Relationship Between Customer Expectations and Financial
Performance of Food Industry Businesses in a Customer
Satisfaction Model

J 2023

Relationship Between Customer Expectations and Financial Performance of Food Industry Businesses in a Customer Satisfaction Model

SUCHÁNEK, Petr a Maria KRÁLOVÁ

Základní údaje

Originální název

Relationship Between Customer Expectations and Financial Performance of Food Industry Businesses in a Customer Satisfaction Model

Autoři

SUCHÁNEK, Petr (203 Česká republika, garant, domácí) a Maria KRÁLOVÁ (203 Česká republika)

Vydání

Economic and Business Review, 2023, 1580-0466

Další údaje

Jazyk

angličtina

Typ výsledku

Článek v odborném periodiku

Obor

50204 Business and management

Stát vydavatele

Slovinsko

Utajení

není předmětem státního či obchodního tajemství

Odkazy

URL

Kód RIV

RIV/00216224:14560/23:00130916

Organizační jednotka

Ekonomicko-správní fakulta

DOI

http://dx.doi.org/10.15458/2335-4216.1320

Klíčová slova anglicky

customer expectations; customer satisfaction; food industry; financial performance; ROA

Příznaky

Mezinárodní význam, Recenzováno

Změněno: 30. 1. 2024 18:26, doc. Ing. Bc. Petr Suchánek, Ph.D.

Anotace

V originále

Research on customer satisfaction in repeat purchases shows that the relationship between customer expectations and customer satisfaction can be inverse to what is commonly reported. This also has an impact on the financial performance of an enterprise, which is therefore directly influenced by customer expectations. The goal of this paper is to determine whether customer satisfaction affects customer expectations and whether these expectations have a direct impact on the financial performance of an enterprise. The variables representing factors of customer satisfaction, including customer expectations, are measured using a customer survey. Business financial performance (BFP) was measured using the ROA, ROE, and Asset Turnover indicators. The model was created using Structural Equation Modelling. The research confirmed a positive direct effect of customer expectations on BFP (specifically ROA). Customer satisfaction impacted financial performance indirectly via customer expectations in two years. This suggests that the influence of customer expectations on BFP is long-term in nature, although this effect is rather weak. As customers make repeat purchases, customer expectations change. These changes reflect relationships primarily with customer satisfaction and loyalty and BFP. Customer satisfaction is shown to influence customer expectations, which in turn influence BFP. Therefore, it is advisable to focus on (raising) customer expectations in repeat purchases if the businesses want to achieve higher financial performance.

Přiložené soubory

Relationship_Between_Customer_Expectations_and_Financial_Performa.pdf

Vyhledat podobné dokumenty

Citovat

SUCHÁNEK, Petr a Maria KRÁLOVÁ. Relationship Between Customer Expectations and Financial Performance of Food Industry Businesses in a Customer Satisfaction Model. Economic and Business Review. 2023, roč. 25, č. 2, s. 103-117. ISSN 1580-0466. Dostupné z: https://dx.doi.org/10.15458/2335-4216.1320.

@article{2288937,
   author = {Suchánek, Petr and Králová, Maria},
   article_number = {2},
   doi = {http://dx.doi.org/10.15458/2335-4216.1320},
   keywords = {customer expectations; customer satisfaction; food industry; financial performance; ROA},
   language = {eng},
   issn = {1580-0466},
   journal = {Economic and Business Review},
   title = {Relationship Between Customer Expectations and Financial Performance of Food Industry Businesses in a Customer Satisfaction Model},
   url = {https://www.ebrjournal.net/cgi/viewcontent.cgi?article=1320&context=home},
   volume = {25},
   year = {2023}
}

TY  - JOUR
ID  - 2288937
AU  - Suchánek, Petr - Králová, Maria
PY  - 2023
TI  - Relationship Between Customer Expectations and Financial Performance of Food Industry Businesses in a Customer Satisfaction Model
JF  - Economic and Business Review
VL  - 25
IS  - 2
SP  - 103-117
EP  - 103-117
SN  - 15800466
KW  - customer expectations
KW  - customer satisfaction
KW  - food industry
KW  - financial performance
KW  - ROA
UR  - https://www.ebrjournal.net/cgi/viewcontent.cgi?article=1320&context=home
N2  - Research on customer satisfaction in repeat purchases shows that the relationship between customer expectations and customer satisfaction can be inverse to what is commonly reported. This also has an impact on the financial performance of an enterprise, which is therefore directly influenced by customer expectations. The goal of this paper is to determine whether customer satisfaction affects customer expectations and whether these expectations have a direct impact on the financial performance of an enterprise. The variables representing factors of customer satisfaction, including customer expectations, are measured using a customer survey. Business financial performance (BFP) was measured using the ROA, ROE, and Asset Turnover indicators. The model was created using Structural Equation Modelling. The research confirmed a positive direct effect of customer expectations on BFP (specifically ROA). Customer satisfaction impacted financial performance indirectly via customer expectations in two years. This suggests that the influence of customer expectations on BFP is long-term in nature, although this effect is rather weak. As customers make repeat purchases, customer expectations change. These changes reflect relationships primarily with customer satisfaction and loyalty and BFP. Customer satisfaction is shown to influence customer expectations, which in turn influence BFP. Therefore, it is advisable to focus on (raising) customer expectations in repeat purchases if the businesses want to achieve higher financial performance.
ER  -

SUCHÁNEK, Petr a Maria KRÁLOVÁ. Relationship Between Customer Expectations and Financial Performance of Food Industry Businesses in a Customer Satisfaction Model. \textit{Economic and Business Review}. 2023, roč.~25, č.~2, s.~103-117. ISSN~1580-0466. Dostupné z: https://dx.doi.org/10.15458/2335-4216.1320.

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