Objective 1: To assess the effect of functional value on customer satisfaction
The results that have been attained has been explain the fact that functional value is
increasingly related to the level of customer satisfaction because of the fact that these value
have been address the price, quality, sound and ambience that is desired by the customers in
order to satisfy them in accordance to the service provided by MBO Cinemas (Kumar and
Reinartz 2016). Therefore, attainment of these factors would be lead to satisfaction among
the customers.
Objective 2: To assess the effect of social value on customer satisfaction

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The results that have been gathered in this thesis has even addressed the social values
leads to customer satisfaction as it is seen that word-of-mouth, discussions with friends and
families, spending time with their families and increasing their social status would be able to
enhance their level of customer satisfaction (Kim and Kang 2018). In this manner, it can be
addressed that these elements have essential role to play in the development of customer
satisfaction and therefore the results have been able to address the same.
Objective 3: To examine the effect of emotional value on customer satisfaction
The results have been successful in enough in explaining this value as well because of
the fact that watching movies are able to make the customers happy, excited, proud and
relaxed and thereafter they are able to enhance their confidence level and accordingly plans
and polices can be undertaken with the help of which the company would be able to satisfy
their customers (Hyun and Han 2015).
Objective 4: To assess the impact of economic value on customer satisfaction
Economic value has even been able to attain customer satisfaction as willingness to
pay for the movie, paying for the food and beverages and the customers looking to pay for the
additional features have been able to address the fact that attainment of economic values has
been able to address the level of customer satisfaction (Hussain 2016).
Objective 5: To evaluate the impact of conditional value on customer satisfaction
The results have been able to address that conditional value leads to customers
satisfaction and therefore it can be said that watching blockbuster movies, watching at a
discount rate and watching movies near the house of the customers and getting attracted to
promotional activities have impact on customer satisfaction (Han et al. 2018). Therefore it is
seen that conditional value creates customer satisfaction.

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In this manner, it can be said that all the values that have been selected as the
variables are able to address that all the variables have been able to address customer
satisfaction and in this way MBO Cinema would be able attain customer satisfaction.
5.3 Recommendation
The results have been helpful in creating certain recommendations and the
incorporation of these strategies would be helpful in the development of better functional
activities of the company. It is recommended that the entertainment industry especially MBO
Cinemas should look to enhance the social, functional, conditional, economic and emotional
values as these values would be supportive in creating satisfaction level among the customers
(Han and Hyun 2015). Hence, in order to come over the fall in the sales that has been
observed in the entertainment industry in Malaysia in the current few years, it is suggested
that the entertainment industries and MBO Cinemas enhance their functional values like the
quality of the picture, maintain reasonable price, create a better ambience and sound systems
as the development of these systems would be helpful in creating brand image and
accordingly create satisfaction among the customers that in a way would enhance the share in
the market in the entertainment industry (Elbeltagi and Agag 2016). In the entertainment
sector in Malaysia, there has been changes and this indicates that the taste and preferences of
the customers are increasing and therefore the entertainment companies should look to gain
knowledge about the demands of the customers and accordingly create strategies with the
help of which they would be able to satisfy their customers in order to stay in line with the
other companies and thereby maintain their business in the market in an effective manner
(Eid 2015). In this manner, development of customer perceived value with the help of
emotional, functional, conditional, economic and emotional values have a lot of significance
in the entertainment sector as all these variables are positively associated with the level of
customer satisfaction and needs to be administered in an effective manner in order to enhance

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the functions of the business and develop the level of performance in the entertainment
industry in Malaysia.
5.4 Limitation
The completion of the research based on this thesis, it can be discovered that there are
certain limitations that restricted the researcher from attaining much better and effective
results. The researcher faced several issues while collecting data from the respondents and
thereafter making comparison with the secondary data in accordance to the one that have
been explained by several researchers has been difficult (Díaz 2017). The assessment of the
primary data with the secondary data was a time consuming process. The other limitation has
been the lack of time that was available in order to gather the primary data from parts of
Malaysia and therefore the data collected may not be as effective as the one that was
expected.
5.5 Future Research
There are scope of numerous further researches on this topic because of the fact that
with the advent of time, there would changes in the market and accordingly there would be
changes in the tastes and preferences as well. Therefore, it is expected that customer
perceived value and customer satisfaction would change as well (Claydon 2015). In this
manner, it can be said that future research would be helpful in determining the changes that
have taken place then in accordance to the current thesis paper and thereby authoritative
results can be obtained.

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Questionnaire
A. FUNCTIONAL VALUE
Cinema ticket is reasonably priced.
Cinema has good quality picture.
Cinema has good quality sound.
Cinema has good ambience.
Cinema has the latest blockbuster movies.
B. SOCIAL VALUE
I get influence by others’ word-of-mouth when purchase cinema tickets.
I discuss with my family and friends when purchasing cinema tickets
Watching movies in the cinema can raise my social status.
I spend time with my family and friends by watching movies in the cinema.
Watching movies in the cinema is a good group activity
C. EMOTIONAL VALUE
Watching movies in the cinema makes me happy.
Watching movies in the cinema makes me exciting.
Watching movies in the cinema makes me feel proud.
Watching movies in the cinema makes me feel relax.
I emotionally support watching movies in the cinema.
D. ECONOMIC VALUE
I am willing to pay to watch movie in a cinema.
I am willing to pay for F&B when watching movie in the cinemas
I am willing to pay to watch movie in a cinema with enhance sound and picture
quality
I am willing to pay to watch movie in a cinema with special features
I am willing to travel to watch movie in a cinema
E. CONDITIONAL VALUE
I will watch movies in the cinema when there is a blockbuster movie.
I will watch movies in the cinema when there is a discount rate.
I will watch movies in the cinema when there is a promotional activity.
I will watch movies in the cinema when the cinema is near my home.

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THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
I will watch movies in the cinema when there is free time.