Business Strategy
Perceived Recourse and Redress Risk: Is it Important in Forming Perception of Satisfaction?

Article Details
Pub. Date : Mar' 2019
Product Name : The IUP Journal of Business Strategy
Product Type : Article
Product Code : IJBS71903
Author Name : Purva Kansal and Suriti Goel
Availability : YES
Subject/Domain : Management
Download Format : PDF Format
No. of Pages : 15

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Abstract

Customer satisfaction as a variable has been an area of interest to marketers for decades. But satisfaction only measures the post-purchase quality and performance of a product or service given the pre-purchase expectations. However, with the changing Indian landscape, it is very important to measure perception of satisfaction before purchase in order to enhance the buying process of customer as well as increase the post-purchase satisfaction level. Therefore, anticipated satisfaction is of more interest to the marketers and academicians in recent times. The customer will anticipate more satisfaction if he/she perceives a higher value from the use of that product or service. The perceived value would be more if the perceived risk is less from that purchase. This study uses an extension of perceived risks known as the Perceived Recourse and Redress Risk (PRRR). The aim of the study is to analyze the effect of PRRR on perceived value and its subsequent effect on anticipated satisfaction. The study was conducted on a sample of 600 respondents across 5 cities. Structural equation modeling was applied to analyze the data. The results indicated that PRRR had a significant impact on perceived value which in turn significantly influenced anticipated satisfaction. The study would help add to the existing database of perceived risk literature in India. Furthermore, it will help understand the different dimensions of customer service that the customer feels very important to be present in the redress system of the retailer.


Description

Customer satisfaction has been a very popular dependent variable for decades. Every company measures customer satisfaction and uses it as a very important component in measuring a company’s success. Customer satisfaction provides a number of benefits for the companies. An increase in the customer satisfaction leads to an increase in the future profits of the company, thereby enhancing the longevity of the company (Anderson et al., 1994).


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