Impact of Customer Perceived Value on Customer Satisfaction and Loyalty in Food Industry of Hong Kong

RESEARCH PROPOSAL

Table of Contents
BACKGROUND OF THE STUDY................................................................................................1
AIMS AND OBJECTIVES.............................................................................................................2
RESEARCH QUESTIONS.............................................................................................................3
RATIONALE...................................................................................................................................3
PROPOSAL PLAN..........................................................................................................................4
RESEARCH METHODOLOGY.....................................................................................................7
RESEARCH MODEL...................................................................................................................13
RESEARCH LIMITATIONS........................................................................................................14
REFERENCES..............................................................................................................................15

Topic: To investigate the impact of customer perceived value on customers satisfaction and
loyalty in food industry of Hong Kong. A case of Ameyokocho stores.
BACKGROUND OF THE STUDY
Customers are the most significant element for any business organization. It has been
observed that consumers never purchase products primarily for their functions (Hazée and Van
Vaerenbergh, 2020). However, they make purchase of specific goods with an intention to get
perceived benefits the clients is getting from the product. While at the time of purchase it has
been identified that customer values products much more than the functions of goods. In today's
competitive environment it has been seen that in food industry sector there are extra barriers that
have been generated in order to achieve customers loyalty and it becomes difficult to satisfy the
desires and requirements of each consumer. Consumers loyalty is highly important in order to
improve overall performance of the firm and build better relationship with their potential clients
(Ali and Bhasin, 2019). The creation of high amount of consumer satisfaction, customer loyalty
and customer perceived value it is highly important to create a positive relationship among the
clients. The organization which strongly boosts up the overall performance of the firm resulting
in fulfilment of desires of consumers which automatically provides complete satisfaction.
There are many factors that influences the satisfaction as well as loyalty level within the
customers with the help of giving them perceived value of the offered products (AL-Ghaswyneh,
2020). It has been stated and seen that the food quality highly influences the customers to make
purchase of goods irrespective of prices up to certain extent. Food quality defines itself with the
collection of all the food chunks into one final product that are going to be offer to customers
and in return they have to give payment to the firm. Thus in order to meet the requirements
related to the food quality there are certain characteristics that needs to be focused by the
confectionery shops or even overall food industry such as freshness of food, food presentation,
taste, variety of item available, food temperature and innovation of food highly influences the
customers towards the product in order to make the purchase or not. After getting the product
the another factor works which decides that whether the customers feel satisfied or not and thus
they will be loyal customer for the firm or not in their future terms.
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Apart from food quality, the service quality of the employees that are working within the
establishment and offer the product directly to the clients along with the prices at which the firm
offer their goods are also highly important factors that affects the purchase and overall sales of
the organisation in most effectual manner (Jiang and et.al., 2018). Monetary and time costs
extremely affects the perceived value of customers while perceived service quality points out
higher level of perceived value. Customers also gives their complete focus on convenience in
order to get the product. Customers more likely to make purchase if they find that the product or
the company makes the use of their time more efficient. The combination of all the elements are
able to make products and services most successful in nature and thus fulfils the requirement of
customer perceived value in complete manner. In simple words it has been summarised that
company develop its brand value and market their products, customers are the ones who
ultimately determine the ways to understand and react accordingly towards the marketing
messages.
The confectionery industry has been chosen by the scholar for study as this is one of the
most dynamically growing and innovative food sectors in Hong Kong. The global confectionery
market was valued at £210billion in 2020 and is projected to reach at £271billion by 2025.
Confectionery industry includes wide range of products such as chocolates, cookies, gummies,
candy, bars and many more. It is important to fulfil the requirements of customers as it gets keep
on changing constantly. Their habits, tastes and preferences changes day by day. All such things
involves the innovation in the field of confectionery that drives the overall market growth.
Furthermore, the trend of gifting confectionery products has enable to propel the market growth
in recent years but also in order to satisfy the requirements of customers. Thus, the topic is
extremely important to study in detailed manner to get all the necessary view points completely.
AIMS AND OBJECTIVES
Aim
To evaluate the impact of customer perceived value on customer satisfaction and loyalty
of Ameyokocho stores.
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