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The Relationships among Marketing Forces, Corporate Brand Equity, Trust, and Customer Loyalty: An Empirical Study of Taiwan Lumber Import Market Tse-Wen Hsieh, Tsui-Ying Huang, and Jun-Yen Lee. Presented by Jun-Yen Lee, Ph.D. Professor, Department of Bio-industry & Agribusiness Administration - PowerPoint PPT Presentation
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The Relationships among MarketingForces, Corporate Brand Equity, Trust, and Customer Loyalty:An Empirical Study of Taiwan Lumber Import Market
Tse-Wen Hsieh, Tsui-Ying Huang, and Jun-Yen Lee
Presented by Jun-Yen Lee, Ph.D.Professor, Department of Bio-industry & Agribusiness Administration
National Chai-Yi University, TaiwanEmail:[email protected]
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INTRODUCTION
The importance of customer loyaltyCan the marketing forces lead to customer loyalty?What are the mediators in this relationship?
Background
Objectives
To understand the relationships of marketing forces, corporate brand equity, trust, and customer loyaltyTo explore the mediating effects of corporate brand equity and trust
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1. Marketing forces
Kotler (1999) ； McCarthy (1960) ； Booms and Bitner(1981)
2. Corporate brand equityMudambi (1997) ； Allard et al. (2005)
3. Trust Sako (1992) ； Anderson and Narus (1990) ； Moorman et al. (1993) ；
Morgan and Hunt (1994)
4. Customer loyalty Oliver (1997) ； Rubinson (1996) ； Simeon Chow (1997) ； Chaudhuri and Holbrook (2001) ； Taylor(2004)
LITERATURE REVIEW
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Customer
loyalty
Trust
Brand equit
y
Marketing forces
H1
H2
Aaker(1991)
H6
Taylor(2004)
H3
Allard(2005)
H4
H5
MODEL
Conceptual model
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Trust
Brand equity
Marketing forces
H9
Customer loyalty
H7
H8
MODELRival model
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• Samples ： 259 companies• Survey method: questionnaire sent by mail and e-mail• Data analysis method: Structure Equation Modeling (SEM)
Mail E-mail Total
Sent 159 100 259
Responses 62 12 99
Follow-up returns
25
Response rate (%)
38.2％
Valid questionnaire
89
METHOD
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Characteristics Items Frequencies
Job position 1. CEO2. Purchase manager3. others_____
274319
Sales/yr 1. less than $5 million (or U.S. $ 170 thousands)
2 $5million~$10 million3. More than $20 million
12151349
Operating term 1. less than 10 years2. 11~15 years3. 16 ~20 year4. More than 21 years
18172232
Work experience 1. Less than 5 years2. 5-10 years3. 10-15 years4. 15 years
12181445
Respondent status
EMPERICAL RESULTS
Descriptive statistics
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Reliability and validity analysis1. Reliability ：
Constructs Cronbach’s αMarketing forces (4 Items) 0.903
Corporate brand equity (4 Items) 0.890
Trust (3 Items) 0.749
Customer loyalty (5 Items) 0.892
EMPERICAL RESULTS
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2. Validity ：– Content validity– Construct validity ： Validating by the Confirmatory factor
analysis( CFA)
EMPERICAL RESULTS
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1. Brand equity : 2. Marketing forces ： Construct validity analysis
CMIN/DF=0.043 , GFI=1.000 , CFI=1.000 , RMSEA=0.000 ˇ ˇ ˇ ˇ
CMIN/DF=0.877 , GFI=0.941 , CFI=1.000 , RMSEA=0.000 ˇ ˇ ˇ ˇ
EMPERICAL RESULTS
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.54
trust35et5
.70
trust36et6
.67
trust37et7
trust
.83
.73
.82
3. Trust: 4. Customer loyalty
CMIN/DF=0.157 , GFI=0.999 , CFI=1.000 , RMSEA=0.000 ˇ ˇ ˇ ˇ
MIN/DF=0.742 , GFI=0.987 , CFI=1.000 , RMSEA=0.000 ˇ ˇ ˇ ˇ
EMPERICAL RESULTS
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5. Construct validity analysis for whole constructs
MIN/DF=1.470 , GFI=0.840 , CFI=0.944 , RMSEA=0.073 ˇ ˇ ˇ ˇ
EMPERICAL RESULTS
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Goodness of fit and Hypotheses tests 1. Conceptual model
mf
.51
PROMOTIOep4
.23
PRICEep3.48
.29
PLACEep2 .54
.59
PRODUCTep1
.35
trust
.59
TRUST35
et1
.69
TRUST36
et2
.83
.67
TRUST37
et3
.82
.36
be
.60
BA4
eb4
.75
BA3
eb3
.87
.76
BA2
eb2
.72
BA1
eb1
.65
cl
.86
LA1 eca1.93
.85 .87
.84
LA2 eca2.92
CFI=.944GFI=.840
.37
LA4 eca3.61
.72
.77 .47 .10
.48.60
et
ecl
eaw
.77
.41
LB2 ecb2.64
.36
LB4 ecb4
.60.55
.77
.35.18
MIN/DF=1.470 , GFI=0.840 , CFI=0.944 , RMSEA=0.073
EMPERICAL RESULTS
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2. Adjusted model-ModelⅠ
mf
.52
PROMOTIOep4
.23
PRICEep3.47
.28
PLACEep2 .53
.57
PRODUCTep1
.37
trust
.59
TRUST35
et1
.69
TRUST36
et2
.83
.67
TRUST37
et3
.82
.40
be
.60
BA4
eb4
.75
BA3
eb3
.86
.76
BA2
eb2
.73
BA1
eb1
.65
cl
.86
LA1 eca1.93
.85 .87
.84
LA2 eca2.91
CFI=.944GFI=.840
.37
LA4 eca3.61
.72
.76 .61 .09
.47.63
et
ecl
eaw
.77
.41
LB2 ecb2.64
.36
LB4 ecb4
.60.55
.78
.37
MIN/DF=1.460 , GFI=0.840 , CFI=0.944 , RMSEA=0.073
EMPERICAL RESULTS
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3. Adjusted model- ModelⅡ
mf
.50
PROMOTIOep4
.23
PRICEep3.48
.30
PLACEep2 .54
.61
PRODUCTep1
.36
trust
.59
TRUST35
et1
.68
TRUST36
et2
.82
.67
TRUST37
et3
.82
.38
be
.60
BA4
eb4
.75
BA3
eb3
.86
.75
BA2
eb2
.73
BA1
eb1
.60
cl
.85
LA1 eca1.92
.85 .87
.85
LA2 eca2.92
CFI=.937GFI=.835
.37
LA4 eca3.61
.70
.78 .50 .24
.63.62
et
ecl
eaw
.77
.41
LB2 ecb2.64
.35
LB4 ecb4
.59.56
.77
.15
MIN/DF=1.521 , GFI=0.835 , CFI=0.937 , RMSEA=0.077
EMPERICAL RESULTS
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4. Adjusted model- ModelⅢ
mf
.50
PROMOTIOep4
.23
PRICEep3.48
.28
PLACEep2 .53
.59
PRODUCTep1
.38
trust
.59
TRUST35
et1
.68
TRUST36
et2
.83
.67
TRUST37
et3
.82
.41
be
.60
BA4
eb4
.74
BA3
eb3
.86
.75
BA2
eb2
.73
BA1
eb1
.60
cl
.85
LA1 eca1.92
.85 .87
.85
LA2 eca2.92
CFI=.937GFI=.834
.36
LA4 eca3.60
.71
.77 .62 .25
.64.64
et
ecl
eaw
.77
.41
LB2 ecb2.64
.35
LB4 ecb4
.59.56
.77
MIN/DF=1.515 , GFI=0.834 , CFI=0.937 , RMSEA=0.076 ˇ ˇ ˇ ˇ
EMPERICAL RESULTS
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5. Rival model
MIN/DF=1.929 , GFI=0.796 , CFI=0.886 , RMSEA=0.103
mf
.44
PROMOTIOep4
.23
PRICEep3.48
.36
PLACEep2 .60
.62
PRODUCTep1 trust
.57
TRUST35
et1
.68
TRUST36
et2
.83
.69
TRUST37
et3
.83
be
.61
BA4
eb4
.75
BA3
eb3
.86
.76
BA2
eb2
.71
BA1
eb1
.54
cl
.82
LA1 eca1.90
.84 .87
.80
LA2 eca2.90.31
LA4 eca3.55
.66
.79 .19
.60
ecl
.75
.35
LB2 ecb2.59
.30
LB4 ecb4
.54.56
.78
.37
↓ ㄨ↓ ↓
EMPERICAL RESULTS
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Research hypotheses Hypotheses
Path
Standardized estimates
Descriptions Conceptual
modelModelⅢ
H4:H4: Marketing forces are positively related to trust.
mf trust 0.469 ＊＊ 0.617 ＊＊＊
H3:H3: Marketing forces are positively related to brand equity.
mf be 0.603 ＊＊＊ 0.642 ＊＊＊
H6:H6: Trust is positively related to customer loyalty.
trust cl 0.096 0.252 ＊＊
H2:H2: Brand equity is positively related to customer loyalty.
be cl 0.478 ＊＊＊ 0.640 ＊＊＊
H1: Brand equity is positively related to trust. be trust 0.178 ------------
H5: Marketing forces are positively related to customer loyalty.
mf cl 0.353** ------------
EMPERICAL RESULTS
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Conclusions-Hypothesis tests show that marketing forces are positively related to
corporate brand equity and trust.
-Also, trust and corporate brand equity are positively related to customer loyalty, respectively.
-Corporate brand equity and trust are the mediating factors between marketing forces and customer loyalty.
-Corporate brand equity has higher effect on customer loyalty than trust has.
-To increase wood raw material buyers’ loyalty, the suppliers should build brand equity and customer trust.
CONCLUSIONS
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Thank you!
