The Effect of Functional Value, Social Value and Experiential Value on Customer Loyalty with Customer Satisfaction as an Intervening Variable: Empirical Evidence from Indonesia

Zainurrafiqi Zainurrafiqi, Devi Lestari Pramita Putri, Rini Aristin, Titien Sulistiawaty, Bambang Hermanto, R.P.Much Muchtar, Marsam Marsam, Akhmad Rofiki

Abstract


This research is based on Social Exchange Theory and Customer Value Theory. The purpose of this study was to build an understanding of the role Functional Value, Social Value and Experiential Value on Customer Loyalty and its impact on Customer Satisfaction. Type of research is Explanatory Research. Data collection using a questionnaire. The sampling technique used purposive sampling. The number of samples was 400 Consumens of retailer of branded products in the city of Surabaya, Indonesia that using social media marketing in selling their product, and data analysis used the Structural Equation Model (SEM) with AMOS software. The results of this study indicate Functional Value have a positive and significant effect on Customer Satisfaction, Social Value have a positive and significant effect on Customer Satisfaction, Experiential Value have a positive and significant effect on Customer Satisfaction and Customer Satisfaction has a positive and significant effect on Customer Loyalty.

Keywords


Functional Value; Social Value; Experiential Value; Customer Satisfaction; Customer Loyalty

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DOI: http://dx.doi.org/10.18415/ijmmu.v9i6.3868

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