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Further Insights into Perceived Value and Consumer Loyalty: A “Green” Perspective Monika Koller, Arne Floh, and Alexander Zauner Wirtschaftsuniversität Wien, Austria ABSTRACT “Green consumption” is an increasingly important topic in today’s society. The effect of the ecological value provided by traditionally non-green products, such as automobiles, on their consumer’s post- purchase behavior, such as brand or model loyalty, requires further clarification. The present study provides qualitative and quantita- tive insights from car users on how the ecological aspect of consump- tion integrates into the link between perceived value and consumer loyalty intentions (value–loyalty link). In general, car usage is accom- panied by perceived functional, economic, emotional, and social value. Perceived ecological value is shown to have a significant impact on these four value dimensions. The relevance of “green to have quality,” “green to save money,” “green to feel good,” and “green to be seen” in relation to loyalty intention is discussed. Results of a structural equation model and multigroup analysis provide the opportunity to derive both theoretical and applied implications. © 2011 Wiley Periodicals, Inc. “Green consumption” is a high-ranking and popular topic in a modern society all too aware of the problems related to global warming (Whitmarsh, 2009). Simply Googling the term “green consumption” currently yields more than 50,000 Psychology & Marketing, Vol. 28(12): 1154–1176 (December 2011) View this article online at wileyonlinelibrary.com/journal/mar © 2011 Wiley Periodicals, Inc. DOI: 10.1002/mar.20432 1154

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Page 1: Further insights into perceived value and consumer loyalty: A … · purchase behavior,such as brand or model loyalty,requires further clarification.The present study provides qualitative

Further Insights into Perceived Value and Consumer Loyalty:A “Green” PerspectiveMonika Koller, Arne Floh, and Alexander ZaunerWirtschaftsuniversität Wien, Austria

ABSTRACT

“Green consumption” is an increasingly important topic in today’ssociety. The effect of the ecological value provided by traditionallynon-green products, such as automobiles, on their consumer’s post-purchase behavior, such as brand or model loyalty, requires furtherclarification. The present study provides qualitative and quantita-tive insights from car users on how the ecological aspect of consump-tion integrates into the link between perceived value and consumerloyalty intentions (value–loyalty link). In general, car usage is accom-panied by perceived functional, economic, emotional, and socialvalue. Perceived ecological value is shown to have a significantimpact on these four value dimensions. The relevance of “green tohave quality,” “green to save money,” “green to feel good,” and “greento be seen” in relation to loyalty intention is discussed. Results of astructural equation model and multigroup analysis provide theopportunity to derive both theoretical and applied implications.© 2011 Wiley Periodicals, Inc.

“Green consumption” is a high-ranking and popular topic in a modern societyall too aware of the problems related to global warming (Whitmarsh, 2009).Simply Googling the term “green consumption” currently yields more than 50,000

Psychology & Marketing, Vol. 28(12): 1154–1176 (December 2011)View this article online at wileyonlinelibrary.com/journal/mar© 2011 Wiley Periodicals, Inc. DOI: 10.1002/mar.20432

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results and “buying green” 410,000. Patterns of car usage rank particularlyhighly within the environmental discussions generated by the climate crisis(Ferguson & Branscombe, 2010). Topics such as CO2 emissions and energy effi-ciency are only two out of a multitude of controversial issues in this regard. Asconsumers become increasingly aware of the potentially negative effects of con-sumption on the natural environment, ecological value is likely to become animportant factor in the consumption of automobiles. Traditionally, the motivesof car users are not only based on functionality but also on social and emotionalfactors (Steg, 2005). Although experts evaluate automobiles based on designand functionality, ordinary drivers evaluate their cars based on their overallexperience (Moon, Bergey, & Iacobucci, 2010). Moreover, consumption decisionsrelated to automobiles are characterized by a high level of involvement. This isdue to the significant monetary and social risks involved. If the purchase is, forinstance, not socially approved by others, negative phenomena such as cognitivedissonance are likely to arise (Engel, 1963; Festinger, 1957; Straits, 1964). In con-trast to organic products, the role of the perceived ecological value derived fromthe usage of traditionally non-green product categories, like automobiles, remainsunexplored. Perceived ecological value may influence value perceptions in theother dimensions. This is crucial from a marketing perspective because differentvalue dimensions may have different effects on loyalty perceptions (Pihlström &Brush, 2008).

Besides household energy use and nutrition, mobility is among the mostprominent environmentally influential behavior domains (Kaiser et al., 2003).While recent research suggests that companies generally recognize that envi-ronmental issues capture consumer attention and may influence purchasingdecisions (Bang et al., 2000), further knowledge of the role of ecological value inthe consumption process would provide more comprehensive information regard-ing its effect on postconsumption behavior and loyalty decisions.

Given such a wide range of similar product options from many manufactur-ers, along with low switching barriers, today’s consumers can easily transfertheir business among multiple companies (Liu, 2007). Hence, keeping a loyal cus-tomer base is a major asset for a manufacturer. All major car brands are invest-ing in new technologies to make gasoline-powered cars more environmentallyfriendly, such as the BlueMotion from Volkswagen and the EfficientDynamicsline from BMW. Within the next decade, all major car manufacturers are plan-ning also to launch models with alternative power sources such as hybrids(gas–electric powertrain) or e-versions of their brands. Car expert Wayne Cunningham relates, “We’ve seen a growing number of electric cars at autoshows over the last few years, but the 2010 Detroit show has more electricsfrom major brands than ever before” (Cunningham, 2010). Introducing moreenvironmentally friendly cars to the market significantly enhances the choicesavailable to the consumer, not only within but also across different brands. Fromthe car industry’s perspective, customer retention activities will be a much morepronounced necessity when consumers are likely to substitute their purchasesfor ecological reasons. The relevance of perceived ecological value for the perceivedfunctional, economic, emotional, and social value associated with the usage ofcars is vital information for car manufacturers because perceived value has highexplanatory power for the loyalty intentions of consumers (Cronin, Brady, &Hult, 2000; Parasuraman & Grewal, 2000; Yang & Peterson, 2004).

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Despite the potential impact of this information, no study currently existsanalyzing the link between perceived value and loyalty intentions toward acompany from an ecological perspective. This paper develops the idea of theexistence of an ecological value phenomenon, influencing loyalty intentionstoward the respective firm via its impact on the other four value dimensions.Building on these theoretical underpinnings, the aim of this paper is to advanceexisting knowledge in the field along four dimensions: First, a scale for meas-uring perceived ecological value is proposed. Second, the role of ecological valueperceptions in relation to the other four value dimensions is assessed. Third, therole of ecological value in the value–loyalty link is investigated using a struc-tural model. Finally, moderating variables are included to account for differentsubgroups in the value–loyalty link.

THEORETICAL BACKGROUND AND HYPOTHESES

The conceptual framework guiding the present study is depicted in Figure 1.Based on the literature review, hypothesized relations among the latent variableshave been derived. First, the study assesses the impact of ecological value on thefour value dimensions: functional, economic, emotional, and social. Second, eachof the four value dimensions is assumed to have a different impact on loyaltyintentions. Moreover, the indirect effect of ecological value on loyalty via thefour other value dimensions is investigated. Additionally, moderating effects ofgender, the newness of the car, and general attitudes toward the protection ofthe natural environment are proposed. In the following material, the theorybehind each of the hypothesized relations is described in further detail.

EcologicalValue

SocialValue

FunctionalValue

EmotionalValue

EconomicValue

LoyaltyIntentions

Moderators:Gender, Newness of Car,General Attitude TowardEnvironment Protection

Figure 1. Conceptual model.

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Perceived Ecological Value

In today’s marketplace, customer value has become one of the most powerfulforces (Patterson & Spreng, 1997). Holbrook (1994, p. 22) even states: “. . . cus-tomer value is the fundamental basis for all marketing activity.” Previousresearch focused on the development, composition, and sound measurement ofthe value construct. A multidimensional conceptualization is needed to ade-quately capture the presence of both cognitive (functional and economic) andaffective (emotional and social) factors in the nature of value (Holbrook, 1994;Sánchez-Fernández, Iniesta-Bonillo, & Holbrook, 2009; Sheth, Newman, & Gross,1991; Sweeney & Soutar, 2001), as consumption experiences usually involvemore than one type of value simultaneously (Sweeney & Soutar, 2001; Holbrook,1994; Sheth, Newman, & Gross, 1991).

Empirical knowledge on perceived ecological value, that is consumption-related issues regarding the natural environment and the impact made on it byhumans, is still scarce. This is unfortunate because, in recent years, the linkbetween consumption and possibly harmful effects on the natural environmenthas become more important than ever. Following a decline in environment-related marketing research during the 1980s, the last few years have produceda strong resurgence (Kilbourne, Beckmann, & Thelen, 2002; Nataraajan &Bagozzi, 1999). This trend in academic research is in line with an increasingpublic interest in the topic of “green consumption.” Sustainability is trendybecause there is a growing consensus among the general public that somethingneeds to be done to stop climate change (Meijers & Stapel, 2011). Studies inconsumer psychology have found status motives to be fundamental drivers forpurchasing green products when shopping in public and when green productscost more than their non-green counterparts (Griskevicius, Tybur, & Van denBergh, 2010). These results suggest that environment-related thoughts havemultilayer effects on consumer behavior. Green consumption seems to be trig-gered by a complex pattern of both cognitive and affective elements. Amongthese elements, goal-oriented behavior can be led by altruistic, social, and emo-tional factors. Therefore, testing for ecological value and how it integrates intoother value dimensions, such as functional, economic, emotional, and socialvalue, is a promising pathway for gaining a more comprehensive understand-ing of green consumption behavior. Recent research has produced further evi-dence that the relevance of emotional, hedonic, and social aspects should not beunderestimated. Whereas functional and economic elements of perceived valueare importantly related to the product or service, emotional, hedonic, or socialfacets are tightly connected to the individual’s self-perception. To a certainextent, the latter value dimensions are also a means of conveying symbolic infor-mation to an individual’s social environment. Facing this fact, as well as takingthe results from the aforementioned consumer psychology studies on statusmotives into account (Griskevicius, Tybur, & Van den Bergh, 2010), the ecologi-cal value dimension is not only assumed to refer to the value delivered by con-suming environmentally friendly products or services. It may also offer anothermeans for consumers to convey expressions about their self-concept to a public audi-ence. In the consumption context of the automobile, consumers rarely act purelyrationally; their emotions play a dominant role (Steg, 2005). However, rationalcognitions about whether using a car might negatively affect the natural envi-ronment might have a significant impact on how the car is perceived in termsof emotional value. Based on these theoretical underpinnings, ecological value

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is assumed to be interrelated with functional, economic, emotional, and socialvalue.

Ecological Value and Functional Value. When car users are askedabout their primary motives for car usage, factors related to speed, independ-ence, and comfort score highest (Tertoolen, Van Kreveld, & Verstraten, 1998).Mobility is one of the core assets gained from cars. Hence, frictionless func-tioning is a necessary precondition for creating customer value. Environmentallyfriendly cars are usually state-of-the-art regarding technology. Reduced CO2emissions and better fuel economy are important characteristics of many newmodels. Therefore, “green to have quality” is the rationale for the followinghypothesized effect:

H1a: Perceived ecological value is assumed to positively influence perceivedfunctional value.

Ecological Value and Economic Value. Many types of green productstend to save money in the long run. This is true for energy-saving lightbulbs andhybrid cars. However, from a short-term perspective, purchasing a hybrid car ismore expensive than purchasing a comparable non-hybrid car (Griskevicius,Tybur, & Van den Bergh, 2010). Therefore, the influence of ecological value oneconomic value perceptions may vary between the time of purchase and over theusage period. The present study refers to the period of usage. Eco-friendly carstend to be more efficient regarding fuel consumption. Hence, “green to savemoney” is the rationale behind the next proposed hypothesis:

H1b: Perceived ecological value is assumed to positively influence perceivedeconomic value.

Ecological Value and Emotional Value. According to attachment the-ory, consumers tend to be emotionally attached to products and brands (Thomson,MacInnis, & Park, 2005; Yim, Tse, & Chan, 2008). In this regard, cars are espe-cially prone to elicit strong emotional feelings. They often have a symbolic char-acter (Steg, 2005). Sustainable consumption behavior is compatible withconservation of the natural environment and therefore usually associated with positive feelings (Corall-Verdugo et al., 2009). Therefore, “green to feelgood” is the rationale behind the proposed hypothesis:

H1c: Perceived ecological value is assumed to positively influence perceivedemotional value.

Ecological Value and Social Value. In making green consumption deci-sions, consumers are faced with a social dilemma. Either they can try to behavein an environmentally friendly manner and contribute to society or they cantry to maximize their own benefits, regardless of the consequences for the gen-eral public. Consumers who place a high importance on having warm relation-ships with others often also consider ecological issues when making purchases(Corall-Verdugo et al., 2009; Laroche, Bergeron, & Barbaro-Forleo, 2001). By pur-chasing a hybrid car, a person can signal to others that he or she is a pro-socialrather than a pro-self individual. This phenomenon is based on costly signaling

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theory and research on competitive altruism (Griskevicius, Tybur, & Van denBergh, 2010). According to a 2007 report in the New York Times, owners of thehybrid Toyota Prius cited social signaling, such as how their automobile choicemade a personal statement, as the highest ranking reason for their purchase (“itmakes a statement about me”). Higher fuel economy and lower emissions are notthe predominant factors behind consumers’ selections (Griskevicius, Tybur, & Van den Bergh, 2010; Maynard, 2007). Therefore, “green to be seen” (Griskevicius,Tybur, & Van den Bergh, 2010) is the rationale behind the following proposedhypothesis:

H1d: Perceived ecological value is assumed to positively influence perceivedsocial value.

Perceived Value and Loyalty Intentions

Value orientation plays a crucial role for both companies and customers. Froma company’s perspective, creating market offerings that deliver facets of valueto the customer is of the utmost importance. On the customer side, value per-ceptions are omnipresent throughout the whole consumption process. Prior topurchase, consumers tend to anticipate the value they expect to receive by buy-ing the product or consuming the service. This value anticipation is also calleddesired value (Woodruff, 1997) and predominantly guides the decision-makingprocess. After purchase and during the consumption period, the product or serv-ice chosen delivers the facets of value to the customer. These benefits, gainedthroughout the entire consumption process, are always subject to the customer’sindividual perceptions. These perceptions, however, can be triggered by a com-pany’s efforts regarding the communication of value-based product specifics andadvantages. Value creation is reflected in a company’s entire marketing mix(Cengiz & Yayla, 2007). Value orientation is therefore a major source of com-petitive advantage (Woodruff, 1997), just as a loyal customer base is a majorasset in a dynamic market environment. Except for research on service qualityas a prerequisite to the value–loyalty link (Bolton & Drew, 1991), knowledge ofthe antecedents of multiple value dimensions is scarce. There are no empiricalresults on how the antecedent of ecological value integrates into the value–loyalty chain. While various studies have been conducted on consumers’ generalenvironmental concern, an integration of ecological attitudes and value per-ceptions is yet to come. Moreover, based on various hints from previous research(Heskett et al., 1994; Parasuraman & Grewal, 2000; Patterson & Spreng, 1997;Reichheld, 1996; Tam, 2004), customer value is assumed to be the key determi-nant of postconsumption intentions such as loyalty and word-of-mouth recom-mendations (Cengiz & Yayla, 2007; Lin, Sher, & Shih, 2005). Higher levels ofcustomer value lead to higher levels of customer loyalty. In the long run, this deter-mines an organization’s success (Cronin, Brady, & Hult, 2000; Snoj, Korda, &Mumel, 2004; Ulaga & Chacour, 2001). As ecological value is assumed to be a pre-requisite to the other value dimensions, this study proposes that ecological valuehas an indirect effect on loyalty intentions. Based on these theoretical founda-tions, the following hypotheses are raised:

H2a: Perceived functional, economic, emotional, and social value impact loy-alty intentions toward the manufacturer.

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H2b: Perceived ecological value impacts loyalty intentions toward the manu-facturer via perceived functional, economic, emotional, and social value.

Moderating Variables

Demographics and Psychographics. Moderating variables reflectingdemographics and personal attitudes might reveal varying impacts of the valuedimensions on loyalty intentions. It is assumed that ecological value and theother four value dimensions are not equally important to all customers. Differ-ent segments of consumers are expected.

Although previous findings about the impact of demographic characteristicson consumers’ environmentally conscious behavior are contradictory, there isconsensus that they exert a significant influence (Laroche, Bergeron, & Barbaro-Forleo, 2001). Moreover, the consumption context of automobiles isprone to different dynamics regarding males and females (Polk, 2004). There-fore, the following hypothesis is proposed:

H3a: Gender moderates the relation between perceived ecological value andloyalty intentions via perceived functional, economic, emotional, and socialvalue.

As a second moderating variable, the model considers the newness of the carat the time of purchase, comparing two groups of car buyers: those who boughta new car and those who bought a used car. Buying a new car is a purchasedecision with high involvement, including a high level of emotion and usuallya relatively high price. Therefore, it is proposed that the influence of the multi-ple value dimensions differs among the two groups of car buyers:

H3b: The newness of the car at the time of purchase moderates the relationbetween perceived ecological value and loyalty intentions via perceivedfunctional, economic, emotional, and social value.

A radical green consumer refuses to buy anything that is not absolutely nec-essary. Accounting for an increasingly convenience- and consumption-orientedsociety, green consumerism in reality merely reflects consumption behaviorcharacterized by carefully choosing products and services that are the leastdestructive to the natural environment without significantly compromisingone’s way of life (Moisander, 2007). Considering personal values that vary inimportance for each individual and serve as guiding principles in people’s livesmay serve to produce a clearer understanding of the motivational determinantsbehind peoples’ desire to behave in an environmentally friendly manner (Laroche,Bergeron, & Barbaro-Forleo, 2001). De Groot and Steg (2010) argue that prac-titioners should promote pro-environmental preferences and intentions by mak-ing biospheric and altruistic values more salient in their intervention. Whilevalues are relatively stable and enduring over time, stimulating people’s bios-pheric values might change their attitudes toward a more pro-environmental ori-entation (De Groot & Steg, 2010). Hence, the following hypothesis is proposed:

H3c: The consumer’s general attitude toward environmental protection mod-erates the relation between perceived ecological value and loyalty inten-tions via perceived functional, economic, emotional, and social value.

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METHODOLOGY AND DATA ANALYSIS

To empirically address the proposed hypotheses, a two-step methodologicalapproach was applied. First, a qualitative assessment was conducted to providemore comprehensive knowledge of the theoretical conceptualization of ecologi-cal value. As this concept is new to the scientific discussion on customer perceivedvalue, a sound conceptual base regarding the content validity of the constructis needed prior to developing a measurement scale and assessing constructvalidity and reliability. As a second step, a quantitative study was conducted. Thequantitative study serves three purposes: First, the items generated in the qual-itative pre-study are tested regarding their appropriateness for inclusion in ameasurement scale satisfying psychometric properties. Second, ecological valueis introduced into a structural model explaining loyalty intentions via func-tional, economic, social, and emotional value perceptions. Third, moderatingvariables are used to test for the existence of subgroups regarding the value–loyalty link, providing ample theoretical and applied implications.

Study 1: Qualitative Assessment

The major aim of the qualitative pre-study was to increase the conceptual under-standing of the facets of ecological value, in the consumption context of auto-mobiles, including corresponding after-sales and maintenance services. Moreover,the pre-study generated items for measuring perceived ecological value.

Procedure. A focus group discussion was held in mid-May 2010 at the prem-ises of a large European business school. Six car owners between the ages of 20 and 55 participated in the two-hour discussion. The focus group was moder-ated by two academics in marketing research, who followed a semi-structuredinterview guideline. The discussion was audiotaped and transcribed. Tworesearchers separately carried out coding, content analysis, and interpretationof the data, leading to consistent results. Topics related to environmental issuesare especially prone to be biased by the social desirability behavior of the respon-dents. There can be a considerable gap between reported attitudes and actualbehavior (Glasman & Albarracin, 2006). To deal with this issue, the focus groupdiscussion predominantly made use of projective questions as stimuli. As a firsttask, the participants were grouped into three pairs and asked to prepare a col-lage (Koll, von Wallpach, & Kreuzer, 2010), with the instruction: “Select imageswhich reflect your personal associations with cars.” The participants received aset of about 150 photos and text material, randomly selected from 30 maga-zines and newspapers prior to the focus group. The material covered varioustopics, including images related to the five value dimensions under scrutiny.Each of the three pairs created and subsequently presented their collage andexplained their reasons for choosing the selected images.

Results. All three collages included environmental issues. However, other fac-tors (mobility, cost, luxury, self-expression, sportiness, and pleasure) turned outto have the most dominant associations with the automobile consumption sys-tem. The participants mostly discussed environment-related issues within thecontext of automobile energy efficiency. Economic reasons, such as fuel

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consumption and related costs, turned out to be most relevant in this context.One pair revealed that they had included an image of an “animal wearing an oxy-gen mask” in their collage to symbolize the need for new market offerings thatare less harmful to the natural environment. The main results of the collagetask were subsequently reflected in all the other topics that were discussed dur-ing the focus group. The focus group participants indicated a general aware-ness of ecological issues in the automotive context. Yet, when asked about thefactors on which they based the purchase decision of their present cars, none ofthe participants mentioned ecological reasons. A key result was that the par-ticipants predominantly expected “green behavior” to be carried out by the auto-motive industry, in terms of production and accompanying services. Regardingthe purchase decision process, vehicles with alternative technology, such ashybrid or electric models, impose an additional amount of research effort priorto the purchase decision in comparison to cars with traditional engines. Theparticipants mentioned that they were in general interested in alternative offer-ings but, when it came to the purchase decision, they would still be skeptical.Reasons mentioned for this skepticism included uneasiness with new forms oftechnology, which are lacking in long-term research and incur high prices. Onthe individual level, “buying green” is not only related to contributing to theprotection of the natural environment; as well as the altruistic motives for suchbehavior, it is also associated with increased social status. From a customer’s per-spective, behaving ecologically is expected to be positively evaluated by the pub-lic audience. By driving a hybrid or electric car, the participants said, they wouldexpect to get social credit, although having to pay more for a hybrid than a non-hybrid would raise discomfort and might be difficult to explain to family andfriends.

Discussion. These findings underline the idea that cars are a specific prod-uct category with a strong symbolic character. Driving a car is not only a meansof transportation but also a means of self-expression. Regarding the multidi-mensional value concept, these results give an early empirical hint of the exis-tence of the hypothesized relations between ecological value and the other valuedimensions. Ecological value might be a prerequisite to the functional and eco-nomic dimensions (e.g., regarding energy efficiency and fuel consumption) aswell as to the emotional and social dimensions (e.g., pertaining to status motives).These tentative assumptions derived from the qualitative, exploratory studywere further addressed in the quantitative study, which incorporated a largersample, to check whether they are valid for a broader population.

Study 2: Quantitative Assessment

Participants. In total, data were collected from 228 paper-and-pencil inter-views based on a quota sample. The sample consists of 48% female and 52% malerespondents, with an average age of 38 years. Persons with an urban backgroundare well represented, with 75% living and working in urban agglomerations and25% in rural areas. Forty-one percent of the respondents drive a new car and59% a second-hand or demonstration car. Ninety percent use their car mainly for private purposes, the remaining 10% requiring their car for professional rea-sons. More than half of the respondents are members of an automobile club.

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In terms of responsibility for environmental protection, 66% of the respondentsbelieve that automobile manufacturers are responsible. Interestingly, 33% seethe responsibility as mainly their own and only 1% see it as the car dealer’sresponsibility. Thirty-five percent of the respondents have only ever used one cardealer, and 27% have only changed dealers once or twice. More than 30% of therespondents have never changed their car brand, with around 80% having boughtno more than three different car brands. These results indicate that loyalty isan important issue in the automotive industry.

Measures and Procedure. The conceptualization of the value dimensionsis based on Sheth, Newman, and Gross (1991) and Sweeney and Soutar (2001).An extended four-dimensional conceptualization of customer value is adaptedfrom other studies (Sweeney & Soutar, 2001; Wang et al., 2004; Zeithaml, 1988)to the present application of automobiles. The four dimensions can be describedas follows: (1) functional value (performance/quality)—the utility a market offer-ing provides through its expected performance and perceived quality; (2) economicvalue (price/value for money)—the utility an offering provides in proportion tothe overall costs (output/input ratio); (3) emotional value—the utility an offer-ing creates through feelings or affective states; (4) social value—the utility amarket offering provides through its ability to enhance the individual’s socialself-concept (Sweeney & Soutar, 2001).

Ecological value is introduced into the conceptual model. The construct ofecological value is conceptualized as a positive value perception from a cus-tomer perspective. Ecological value represents the amount of perceived value gen-erated by consuming environmentally friendly products, or those that are lessdestructive to the natural environment.

Items to measure ecological value were generated based on the literaturereview and the focus group discussion. Additionally, five think-aloud interviewswere conducted to recheck the face validity and wording of the items. Includedin the survey were all the items for measuring ecological value that were gen-erated in the qualitative pre-study. Doing so enabled a measurement scale to bedeveloped based on validity and reliability criteria (employing exploratory andconfirmatory factor analysis, Cronbach’s alpha, composite reliability, and aver-age variance extracted). Loyalty is conceptualized as a reflective construct com-prising the intention to repurchase the same car brand and to recommend thecar to friends and family members. Items were drawn from Johnson, Herrmann,and Huber (2006). The quantitative study measured each construct with at leastthree items, as suggested by Gerbing and Anderson (1988). It used a 7-pointrating scale, with end points verbalized as “strongly disagree” (scored 1) and“strongly agree” (scored 7) throughout the survey.

Assessment of Measurement Properties. First, the measurement mod-els for all latent constructs in the structural model were assessed. As ecologicalvalue was being introduced, scale purification was carried out using exploratoryfactor analysis (see Table 1). The factor structure of the scales for measuring eco-logical value and the other four value dimensions was tested. The principal com-ponent analyses revealed five eigenvalues greater than 1, suggesting a five-factorsolution. Table 1 shows that the factor loadings on their intended constructsare all well above 0.6, with no cross-loadings higher than 0.4. Item loadingslower than 0.2 are not reported in the table. The exploratory factor analysis

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reveals a simple factor structure. The data confirm the multidimensional con-ceptualization of customer value.

In the next step, a confirmatory factor analysis assessed the scale propertiesof the measurement model.The results show excellent global fit indices (x2 � 237;df � 137; CFI � 0.942; TLI � 0.928; RMSEA � 0.057; SRMR � 0.052) as well ashighly satisfactory measurement properties of the scales (Marsh, Hau, & Wen,2004; Sharma et al., 2005). Specifically, all factor loadings were highly significant(p � 0.001) and exceeded the suggested threshold of 0.5, demonstrating a highlevel of convergent validity in the measurement model (Dunn, Seaker, & Waller,1994). The composite reliability (CR), average variance extracted (AVE), andCronbach’s alpha scores (CA) suggest a high level of internal consistency (seethe Appendix) (Bagozzi & Yi, 1988). Additionally, the model achieves sufficientdiscriminant validity, since the square root of the AVE is greater than the cor-relation for each pair of factors (Fornell & Larcker, 1981). The matrix of con-struct correlations as well as the values of CR, AVE, and the square roots of AVE,for each construct are documented in Table 2. A full list of items, including fac-tor loadings, CR, AVE, and CA, are included in the Appendix.

Common method bias may occur when both independent and dependent vari-ables are obtained from the same data source (Jayachandran et al., 2005). Toinvestigate whether common method variance biases the data in this study, aHarman one-factor test of the six reflective multi-item constructs (five valueconstructs and loyalty) was conducted (Frenzen et al., 2010; Podsakoff & Organ,1986). Factor analysis revealed a six-factor solution (with each indicator load-ing on the expected factor), which accounted for 72% of the total variance. Addi-tionally, no general factor was found in the unrotated and rotated factor structure.

Table 1. Results from the Exploratory Factor Analysis.

Item Ecol. Func. Econ. Emo. Soc.

Is environmentally friendly 0.879Pollutes the environment only marginally 0.844Is more environmentally friendly than 0.815other cars

Is very reliable 0.689 0.348Provides good performance 0.830Has an acceptable standard of quality 0.839

Offers value for money 0.804Is fairly priced 0.874Compared to other cars, my car is economical 0.803

Makes me want to use it more often 0.782Makes me feel good 0.731To drive my car gives me pleasure 0.825

Colleagues and friends envy me for my car 0.860Improves the way I am perceived by others 0.857Helps me to feel distinct from other people 0.707

Eigenvalue 4.205 2.495 1.780 1.374 1.074

Note: Ecol. � Ecological value, Func. � Functional value, Econ. � Economic value, Emo. � Emotional value,Soc. � Social value.

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The first factor accounts for 15% of the variance. Therefore, the authors con-clude that common method bias is unlikely to be an issue in this data set.

RESULTS

Structural Model

To examine the hypothesized relationships, a structural model was computedusing Mplus 6. The overall fit of the model was satisfactory, with indices of x2(df) � 313(144), CFI � 0.903, RMSEA � 0.072, and SRMR � 0.099. Hence, itcan be concluded that the proposed conceptual model is supported by the data.

Table 3 shows the path coefficients for the effects of ecological value on func-tional, economic, emotional, and social value. In turn, the impact of these fourvalues on loyalty intentions was calculated. All relationships, except the linkbetween economic value and loyalty, are substantial and significant at the 0.05level. Whereas ecological value has the highest impact on economic value, thefunctional aspect has the largest impact on loyalty. Overall, 43% of loyalty isexplained by value, supporting the importance of the construct of perceived cus-tomer value as an antecedent of customer loyalty. In terms of the hypotheses,the empirical results support H1a–d. Ecological value significantly enhancesperceptions along the four other value dimensions. For H2a, only the effects offunctional, emotional, and social value on loyalty intentions are supported, butnot that of economic value.

Table 2. Construct Correlations and Fit Indices.

CR AVE 1 2 3 4 5 6

1 Ecological value 0.85 0.66 0.8122 Functional value 0.75 0.50 0.274 0.7093 Economic value 0.81 0.59 0.420 0.115 0.7694 Emotional value 0.78 0.54 0.272 0.074 0.114 0.7375 Social value 0.82 0.61 0.277 0.076 0.116 0.075 0.7816 Loyalty 0.82 0.54 0.268 0.580 0.116 0.257 0.281 0.733

Note: Square roots of AVEs are presented on the diagonal. Construct correlations are below the diagonal.

Table 3. Path Coefficients and t-Values.

Path Unstand. t-Values Stand. t-Values

Ecological value → Functional value 0.146 3.181** 0.274 3.528**Ecological value → Economic value 0.293 5.054** 0.420 6.152**Ecological value → Emotional value 0.258 3.154** 0.271 3.354**Ecological value → Social value 0.336 3.359** 0.277 3.805**

Functional value → Loyalty 0.862 5.706** 0.548 7.685**Economic value → Loyalty 0.006 0.066 0.005 0.066Emotional value → Loyalty 0.177 2.278** 0.199 2.302**Social value → Loyalty 0.157 2.931** 0.224 2.980**

** p � 0.05.

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Table 4 presents the results of the mediation analyses. The indirect effects ofecological value on loyalty are significant for three out of four value dimensions(functional, emotional, and social). Hence, the data partially support H2b. Themediated effect via functional value is the highest of the three, significantlylarger than the rest. On the other hand, the sum of the significant effects of theaffective value facets (emotional and social value) is almost as large as the sig-nificant effect of the cognitive facet (functional value).

Discussion and Robustness Checks. The study has proven the hypothe-ses of the conceptual model in the context of automobiles. The effect of per-ceived ecological value on customer loyalty intentions is fully mediated by theremaining sub-dimensions of customer perceived value. Whereas all main valuedimensions are influenced by the ecological facet, the effect on loyalty is onlysignificant for the functional, emotional, and social ones. Interestingly, the cog-nitive aspects of customer value seem to be equally important as the affectiveones in building customer loyalty intentions. Overall, functional value is thedominant single facet of customer value. The authors conducted two types ofrobustness checks. First, they tested the proposed mediation effect of the con-ceptual model by adding a direct path from ecological value to loyalty. Asexpected, the link is neither relevant nor significant (standardized parameterestimate � �0.027, p � 0.712). Accounting only for ecological value, and neglect-ing the relevance of the other four value dimensions, falls short of predictingloyalty intentions. The survey included a question about the “environmental con-cerns taken into account during last car purchase.” This provides an opportu-nity to back up the robustness of the model. A multigroup analysis showedthat, for consumers who reported that concerns about environmental issuesplayed a significant role in their last car purchase, ecological value played amuch more pronounced role in predicting the remaining value dimensions. Forinstance, the path coefficients for the link between ecological value and economicvalue are 0.765 (environmental concerns), compared to 0.361 (no environmen-tal concerns) (see Table 5).

Moderating Variables

In the case of perceived ecological value, the authors assume that there is het-erogeneity in the data. In order to test the effect of selected moderators, thestudy incorporated a series of multigroup analyses. Results for unstandardizedand standardized parameters are reported in Tables 6 and 7.

Table 4. Indirect Effects of Ecological Value on Loyalty—Mediation Analysis.

Unstand. t-Values Stand. t-Values

Ecological value → Functional value → Loyalty 0.127 2.972** 0.150 3.172**Ecological value → Economic value → Loyalty 0.002 0.066 0.002 0.172Ecological value → Emotional value → Loyalty 0.046 1.889* 0.054 1.893*Ecological value → Social value → Loyalty 0.053 2.294** 0.062 2.353**

* p � 0.1; ** p � 0.05.

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Gender. Starting with the moderating effect of gender, the multigroup analy-ses revealed a significant difference regarding the importance of the multiplevalue dimensions as antecedents to customer loyalty. The functional facet of value is important for both female and male car drivers. Whereas the eco-nomic facet is more important for female car drivers, the loyalty of male cus-tomers is more strongly influenced by the emotional aspects of customer value.Additionally, the mediating effects of ecological value via emotional and eco-nomic value differ significantly between genders. However, these differencesare based on differences between men and women in terms of the aforemen-tioned effects of emotional and economic value on customer loyalty. Therefore,and in a strong sense, H3a has to be rejected.

New Versus Used Car. As a second moderating variable, the authors includedthe newness of the respondent’s car. The analyses revealed a significant differ-ence in the effect of ecological value on functional value, in that it is strongerfor used cars. Due to the differing influence of ecological value on functionalvalue, the mediating effect on loyalty intentions is also significantly differentbetween drivers of new and old cars. H3b can only be accepted partially.

General Attitude Toward Protection of the Environment. Finally,this study hypothesizes that the general attitude toward environmental protec-tion moderates the relation between ecological value and loyalty via the functional,economic, emotional, and social aspects of value. Again, the data partially support H3c. The effect of ecological value on all remaining value aspects is sub-stantially and significantly higher for people with higher scores on attitudetoward environmental protection. Interestingly, the greatest difference is in theeffect on emotional value. In terms of indirect effects, the mediating effect via func-tional value is significantly different and stronger for the high-scoring group.

DISCUSSION

Empirical research on ecological value in the context of traditionally non-greenproducts such as automobiles is scarce. However, both the literature review oncustomer value and the findings from this empirical study underline the importance

Table 5. Result from Multigroup Analysis—Robustness Check.

No Environmental EnvironmentalConcerns Influenced Concerns Influenced Last Car Purchase Last Car Purchase

Path Stand. Coeff. t-Values Stand. Coeff. t-Values

Ecological value → Functional value 0.208 2.205** 0.422 3.058**Ecological value → Economic value 0.361 4.303** 0.765 8.216**Ecological value → Emotional value 0.229 2.469** 0.575 4.424**Ecological value → Social value 0.238 2.694** 0.404 3.113**

** p � 0.05.

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Tab

le 6

.R

esu

lts

from

Mu

ltig

rou

p A

nal

yses

—M

oder

ator

An

alys

is.

Fem

ale

Mal

e

Un

stan

d.t-

Val

ues

Sta

nd.

t-V

alu

esU

nst

and.

t-V

alu

esS

tan

d.t-

Val

ues

Wal

d S

tati

stic

Eco

logi

cal v

alu

e →

Fu

nct

ion

al v

alu

e0.

215

3.25

0**

0.37

33.

730*

*0.

089

1.49

30.

180

1.54

02.

155

Eco

logi

cal v

alu

e →

Eco

nom

ic v

alu

e0.

250

3.43

3**

0.40

33.

905*

*0.

301

3.77

5**

0.40

74.

379*

*0.

245

Eco

logi

cal v

alu

e →

Em

otio

nal

val

ue

0.30

92.

693*

*0.

331

2.92

9**

0.24

32.

241*

*0.

259

2.30

3**

0.18

8E

colo

gica

l val

ue

→S

ocia

l val

ue

0.35

02.

493*

*0.

277

2.62

5**

0.27

12.

091*

*0.

222

2.16

6**

0.17

4

Fu

nct

ion

al v

alu

e →

Loy

alty

0.92

15.

020*

*0.

612

7.29

3**

0.91

34.

311*

*0.

542

5.11

8**

0.00

1E

con

omic

val

ue

→L

oyal

ty0.

222

1.59

30.

158

1.59

5*�

0.13

1�

1.23

3�

0.11

6�

1.25

04.

022*

*E

mot

ion

al v

alu

e →

Loy

alty

�0.

136

�1.

351

�0.

146

�1.

426

0.44

13.

553*

*0.

496

4.17

1**

12.2

62**

Soc

ial v

alu

e →

Loy

alty

0.22

73.

479*

*0.

330

3.76

5**

0.11

11.

423

0.16

21.

404

1.34

5

New

Car

Use

d C

ar

Eco

logi

cal v

alu

e →

Fu

nct

ion

al v

alu

e0.

017

0.29

20.

033

0.29

30.

232

3.41

7**

0.38

53.

478*

*5.

752*

*E

colo

gica

l val

ue

→E

con

omic

val

ue

0.39

34.

781*

*0.

509

6.01

4**

0.25

93.

468*

*0.

521

5.23

9**

1.61

5E

colo

gica

l val

ue

→E

mot

ion

al v

alu

e0.

166

1.59

80.

203

1.61

0*0.

345

3.03

2**

0.24

72.

039*

*1.

415

Eco

logi

cal v

alu

e →

Soc

ial v

alu

e0.

169

1.25

50.

134

1.27

9**

0.45

43.

607*

*0.

268

2.46

0**

2.45

5

Fu

nct

ion

al v

alu

e →

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alty

1.10

25.

111*

*0.

655

7.49

3**

0.69

83.

789*

*0.

468

4.44

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2.39

4E

con

omic

val

ue

→L

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ty0.

139

1.29

60.

123

1.29

7�

0.10

6�

0.75

1�

0.08

1�

0.75

61.

900

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otio

nal

val

ue

→L

oyal

ty0.

022

0.16

30.

020

0.16

20.

242

2.27

5**

0.29

12.

252*

*1.

605

Soc

ial v

alu

e →

Loy

alty

0.21

53.

119*

*0.

311

3.33

0**

0.11

41.

338

0.15

61.

332

0.83

7

Low

Att

itu

de T

owar

d H

igh

Att

itu

de T

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nvi

ron

men

tal P

rote

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nE

nvi

ron

men

tal P

rote

ctio

n

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logi

cal v

alu

e →

Fu

nct

ion

al v

alu

e0.

027

0.45

50.

053

0.45

70.

298

4.58

1**

0.53

55.

929*

*10

.444

**E

colo

gica

l val

ue

→E

con

omic

val

ue

0.12

91.

749*

0.19

51.

803*

0.51

56.

226*

*0.

663

9.12

7**

12.5

69**

Eco

logi

cal v

alu

e →

Em

otio

nal

val

ue

0.07

20.

674

0.07

60.

677

0.51

44.

441*

*0.

525

5.51

9**

9.12

9**

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logi

cal v

alu

e →

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ial v

alu

e0.

188

1.52

20.

167

1.54

90.

487

3.48

9**

0.36

53.

802*

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943*

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nct

ion

al v

alu

e →

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alty

0.98

04.

739*

*0.

590

5.96

1**

0.76

43.

687*

*0.

516

4.51

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0.71

4E

con

omic

val

ue

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ty0.

133

1.08

20.

104

1.08

3�

0.00

7�

0.05

6�

0.00

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0.05

60.

636

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otio

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249

2.40

0**

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62.

431*

*0.

068

0.59

40.

080

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01.

296

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ial v

alu

e →

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alty

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729*

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284

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81.

849*

0.20

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885*

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673

*p

�0.

1;**

p�

0.05

.

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Tab

le 7

.Res

ult

s fr

om M

ult

igro

up

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alys

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Mod

erat

or A

nal

ysis

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dir

ect

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nst

and.

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tan

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ues

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stan

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ues

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nd.

t-V

alu

esS

tati

stic

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logi

cal v

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nct

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alu

e →

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alty

0.19

82.

979*

*0.

228

3.31

7**

0.08

11.

395

0.09

81.

427

1.78

9E

colo

gica

l val

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con

omic

val

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→L

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ty0.

055

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60.

064

1.49

6�

0.03

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1.19

7�

0.04

7�

1.20

63.

618*

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colo

gica

l val

ue

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042

�1.

177

�0.

048

�1.

222

0.10

71.

869*

0.12

91.

928*

4.69

1**

Eco

logi

cal v

alu

e →

Soc

ial v

alu

e →

Loy

alty

0.08

02.

072*

*0.

092

2.18

3**

0.03

01.

176

0.03

61.

164

1.17

1

New

Car

Use

d C

ar

Eco

logi

cal v

alu

e →

Fu

nct

ion

al v

alu

e →

Loy

alty

0.08

11.

538

0.09

51.

577

0.16

52.

553*

*0.

208

2.81

9**

2.58

8*E

colo

gica

l val

ue

→E

con

omic

val

ue

→L

oyal

ty0.

003

0.09

20.

003

0.92

70.

037

0.71

90.

047

0.71

52.

082

Eco

logi

cal v

alu

e →

Em

otio

nal

val

ue

→L

oyal

ty0.

080

1.94

9**

0.09

21.

977*

*0.

012

0.47

90.

015

0.47

72.

378

Eco

logi

cal v

alu

e →

Soc

ial v

alu

e →

Loy

alty

0.05

61.

761*

0.06

51.

794*

0.02

50.

961

0.03

20.

970

0.09

1

Low

Att

itu

de T

owar

dH

igh

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itu

de T

owar

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nvi

ron

men

tal P

rote

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nE

nvi

ron

men

tal P

rote

ctio

n

Eco

logi

cal v

alu

e →

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nct

ion

al v

alu

e →

Loy

alty

0.02

60.

453

0.03

10.

454

0.22

83.

098*

*0.

276

3.46

0**

4.62

1**

Eco

logi

cal v

alu

e →

Eco

nom

ic v

alu

e →

Loy

alty

0.01

70.

920

0.02

00.

926

�0.

004

�0.

056

�0.

004

�0.

056

0.08

9E

colo

gica

l val

ue

→E

mot

ion

al v

alu

e →

Loy

alty

0.01

80.

651

0.02

10.

651

0.03

50.

591

0.04

20.

588

0.08

4E

colo

gica

l val

ue

→S

ocia

l val

ue

→L

oyal

ty0.

040

1.33

20.

047

0.03

50.

062

1.64

7*0.

076

1.69

7*0.

242

*p

�0.

1;**

p�

0.05

.

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KOLLER, FLOH, AND ZAUNERPsychology & Marketing DOI: 10.1002/mar

1170

of accounting for perceived ecological value. Investigating the multidimensionalperceived value concept from an ecological perspective has proven to be a prom-ising means of gaining a more comprehensive insight into the consumption ofautomobiles. In this regard, the value concept can also assist in exploring theacceptance of new technologies in an ecological context. Ecological value hashigh explanatory power for postconsumption behavior. Although it has no directeffect, ecological value is important for traditionally non-green product cate-gories as well as traditionally green ones. It indirectly impacts on loyalty via func-tional, emotional, and social value. The authors suppose that this influence willincrease still further in the coming years since they expect the general attitudetowards eco-friendly behavior to increase.

The analyses of the moderating effects of gender, newness of car, and gen-eral attitude toward environmental protection reveal interesting findings.Whereas gender influences the impact of economic and emotional value on loy-alty, no substantial gender differences were found regarding the impact of eco-logical value. The gender of the buyer does not affect the importance of theperceived ecological value of non-green products such as automobiles. Interest-ingly, the second moderator of the study (“newness of car”) reveals a signifi-cantly higher importance of ecological value for the functional aspect of customervalue, and therefore for consumer loyalty, for customers who own a used car.Finally, the general attitude toward environmental protection produces sub-stantial and significant effects. Ecological value affected all remaining valuedimensions more strongly in the group with a positive attitude toward envi-ronmental protection. These results indicate that the general attitude towardenvironmental protection produces different segments in the data. The impactof ecological value on the other four value dimensions is more pronounced forconsumers with a higher attitude toward protection of the natural environment(green consumers). For consumers with a low propensity toward environmentalprotection (non-green consumers), ecological value only significantly impacts theperception of economic value. Hence, for non-green consumers, only the ration-ale of “green to save money” is relevant. Nonetheless, the results emphasize that,for environmentally conscious individuals, not only cognitive aspects but espe-cially affective aspects are of major relevance. For this consumer segment, thescores in the four customer value dimensions are equally high. These resultsalso underline the general importance of the emotional facet of green consump-tion. If green consumption behavior is important to consumers, the presence ofecological value in cars will also lead to better feelings and mood states. For greenconsumers, “green to feel good” is the slogan that describes this phenomenonbest. In contrast, for individuals who are not environmentally conscious, ecolog-ical value is only vital regarding its impact on economical (i.e., cognitive) valueaspects. Hence, firms should target green consumers by highlighting the emotionalas well as altruistic benefits of the market offering, while non-green consumersmight be approached using arguments based on the price–performance ratio.

CONCLUSION AND IMPLICATIONS

The present study conceptualized the importance of an ecological perspectivewithin a multidimensional framework of perceived customer value, based on acomprehensive literature review. As ecological value had not been addressed in

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1171

previous studies, the review had to include two streams of literature: on the mul-tidimensional assessment of perceived customer value and on the psychologicalfacets of green consumption behavior. As a major theoretical implication, thestudy revealed substantial effects of ecological value on the value–loyalty link.A measurement scale for ecological value was derived based on qualitative andquantitative data. Moreover, moderating variables showed that, regarding the rel-evance of ecological value, the presence of heterogeneity in the data is likely. Theresults of this study have ample applied implications. Gender turned out to influ-ence the antecedents of customer loyalty but not the perception or importance ofecological value. However, the age of the automobile makes a difference. The eco-logical value of used cars has a greater effect on their functional value than is thecase with new cars. If a used car is able to elicit ecological value perceptions, itsowner also evaluates its functional value more positively. “Green to have qual-ity” summarizes this effect. The general attitude toward environmental protec-tion discriminates among segments of the sample best.The ecological value is moreimportant for green consumers. Given these results, ecological value could bethe trigger for value-based segmentation. Based on the findings of the presentstudy, companies in the automotive industry are advised to place more managerialefforts into value creation. Providing sufficient functional, economic, emotional,and social value is a core element of successful customer retention. Moreover,manufacturers of traditionally non-green products may consider the importanceof ecological value as well as the main four values. Facets of ecological valuederived from their products are likely to interplay with value perceptions regard-ing the four core dimensions. Being aware of the power of ecological value mayprovide a strategic advantage and allow repositioning. As ecological value turnedout to be associated with both cognitive (functional and economic) and affective(emotional and social) value components, communication strategies should makeuse of the interplay between those value dimensions. A mix of informational andemotional appeals appears most promising. Ecological elements are closely con-nected to humans’ sensory impressions (the smell of pollution vs. that of fresh airor the sound of heavy traffic vs. that of birds singing in a rural, traffic-free area,for example). Therefore, sensory appeals might be included more actively in com-munication activities and advertising.

“Green to be seen” also turned out to be an important issue. Ecological valueenhances the perception of social value. For many customers, it is importantthat their newly bought products are accepted in their social surroundings. If aproduct performs badly in terms of social acceptance, negative phenomena likedissonance or dissatisfaction are likely to arise. Given this fact, providing eco-logical value can help foster perceived social value. Sustainable management interms of corporate environmentalism—that is, the recognition and integrationof environmental concerns into a firm’s decision-making process—has becomea hot topic for many companies (Banerjee, 2002). On the product managementlevel, focusing on perceived ecological value may serve as a core element forfuture managerial decisions.

LIMITATIONS AND FUTURE RESEARCH

Aside from the new and substantive learning derived from this study, there aresome limitations indicating directions worthy of further research. Desired

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customer value is a predominant construct prior to a purchase decision. A longi-tudinal assessment of the development of ecological value and other dimensions ofperceived value, throughout the whole purchase decision and consumption process,would provide further promising insights. Furthermore, the level of perceivedimportance of single value dimensions might change over time. Conflicting valueattributes derived from consumption might lead to uncomfortable psychologicalstates. The interplay between changing value perceptions and possible conse-quences for loyalty and word-of-mouth recommendations should be empiricallyaddressed. As the perceived price/performance ratio of a car might change overthe usage period, the assumed effect of ecological value on economic value mayalso change over time. Since data in the present study are cross-sectional, inves-tigating potentially changing effects would be a subject for future research.

Another quality of consumption decisions in the automotive industry is thepresence of a consumption system. In the case of automobiles, the consumptionsystem during the usage phase consists of the product (the car) and product-related services (such as having the tires changed or the car inspected andrepaired). Hence, various sources of critical incidents can have an impact onthe customer’s aggregated value perceptions. The present study focuses pre-dominantly on value dynamics in the product subsystem. The next step wouldbe to investigate the role of ecological value, its interplay with other value dimen-sions, and its impact on postpurchase phenomena for both subsystems simul-taneously. Doing so would provide an opportunity to account for potential spillovereffects from either subsystem to the other.

Regarding the development of a sound measurement scale for ecological value,the present study can only provide an initial insight. The psychometric proper-ties of the scale need to be verified using a different data set. Finally, the pres-ent study expands the knowledge of selected moderating factors on the linkbetween value and loyalty intentions. Future research should also account formoderators such as personal traits or self-relation phenomena. As ecologicalvalue turned out to be closely related to social value, the degree of individual per-suasibility in consumption situations (Bearden, Netemeyer, & Teel, 1989) mightalso play a crucial role in individual value perceptions. Hence, the level of self-confidence (Bearden, Hardesty, & Rose, 2001) and self-concept clarity (Campbellet al., 1996) are likely to moderate the interplay between ecological value and the social and emotional value dimensions. In Western societies, pro-environmental behavior is generally viewed as pro-social. As this may not be thecase for other cultures (Griskevicius, Tybur, & Van den Bergh, 2010), the pres-ent study should be replicated in a cross-cultural context.

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The authors wish to thank Martina Gessl and Frederik Markel for their assistance in datacollection.

Correspondence regarding this article should be sent to: Dr. Monika Koller, Wirtschaft-suniversität Vienna, Augasse 2–6, 1090 Vienna, Austria ([email protected]).

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APPENDIX

List of Items—Study 2

Car Study 2

Construct Measure FL AVE CA CR

Ecological value 0.66 0.85 0.85My car . . .. . . is environmentally friendly. 0.84. . . pollutes the environment only marginally. 0.86. . . is more environmentally friendly than other cars. 0.73

Functional value 0.50 0.75 0.75. . . is very reliable. 0.69. . . provides good performance. 0.76. . . has an acceptable standard of quality. 0.67

Economic value 0.59 0.78 0.81. . . offers value for money. 0.77. . . is fairly priced. 0.86Compared to the other cars, my car is economical. 0.66

Emotional value 0.54 0.78 0.78. . . makes me want to use it more often. 0.71. . . makes me feel good. 0.72To drive my car gives me pleasure. 0.78

Social value 0.61 0.79 0.82Colleagues and friends envy me for my car. 0.87. . . improves the way I am perceived by others. 0.89. . . helps me to feel distinct from other people. 0.54

Loyalty intentions 0.54 0.82 0.82In the future, I will buy a car from this brand again. 0.76I consider the car my first choice. 0.76I recommend my car. 0.78I encourage friends and relatives to buy a car from 0.64the same brand.

Note: FL � Factor loading, AVE � Average variance extracted, CA � Cronbach’s alpha,CR � Composite reliability.