Research on the Influences of Customer Perceived Value on Customer Loyalty ─ A Case Study of Xiaomi Company

Weinien Chen; Li, Wen- Xuan

Weinien Chen Faculty of Business, City University of Macau, Macau
Li, Wen- Xuan Faculty of Business, City University of Macau, Macau

Keywords: Customer Perceived Value; Customer Loyalty; Xiaomi Company

Abstract

With the improvement of living standards, cellphones have been replaced more frequently. Manufacturers of smart products must maintain a high level of customer satisfaction and loyalty to achieve sales targets. The important marketing goal of modern companies is constantly improving customer satisfaction and loyalty to expand the number of loyal customers. This paper proposes the components of customer perceived value based on the analysis of the relevant literatures on customer perception theory, which are functional value, emotional value, social value, price value, relationship commitment value, and access convenience. Taking Xiaomi as a case, this paper puts forward a marketing strategy to improve customer loyalty from the perspective of customer perceived value. Through this study, social value, emotional value, price value, and relationship commitment value have a significant positive effect on attitude loyalty and behavioral loyalty; functional value does not have a significant positive effect on the attitude loyalty and behavioral loyalty of general consumers; access convenience only has a significant positive effect on behavioral loyalty but has no significant positive effect on attitude loyalty. To enhance customer loyalty, social value, emotional value, price value, and relationship commitment value should be strengthened. However, if customers are expected to not only have their attitude loyalty, but also actually take actions to generate behavioral loyalty, in addition to strengthening social value, emotional value, price value, and relationship commitment value, companies should also focus on improving access convenience.

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