The link between customer satisfaction and price sensitivity: An investigation of retailing industry in Taiwan |
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| Authors: | Wen-Shinn Low Jeng-Da Lee Soo-May Cheng |
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| Affiliation: | 1. Department of Business Administration & Graduate Institute of Management, Chien Hsin University of Science and Technology, 229, Chien-Hsin Road, Jung-Li, Taiwan;2. Graduate School of Management, Chung Yuan Christian University 200, Chung-Pei Road, Jung Li, Taoyuan, Taiwan;3. Research Fellow at the Public Policy Research Institute, The Hong Kong Polytechnic University, Hung Hom, Kowloon, Hong Kong, China;1. School of Business, Public Administration and Information Sciences, Long Island University 1, University Plaza Brooklyn, NY 11201, USA;2. Department of Marketing & Management, College of Business & Entrepreneurship, Texas A&M University Commerce, TX 75428, USA;1. Stockholm School of Economics, P.O. Box 6501, SE-113 83 Stockholm, Sweden;2. Center for Retailing, Stockholm School of Economics, Sweden;1. Graduate School of Social Sciences, Eskisehir Osmangazi University, ESOGU Meselik Campus, 26480 Eskisehir, TR;2. Assist. Prof. Dr, Faculty of Economics and Administrative Sciences, Eskisehir Osmangazi University, ESOGU Meselik Campus, 26480 Eskisehir, TR;1. School of Management, State University of New York at Buffalo, Buffalo, NY 14260, USA;2. Project and Supply Chain Management Program, Pennsylvania State University Scranton Campus, Dunmore, PA 18512, USA;3. College of Business, San Francisco State University, 1600 Holloway Avenue, San Francisco, CA 94132, USA |
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| Abstract: | Are customers less likely to seek bargains once they are satisfied with a product and service? This study examines the relationship between customer satisfaction and price sensitivity. Specifically, satisfaction is divided into economic satisfaction derived from tangible products and social satisfaction provided by service encounters. This survey of 248 retailer–consumer dyads shows that economic satisfaction is negatively associated with price sensitivity. However, social satisfaction is positively related with price sensitivity, especially for female customers and customers with high patronage frequency. Interpersonal relationships emphasized in the Chinese collectivist societies tend to influence customers' price sensitivity. These findings have many implications for researchers and practitioners in the retail sector. |
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