Study 2: Reciprocity between Perceived Value and Retail Brand Equity
Perceived value is defined as customers’ evaluations of the utility of and expectations for received retail offers (Zeithaml 1988), whereas retail brand equity refers to the overall assessment of a retailer as a strong, attractive, and unique brand (Keller 1993). Both constructs have enjoyed a surge of popularity in the literature, as both strongly determine consumer behavior (Chaudhuri and Ligas 2009; Jinfeng and Zhilong 2009). For retailers such as Tesco (2014), which aim to strengthen their brands through the value offered to customers, understanding how brand and value perceptions interact in affecting customers is crucial.
KeywordsTotal Effect Reciprocal Relationship Brand Equity Retail Sector Consumer Loyalty
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