The Effect of Customer Value, Customer Satisfaction and Switching Costs On Customer Loyalty An Empirical Study Of Hypermarkets In Taiwan

Summary This is a summary of the article â€Å"The Effect of Customer Value, Customer Satisfaction, and Switching Costs on Customer Loyalty: An Empirical Study of Hypermarkets in Taiwan, by the authors Tsai, Ming-Tien;  Tsai, Chung-Lin;  Chang, and Han-Chao†. The study was conducted in Taiwan focusing on hypermarkets in retail industry sector, due to their increasing importance in the country. This paper is going to address these three aspects and their interrelationships.Advertising We will write a custom research paper sample on The Effect of Customer Value, Customer Satisfaction and Switching Costs On Customer Loyalty: An Empirical Study Of Hypermarkets In Taiwan specifically for you for only $16.05 $11/page Learn More The retail industry in Taiwan is very competitive and as a result, the hypermarkets offer low prices to their products than the micro- retailers and convenience stores in order to attract more customers. Even though, the hype rmarkets are incurring losses due to saturation of markets, thus a lot of effort is directed towards cutting on costs, retaining consumers, and widening profit margins. Tsai, Tsai, and Chang are of the opinion that satisfaction on a customer is key to success of any business. A consumer is always reflecting on goods and services that maximize on value (Tsai, Tsai and Chang 730). According to Tsai, Tsai and Chang, a customer’s satisfaction is more likely to be increased if the value of goods and services satisfy his/her expectations, thus leading to increased consumption. Thus, an entrepreneur should look out at customer’s value from a customer’s perspective to lessen the disparity between these two perceptions. Consumer satisfaction is a dissimilar function between discernment and expectation, and it is instinctively affirmative or negative feeling. In order to develop suitable responses, studies and researches should focus efforts on accurate measurement of the level of consumer satisfaction (Tsai, Tsai and Chang 731). Customer loyalty on the other hand refers to the likelihood of his/her continued future consumption, service contracts, less possibility of changing a brand and affirmative recommendation to the public. Two types of consumer loyalty are identified namely; long- term consumer loyalty, which is considered a genuine loyalty and short- term loyalty, which describes the likelihood of a consumer to change business operators. This describes the level of competitiveness in a liberal market economy. The fact that a loyal customer is likely to bring more customers to a business makes entrepreneurs consider loyalty a major boost. Customer loyalty could be measured in terms of recurrent intention to purchase and tolerance in price variations (Tsai, Tsai and Chang 732).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Switching cost the ory generally is described as sacrifices or consequence penalties consumers sense they may sustain by changing entrepreneurs. It is considered as the substantial cost sustained as a result of switching service provider. Three main variable varieties describe switching cost theory. They include: 1) Switching costs that are inclined to time (2) switching costs that are financial in nature and related to profit; and (3) switching costs that define an emotional relationship. Both a consumer and an entrepreneur are vital subjects in determining switching cost. Higher costs of consumer switching are have a probability of highlighting the relationship between satisfaction of a consumer and loyalty of the consumer. This connection characterizes an investment of vital aspects by a consumer linked to resources, efforts, and time involved and presents a hindrance to a dissatisfied customer who wishes to switch suppliers (Tsai, Tsai and Chang 733). This study sought to establish whether an affi rmative view of the value of a consumer value would have a positive impact on satisfaction of a customer, and whether switching costs as the moderating variable would have an impact on the value of consumer relating it to the his/her loyalty(Tsai, Tsai and Chang 734). The inter-relating effects between variables (consumer satisfaction, customer values, customer loyalty and switching costs) were investigated using regression analysis to authenticate the assumptions based on cause and effect correlation(Tsai, Tsai and Chang 736). The results obtained established that the value of a customer has a considerable affirmative impact on the loyalty of a customer. Conspicuously, service value was noted to have a greater impact on customer loyalty. Tsai, Tsai, and Chang are of the opinion that a consumer will continually approximate the optimum value of goods or services. Increasing the performance and the quality of services will not only satisfy the demand of a customer but will also appeas e the consumers and encourage a habitual intention to purchase and continued anticipated consumption.Advertising We will write a custom research paper sample on The Effect of Customer Value, Customer Satisfaction and Switching Costs On Customer Loyalty: An Empirical Study Of Hypermarkets In Taiwan specifically for you for only $16.05 $11/page Learn More In addition, the study established that opportune and appropriate services, quality, and value of products provided by entrepreneurs enhance satisfaction of a customer and encourage short- term customers into long-term associations. The study also ascertained that satisfaction of a customer has considerable positive impact on the loyalty of a customer (Tsai, Tsai and Chang 737). Critical Analysis Tsai, Ming-Tien, Tsai, Chung-Lin, Chang, Han-Chao. â€Å"The Effect Of Customer Value, Customer Satisfaction, And Switching Costs On Customer Loyalty: An Empirical Study Of Hypermarkets In Taiwan.† Social Behavior And Personality, 2010, 38(6): 729-740. Ming-Tien Tsai is a PhD, Professor, Department of Business Administration, National Cheng Kung University, Tainan, Taiwan. Chung-Lin Tsai on the other hand is a PhD Candidate, Department of Business Administration, National Cheng Kung University and staff member, Department of Finance while Han-Chao Chan is PhD, Instrument Technology Research Center, National Applied Research Laboratories, Taiwan. In their paper, Tsai et. al. review the aspects of customer value, customer satisfaction and customer loyalty and how they interact with each other for the better of the company. The market under study is the Taiwan market. They note that the Taiwanese retail market has become very competitive and the hypermarkets therefore have resorted to employing different strategies for the purposes of customer attraction and retention (p. 730). The hypotheses of relationships between customer value and loyalty, customer satisfaction and loyalty, custom er value and satisfaction and switching costs and Customer satisfaction and loyalty was used in evaluating the Taiwanese market (p. 732-734). In their analysis of these parameters of the Taiwanese market, they use regression analysis to assess the impact of customer satisfaction. Loyalty and value, and they conclude that since the competition in the market is increasing and the other methods of tackling it are proving costly. Due to the increased competition in the market and with customers looking for the best whenever they go shopping, the supplier with additional services to the existing low prices will be most preferred. For this reason, the hypermarkets have to look for ways that would be appealing to the customers and consumers, so that they may return more often. The only way would be by establishing customer loyalty where the hypermarkets would be guaranteed of a market for their products. They also note that switching costs play a significant role in the determination of cu stomer base and purchasing power (p. 738).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More An analysis of the market will be a very good move for the hypermarkets that may want to establish good relationships with the customer. Competition will lead to the prices going down and thus different strategies have to be developed to ensure competitive market advantage. One of the ways in which they could carry this out is by countering their competition in terms of prices and after-sales services. The additional services that they provide will attract the customers and this will definitely spread to a large population of the consumers via word of mouth. In this case, it is very evident that customers are not only interested in the prices of the goods and services that they pay for, but also in the type and quality that they receive. Their satisfaction with what they receive will determine their loyalty, and if they do not get value for their, they are bound to move to a different place in search of better offers! Therefore, the hypermarkets ought to maintain customer satisfacti on gauges in order to correct the areas that are a letdown to them. Hence, these companies have to set up quality assessment modules that will enable them to gauge their rating as a company and where they stand in terms of market-competition and customer loyalty. Work Cited Tsai, Ming-Tien, Tsai, Chung-Lin and Chang, Han-Chao. â€Å"The effect of customer value, customer satisfaction and switching costs on customer loyalty: an empirical study of hypermarkets in Taiwan.† Social Behavior and Personality,  38.1(2010):729-738. This research paper on The Effect of Customer Value, Customer Satisfaction and Switching Costs On Customer Loyalty: An Empirical Study Of Hypermarkets In Taiwan was written and submitted by user Kathleen Rojas to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Hexapods Are a Diverse Group of Six-Legged Arthropods

Hexapods Are a Diverse Group of Six-Legged Arthropods Hexapods are a group of arthropods that include more than one million described, species, most of which are insects, but a handful of which belong to the lesser-known group Entognatha. In terms of the sheer number of species, no other family of animals comes close to the hexapods; these six-legged arthropods are, in fact, over twice as diverse as all other vertebrate and invertebrate animals combined. Most hexapods are terrestrial animals, but there are some exceptions to this rule. Some species live in aquatic freshwater habitats such as lakes, wetlands, and rivers, while others inhabit coastal marine waters. Hexapods Avoid Sub-Tidal Marine Areas The only habitats that hexapods avoid are sub-tidal marine areas, such as oceans and shallow seas. The success of hexapods in colonizing land can be attributed to their body plan (especially the strong cuticles covering their bodies that provide protection from predators, infection and water loss), as well as their flying skills. Another successful attribute of hexapods is their  holometabolous development, a mouthful of a term which means that juvenile and adult hexapods of the same species are very different in their ecological requirements, immature hexapods using different resources (including food sources and habitat features) than the adults of the same species. Hexapods Are Vital But Also Pose Many Threats Hexapods are vital to the communities in which they live; for example, early two-thirds of all flowering plant species rely on hexapods for pollination. Yet hexapods also pose many threats. These small arthropods can inflict vast crop damage and are known to spread numerous debilitating and fatal diseases in humans and other animals. The body of a hexapod is made up of three sections, a head, a thorax, and an abdomen. The head has a pair of compound  eyes, a pair of antennae, and numerous mouthparts (such as mandibles, labrum, maxilla, and labium). The Three Segments of Thorax The thorax consists of three segments, the prothorax, the mesothorax, and the metathorax. Each segment of the thorax has a pair of legs, making for six legs in all (the forelegs, the middle legs, and the hind legs). Most adult insects also possess two pairs of wings; the forewings are located on the mesothorax and the hind-wings are attached to the metathorax. Wingless Hexapods Although most adult hexapods have wings, some species are wingless throughout their life cycles or lose their wings after a certain period before adulthood. For example, parasitic insect orders such as lice and fleas no longer have wings (although their ancestors of millions of years ago did have wings). Other groups, such as the Entognatha and Zygentoma, are more primitive than classic insects; not even the ancestors of these animals had wings. Many hexapods have evolved alongside plants in a process known as coevolution. Pollination is one example of a coevolutionary adaptation between plants and pollinators in which both parties benefit. Classification Hexapods are classified within the following taxonomic hierarchy: Animals Invertebrates Arthropods Hexapods Hexapods are divided into the following basic groups: Insects (Insecta) - There are more than one million species of insects that have been identified, and scientists estimate that there may be many millions more species yet to be named. Insects have three pairs of legs, two pairs of wings and compound eyes.Springtails and their relatives (Entognatha) - The mouthparts of springtails, such as the two-pronged bristletails and the proturans (or coneheads), can be retracted within their heads. All entognaths lack wings. Edited on February 10, 2017, by Bob Strauss

Hexapods Are a Diverse Group of Six-Legged Arthropods

Hexapods Are a Diverse Group of Six-Legged Arthropods Hexapods are a group of arthropods that include more than one million described, species, most of which are insects, but a handful of which belong to the lesser-known group Entognatha. In terms of the sheer number of species, no other family of animals comes close to the hexapods; these six-legged arthropods are, in fact, over twice as diverse as all other vertebrate and invertebrate animals combined. Most hexapods are terrestrial animals, but there are some exceptions to this rule. Some species live in aquatic freshwater habitats such as lakes, wetlands, and rivers, while others inhabit coastal marine waters. Hexapods Avoid Sub-Tidal Marine Areas The only habitats that hexapods avoid are sub-tidal marine areas, such as oceans and shallow seas. The success of hexapods in colonizing land can be attributed to their body plan (especially the strong cuticles covering their bodies that provide protection from predators, infection and water loss), as well as their flying skills. Another successful attribute of hexapods is their  holometabolous development, a mouthful of a term which means that juvenile and adult hexapods of the same species are very different in their ecological requirements, immature hexapods using different resources (including food sources and habitat features) than the adults of the same species. Hexapods Are Vital But Also Pose Many Threats Hexapods are vital to the communities in which they live; for example, early two-thirds of all flowering plant species rely on hexapods for pollination. Yet hexapods also pose many threats. These small arthropods can inflict vast crop damage and are known to spread numerous debilitating and fatal diseases in humans and other animals. The body of a hexapod is made up of three sections, a head, a thorax, and an abdomen. The head has a pair of compound  eyes, a pair of antennae, and numerous mouthparts (such as mandibles, labrum, maxilla, and labium). The Three Segments of Thorax The thorax consists of three segments, the prothorax, the mesothorax, and the metathorax. Each segment of the thorax has a pair of legs, making for six legs in all (the forelegs, the middle legs, and the hind legs). Most adult insects also possess two pairs of wings; the forewings are located on the mesothorax and the hind-wings are attached to the metathorax. Wingless Hexapods Although most adult hexapods have wings, some species are wingless throughout their life cycles or lose their wings after a certain period before adulthood. For example, parasitic insect orders such as lice and fleas no longer have wings (although their ancestors of millions of years ago did have wings). Other groups, such as the Entognatha and Zygentoma, are more primitive than classic insects; not even the ancestors of these animals had wings. Many hexapods have evolved alongside plants in a process known as coevolution. Pollination is one example of a coevolutionary adaptation between plants and pollinators in which both parties benefit. Classification Hexapods are classified within the following taxonomic hierarchy: Animals Invertebrates Arthropods Hexapods Hexapods are divided into the following basic groups: Insects (Insecta) - There are more than one million species of insects that have been identified, and scientists estimate that there may be many millions more species yet to be named. Insects have three pairs of legs, two pairs of wings and compound eyes.Springtails and their relatives (Entognatha) - The mouthparts of springtails, such as the two-pronged bristletails and the proturans (or coneheads), can be retracted within their heads. All entognaths lack wings. Edited on February 10, 2017, by Bob Strauss

Hexapods Are a Diverse Group of Six-Legged Arthropods

Hexapods Are a Diverse Group of Six-Legged Arthropods Hexapods are a group of arthropods that include more than one million described, species, most of which are insects, but a handful of which belong to the lesser-known group Entognatha. In terms of the sheer number of species, no other family of animals comes close to the hexapods; these six-legged arthropods are, in fact, over twice as diverse as all other vertebrate and invertebrate animals combined. Most hexapods are terrestrial animals, but there are some exceptions to this rule. Some species live in aquatic freshwater habitats such as lakes, wetlands, and rivers, while others inhabit coastal marine waters. Hexapods Avoid Sub-Tidal Marine Areas The only habitats that hexapods avoid are sub-tidal marine areas, such as oceans and shallow seas. The success of hexapods in colonizing land can be attributed to their body plan (especially the strong cuticles covering their bodies that provide protection from predators, infection and water loss), as well as their flying skills. Another successful attribute of hexapods is their  holometabolous development, a mouthful of a term which means that juvenile and adult hexapods of the same species are very different in their ecological requirements, immature hexapods using different resources (including food sources and habitat features) than the adults of the same species. Hexapods Are Vital But Also Pose Many Threats Hexapods are vital to the communities in which they live; for example, early two-thirds of all flowering plant species rely on hexapods for pollination. Yet hexapods also pose many threats. These small arthropods can inflict vast crop damage and are known to spread numerous debilitating and fatal diseases in humans and other animals. The body of a hexapod is made up of three sections, a head, a thorax, and an abdomen. The head has a pair of compound  eyes, a pair of antennae, and numerous mouthparts (such as mandibles, labrum, maxilla, and labium). The Three Segments of Thorax The thorax consists of three segments, the prothorax, the mesothorax, and the metathorax. Each segment of the thorax has a pair of legs, making for six legs in all (the forelegs, the middle legs, and the hind legs). Most adult insects also possess two pairs of wings; the forewings are located on the mesothorax and the hind-wings are attached to the metathorax. Wingless Hexapods Although most adult hexapods have wings, some species are wingless throughout their life cycles or lose their wings after a certain period before adulthood. For example, parasitic insect orders such as lice and fleas no longer have wings (although their ancestors of millions of years ago did have wings). Other groups, such as the Entognatha and Zygentoma, are more primitive than classic insects; not even the ancestors of these animals had wings. Many hexapods have evolved alongside plants in a process known as coevolution. Pollination is one example of a coevolutionary adaptation between plants and pollinators in which both parties benefit. Classification Hexapods are classified within the following taxonomic hierarchy: Animals Invertebrates Arthropods Hexapods Hexapods are divided into the following basic groups: Insects (Insecta) - There are more than one million species of insects that have been identified, and scientists estimate that there may be many millions more species yet to be named. Insects have three pairs of legs, two pairs of wings and compound eyes.Springtails and their relatives (Entognatha) - The mouthparts of springtails, such as the two-pronged bristletails and the proturans (or coneheads), can be retracted within their heads. All entognaths lack wings. Edited on February 10, 2017, by Bob Strauss

Name Change for ISIS

Name Change for ISIS Name Change for ISIS Name Change for ISIS By Maeve Maddox English speakers have yet to agree on a word, phrase or acronym to label the terrorist group making news for such atrocities as beheading noncombatants and butchering unarmed prisoners. A few years ago, American journalists started referring to the group that was calling itself â€Å"Al-Dawla Al-Islamiya fi al-Iraq wa al-Sham† as ISIS (Islamic State of Iraq and Syria), but this acronym has proved to be a poor choice; it suggests that the group’s focus is limited to Iraq and Syria. The term al-Sham does not stand for Syria. The English translation of al-Sham is â€Å"the Levant.† Levant came into English from French in the 15th century with the meaning â€Å"East,† (from French lever, â€Å"to rise.†) The region referred to was in the East. The sun rises in the east, ergo, levant (rising), present participle of lever. The Levant is â€Å"the eastern part of the Mediterranean, with its islands and the countries adjoining.† According to one interpretation, the Levant is made up of Cyprus, Israel, Jordan, Lebanon, Syria, Palestine, and part of southern Turkey. Others claim that the Levant refers only to Syria, Lebanon, and Palestine. The Associated Press has rejected the continued use of ISIS, preferring ISIL (L for Levant) as a more accurate interpretation of al-Sham. John Daniszewski, AP vice president and senior managing editor for international news, says, â€Å"We believe this is the most accurate translation of the group’s name and reflects its aspirations to rule over a broad swath of the Middle East.† Since June 2014, when the terrorist group named a â€Å"caliph† and dropped both Iraq and Levant from its name, ISIL has become less than accurate as a reflection of the group’s aspirations. Referring to themselves as â€Å"the Islamic State† reflects their self-image as a reincarnation of the medieval caliphate founded in the 7th century. The Umayyad caliphate (661-750) conquered lands from Arabia to Spain; their advance into Western Europe in 732 was turned back by Charles Martel at the Battle of Tours. The words caliph and caliphate derive from Arabic khilafa, â€Å"succession.† A caliph is seen as the successor of Muhammad. A caliphate is a sovereign state ruled by a caliph under Islamic law (sharia). The office of caliph combines the functions of king and priest. British journalists seem to have decided on the initials IS as a short way of referring to the group without limiting its perceived goals to any particular region of the world. They use the term â€Å"Islamic State† for the first reference in an article and the capitalized initials IS in subsequent references. It seems to me that either ISIL or IS is preferable to ISIS. As a student of mythology and comparative religion, I cringe every time I hear the murderous terrorists referred to by an acronym that sounds like the name of the benign mother goddess Isis. And I sympathize with women like Isis Martinez of Miami who sees people â€Å"recoil in disgust† when she introduces herself these days. Postscript: I just heard an American reporter on NPR refer to the group as IS. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Spelling category, check our popular posts, or choose a related post below:Has vs. Had20 Words Meaning "Being or Existing in the Past"Sentence Adverbs

Developing Successful Business Teams Essay Example | Topics and Well Written Essays - 5000 words

Developing Successful Business Teams - Essay Example Therefore, the organisations in the present business world often emphasise and promote adequate cooperation among the team members to efficiently attain their desired goals and objectives as per the planning. Moreover, the firms also seek to promote credibility of the workforce and emphasise on adequate and effective communication processes among the members in order to obtain greater control and productivity of the organisation (Mickan & Rodger, 2000). Emphasising upon the emerging competition and striving performance of the marketers, the major objective of this report is to demonstrate and understand the primary features of a successful business team. Thus, the discussion of this report will be focused on highlighting and analysing the major traits along with explaining the major phases to improve the performance of a success business team. Additionally, the paper will also focus on assessing the monitoring processes which can enable the organisation to attain greater efficiency of a successful team. 2. The Features of Successful Business Team Defining the major characteristics of a successful business team always constitutes a broad consensus which represents a large number of attributes to enhance the level of efficiency within the workforce or staff members. A successful business team comprises a large number of attributes which accumulatively facilitates the organisation to proactively perform its each operation with clarity and efficiency. Understanding the ultimate goals of the team and the organisation on the whole is one of the fundamental characteristics of an effective and successful team. In this regard, the team members should be highly aware to prioritise the ultimate aim of the team which can generate adequate capability to achieve the stipulated goals as planned for the benefits of the organisation.... Additionally, the paper will also focus on assessing the monitoring processes which can enable the organisation to attain greater efficiency of a successful team. 2. The Features of Successful Business Team Defining the major characteristics of a successful business team always constitutes a broad consensus which represents a large number of attributes to enhance the level of efficiency within the workforce or staff members. A successful business team comprises a large number of attributes which accumulatively facilitates the organisation to proactively perform its each operation with clarity and efficiency. 2.1 Characteristics of a Successful Business Team a. Understanding the Team Goals Understanding the ultimate goals of the team and the organisation on the whole is one of the fundamental characteristics of an effective and successful team. In this regard, the team members should be highly aware to prioritise the ultimate aim of the team which can generate adequate capability to a chieve the stipulated goals as planned for the benefits of the organisation. b. Commitment Commitment towards complying with a common philosophy through sharing value to each member of the team can also efficiently attain the ultimate desires of the organisation. Moreover, it can also empower the members to increase their productivity substantially. c. Recognising Roles and Responsibilities It is also important for the members of a successful team to clearly identify their respective roles and responsibilities within the organisation. This particular factor tends to enhance the overall capability of the organisation in terms of accomplishing each task within the specified time in an adequate

Forensic Accounting Investigation Research Paper

Forensic Accounting Investigation - Research Paper Example 1). 1.2 Why is this issue? The purpose of using business intelligence in the organization is to identify and collect business data and to make better decision on various aspects of business including proper accounting practices. Business intelligence system will also help the business to make effective business decisions and the resultant financial gains besides facilitating business growth. Accurate information is nessaccery for taking efficient decision in the business. Business intelligence system would also help the business to get accurate and reliable data in the organization. â€Å"Business Intelligence Solutions (BIS) lead to better business decision making through providing access to enterprise data for easy analysis against Key Performance Indicators† (Business Intel n.d., para. 2). Many organizations have become subjects of fraudent practices due to the lack of proper forensic accounting systems focusing on business intelligence. The research will help highlight thi s issue and evolve ways and means to counter the same. 1.3 What could this research shed light on? There have been a number of researches conducted on this topic. However there is still scope for conducting further research because it will identify the significance of business intelligence in order to take efficient decisions in the business. More over, with the passage of time and the advancement in technology, various aspects of business and accounting keep transforming. Therefore, fresh research will help in addressing the changes that occur due to the evolution. Prompt and accurate decisions are essential for meeting the competition efficiently and effectively. This research will high light the importance of business intelligence system in the organization and how it will help in locating frauds and misappropriations for safeguarding the interests of the shareholders involved. â€Å"Business intelligence helps to improve customer service by identifying the frequent problems wit h each product and identifying potential solutions† (Sabherwal & Fernandez 2009, p. 17). 1.4 Research Aims and Objectives: Depending on the purpose of this research the main aim will be: To identify areas where business intelligence can be deployed to co ordinate accounting activities effectively and efficiently. To take prompt and accurate decisions in the business. To make a co ordination among various departments in the organization. 1.5 Research questions’ (1) How to make effective decisions? (2) How can delegate information among various department in organization? 1.6 Literature Review: For the purpose of this literature review, the analysis of the literature will begin by investigating from books, journals and scholarly articles. â€Å"The literature broadly refers to information relevant to your topic of interest† (Literature Review: Academic Tip Sheet 2008, p. 2). Business intelligen