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A Critical Review Of "An Integrated Model Of Price, Satisfaction And Loyalty: An Empirical Analysis In The Service Sector" By David Martin Consuegra,

783 words - 3 pages

Business is involved in human's everyday life and it is considered as a huge field, and in this field I am interested in marketing. Some people have defined marketing as the processes to deliver a product from the producer to the consumer, who are the main point of the existence of any company, therefore it is important to make sure that those customers are satisfied. The aim of this article is to investigate the relationship between the price and customer satisfaction, by studying the use of price fairness and price acceptance and how that led to satisfied customers, which supported my hypothesis that customer satisfaction is strongly affected by price. According to the article, price fairness, which is the balance between the price, the standard and the performance of the product or the service, and price acceptance, which is the maximum amount of money that customers are willing to pay for a product or service, are effecting consumer satisfaction. The aim of the article is to prove the relationship between customer satisfaction and the price. Consequently, if the price, from the customers point of view, is reasonable and it meets the provided performance that will lead to satisfied consumers. Thus, customers are willing to spend more money for goods or services that provide greater satisfaction. The article also provide a research which was done on the airline industry focusing on international airline passengers who were asked to focus on the airline they usually used. The research involved questions regarding price fairness, price acceptance and customer satisfaction and according to the article.
Despite the many negative aspects which have been presented in this article, it has contained several positive points. The first positive point is the importance of the studied matter. This article has focused on the price, which is one of the most effective aspects, that influencing customer satisfaction. The importance of price has been ignored until recent years, since then, many researches have been done in order to show the relationship between the price and customer satisfaction.
Another point is the selection of the industry that involved in the study, which has been chosen by industrial experts who have been interviewed, and these interviews "revealed that the relationship between the dual entitlement principle and satisfaction is particularly relevant in the airline industry." (David, Arturo and Agueda, 2007, pp.462.) Authors were directed to the...

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