Quantitative Economics and Management Studies
Vol. 4 No. 3 (2023)

The Effect of Customer Experience, Customer Satisfaction, and Customer Loyalty on Brand Power and Willingness to Pay a Price Premium

Franky Franky (Faculty of Economic and Business, Universitas Esa Unggul, jalan Arjuna Utara nomor 9, Jakarta 11510, Indonesia)
Tantri Yanuar Rahmat Syah (Faculty of Economic and Business, Universitas Esa Unggul, jalan Arjuna Utara nomor 9, Jakarta 11510, Indonesia)



Article Info

Publish Date
17 Mar 2023

Abstract

Products have a special value for customers and brand owners, and becoming a favorite is the aim of many brands. Therefore, this research used a causal quantitative design with a deductive approach to determine the influence of customer experience, satisfaction, and loyalty on brand power and willingness to pay a price premium. The data were obtained from primary sources via a questionnaire, while the population and unit of analysis were determined using the non-probability sampling technique with the criteria of Apple product customers aged at least 17 years old in Indonesia. A total of 280 respondents were achieved from August to December 2021 using the purposive sampling technique. The data were analyzed using SPSS 26 software (factor analysis) and Lisrel 10.2 with SEM (Structural Equation Modeling). Subsequently, the results indicated a positive influence of customer experience, satisfaction, and loyalty on brand power and willingness to pay a price premium. The research also suggested that maintaining and improving product quality, alongside continuous innovation, strengthened customer loyalty and brand power as well as increased their willingness to pay a price premium.

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Journal Info

Abbrev

qems

Publisher

Subject

Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Mathematics

Description

Journal of Quantitative Economics and Management Studies (QEMS) is an international peer-reviewed open-access journal dedicated to interchange for the results of high-quality research in all aspects of economics, management, business, finance, marketing, accounting. The journal publishes ...