The Effect of Value Perception on Customer Loyalty and Satisfaction. (A Study of University Students)

Abstract

Purpose: The objective of current research is to study the effect of value perceptions on student loyalty and satisfaction. Methodology: Final analysis was performed on 120 valid responses. Reliability of scale was checked by using cronbach’s alpha statistics. Correlation analysis was employed to study the relationship between functional value, epistemic value, social value, conditional value, emotional value, image, monetary sacrifices, non- monetary sacrifices, emotions, knowledge, satisfaction (independent variables) and intention to recommend (dependent variable).Further regression analysis was carried out in order to test the hypothesis. Findings: The statistical analysis of this research reveals that there is a positive and significant alliance between all variables. Further the research reveals that among other variables satisfaction has greater contribution towards building long term loyalty. Practical implication: This research highlight the need of improving business department in university of Sargodha for the attainment of loyal students as the outcomes of this paper shows that department is continuously working and have more loyal and satisfied students base than their competitors. Originality/value: To the best of researcher’s knowledge this research is the best of its kind which studies student satisfaction and loyalty in business department of university of Sargodha. Key words: Functional value, epistemic value, social value, conditional value, emotional value, image, monetary sacrifices, non-monetary sacrifices, emotions, knowledge, satisfaction, intention to recommend, university of Sargodha.