THE IMPACT OF PRICE PERCEPTION, SERVICE QUALITY, AND BRAND IMAGE ON CUSTOMER LOYALTY (STUDY OF HOSPITALITY INDUSTRY IN PAKISTAN)

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1 THE IMPACT OF PRICE PERCEPTION, SERVICE QUALITY, AND BRAND IMAGE ON CUSTOMER LOYALTY (STUDY OF HOSPITALITY INDUSTRY IN PAKISTAN) Fozia Malik Assistant Professor Army Public College of Management & Sciences, Rawaplindi Affiliated with University of Engineering & Technology, Taxila. Sara Yaqoob Assistant Professor Army Public College of Management & Sciences, Rawaplindi Affiliated with University of Engineering & Technology, Taxila. Abid Samih Aslam Assistant Professor Army Public College of Management & Sciences, Rawaplindi Affiliated with University of Engineering & Technology, Taxila. ABSTRACT Purpose: The objective of this paper was to study customer loyalty constructs in hospitality industry of Pakistan. The constructs studied in this research paper are Price Perception, Service Quality, and Brand image as an independent variable and Customer Loyalty as dependent variable. Research Design & Methodology: The survey in hospitality industry was conducted through self administered questionnaire which was adopted from Zhang & Feng, A total of 300 questionnaires were distributed, 220 questionnaires were returned and out of which 20 were not properly filled, and so sample size of this research was 200. Data was collected from restaurants and hotel s customers at the time of their visit to restaurant and hotel. Data is analyzed through statistical techniques of correlation and regression using SPSS. Findings: The overall findings shows that Service Quality (.864), Price Perception (.655), and Brand image (.811) is positively and significantly correlated with the dependent variable i.e. customer loyalty. Practical Implications: The study is benefiting the concerned hospitality industry to enhance their customer loyalty. Companies must know what the important factors which lead towards customer loyalty are. Originality & value: The paper highlights the factors that are important for building customer loyalty especially in hospitality industry. Keywords: - Price Perception, Brand Image, Service Quality, Customer Loyalty COPY RIGHT 2012 Institute of Interdisciplinary Business Research 487

2 INTRODUCTION Pakistani fast food restaurants and hotels are no different than others in rest of the world. Although there exists a difference in taste and choices but Pakistani customers demand the same type of treatment from hospitality sector just like people all over the world. The focus of this study is on three antecedents of customer loyalty in hospitality industry. These include 1) brand image 2) price perception 3) service quality. The reason of selecting these particular three variables is that in Pakistani environment people are price conscious, they prefer quality with price and they are brand conscious as well so brand image of hotel or restaurant can make them loyal towards specific restaurant or hotel. When comparing a hospitality experience such as dining in a fast food restaurant or in a hotel we need to keep in mind that in contrast to material products or pure services, most hospitality experiences are a combination of both products and services. A customer's satisfaction with a hospitality experience such as having a restaurant or hotel meal is actually a combination of satisfaction with the individual factors of all products and services which constitute the entire experience. Edvardsson et al. (2000) suggested that service should be considered from the point of view of a customer because it is a perception in his minds how he determines the service quality. The term service means different things to different customers because it is an experience. It happens to be difficult to define or measure. Service is intangible in nature so it creates several challenges such as managing, measuring, and standardizing for restaurants or hotels. But if the manager can come with answers to these problems then there is a greater chance for the customers to be satisfied, when dining in his fast food restaurant or hotel. The satisfied customer will not only become a repeat visitor, he may also recommend the restaurant or hotel to his/her friends. This will only prove to be profitable for the business. Researchers in different areas of business literature have found that it costs far more to attract new customers than to retain the old or current customers (Oliver, 1999; Rosenberg & Czepiel, 1983). But it s still not easy for the restaurant or hotel business because having repeat or current COPY RIGHT 2012 Institute of Interdisciplinary Business Research 488

3 customers is one thing and ensuring a delightful dining experience for each visit is another. The key to success is in constant change that is to constantly improve customer satisfaction (Lee et al. 2003; Zeithaml & Bitner, 2003). As the study progressed, the literature was collected from various sources and it became apparent that all the antecedents of this study were some how linked with each other in one way or another to answer the research question that what are the antecedents of customer loyalty with reference to hospitality industry of Pakistan. The importance of service quality cannot be neglected when studying loyalty of customers in restaurants or hotels. Similarly it could not be ignored what major role customer loyalty plays. It became obvious that the importance of one antecedent could not be marred by the other. No matter how significangtly service quality affected customer loyalty in fast food sector the study of price perception, and brand image still proved to be fruitful. All the antecedents contributed to broaden the horizon of this study and gave an insight how they affected customer loyalty. So this research is contributing by identifying most important factors of service industry which can not be neglected e.g. price perception, brand image and service quality are such factors which are most important for the building loyalty of customers towards services which are intangible. LITERATURE REVIEW CUSTOMER LOYALTY: Many researches have been conducted and they have placed substantial importance and emphasis on loyalty of customers. The major customer loyalty behaviors include word-of-mouth; repurchase intent, complaining behavior, and price sensitivity (Leisen & Prosser, 2004). There are many factors that are affecting customer loyalty such as price sensitivity which leads towards profitability which has a direct relationship with customer loyalty (Helgesen, 2006) the more loyal the customers are the more will be the profitability. Along with other factors service quality plays an important role in building customer loyalty like quality of services which quick services restaurants are providing has a direct impact on customer loyalty (Chao, 2008) COPY RIGHT 2012 Institute of Interdisciplinary Business Research 489

4 In quick service restaurants also the vitality of corporate image can not be neglected as the brand image positively influences customers loyalty (Christou, 2003) however switching barriers in contrast with other factors have negative impact on customer loyalty i.e. the less will be the switching barriers the more will be the customer loyalty (Chen et al. 2009). So from the literature review it can be suggested that price perception, brand image, and service quality can create customer loyalty. Service Quality The last three decades have seen an incredible increase in the hospitality industry around the world and restaurants in Pakistan seem to be no exception. The argument that service quality affects the profits of a business has long been apparent (Baker & Crompton, 2000) and managers of fast food restaurants in Pakistan are realizing its importance with each passing day. When conducting a study on restaurant businesses, the measure of service quality is not defined or limited to one aspect rather it is composed of the entire dining experience. This includes elements such as the setup of the dining room to the taste of food and the service provider s actions and reactions. The first law for studying service quality and customer satisfaction is to understand the gap between a customer's expectation and perception about a service, (Mittal & Lasser, 1996). This was in support of (Getty & Getty, 2003) who believed that no matter how much effort is placed into producing quality service, it is the perception of customers which matters. The manager s ability to understand the psyche of the customer is crucial in restaurant business. If he can assess which factors consumers believe to be important and which are not it may prove helpful in both make corrections and introducing new services. One of the core problems faced by the management is how to respond to evidence of deficiencies in service quality. Tremendous work in this regard was conducted by Parasurmanan et al in 1988 by developing service quality tool measurement named as SERVQUAL. If managers are providing their customers with the COPY RIGHT 2012 Institute of Interdisciplinary Business Research 490

5 best service attributes, then SERVQUAL may prove to be an excellent instrument for the identification and correction of service quality problems. While conducting this research it became apparent how important SERVQUAL is considered when it comes to service quality. Faced with increasing competition, many restaurant managers are exploring options in order to differentiate themselves from their competitors. Service quality plays a critical role to develop a competitive advantage (Brown, et al. 1993). Service quality is usually measured by how well the service delivery matches the customer's expectations. And once the service quality matches the customer s expectations, it leads to customer loyalty. HI- Service Quality is positively correlated with Customer Loyalty. Price Perception It can be defined as the process by which consumers interpret price and attribute value to a good or service. It has interested researchers for several years. It is a well known fact that price and quality are two important factors of value. They both lead to customer satisfaction and also customer retention, which help increase the profits of any business. So for a manager of quick service restaurant it is important to know customers perception of price and value. Previous studies examining the impact of price on perceived value have suggested a negative link: the higher the price, the lower the product value is perceived (Dodds et al. 1991; Grewal et al. 1998). This is a general phenomenon that when customers go out for shopping they tend to buy products which have lower prices so they get better value. This is supported by (Hutton, 1995) claiming that now more consumers are trying to maximize value for money spent, demanding better quality at lower prices. Although this may not be entirely true for all the customers because some customers are willing to pay more if they really like a product. Higher perceived value results in a greater willingness by the consumer to adopt a new product (McGowan & Sternquist, 1998). COPY RIGHT 2012 Institute of Interdisciplinary Business Research 491

6 Customers who are willing to pay higher prices for a product or service tend to be brandconscious and prestige sensitive. They also believe price is an indicator of quality or prestige (Sproles & Kendall, 1986). Once customers are convinced that they are getting the best quality product or service, they will tend to develop loyalty to it in the long run. Research conducted by Kandampully & Suhartanto, 2003 on hospitality industry found a positive relationship between price and customer loyalty. After studying the literature review the following hypothesis is developed; H2- Price Perception is positively correlated with Customer Loyalty. Brand image The past history of brand equity is measured to be brand attitude and brand image, and the outcome of brand equity are deliberate to be brand preference and purchase objectives (Chang & Liu, 2009). International brands often challenge to boost their sales through the start of brand extensions (Pina et al 2010). Brand image considerably influence quality and trust professed by consumers. (Chiang & Chang, 2006). Self-image correspondence can manipulate brand preference, brand satisfaction and purchase intentions (Jamal & Muhammad, 2007). The re-branding and re-positioning in the hospitality industry tinted the significance of the management-employees' participation in constructing a positive global brand image of the business (Chiang, 2007). Branding is measured a significant instrument in conveying the importance of health and underlying towards healthier food preferences (Chrysochou, 2010). Perceived quality, information cost saving, brand awareness, and brand image is positive associated with brand equity (Li et al. 2010). Customer care and ethical behavior mainly direct the force in establishing positive corporate reputation (Tustin, 2007). One of the researches conducted on hospitality industry found positive and significant relationship between image and customer loyalty, in this research it was argued that desirable image of the hotel can lead towards customer satisfaction, COPY RIGHT 2012 Institute of Interdisciplinary Business Research 492

7 so image is an important phenomenon for building customer loyalty. (Kandampully & Suhartanto, 2003). Therefore customer loyalty can be created through gain through positive brand image and company reputation, so by the support of previous researches the following hypothesis is developed; H3- Brand Image is positively correlated with Customer Loyalty Theoretical Framework After studying a literature review the following theoretical framework is developed, in which service quality, price perception, and brand image are considered independent variables whereas customer loyalty is a dependent variable. Service Quality Price Perception Customer loyalty Brand Image RESEARCH METHODOLOGY Aim: The main objective of the research conducted was to identify the factors leading to customer loyalty in restaurants and hotels of Pakistan. The study investigates the relationship between Independent variables (brand image, price perception, and service quality) dependent variable (customer loyalty). Population: All customers who enjoyed eating at restaurants and hotels constituted the population of this survey. This study design was based on descriptive and hypothesis testing. Self administered questions were distributed among the customers of different restaurants and hotels operating in the hospitality industry across various cities of Pakistan. A total of 300 COPY RIGHT 2012 Institute of Interdisciplinary Business Research 493

8 questionnaires were distributed, 220 questionnaires were returned and out of which 20 were not properly filled, and so sample size of this research is 200. Research Instrument: The questionnaire consisted of a total of 20 items based on four variables. The questionnaire was adopted from Zhang & Feng (2009). The design of the questionnaire had two main sections. Section-I was designed to know the demographics of the respondents and section-ii to identify the factors leading towards customer loyalty. The respondents had to choose their answer on Likert scale ranging from 1. Strongly disagree, to 5. Strongly agree. Characteristics of Population The total numbers of respondents used for this research are 200. The characteristics of the population are given below. Frequency: Age (N=200) Age Frequency Percentage % % % % % % 51-Above 3 1.5% Total % According to the table, 70% of respondents are between the ages of to which indicates that many of the respondents are relatively young. The other findings are given above in the table. Frequency: Gender (N=200) Gender Frequency Percentage Male % Female 66 33% Total % According to the table 67% of the respondents are male (N=134), and female respondents are 33% (N=66). COPY RIGHT 2012 Institute of Interdisciplinary Business Research 494

9 Level of Education (N=200) Level of Education Frequency Percentage Metric % F.A 20 10% Bachelors % Masters 40 20% MS/M.Phill 8 4% PhD 3 1.5% Total % From the above table, it is clearly represented that higher percentage lies in bachelors category that is 56% (N=112) and rest of the respondents education level are shown in the table. Frequency: Occupation (N=200) Occupation Frequency Percentage Students % Professionals 32 16% Others 14 7% Total % According to the above table of occupation, 77% are students, 16% are professionals (teachers, doctors, lawyers) and 7% belongs to the other areas. So the majority of the respondents were students. Income Level (N=200) Income Level Frequency Percentage % % % % % % % % Above 6 3% Total % COPY RIGHT 2012 Institute of Interdisciplinary Business Research 495

10 According to the table, the higher percentage of income level is 28% (N=56) and their earning is Another one is 19% (N=38) and their earning is RESULTS & DISCUSSION Correlation Table Customer loyalty Customer loyalty 1 Service Quality Price Perception Brand Image Service Quality.864(**) 1 Price Perception.655(**).697(**) 1 Brand Image.811(**).830(**).627(**) 1 In the correlation matrix service quality value is.864(**) which is significant at 0.01 level which shows service quality has a direct relationship and positive impact on the dependent variable that is customer loyalty. The value of second independent variable that is price perception in the correlation matrix is.655(**) which is also significant and shows a direct relationship and positive impact on the customer loyalty. Although its impact is less than the first variable service quality but still it has a positive impact on the customer loyalty. The value of third independent variable that is brand image in the correlation matrix is.811(**) which is significant and shows brand image has direct relationship and positive impact on dependent variable that is customer loyalty. Hence according to the correlation analysis all of these three independent variables service quality, price perception and brand image has a direct relationship and positive impact on the customer loyalty. COPY RIGHT 2012 Institute of Interdisciplinary Business Research 496

11 Regression Analysis Model Summary Model R R Square Adjusted R Square Std. Error of the Estimate 1.882(a) In the regression analysis R Square is which is very significant value and it shows the impact of independent variables that are service quality, price perception and brand image on dependent variable customer loyalty which is 77.8%. The independent variables service quality, price perception and brand image has a strong positive impact on customer loyalty. ANOVA Model Sum of Squares df Mean Square F Sig. 1 Regression (a) Residual Total a Predictors:(Constant), service quality, price perception, brand image b Dependent Variable: customer loyalty COPY RIGHT 2012 Institute of Interdisciplinary Business Research 497

12 In ANOVA table the value of f is which is a significant at F value should be grater then 5 and should not be less than 2. Hence it is which is significant value and show over all model significance. Coefficient Un standardized Coefficients Standardized Coefficients t Sig. Model B Std. Error Beta (Constant) Service Quality Price Perception Brand Image The coefficient analysis show the variance which is caused by independent variable over dependent variable. This study finds the relationship between different constructs like price perception, brand image, service quality and explores their relationship with the dependent variable that is customer loyalty. All these variables are significantly related to customer loyalty and how they are affecting the customer loyalty. This study explores the relationship of all these variables in hospitality business. The result of correlation and regression analysis shows that the independent variables that are service quality, price perception and brand image has a positive impact on dependent variable that is customer loyalty. Hence the hypothesis H1, H2 and H3 are accepted and proved. Impact of service quality on customer loyalty Service quality value is.864(**) which is significant at 0.01 level which shows service quality has a direct relationship and positive impact on the dependent variable that is customer loyalty, So hypothesis one i.e. service quality is positively and significantly correlated with customer COPY RIGHT 2012 Institute of Interdisciplinary Business Research 498

13 loyalty is approved which is consistent with the study conducted by Baker & Crompton, 2000; Zeithaml & Bitner, 2003; and Chang, 2009 who argued that service quality is an important phenomenon for restaurant and hotel business to deal with an intense competition. Impact of price perception on customer loyalty The value of price perception in the is.655(**) which is also significant and shows a direct relationship and positive impact on the customer loyalty, so second hypothesis of this study also proved which is consistent with the study conducted by Kandampully & Suhartanto, 2003 on hospitality industry. Impact of brand image on customer loyalty The value of brand image is.811(**) which is significant and shows brand image has direct relationship and positive impact on dependent variable that is customer loyalty, so third hypothesis of this study also proved which is consistent with the study conducted by Kandampully & Suhartanto, 2003 on hospitality industry. So, all the three variables studied in this research contribute in creating customer loyalty in hospitality industry. Services are intangible and it is very difficult to create better image of service in the minds of customer as compare to products which can be felt, touched, smell and taste, but the most important task for service marketers are to tangiblize the intangible, so through price perception, brand image and most importantly service quality can convert services intangible factors of service into the tangibles. CONCLUSION After conducting the research it can be concluded that in hospitality business like hotels and restaurants customer loyalty is the most important factor. We should not only retain customers but also attract new and try to make them loyal customers. Customer loyalty depends on price perception, brand image, service quality. All these are in direct relationship with customer loyalty so we should focus and strengthen these factors in order to enhance the loyalty of customers. Research concluded that all identified factors in this research positively contribute to COPY RIGHT 2012 Institute of Interdisciplinary Business Research 499

14 the customer loyalty. Further variables can be identified for future research which can affect customer loyalty. LIMITATIONS OF THE STUDY Apart from the factors discussed in this study there are certain other factors that may influence the loyalty of customers which are not covered in this research. This research did not emphasize the demographics of customers, as in demographics table it can be viewed that 75% of respondents lie in the age between 20 to 30 which includes mostly young people, in this research demographic factors are not tested in relation with independent and dependent variables. As it can be studied that different age groups can have different loyalty level. The relations with demographic individuality may also give details some of the diversity in customer loyalty. This research is done on service sector and specifically on hospitality sectors other sectors e.g. telecom, banking etc is not covered. Another limitation of this research is that the respondents of this research are only selected from Pakistan; cross cultural comparison is not drawn in this research as it might give different results. Geographic location or any other economic or social factor is different all over the world so it can create some different approach regarding customer loyalty. Future Implications Customer loyalty is most important factor for any organization, future research on customer loyalty can be conducted by comparing different service sectors e.g. telecom, banking, hospitality and financial services sector, such comparison can provide more clear picture of customer loyalty, further services and products comparison in relation with customer loyalty can be drawn in future research. Apart from three mentioned variables in this research more variables can be studied. Future research can be conducted by comparing different demographic factors e.g. age, and income level with the studied variables in this research, age and income level impact can be analyzed on customer loyalty, as different income level groups can view price perception factor differently similarly different age groups loyalty level with restaurant and hotel can be different, so in future research demographic factors should also analyzed. COPY RIGHT 2012 Institute of Interdisciplinary Business Research 500

15 Managerial Implications The study is benefiting the concerned hospitality industry to enhance their customer loyalty. Companies must know what the important factors which lead towards customer loyalty are. This paper highlights the factors that are important for building customer loyalty especially in hospitality industry. managers in hospitality industry should consider that brand image of their restaurant or hotel is an important dimension as desirable image can make companies to face and cope with intense competition, price is also important factor which managers should keep in mind as customers are only willing to pay price when they are getting expected services in return, the most important factor for the managers of service sector is the service quality as it is the service quality which speaks about the image of the service and service quality enable the organization to retain its customers and it can create satisfaction which ultimately resulted in customer loyalty. All three factors studied in this research are interrelated as service quality and price perception can build desirable image of the organization, brand image helps companies to improve their service quality. So managers should emphasize on price perception, service quality and brand image in order to create and enhance customer loyalty. COPY RIGHT 2012 Institute of Interdisciplinary Business Research 501

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