The Impact of Customer Perceived Value on Customer Satisfaction: A Case Study on MBO Cinemas
The purpose of this project is to find out the relationship which exists between customers' perceived values, their satisfaction, and retention among the consumers of MBO Cinemas services in Malaysia.
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Added on 2023-06-16
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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.
The Impact of Customer Perceived Value on Customer Satisfaction: A Case Study on MBO Cinemas
The purpose of this project is to find out the relationship which exists between customers' perceived values, their satisfaction, and retention among the consumers of MBO Cinemas services in Malaysia.
Added on 2023-06-16
ShareRelated Documents
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:
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:
1
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.
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.
2
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
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
3
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
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
4
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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
5
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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.
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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.
6
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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
7
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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
THE IMPACT OF CUSTOMER PERCEIVED VALUE ON CUSTOMER SATISFACTION
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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