Customer Value Dimensions, Customer Engagement, and Continuance Usage Intention at Different Risk Levels: A Multi-Method Approach
Keywords:
Customer value dimensions, Customer engagement, Intention to continuance usageAbstract
The purpose of this study is to investigate the connection between customer value dimensions, customer engagement, and continuance usage intention for digital payment app. The study explores the moderating role of risk levels. The study applied theories of perceived customer value, customer engagement, continuance, and risk. A survey was conducted, and 316 Indian consumers who used digital payment apps participated. The researchers used the partial least squares structural equation modeling (PLS-SEM) technique and fuzzy set qualitative comparative analysis (fsQCA) to test their framework. Using PLS-SEM, the results showed that digital information quality value, emotional value, and price value positively influenced the continual usage intention. Additionally, perceived risk moderated the relationship between emotional and price value with continual usage intention. fsQCA analysis identified different solutions at varying levels of risk: low, medium, and high.
References
Abdul-Halim, N.-A., Vafaei-Zadeh, A., Hanifah, H., Teoh, A. P., & Nawaser, K. (2021). Understanding the determinants of e-wallet continuance usage intention in Malaysia. Quality & Quantity, 56(5), 3413–3439. https://doi.org/10.1007/s11135-021-01276-7
Aron, D. (2016). Digital dysfunction: Consumer grudgeholding and retaliation in the digital era. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 29, 119-130. https://jcsdcb.com/index.php/JCSDCB/article/view/239
Bagozzi, R. P. (1981). An examination of the validity of two models of attitude. Multivariate Behavioral Research, 16(3), 323–359. https://doi.org/10.1207/s15327906mbr1603_4
Bagozzi, R. P., & Yi, Y. (1988). On the evaluation of structural equation models. Journal of the Academy of Marketing Science, 16(1), 74–94. https://doi.org/10.1007/bf02723327
Bapat, D., & Hollebeek, L. D. (2023). Customer value, customer engagement, and customer-based brand equity in the context of a digital payment app. Marketing Intelligence & Planning, 41(7), 837–853. https://doi.org/10.1108/mip-09-2022-0417
Bapat, D., & Kannadhasan, M. (2022). Satisfaction as a mediator between brand experience dimensions and word-of-mouth for digital banking services: Does gender and age matter? Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 37 (2), 3–21. https://www.jcsdcb.com/index.php/JCSDCB/article/view/498
Bapat, D., & Khandelwal, R. (2023). Antecedents and consequences of consumer hope for digital payment apps services. Journal of Services Marketing, 37 (1), 110-27. https://doi.org/10.1108/jsm-12-2021-0456
Barclay, M. J., & Smith, C. W. (1995). The priority structure of corporate liabilities. The Journal of Finance, 50(3), 899–917. https://doi.org/10.1111/j.1540-6261.1995.tb04041.x
Blut, M., Chaney, D., Lunardo, R., Mencarelli, R., & Grewal, D. (2023). Customer perceived value: A comprehensive meta-analysis. Journal of Service Research, 27 (4), 501-524 https://doi.org/10.1177/10946705231222295
Borg, D., Mont, O., & Schoonover, H. (2020). Consumer acceptance and value in use-oriented product-service systems: Lessons from Swedish consumer goods companies. Sustainability, 12(19), 8079. https://doi.org/10.3390/su12198079
Brodie, R. J., Hollebeek, L. D., Jurić, B., & Ilić, A. (2011). Customer engagement: Conceptual domain, fundamental propositions, and implications for research. Journal of Service Research, 14(3), 252–271. https://doi.org/10.1177/1094670511411703
Casidy, R., & Wymer, W. (2016). A risk worth taking: Perceived risk as moderator of satisfaction, loyalty, and willingness-to-pay premium price. Journal of Retailing and Consumer Services, 32, 189–197. https://doi.org/10.1016/j.jretconser.2016.06.014
Chakraborty, D., Kayal, G., Mehta, P., Nunkoo, R., & Rana, N. P. (2022). Consumers’ usage of food delivery app: A theory of consumption values. Journal of Hospitality Marketing & Management, 31(5), 1–19. https://doi.org/10.1080/19368623.2022.2024476
Chakraborty, D., & Paul, J. (2022). Healthcare apps’ purchase intention: A consumption values perspective. Technovation, 120, 102481. https://doi.org/10.1016/j.technovation.2022.102481
Chen, Q., Shen, Y., Zhang, L., Zhang, Z., Zheng, J., & Jing Xiu. (2023). Influences of (in)congruences in psychological entitlement and felt obligation on ethical behavior. Frontiers in Psychology, 13, 1052759. https://doi.org/10.3389/fpsyg.2022.1052759
Cohen, D. (1998). Culture, social organization, and patterns of violence. Journal of Personality and Social Psychology, 75(2), 408–419. https://doi.org/10.1037/0022-3514.75.2.408
Crotty, M. (1998). The foundations of social research: Meaning and perspective in the research process (pp. 1–17). Sage Publications.
Dağhan, G., & Akkoyunlu, B. (2016). Modeling the continuance usage intention of online learning environments. Computers in Human Behavior, 60, 198–211. https://doi.org/10.1016/j.chb.2016.02.066
Davis, F. D. (1989). Perceived usefulness, perceived ease of use, and user acceptance of information technology. MIS Quarterly, 13(3), 319–340. https://doi.org/10.2307/249008 .
Day, E., & Crask, M. R. (2000). Value assessment: the antecedent of customer satisfaction. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 13, 52-60. https://www.jcsdcb.com/index.php/JCSDCB/article/view/187
de Chernatony, L., Harris, F., & Dall’Olmo Riley, F. (2000). Added value: Its nature, roles and sustainability. European Journal of Marketing, 34(1/2), 39–56. https://doi.org/10.1108/03090560010306197
Delone, W. H., & McLean, E. R. (2003). The DeLone and McLean Model of Information Systems Success: A ten-year update. Journal of Management Information Systems, 19(4), 9–30.
Dendrinos, K., & Spais, G. (2023). An investigation of selected UTAUT constructs and consumption values of Gen Z and Gen X for mobile banking services and behavioral intentions to facilitate the adoption of mobile apps. Journal of Marketing Analytics. https://doi.org/10.1057/s41270-023-00271-1
Dong, T.P., Cheng, N.C., & Wu, Y.-C. J. (2014). A study of the social networking website service in digital content industries: The Facebook case in Taiwan. Computers in Human Behavior, 30, 708–714. https://doi.org/10.1016/j.chb.2013.07.037
Dul, J. (2022). Problematic applications of necessary condition analysis (NCA) in tourism and hospitality research. Tourism Management, 93, 104616. https://doi.org/10.1016/j.tourman.2022.104616
Dul, J., Vis, B., & Goertz, G. (2018). Necessary Condition Analysis (NCA) does exactly what it should do when applied properly. Sociological Methods & Research, 50(2), 004912411879938. https://doi.org/10.1177/0049124118799383
Efron, B., & Gong, G. (1983). A leisurely look at the bootstrap, the jackknife, and cross-validation. The American Statistician, 37(1), 36–48. https://doi.org/10.1080/00031305.1983.10483087
Fazal-e-Hasan, S. M., Ahmadi, H., Mortimer, G., Grimmer, M., & Kelly, L. (2018). Examining the role of consumer hope in explaining the impact of perceived brand value on customer–brand relationship outcomes in an online retailing environment. Journal of Retailing and Consumer Services, 41, 101–111. https://doi.org/10.1016/j.jretconser.2017.12.004
Featherman, M. S., & Pavlou, P. A. (2003). Predicting e-services adoption: A perceived risk facets perspective. International Journal of Human-Computer Studies, 59(4), 451–474.
Fiss, P. C. (2011). Building better causal theories: A fuzzy set approach to typologies in organization research. Academy of Management Journal, 54(2), 393–420. https://doi.org/10.5465/amj.2011.60263120
Foroughi, B., Iranmanesh, M., & Hyun, S. S. (2019). Understanding the determinants of mobile banking continuance usage intention. Journal of Enterprise Information Management, 32(6), 1015–1033. https://doi.org/10.1108/jeim-10-2018-0237
Hair, J. F., Ringle, C. M., & Sarstedt, M. (2011). PLS-SEM: Indeed a silver bullet. Journal of Marketing Theory and Practice, 19(2), 139–152. https://doi.org/10.2753/MTP1069-6679190202
Hair, J., Hollingsworth, C. L., Randolph, A. B., & Chong, A. Y. L. (2017). An updated and expanded assessment of PLS-SEM in information systems research. Industrial Management & Data Systems, 117(3), 442–458. https://doi.org/10.1108/imds-04-2016-0130
Hollebeek, L. (2011). Exploring customer brand engagement: Definition and themes. Journal of Strategic Marketing, 19(7), 555–573. https://doi.org/10.1080/0965254x.2011.599493
Hollebeek, L. D. (2013). The customer engagement/value interface: An exploratory investigation. Australasian Marketing Journal (AMJ), 21(1), 17–24. https://doi.org/10.1016/j.ausmj.2012.08.006
Hollebeek, L. D., Glynn, M. S., & Brodie, R. J. (2014). Consumer brand engagement in social media: Conceptualization, scale development and validation. Journal of Interactive Marketing, 28(2), 149–165. https://doi.org/10.1016/j.intmar.2013.12.
Hollebeek, L. D., Sprott, D. E., Andreassen, T. W., Costley, C., Klaus, P., Kuppelwieser, V., Karahasanovic, A., Taguchi, T., Ul Islam, J., & Rather, R. A. (2019). Customer engagement in evolving technological environments: Synopsis and guiding propositions. European Journal of Marketing, 53(9), 2018–2023. https://doi.org/10.1108/ejm-09-2019-970
Hong, Z., & Yi, L. (2012). Research on the influence of perceived risk in consumer online purchasing decision. Physics Procedia, 24, 1304–1310. https://doi.org/10.1016/j.phpro.2012.02.194
Howcroft, B., Hamilton, R., & Hewer, P. (2007). Customer involvement and interaction in retail banking: An examination of risk and confidence in the purchase of financial products. Journal of Services Marketing, 21(7), 481–491. https://doi.org/10.1108/08876040710824843
Huang, S., & Hsu, C. H. C. (2009). Effects of travel motivation, past experience, perceived constraint, and attitude on revisit intention. Journal of Travel Research, 48(1), 29–44. https://doi.org/10.1177/0047287508328793
Hsiao, C.-H., Chang, J.-J., & Tang, K.-Y. (2016). Exploring the influential factors in continuance usage of mobile social apps: Satisfaction, habit, and customer value perspectives. Telematics and Informatics, 33(2), 342–355. https://doi.org/10.1016/j.tele.2015.08.014
Islam, J. U., Hollebeek, L. D., Rahman, Z., Khan, I., & Rasool, A. (2019). Customer engagement in the service context: An empirical investigation of the construct, its antecedents and consequences. Journal of Retailing and Consumer Services, 50, 277–285. https://doi.org/10.1016/j.jretconser.2019.05.018
Jangir, K., Sharma, V., Taneja, S., & Rupeika-Apoga, R. (2022). The moderating effect of perceived risk on users’ continuance intention for fintech services. Journal of Risk and Financial Management, 16(1), 21. https://doi.org/10.3390/jrfm16010021
Jones, M. A., Mothersbaugh, D. L., & Beatty, S. E. (2003). The effects of locational convenience on customer repurchase intentions across service types. Journal of Services Marketing, 17(7), 701–712. https://doi.org/10.1108/08876040310501250
Joshi, Y., Uniyal, D. P., & Sangroya, D. (2021). Investigating consumers’ green purchase intention: Examining the role of economic value, emotional value and perceived marketplace influence. Journal of Cleaner Production, 328, 129638. https://doi.org/10.1016/j.jclepro.2021.129638
Kaufman, J.J. 1998. Value Management: Creating Competitive Advantage, Best Management Practices Series, Crisp Publications, Menlo Park, CA.
Kline, R. B. (1998). Software review: Software programs for structural equation modeling: Amos, EQS, and LISREL. Journal of Psychoeducational Assessment, 16(4), 343–364. https://doi.org/10.1177/073428299801600407
Kogan, N., & Wallach, M. A. (1964). Risk-taking. Holt, Rinehart & Winston.
Kumar, V., & Reinartz, W. (2016). Creating enduring customer value. Journal of Marketing, 80(6), 36–68. https://doi.org/10.1509/jm.15.0414
Kim, H. Y., & Yoon, S. (2022). Do consumer values and switching barriers influence sharing consumption intention? A cost-benefit approach. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 35, 99–120. https://www.jcsdcb.com/index.php/JCSDCB/article/view/600
Lee, D. H. (2022). The trinity of extended service quality, distinct perceived value, and customer loyalty facilitators. Asia Pacific Journal of Marketing and Logistics, 35(5). https://doi.org/10.1108/apjml-01-2022-0048
Lee, S., & Kim, B. G. (2017). The impact of qualities of social network service on the continuance usage intention. Management Decision, 55(4), 701–729. https://doi.org/10.1108/md-10-2016-0731
Lee, E. J., & Overby, J. W. (2004). Creating value for online shoppers: Implications for satisfaction and loyalty. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 17, 54-67 https://jcsdcb.com/index.php/JCSDCB/article/view/62
Leroi-Werelds, S. (2019). An update on customer value: State of the art, revised typology, and research agenda. Journal of Service Management, 30(5), 650–680. https://doi.org/10.1108/josm-03-2019-0074
Liao, C., Liu, C.-C., Liu, Y.-P., To, P.-L., & Lin, H.-N. (2011). Applying the expectancy disconfirmation and regret theories to online consumer behavior. Cyberpsychology, Behavior, and Social Networking, 14(4), 241–246. https://doi.org/10.1089/cyber.2009.0236
Lim, W. M., Rasul, T., Kumar, S., & Ala, M. (2021). Past, present, and future of customer engagement. Journal of Business Research, 140(1), 439–458. https://www.sciencedirect.com/science/article/pii/S0148296321008213
Limayem, M., Hirt, S. G., & Cheung, C. M. K. (2007). How habit limits the predictive power of intention: The case of information systems continuance. MIS Quarterly, 31(4), 705. https://doi.org/10.2307/25148817
Lin, H.-F. (2011). An empirical investigation of mobile banking adoption: The effect of innovation attributes and knowledge-based trust. International Journal of Information Management, 31(3), 252–260. https://doi.org/10.1016/j.ijinfomgt.2010.07.006
Lin, P.-C., & Huang, Y.-H. (2012). The influence factors on choice behavior regarding green products based on the theory of consumption values. Journal of Cleaner Production, 22(1), 11–18. https://doi.org/10.1016/j.jclepro.2011.10.002
Manrai, R., Yadav, P. D., & Goel, U. (2022). Factors affecting adoption of digital payments by urban women: Understanding the moderating role of perceived financial risk. Technology Analysis & Strategic Management, 36(10), 1–13. https://doi.org/10.1080/09537325.2022.2139237
Mathieson, K. (1991). Predicting user intentions: Comparing the technology acceptance model with the theory of planned behavior. Information Systems Research, 2(3), 173–191.
Mitchell, V. W. (1992). Understanding consumers’ behaviour: Can perceived risk theory help? Management Decision, 30(3). https://doi.org/10.1108/00251749210013050
Mun, I. B., & Hwang, K.-H. (2024). Understanding ChatGPT continuous usage intention: The role of information quality, information usefulness, and source trust. Information Development. https://doi.org/10.1177/02666669241307595
Nasri, W., & Charfeddine, L. (2012). Factors affecting the adoption of Internet banking in Tunisia: An integration theory of acceptance model and theory of planned behavior. The Journal of High Technology Management Research, 23(1), 1–14. https://doi.org/10.1016/j.hitech.2012.03.001
Nguyen, A. T., Phan, L. T., & Nguyen, Q. H. (2024). The role of brand image and brand love in the relationship between perceived cause-related marketing and repurchase intention. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 37(2), 188–207. https://jcsdcb.com/index.php/JCSDCB/article/view/506
Pappas, I. O., & Woodside, A. G. (2021). Fuzzy-set qualitative comparative analysis (fsQCA): Guidelines for research practice in information systems and marketing. International Journal of Information Management, 58(1), 102310. https://doi.org/10.1016/j.ijinfomgt.2021.102310
Paulssen, M., Roulet, R., & Wilke, S. (2014). Risk as moderator of the trust-loyalty relationship. European Journal of Marketing, 48(5/6), 964–981. https://doi.org/10.1108/ejm-11-2011-0657
Peter, J. P., & Ryan, M. J. (1976). An investigation of perceived risk at the brand level. Journal of Marketing Research, 13(2), 184–188. https://doi.org/10.1177/002224377601300210
Prentice, C. (2019). Testing complexity theory in service research. Journal of Services Marketing, 34(2), 149–162. https://doi.org/10.1108/jsm-09-2019-0353
Ragin, C. C. (1987). The comparative method: Moving beyond qualitative and quantitative strategies. University of California Press.
Ragin, C. C. (2006). The limitations of net-effects thinking. In The limitations of net-effects thinking (pp. 13–41). Kluwer Academic Publishers eBooks. https://doi.org/10.1007/0-387-28829-5_2
Leszinski, R., & Marn, M. V. (1997). Setting value, not price. The McKinsey Quarterly, 1(1), 98.
Powers, T. L., Jack, E. P., & Choi, S. (2018). Price and quality value influences on retail customer satisfaction and loyalty. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 31, 21-39. https://jcsdcb.com/index.php/JCSDCB/article/view/252
Rasoolimanesh, S. M., Ringle, C. M., Sarstedt, M., & Olya, H. (2021). The combined use of symmetric and asymmetric approaches: Partial least squares-structural equation modeling and fuzzy-set qualitative comparative analysis. International Journal of Contemporary Hospitality Management, 33(5), 1571–1592. https://doi.org/10.1108/ijchm-10-2020-1164
Rubinson, R. (2019). The world-economy and the distribution of income within states: A cross-national study. In The gap between rich and poor (pp. 156–186). Routledge.
Sakas, D. P., Giannakopoulos, N. T., Terzi, M. C., Kamperos, I. D. G., & Kanellos, N. (2023). What is the connection between fintechs’ video marketing and their vulnerable customers’ brand engagement during crises? International Journal of Bank Marketing, ahead-of-print. https://doi.org/10.1108/IJBM-03-2023-014
Setia, P., Setia, P., Venkatesh, V., & Joglekar, S. (2013). Leveraging digital technologies: How information quality leads to localized capabilities and customer service performance. MIS Quarterly, 37(2), 565–590. https://www.jstor.org/stable/43825923
Sheth, J. N., Newman, B. I., & Gross, B. L. (1991). Why we buy what we buy: A theory of consumption values. Journal of Business Research, 22(2), 159–170. https://doi.org/10.1016/0148-2963(91)90050-8
So, K. K. F., King, C., & Sparks, B. (2014). Customer engagement with tourism brands. Journal of Hospitality & Tourism Research, 38(3), 304–329. https://doi.org/10.1177/1096348012451456
Sukhov, A., Friman, M., & Olsson, L. E. (2023). Unlocking potential: An integrated approach using PLS-SEM, NCA, and fsQCA for informed decision making. Journal of Retailing and Consumer Services, 74, 103424. https://doi.org/10.1016/j.jretconser.2023.103424
Sweeney, J. C., & Soutar, G. N. (2001). Consumer perceived value: The development of a multiple item scale. Journal of Retailing, 77(2), 203–220. https://doi.org/10.1016/S0022-4359(01)00041-0
Tran Xuan, Q., Truong, H. T. H., & Vo Quang, T. (2023). Omnichannel retailing with brand engagement, trust and loyalty in banking: The moderating role of personal innovativeness. International Journal of Bank Marketing, 41(3). https://doi.org/10.1108/ijbm-07-2022-0292
Van Doorn, J., Lemon, K. N., Mittal, V., Nass, S., Pick, D., Pirner, P., & Verhoef, P. C. (2010). Customer engagement behavior: Theoretical foundations and research directions. Journal of Service Research, 13(3), 253–266. https://doi.org/10.1177/1094670510375599
Venkatesh, V., Morris, M. G., Davis, G. B., & Davis, F. D. (2003). User acceptance of information technology: Toward a unified view. MIS Quarterly, 27(3), 425–478.
Verhoef, P. C., Reinartz, W. J., & Krafft, M. (2010). Customer engagement as a new perspective in customer management. Journal of Service Research, 13(3), 247–252. https://doi.org/10.1177/1094670510375461
Vargo, S. L., & Lusch, R. F. (2008a). Service-dominant logic: Continuing the evolution. Journal of the Academy of Marketing Science, 36(1), 1–10
Walz, A. M., & Celuch, K. G. (2010). The effect of retailer communication on customer advocacy: The moderating role of trust. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 23, 95-110. https://www.jcsdcb.com/index.php/JCSDCB/article/view/25
Wang, J., Zhao, J., Dong, K., & Dong, X. (2022). Is financial risk a stumbling block to the development of digital economy? A global case. Emerging Markets Finance and Trade, 58(15), 4261–4270. https://doi.org/10.1080/1540496x.2022.2066995
Wang, Y., Po Lo, H., Chi, R., & Yang, Y. (2004). An integrated framework for customer value and customer-relationship-management performance: A customer-based perspective from China. Managing Service Quality: An International Journal, 14(2/3), 169–182. https://doi.org/10.1108/09604520410528590
Wen, C., Prybutok, V. R., & Xu, C. (2011). An integrated model for customer online repurchase intention. Journal of Computer Information Systems, 52(1), 14–23. https://doi.org/10.1080/08874417.2011.11645518
Woodruff, R. B. (1997). Customer value: The next source for competitive advantage. Journal of the Academy of Marketing Science, 25(2), 139–153. https://doi.org/10.1007/BF02894350
Yang, H. C. (2012). Young American consumers’ prior negative experience of online disclosure, online privacy concerns, and privacy protection behavioral intent. Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior, 25, 179-202. https://jcsdcb.com/index.php/JCSDCB/article/view/123
Yang, W., & Mattila, A. S. (2016). Why do we buy luxury experiences? International Journal of Contemporary Hospitality Management, 28(9), 1848–1867. https://doi.org/10.1108/ijchm-11-2014-0579
Yoo, J., Chen, J., & Frankwick, G. L. (2023). Customer influence on frontline employee work engagement. International Journal of Bank Marketing, 41(6), 1443–1463. https://doi.org/10.1108/ijbm-12-2021-0555
Zeithaml, V. A. (1988). Consumer perceptions of price, quality, and value: A means-end model and synthesis of evidence. Journal of Marketing, 52(3), 2–22. https://doi.org/10.1177/002224298805200302
Zeithaml, V. A., Parasuraman, A., & Malhotra, A. (2000). A conceptual framework for understanding e-service quality: Implications for future research and managerial practice. In Marketing Science Institute eBooks (Vol. 115). Cambridge, MA.
Zeithaml, V. A., Verleye, K., Hatak, I., Koller, M., & Zauner, A. (2020). Three decades of customer value research: Paradigmatic roots and future research avenues. Journal of Service Research, 23 (4), 409–432. https://doi.org/10.1177/1094670520948134
Zhuang, H., Popkowski Leszczyc, P. T. L., & Lin, Y. (2018). Why is price dispersion higher online than offline? The impact of retailer type and shopping risk on price dispersion. Journal of Retailing, 94 (2), 136–153. https://doi.org/10.1016/j.jretai.2018.01.003
Zhou, T. (2013). Understanding continuance usage of mobile sites. Industrial Management & Data Systems, 113(9), 1286–1299. https://doi.org/10.1108/IMDS-05-2013-0215
Downloads
Published
Issue
Section
License
Each volume is copyrighted by Consumer Satisfaction, Dissatisfaction and Complaining Behavior. We encourage authors to submit published articles to research aggregators such as researchgate.net or academia.edu. You may use the PDF files from the published journal for submission to these aggregators.