Publication History
Published: March 01, 2023
Identification
D-0036
Citation
Oziengbe Scott, Hezekiah, Ogundipe , & Busola Folake (2023). The impact of paid promotions on customer satisfaction with the mediating role of co-creation of customer value and moderating role of customer loyalty. Dinkum Journal of Economics and Managerial Innovations, 2(03):132-143.
Copyright
© 2023 DJEMI. All rights reserved
132-143
The Impact of Paid Promotions on Customer Satisfaction with the Mediating role of Co-creation of Customer Value and Moderating Role of Customer LoyaltyOriginal Article
Dr. Oziengbe Scott, Hezekiah1, Ogundipe 2, and Busola Folake 3*
- Covenant University, Nigeria; oziengbeaigheyisi@gmail.com
- University of Ibadan, Nigeria; hezekiahogundipe@gmail.com
- University of Ibadan, Nigeria; busolafolake@gmail.com
* Correspondence: busolafolake@gmail.com
Abstract: One of the most important parts of marketing is promotion. Price promotions are effective in terms of generating traffic generation and have a short-term positive effect on brand performance as brand-loyal customers are made less sensitive to price by Paid promotions. Unpaid promotions comprise free samples, free gifts, sweepstakes, contests, etc. More often, unpaid promotions are endorsed as contributing to strengthening brand equity. The study looks at how customer satisfaction is affected by paid and free promotions. This study’s main goal is to find out how customer value creation affects paid and unpaid promotions to improve customer satisfaction. The study will also investigate the importance of long-term customer relationships in maintaining a healthy equilibrium. A survey was given to N=580 consumers in New Delhi, and the results were representative of the number of people who buy clothing brands. The survey participants included both men and women. The results were analyzed employing a technique known as Smart-PLS, which stands for Partial Least Square. According to the findings, both paid and unpaid promotions had a significant impact on the level of customer satisfaction achieved by the business. This was accomplished through the generation of value for the customer and an increase in the customer’s commitment to the brand. The paid promotion has a tendency to have less of an effect on customer satisfaction and loyalty than free promotion does. This is something that can be improved upon by making customers feel as though they are receiving something of value from promotional messages. Free promotion is just as important to maintaining loyal customers as it is to attracting new ones. This article would be helpful for managers in India to find ways to come up with and develop persuasive promotional strategies to improve customer satisfaction through paid and unpaid promotion and to enjoy sustainable competition. The article can be found here. In addition, the findings of this research demonstrated how businesses could enhance their systems for managing brand equity by taking into account the connection that exists between sales promotion and the level of customer satisfaction achieved through the development of customer value.
Keywords: paid promotions, unpaid promotions, customer loyalty
- INTRODUCTION
Customer satisfaction is considered the principal precedence for almost every organization. As a significant asset, research focuses on the ways to understand how to build, measure, and manage it. Also, developing more observations into customer satisfaction [1]. Customer value creation is therefore important to examine the source’s top rank in developing and impacting customer satisfaction [2]. It gives managers the ability to determine which drivers play a role in increasing customer satisfaction and which drivers negatively affect performance. This study investigates the connections between one component of a marketing mix—specifically, sales promotions—and the level of satisfaction experienced by customers [3]. In particular, the study focuses on the mediating effect of customer value creation, as well as strengthening the relationships between sale promotion activities and customer satisfaction. The concept of sales promotions that add up to customer satisfaction can positively flourish customer value, which is defined as a customer ‘getting (benefits) relative to what they have to give up (costs or sacrifices).’ [4] Customer value can be positively flourished by the idea that sales promotions add up to customer satisfaction. The creation of value for the customer is recognized as an essential concept in marketing and is regarded as a solid foundation for all activities related to marketing. In addition, the literature acknowledges the significance of value creation in the process of constructing customer satisfaction through the use of the marketing mix. Nowadays, in India, clothing trends and styles have changed [5]. The causes of this radical change are advancements in technology, an increase in household and clothing expenditures, and a change in the social behavior of people. We may notice some new brands in the clothing market, particularly women’s and men’s clothing brands. Paid promotions are perceived as a saving or loss reduction reward. Satisfaction or dissatisfaction associated with the price promotion is linked with each other [6]. Brand loyalty and increase in sales outcome are the components resulting in using free sample promotion because the retention rate increases when they initially have tried the brand sample, so it results into being potential for purchase acceleration and a likelihood that other prospective customers who weren’t able to try the sample would want to go for the brand straight [7]. This research explores the relationships between a marketing mix element, i.e., paid promotion and customer satisfaction along with Customer Loyalty. Specifically, the research concentrated on the mediating role of customer value creation. Furthermore, the study examines the effects of paid and unpaid sales promotions on customer value creation to develop or improve customer satisfaction [8]. This research builds on the framework by examining in-depth marketing communication tools’ effect on customer satisfaction. Unlike previous research that has simply studied the influence of marketing mix elements on brand equity, this research introduces a mediator, customer value creation, which has been neglected in research
- LITERATURE REVIEW
Much research has been conducted on different dimensions to conceptualize and measure customer satisfaction [9]. As a matter of fact, marketing mix elements hold great value in the emergence of customer satisfaction. Paid promotion, among them, referred to as cost/sacrifice value, contributes to customer value creation and significantly affects customer satisfaction. The individual contributions of sales promotions to value creation have yet remained unclear and create a research gap, whereas, despite the supremacy of the customer marketing concept, customer value research is also emerging and in the early stage of conceptual development in India [10]. Thus, this analysis explains the role of monetary and unpaid promotion in customer value creation which contributes to creating customer satisfaction [11].
2.1 Paid Promotions
Paid or price promotion is a tool that enables customers to buy the product at a relatively lower price than usual; the commonly used monetary promotion types are coupons, rebates, and discounts [12]. Paid promotions are efficient in terms of generating traffic generation, and they have had a short-term positive effect on brand performance. This is because paid promotions make brand-loyal customers less price sensitive, which in turn improves brand performance. According to what researchers have figured out, customers tend to focus on the promotional patterns of a brand, modeling their purchasing patterns and regularly purchasing according to those patterns [13]. According to a study on consumers’ preferences regarding immediate gratification versus long-term gain, paid benefits that are considered instant reward offers, such as price packs and premiums, are preferred by consumers over delayed reward opportunities. Here, societal norms were considered to be the main possible influence on this preference. It is presumed that improving product features do not adversely affect its other features, including free premium and sweepstakes are helpful only in short-term sales boosting [14]. Paid promotions are not as operative in creating brand knowledge due to focus on the one brand relations (price) and this makes the customer think about the deals related to the brands and not the actual product offering, so proposing low prices is problematic for the brand. Many analysts provide their research arguing against this promotional type and explaining its adverse effects, as it is said that brand image is negatively affected by Paid promotions, yet, this is an important tool for attracting a large blog of customers [15]. It is argued that low preference price affects the perceived brand price, and on the whole, brand equity is affected; it is observed that a consumer associate the brand as a low-quality commodity when the only information they have about the product is price because then they are likely to make price-quality inferences [16]. Price promotions are used more often. They make consumers link the brand with low-quality attributes, which in return weakens the brand equity, so it is said that Paid promotions lead consumers to think about the deal of the brand and not the utility associated with the brand primarily especially when these types of promotions are used frequently [17].
2.2 Unpaid Promotion
Unpaid promotions comprise free samples, free gifts, sweepstakes, contests, etc. More often, unpaid promotions are endorsed as contributing to strengthening brand equity. They improvise the brand image in the long term by producing points of disparity for the brand [19]. Unpaid promotions show more favorable attributes awards towards brand equity creation explained the benefits with an example that consumer mindset sees unpaid promotions as a gain (Buy on get one free offer). Non-monetary promotions help to progress the brand equity in long term by generating differentiation and helping the brand preserve a competitive position, improving product differentiation, and maintaining brand loyalty are the outcomes of unpaid promotions [20]. It is considered that some promotional offers, such as bonus packs, samples, sweepstakes, and premiums, add value to the product, whereas other offers, including discounts, are merely considered as reducing the price, and due to this understanding, promotions also have effects on reference price. Non-monetary promotions are perceived as a gain by the consumers creating customer value with advantages of noticeable difference; unpaid also have vast acceptability choice as compared to monetary promotions [21].
2.3 Customer Value
There are some general arguments in previous research focusing on the distinction between quality and value. Consumer characterizes customer value creation in terms of utility and its appraisal explaining what has been gotten in return for what was given [22]. Perceived quality is positively related to perceived value. Perceiving a brand name or logo can prompt positive consumer evaluations as far as considering a product as great value for cash or a decent deal [23]. A more elevated amount of brand awareness decreases the consideration set. Likewise, it is more probable that consumers will purchase natural products and are all the more eager to pay a premium price. Consequently, brand awareness should positively influence perceived value [24]. A higher perceived quality, for some individuals, is the motivation to purchase an item, and some would likewise pay a premium price. Brand loyalty impact positively on consumer value. Loyal consumers perceive the good advantage or cost opportunity [25].
2.4 Customer Satisfaction
In the light of previous studies define satisfaction as a general appraisal in terms of cumulative buy and consumption experiences and desire to repurchase after some time [26]. Satisfaction is also discussed by fulfillment as pleasurable satisfaction, which is detected by clients in the utilization. Customer recognition of products or services has been, for the most part, used to measure customer satisfaction. According to five emotions perceived by customers below are acceptable: Satisfaction: The things can be recognized or persevered, Content: The things convey people with a constructive and happy experience. Relieved: The things empty people’s contrary state, Novelty: The things convey people with freshness and invigoration. Surprise: The things make customers shockingly fulfilled.
H1: There is a relationship between Paid promotion and customer satisfaction.
H2: There is a relationship between unpaid promotion and customer satisfaction.
H3: There is a relationship between Customer loyalty Creation and customer satisfaction.
H4: There is a relationship between paid promotion and customer Loyalty.
H5: There is a relationship between unpaid promotion and customer Loyalty.
Figure 01: Conceptual Model
- MATERIALS AND METHODS
For hypotheses testing, the data was collected from a survey of 580 consumers. This empirical research is based on the product category of clothing. Consumers using any brand from this product category were considered to fill in the survey form. Data collection took place at several clothing brand stores, both male and female, aged from 15 to 70 years, in New Delhi, India. An extensive review of prior literature provided the basis for selecting the measures for the marketing communication tool, i.e., promotion, customer satisfaction and customer value creation, and customer loyalty. The respondents were asked to assess all items on five-point Likert-type scales ranging from 1(Strongly agree) to 5 (strongly disagree). This study measures Paid and unpaid promotions adopted and modified by scale proposed by customer value creation and customer satisfaction. Five items are used to measure Paid promotion, five items to measure unpaid promotion, six items for customer value creation, and three items for customer satisfaction. Quantitative collected data was analyzed through the Structure Equation Modeling technique. The reason behind the selection of this is that the present research is a combination of a variety of theories, so in these situations, Structure Equation Modeling is the best way to obtain results. It is also a valid and reliable technique to validate the instrument and reliability of data along with hypotheses testing. For this technique, the present research uses SmartPLS software for testing reliability, validity, factorial analysis under CFA, and at the end, hypotheses testing through bootstrap analysis by using 500 samplings. The appropriate factor loading value for valid constructs should be > 0.700. Cross-factor loading value in the PLS-SEM technique was used to check the discriminant validity.
- RESULTS AND DISCUSSION
4.1 Convergent Validity and Reliability Analysis
Starting from the first test, which is regarding the convergence of variables and items, here convergent validity concept is discussed as the initial stage for validation. This concept says that items and variables should be correlated to a certain limit which shows that researchers can integrate these different variables into one model [27]. The literature further provides its measuring tool by considering Factor Analysis and Average Variance Extracted formulation for testing the goodness of convergent validity. Next, reliability is discussed as the tool to check the consistency of data as it is tested from time to time. This present study considers two criteria such as Cronbach’s Alpha and Composite Reliability [28]. As discussed earlier that regarding the initial test of reliability and convergent validity, results are shown in Table 1. Starting from factor analysis, its criteria are that the value should be greater than 0.7, and those items which are not meet the criteria should not be considered for further analysis.
Table 01: Construct Reliability and Measurement Model Result
Latent Variables | Measurement Items | Loading Value | Average Variance Extracted | Cronbach Alpha | Composite Reliability |
Paid Promotions |
MP1 MP2 MP3 MP4 MP5 MP6 | 0.862
0.870 0.866 0.885 0.865 0.838 |
0.747 |
0.932 |
0.947 |
Unpaid Promotions |
NMP1 NMP2 NMP3 NMP4
NMP5 |
0.827
0.833 0.865 0.787 0.819 |
0.683 |
0.884 |
0.915 |
Customer Value |
CV1 CV2 CV3 CV4 CV5
CV6 |
0.888
0.882 0.883 0.882 0.858 0.786 |
0.747 |
0.932 |
0.946 |
Customer Satisfaction | CS1 CS2 CS3 | 0.921
0.928 0.920 |
0.852 |
0.913 |
0.945 |
In the present table, values of reliable items are shown, which are between 0.787 to 0.928, showing the goodness of factor analysis. Next, AVE is shown in the table for each variable [29]; as per the criteria, its value should be greater than 0.5; in the present research, all variables have good enough values to support the convergent validity of data. Lastly, two aspects of reliability are discussed Cronbach’s Alpha and Composite Reliability [30]. The composite reliability of all constructs is as MP=0.947, NMP=0.915, CV=0.946, and CS= 0.945. Showing that values are higher than 0.7 supporting the reliability statistics of data.
4.2 Discriminant Validity
The next type of validity is discriminant validity which talks about the existence of discrimination or difference between concepts or questions; simplifying it, discriminant validity talks about variables and items that should be theoretically different and have their own concept or worth in the model [31]. It is measured through Cross loading analysis and Fornell-Larcker criteria. Another check of validity is that fornell-larcker is basically the square root of each value of AVE with respect to each variable
Table 02: Discriminant Validity of Constructs
CS | CV | MP | NMP | |
CS | 0.923 | |||
CV | 0.645 | 0.864 | ||
MP | 0.704 | 0.768 | 0.865 | |
NMP | 0.531 | 0.697 | 0.468 | 0.826 |
Table 2 shows the results of the Fornell-larcker criteria; here threshold is the upper diagonal value of the table, which for the variable has its own maximum as well as higher than 0.7 [32]. Here the values are between 0.826 as a minimum for NMP and 0.923 as a maximum for CS; all remaining values are lesser than these values, which shows the goodness of the criteria.
4.3 PLS-SEM Path Analysis
Next is measuring the structure model through path algorithm analysis for the causal relationship between the model’s proposed hypotheses. Results shown in Figure 1 show the causal relationship in the inner model, while factor analysis results in the outer model [34]. The findings of analysis reveal that if other aspects persist constant, with one unit increased in monitory promotions, it’s increased customer value by 0.193. Similarly, with a change in one unit of non-monitory promotions, it will bring a 0.749 unit change in customer value.
Figure 02: PLS-SEM Path Analysis Results
The findings of analysis reveal that if other aspects persist constant, with one unit increase in monitory promotions, it increases customer satisfaction by 0.068. Similarly, with a change in one unit of non-monitory promotions, it will bring 0.346 units of change in customer satisfaction. If another aspect persists constant, with one unit increase in customer value, it increases customer satisfaction by 0.482 [35]. All positive values in path analysis represent that increasing error must be minimum. See, table 3 also supports path analysis by showing their P-value, path coefficients, and T- statistic value. The last analysis is about hypotheses testing through bootstrap analysis, which generates the P values and T statistics of data. Here the goodness criteria are that the T value should be greater than 1.96 for acceptance of the hypothesis under the probability or P value less than 0.05.
Figure 03: PLS-SEM Path Significance
Figure 3 shows the results of bootstrap analysis for the inner as well as for the outer model, but for testing the hypotheses T value of the inner model should be greater than 1.96. Here all the relationships have significant values just between MP and CS by having 0.886 values which are not up to the mark.
Hypotheses | Standardized β (t) |
(H1) Paid Promotion —> Customer Satisfaction | 0.07 (0.89) |
(H2) Unpaid Promotion —> Customer Satisfaction | 0.346* (3.23) |
(H3) Paid Promotion —> Customer Loyalty | 0.193* (3.04) |
(H4) Unpaid promotion —> Customer Loyalty | 0.749** (15.76) |
(H5) Customer Value > Customer Satisfaction | 0.482** (6.25) |
** P < 0.05 * P < 0.01
The path coefficient between Paid promotion and customer satisfaction is .068, the positive value of the path coefficient shows that the positive association among the variables MP and CS exists. While the significance value .376 > .05 does not support our hypothesis H1 and explains that even on a large scale, Paid promotion cannot increase customer satisfaction. Path coefficient values show a weak relationship among the variables monitory promotions and customer satisfaction [36]. The path coefficient between non-monitory promotions and customer satisfaction is .346; the positive value of the path coefficient shows that the positive association between the variable NMP and CS exists [37]. The significance value is .001 which is < .05. So, results support our hypothesis H2 and explain a moderate relationship among the variables non-monitory promotions and customer satisfaction. Monitory promotions and customer value are .193, and the positive value of the path coefficient shows a positive association among the variables MP and CV. The significance value is .002, which is less than .05, so the results support our hypothesis H3. The path coefficient between non-monitory promotions and customer value is 0.749 [38]; the positive value of the path coefficient shows that a positive association between NMP and CV exists. The significance value is .000, which is less than .05 so results support our hypothesis H4 and explain that unpaid promotion can strongly impact creating value for customers [39]. Customer value creation seems to play an important role in enhancing customer satisfaction. As such, customer value creation has a positive, i.e. (.482) and significance value (.00) < .05, so results support our hypothesis H5
- CONCLUSIONS
Companies believe that measuring the level of satisfaction of their customers is the best way to evaluate the success of any brand. Therefore, it is essential to have a solid understanding of the primary factors that contribute to, as well as detract from, the satisfaction of customers. This study shows that customer value creation is a key indicator in sale promotion activities to enhance customer satisfaction that mediates the impact of Paid and unpaid sales promotion significantly, on customer satisfaction. According to the findings, the direct effect of paid and unpaid promotion on intention to comply is (=.07) and (=.346), respectively; however, the mediator of customer value creation improves this impact to (=0.482). According to the findings of previous research, the effect of sale promotions on the level of satisfaction experienced by customers varies depending on the type of promotional tool that is employed. The findings also supported the idea that when customers are offered paid promotions (such as price reductions), they develop a negative perception of the product and are less satisfied with it. On the other hand, when customers are offered unpaid promotions (such as gifts), they develop a positive perception of the quality of the brand and the associations it has. In this case, the importance of customer value creation is made clear by the empirical research that shows how increasing customer satisfaction can be accomplished by fostering the customer’s perception that they are receiving value. Therefore, in order for companies to cultivate a favorable perception of their brands, they need to make an effort to increase the value they provide to customers by employing innovative and persuasive marketing strategies. As a result of which, the insignificant effects of Paid promotion can be reversed into positive and significant ones, whereas the impact of unpaid promotion on customer satisfaction is empirically enhanced. The findings provide a foundation for a number of different managerial implications. To begin, it will assist business managers in Pakistan in conceiving and developing methods for persuasive promotion. Strategies to improve customer satisfaction through paid and non-monetary promotion, with the goal of enjoying a sustainable level of competition. In addition, the findings provide in-depth insight into organizations that are formulating strategies to enhance the brand equity management process. This can be accomplished by better comprehending the mechanism that is at play in the relationships that exist between sale promotion and customer satisfaction through the process of customer value creation. Second, it provides an insight into the impact promotional strategies can be made on bringing change in consumer perception for customer satisfaction. According to the findings of this study, the repeated use of price promotions may have the potential to lower levels of customer satisfaction, despite the fact that such practices are widely used these days in an effort to boost short-term profits. Therefore, brand managers need to exercise caution when developing persuasive strategies and delivering persuasive promotional messages in order to create value for their customers. The study was also limited to the clothing category only brand. Further, the findings can be extended by considering multiple product categories. Secondly, the study was conducted within one city. So, future research should consider the applicability of findings in other countries and cultures, as well. Despite the limitations, the research findings counted in this paper weigh in contribute to the literature and open new doors by offering some new intuitions that help managers to manage this crucial intangible asset.
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Publication History
Published: March 01, 2023
Identification
D-0036
Citation
Oziengbe Scott, Hezekiah, Ogundipe , & Busola Folake (2023). The impact of paid promotions on customer satisfaction with the mediating role of co-creation of customer value and moderating role of customer loyalty. Dinkum Journal of Economics and Managerial Innovations, 2(03):132-143.
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