Consumer Perceived Value in Understanding Herbal Medicine Consumption: A Conceptual Model

Adeline Y. L. Tam, Rohaizat Baharun and Zuraidah Sulaiman

Journal of Business and Social Review in Emerging Economies, 2019, vol. 5, issue 1, 9-18

Abstract: Introduction: Facing extensive competition, the marketers and producers of herbal medicine products (HMP) should pay more concern to maintaining repeat purchases and keeping customers loyal with their products.&Purpose: This study aims to (1) propose the dimensions of consumer perceived value (CPV) for HMP; and (2) propose a conceptual framework to test CPV influences on consumption behavior, repurchase intention and customer loyalty.&Methodology: The value dimensions of HMP included functional value (price), functional value (quality), social value, emotional value (feeling), and conditional value (holistic treatment value).& CPV was proposed as an antecedent of repurchase intention and customer loyalty.&Implications:& A conceptual framework with a second-order multi-dimensional CPV as the antecedent of repurchase intention and customer loyalty was proposed.& This article proposed a conceptual framework to analyze the influence of value dimensions on HMP.& This could provide useful theoretical insights into the values perceived in HMP consumption behavior.

Keywords: Teachers’ Herbal Medicine Products; Consumer Perceived Value; Repurchase Intention; Customer Loyalty; Consumption Behavior (search for similar items in EconPapers)
Date: 2019
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Persistent link: https://EconPapers.repec.org/RePEc:src:jbsree:v:5:y:2019:i:1:p:9-18

DOI: 10.26710/jbsee.v5i1.614

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