본문 바로가기
KERD
논문KCI 등재

The Impact of Loyalty Program Value on Brand Affect, Satisfaction, and Loyalty among Millennial Casino Patrons

0

조회

0

다운로드

0

인용

0

참고문헌

키워드

초록

Purpose - The purpose of this study is to empirically investigate the impact of the perceived loyalty program value on Millennial casino patrons’ brand affect, satisfaction, and casino loyalty. Design/methodology/approach - Data were collected via an online survey targeting Millennial casino patrons. After data screening process, 348 responses were included in the analysis. Descriptive statistics, confirmatory factor analysis (CFA), and structural equation modeling (SEM) were utilized to analyze the data. Findings - The findings of this study revealed that the perceived economic value of loyalty programs strongly impacts brand affect and overall satisfaction. Yet, the perceived psychological value of casino loyalty programs does not appear to influence brand affect and satisfaction. The results of the current study confirmed that brand affect influences satisfaction and brand loyalty. Overall satisfaction also considerably influences casino loyalty. Research implications or Originality - Given the increasing competition among casinos and the pivotal role of loyalty programs in fostering and retaining customer loyalty, it is imperative for casino marketers to gain deeper insights into how these programs can enhance Millennial casino patrons’ loyalty. The findings of this study provide valuable guidelines for casino marketers seeking to better understand and optimize their loyalty programs.

Abstract

Purpose - The purpose of this study is to empirically investigate the impact of the perceived loyalty program value on Millennial casino patrons’ brand affect, satisfaction, and casino loyalty. Design/methodology/approach - Data were collected via an online survey targeting Millennial casino patrons. After data screening process, 348 responses were included in the analysis. Descriptive statistics, confirmatory factor analysis (CFA), and structural equation modeling (SEM) were utilized to analyze the data. Findings - The findings of this study revealed that the perceived economic value of loyalty programs strongly impacts brand affect and overall satisfaction. Yet, the perceived psychological value of casino loyalty programs does not appear to influence brand affect and satisfaction. The results of the current study confirmed that brand affect influences satisfaction and brand loyalty. Overall satisfaction also considerably influences casino loyalty. Research implications or Originality - Given the increasing competition among casinos and the pivotal role of loyalty programs in fostering and retaining customer loyalty, it is imperative for casino marketers to gain deeper insights into how these programs can enhance Millennial casino patrons’ loyalty. The findings of this study provide valuable guidelines for casino marketers seeking to better understand and optimize their loyalty programs.

참고문헌 (58)

  1. "State of the States 2024" (2004)[URL]
  2. Anderson, E. W., "The Antecedents and Consequences of Customer Satisfaction for Firms", Marketing Science, 12, pp.125~143 (1993)
  3. Baloglu, S., "Dimensions of customer loyalty: Separating Friends from Well Wishers", Cornell Hotel and Restaurant Administration Quarterly, 43(1), pp.47~59 (2002)
  4. Barnes, J. G., "Closeness, Strength, and Satisfaction: Examining the Nature of Relationships between Providers of Financial Services and their Retail Customers", Psychology and Marketing, 14, pp.756~790 (1997)
  5. Benckendorff, T., "Tourism and Generation Y" (2010), CAB International
  6. Bitner, M. J., "Building Service Relationships: It's all about Promises", Journal of the Academy of Marketing Science, 23(4), pp.246~251 (1995)
  7. Bloton, R. N., "Services Quality: New Directions in Theory and Practice", pp.173~200 (1994)
  8. Bolton, R. N., "Implications of Loyalty Program Membership and Service Experience for Customer Retention and Value", Journal of the Academy of Marketing Science, 28(4), pp.95~108 (2000)
  9. Cankül, D., "The effect of gastronomic experience on restaurant image, customer perceived value, customer satisfaction and customer loyalty", International Journal of Gastronomy and Food Science, 36, pp.100908~ (2024)
  10. Chaudhuri, A., "The Chain of Effects from Brand Trust and Brand Affect to Brand Performance : The role of brand loyalty", Journal of Marketing, 65(2), pp.81~93 (2001)
  11. Churchill Jr, G. A., "An Investigation into the Determinants of Customer Satisfaction", Journal of Marketing Research, 19(4), pp.491~504 (1982)
  12. Dam, T. C., "Influence of Brand Trust, Perceived Value on Brand Preference and Purchase Intention", The Journal of Asian Finance, Economics and Business, 7(10), pp.939~947 (2020)
  13. Dick, A. S., "Customer Loyalty : Toward an integrated conceptual framework", Journal of the Academy of Marketing Science, 22(1), pp.99~113 (1994)
  14. Dowling, G. R., "Do customer Loyalty Programs Really Work?", Sloan Management Review, 38, pp.71~82 (1997)
  15. Ferguson, R., "The COLLOQUY Loyalty Marketing Census : Sizing Up the US Loyalty Marketing Industry", Journal of Consumer Marketing, 24(5), pp.313~321 (2007)
  16. Fornell, C., "Evaluating Structural Equation Models with Unobservable Variables and Measurement Error", Journal of Marketing Research, 18(1), pp.39~50 (1981)
  17. Frank, R. F., "Generation Y: Purchasing Power and Implications for Marketing", Academy of Marketing Studies Journal (2002)
  18. Goldgehn, L. A., "Generation Who, What Y: What You Need to Know about Generation Y", International Journal of Educational Advancement, 5(1), pp.24~34 (2004)
  19. Gŏmez, B., "The Role of Loyalty Programs in Behavioral and Affective Loyalty", Journal of Consumer Marketing, 23(7), pp.387~396 (2006)
  20. Gundlach, G. T., "The Structure of Commitment in Exchange", Journal of Marketing, 59(1), pp.78~92 (1995)
  21. Gwinner, K. P., "Relational Benefits in Services Industries : the Customer’s Perspective", Journal of the Academy of Marketing Science, 26, pp.101~114 (1998)
  22. Hair, J. F. Jr., "Multivariate Data Analysis" (1998), Prentice-Hall
  23. Hallowell, R., "Southwest Airlines: A Case Study Linking Employee Knees Satisfaction and Organizational Capabilities to Competitive Advantage", Human Resource Management, 35(Winter), pp.513~ (1996)
  24. Heun, C. T., "Harrah’s Bet on IT to Understand its Customers", Information Week, 816, pp.10~12 (2000)
  25. "Marketing to Millennials US, 2021" (2021)[URL]
  26. Hwang, J., "Human Baristas and Robot Baristas: How Does Brand Experience Affect Brand Satisfaction, Brand Attitude, Brand Attachment, and Brand Loyalty?", International Journal of Hospitality Management, 99, pp.1~12 (2021)
  27. Jacoby, J., "Brand Loyalty vs. Repeat Purchasing Behavior", Journal of Marketing Research, 10(1), pp.1~9 (1973)
  28. Keller, K. L., "Conceptualizing, Measuring, and Managing Customer-based Brand Equity", Journal of Marketing, 57, pp.1~22 (1993)
  29. Kim, J. J., "Congruent Charitable Cause Sponsorship Effect: Air Travelers’ Perceived Benefits, Satisfaction and Behavioral Intention", Journal of Hospitality and Tourism Management, 42, pp.190~198 (2020)
  30. Kivetz, R., "Earning the Right to Indulge: Effort as Determinant of Customer Preferences toward Frequency Program Reward", Journal of Marketing Research, 39, pp.155~170 (2002)
  31. Legg, M., "Marketing To the Next Generation of Casino Patrons", Journal of Marketing Analytics, 10(1), pp.89~101 (2022)
  32. Liu, Y., "The Long-term Impact of Loyalty Programs on Consumer Purchase Behavior and Loyalty", Journal of Marketing, 71, pp.19~35 (2007)
  33. Machleit, K. A., "Describing and Measuring Emotional Response to Shopping Experience", Journal of Business Research, 49(2), pp.101~111 (2000)
  34. Mayer, K. J., "Gaming Customer Satisfaction: An Exploratory Study", Journal of Travel Research, 37, pp.178~183 (1998)
  35. McKim, R., "Betting on Loyalty Marketing", Target Marketing, 22(3), pp.42~43 (1999)
  36. Morgan, R. M., "The Commitment-trust Theory of Relationship Marketing", Journal of Marketing, pp.20~38 (1994)
  37. O’Brien, L., "Do Rewards Really Create Loyalty?", Harvard Business Review, pp.75~82 (1995)
  38. Oliver, R., "Satisfaction: A Behavioral Perspective on the Consumer" (1997), McGraw-Hill
  39. Oliver, R. L., "Cognitive, affective, and attribute bases of the satisfaction response", Journal of Consumer Research, 20(3), pp.418~430 (1993)
  40. Palmer R., "Examining the Influence of Loyalty Reward Program Membership on the Behavior of Casino Patrons", pp.2003
  41. "Cracking the Gen Y Culinary Code" (2008)[URL]
  42. Palmer, R., "Winners and Losers: Segmenting a Casino Loyalty Program", International Gambling Studies, 5(2), pp.271~287 (2005)
  43. Phillips, C., "Millennials : Clued in or Clueless?", Advertising Age, pp.12~13 (2007)
  44. Phillips, D. M., "The Role of Consumption Emotions in the Satisfaction Response", Journal of Consumer Psychology, 12(3), pp.243~252 (2002)
  45. Reichheld, F., "Learning from Business Defections", Harvard Business Review, pp.56~69 (1996)
  46. Rust, R. T., "Driving Customer Equity: How Customer Lifetime Value is Reshaping Corporate Strategy" (2000), The Free Press
  47. Sheth, J. N., "The Evolution of Relationship Marketing", International Business Review, 4(4), pp.397~418 (1995)
  48. Sirdeshmukh, D., "Consumer Trust, Value, and Loyalty in Relational Exchanges", Journal of Marketing, 66, pp.15~37 (2002)
  49. Soluno˘glu, A., "Perceived Food Quality, Satisfaction, Brand Image in Restaurants and Recommendation Intention Relation", Journal of Yasar Univerisity, 15(60), pp.833~849 (2020)
  50. Sung, Y., "Effects of Brand Personality on Brand Trust and Brand Affect", Psychology & Marketing, 27(7), pp.639~661 (2010)
  51. Syrett, M., "Advertising and Millennials", Young Consumers, 5(4), pp.62~73 (2004)
  52. Thomas, J. S., "A Methodology for Linking Customer Acquisition to Customer Retention", Journal of Marketing Research, 38(2), pp.262~268 (2001)
  53. Turner, L. W., "Shopping Satisfaction for Domestic Tourists", Journal of Retailing and Consumer Services, 8(1), pp.15~27 (2001)
  54. Uncles, M., "Do You or Your Customers Need a Loyalty Scheme?", Journal of Targeting, Measurement and Analysis for Marketing, 2(4), pp.335~350 (1994)
  55. Wirtz, J., "The Moderating Role of Target-arousal on the Impact of Affect on Satisfaction—An Examination in the Context of Service Experiences", Journal of Retailing, 76(3), pp.347~365 (2000)
  56. Woodruff, R. B., "Customer Value: The Next Source for Competitive Advantage", Journal of the Academy of Marketing Science, 25(Spring), pp.139~153 (1997)
  57. Yang, Z., "Customer Perceived Value, Satisfaction, and Loyalty: The Role of Switching Costs", Psychology & Marketing, 21(10), pp.799~822 (2004)
  58. Yu, J., "Exploring The Role of Healthy Green Spaces, Psychological Resilience, Attitude, Brand Attachment, and Price Reasonableness in Increasing Hotel Guest Retention", International Journal of Environment Research and Public Health, 17(1), pp.133~ (2020)

관련 논문AI추천

이 간행물의 다른 논문 (29건)