THE EFFECT OF PERCEIVED VALUE AND EWOM ON LOYALTY IN THE INDUSTRY CONSUMER GOODS BASED ON EQUITY THEORY
Keywords:
Corporate social responsibility, loyalty
Abstract
This study describes the effect of equity theory on perceived value. Equity theory assumes that, generally, a person likes to act with comparability or fairness. The purpose of this research is to understand the perceived value of consumers and the exchange of information carried out by consumers, which can later encourage someone to buy a good or service. The gap in research, namely perceived value, is that previous studies have different results. Based on this explanation, the aim is to see the effect of corporate social responsibility, perceived value, electronic-word-of-mouth, satisfaction, and loyalty on product purchases in the industry consumer goods. In this study, the EWOM variable becomes a novelty. The research object used is the industry consumer goods. The data was distributed using google forms to 276 respondents. Respondents with productive age are 17-64 years old, know social responsibility, and have a domicile in Java. The test utilizes SEM-AMOS 26 and SPSS-26. In using SEM, it wants to provide information to previous researchers. Furthermore, the result is that there is a negative influence on one of the five positive hypotheses. The variable perception of value is rejected, so there is no interest in purchasing consumer goods that cause loyalty.
References
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Wijaya, B. and Yulita, H. (2020) 'Effect of Emotional Experience, Electronic Word of Mouth, Reputation, Customer Satisfaction on Loyalty', Ilomata International Journal of Management, 1(4), pp. 215-227. Available at: https://doi.org/10.52728/ijjm.v1i4.164.
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Zikmund, W., Babin, B. J., Carr, J. C., & Griffin, M. (2009). Business Research Methods, 8th Ediiton. South-Western College Pub.
Zulkarnaen, W., Amin, N. N. (2018). Pengaruh Strategi Penetapan Harga Terhadap Kepuasan Konsumen. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 2(1), 106-128
Barqiah, S. and Marsasi, E.G. (2022) 'The Influence of Utilitarian Motivation, Ideal Self-Concept, and Perception of Consumers on Intention to Use Islamic Banking Products, 18(2), pp. 100-112. Available at: https://doi.org/10.33830/jom.v18i2.3628.2022.
Chandra, R. and Jatmika, S. (2022) 'Unilever Surabaya Corporate Social Responsibility (CSR) Policy in Maintaining Environmental Sustainability in Surabaya in 2014-2020', Proceedings of the International Conference on Public Organization (ICONPO 2021), 209 (Iconpo 2021), pp. 444-452. Available at: https://www.atlantis-press.com/proceedings/iconpo-21/125970904.
Creswell, J. W. (2012). Educational Research: Planning, conducting and evaluating quantitative and qualitative research.
Diputra, IGAW, and Yasa, N.N. (2021) 'The Influence of Product Quality, Brand Image, Brand Trust on Customer Satisfaction and Loyalty', American International Journal of Business Management (AIJBM), 4(1), pp. 25-34. Available at: http://118.97.187.12/pustaka/files/17726/jurnal/the-impact-of-service-quality-product-quality-and-price-on-customer-satisfaction.pdf.
Fadella, N. (2022) 'How Customer Value and Word-of-Mouth (E-WoM) Affect Customer Satisfaction with Fashion Conciousness as a Moderating Variable', Journal of Business Management, 9(2), pp. 242-252. Available at: https://jurnal.fe.umi.ac.id/index.php/JMB/article/view/290%0Ahttps://jurnal.fe.umi.ac.id/index.php/JMB/article/download/290/225.
Fatma, M. et al. (2020) 'The effect of CSR. engagement on eWOM on social media, International Journal of Organizational Analysis, 28(4), pp. 941-956. Available at: https://doi.org/10.1108/IJOA-10-2019-1895.
Hair, JF et al. (2019) Multivariate Data Analysis, Multivariate Data Analysis, Book.
Hanaysha, J.R. (2018) 'Customer retention and the mediating role of perceived value in the retail industry', World Journal of Entrepreneurship, Management, and Sustainable Development, 14(1), pp. 2-24. Available at: https://doi.org/10.1108/wjemsd-06-2017-0035.
Hendra, S. et al. (2022) 'The Effect of Quality and Price on Satisfaction and Impact on Consumer Loyalty', 6(1), pp. 64-74. Available at: https://doi.org/10.31289/jime.v6i1.7047.
Khasbulloh, A.H.K., and Suparna, G. (2022) 'Effect of Perceived Risk and Perceived Value on Customer Loyalty through Customer Satisfaction as Intervening Variables on Bukalapak Users', European Journal of Business and Management Research, 7(4), pp. 22-28. Available at: https://doi.org/10.24018/ejbmr.2022.7.4.1472.
Lacap, J.P.G., Cham, T.H. and Lim, X.J. (2021) 'The Influence of Corporate Social Responsibility on Brand Loyalty and the Mediating Effects of Brand Satisfaction and Perceived Quality', International Journal of Economics and Management, 15(1), pp. 69-87.
M, H., Militina, T. and Achmad, GN (2020) 'Effect of Customer Value and Customer Experience on Customer Satisfaction and Loyalty Pt Meratus Samarinda', International Journal of Economics, Business, and Accounting Research (IJEBAR), 4(01), pp. 84-94. Available at: https://doi.org/10.29040/ijebar.v4i01.909.
Minh Sang, N. (2022) 'Corporate social responsibility, electronic word-of-mouth and customer loyalty in Vietnam's banking sector', Banks and Bank Systems, 17(3), pp. 38-48. Available at: https://doi.org/10.21511/bbs.17(3).2022.04.
Mohammed, A. and Al-Swidi, A. (2019) 'The influence of CSR. on perceived value, social media and loyalty in the hotel industry', Spanish Journal of Marketing - ESIC, 23(3), pp. 373-396. Available at: https://doi.org/10.1108/SJME-06-2019-0029.
Mohammed, A. and Al-Swidi, A. (2020) 'The mediating role of affective commitment between corporate social responsibility and eWOM in the hospitality industry', Journal of Sustainable Tourism, 29(4), pp. 570-594. Available at: https://doi.org/10.1080/09669582.2020.1818086.
Paulose, D. and Shakeel, A. (2022) 'Perceived Experience, Perceived Value and Customer Satisfaction as Antecedents to Loyalty among Hotel Guests', Journal of Quality Assurance in Hospitality and Tourism, 23(2), pp. 447-481. Available at: https://doi.org/10.1080/1528008X.2021.1884930.
Rakim, A.A., Iqbal, M. and Misra, I. (2022) 'Analysis of investment strategy in Indonesian consumer goods industry: Benjamin Graham's approach', Diponegoro International Journal of Business, 5(1), pp. 57-69. Available at: https://doi.org/10.14710/dijb.5.1.2022.57-69.
Resika, Y., Wahab, Z. and Shihab, MS (2019) 'Customer Perceived Value and Customer Trust: Identifying Go-Car Consumer Satisfaction and Loyalty', Journal of Management and Business Review, 16(1), pp. 1-22. Available at: https://doi.org/10.34149/jmbr.v16i1.138.
Satriandhini, M., Wulandari, S.Z. and Suwandari, L. (2019) 'The Effect of Perceived Value and Service Quality on Repurchase Intention Through Go-Food Consumer Satisfaction: a Study on the Millennial', International Conference on Rural Development and Entrepreneurship 2019: Enhancing Small Business and Rural Development Toward Industrial Revolution 4.0, 5(1), pp. 770-781.
Servera-Francés, D. and Piqueras-Tomás, L. (2019). 'The effects of corporate social responsibility on consumer loyalty through consumer perceived value', Economic Research-Ekonomska Istrazivanja , 32(1), pp. 66-84. Available at: https://doi.org/10.1080/1331677X.2018.1547202.
Slack, N., Singh, G., and Sharma, S. (2020) 'Impact of perceived value on the satisfaction of supermarket customers: developing country perspective', International Journal of Retail and Distribution Management, 48(11), pp. 1235-1254. Available at: https://doi.org/10.1108/IJRDM-03-2019-0099.
Srivastava, M. and Sivaramakrishnan, S. (2021) 'The impact of eWOM on consumer brand engagement', Marketing Intelligence and Planning, 39(3), pp. 469-484. Available at: https://doi.org/10.1108/MIP-06-2020-0263.
Suhartanto, D. et al. (2020) 'Tourist loyalty in creative tourism: the role of experience quality, value, satisfaction, and motivation', Current Issues in Tourism, 23(7), pp. 867-879. Available at: https://doi.org/10.1080/13683500.2019.1568400.
Sulthana, A.N., and Vasantha, S. (2019) 'Influence of electronic word of mouth eWOM on purchase intention', International Journal of Scientific and Technology Research, 8(10), pp. 1-5.
Wijaya, B. and Yulita, H. (2020) 'Effect of Emotional Experience, Electronic Word of Mouth, Reputation, Customer Satisfaction on Loyalty', Ilomata International Journal of Management, 1(4), pp. 215-227. Available at: https://doi.org/10.52728/ijjm.v1i4.164.
Zhang, D. et al. (2021) 'Exploring the impact of corporate social responsibility communication through social media on banking customer e-wom and loyalty in times of crisis', International Journal of Environmental Research and Public Health, 18(9). Available at: https://doi.org/10.3390/ijerph18094739.
Zikmund, W., Babin, B. J., Carr, J. C., & Griffin, M. (2009). Business Research Methods, 8th Ediiton. South-Western College Pub.
Zulkarnaen, W., Amin, N. N. (2018). Pengaruh Strategi Penetapan Harga Terhadap Kepuasan Konsumen. Jurnal Ilmiah MEA (Manajemen, Ekonomi, & Akuntansi), 2(1), 106-128
Published
2023-04-04
How to Cite
Tasya, A., & Marsasi, E. (2023). THE EFFECT OF PERCEIVED VALUE AND EWOM ON LOYALTY IN THE INDUSTRY CONSUMER GOODS BASED ON EQUITY THEORY. Jurnal Ilmiah Manajemen, Ekonomi, & Akuntansi (MEA), 7(1), 236-252. https://doi.org/10.31955/mea.v7i1.2867
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Articles
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