An Empirical Study On The Relationship Among Customer Value、customer Satisfaction And Customer Loyalty

Customer perceived value, customer satisfaction and customer loyalty, as important measure of customer behavior, have been focus in marketing research. However, at the present time most research focused on the consumer market and services market. For the industrial market, there is less research on the affecting factors of customer loyalty, especially lack of empirical research.This paper, based on the industrial coating industry, studied the issues related to customer loyalty systematically. At the beginning, this paper analyzed the current situation and business problems, and proposed the necessity to improve customer loyalty. This paper redefined the concept of customer and customer loyalty through the literature study, extracted four factors, customer value, customer satisfaction, customer trust and switching cost. This paper evaluated the customer loyalty from the customer’s attitude and behavior respectively and therefore built customer loyalty model between customer loyalty and its factors.Through the empirical study of industrial coatings business, this paper verified the four driving factors by factor analysis, regression analysis and other processing. And the relationship between customer loyalty and its driving factors was verified. Customer satisfaction and switching cost have direct influence on both attitude and behavior loyalty, and customer value on attitude loyalty, not behavior loyalty. Customer trust has no influence on attitude or behavior loyalty. At the same time, customer value and customer trust have direct influence on customer satisfaction. As for customer loyalty dimensions, attitude loyalty has direct influence on behavior loyalty.At last, this paper made conclusions and recommendations based on the industrial coating industry. Based on the situation of industrial coatings industry, the suppliers should identify the true customer loyalty, establish value‐based concept, launch brand strategy and build customer database. Understand the relationship among customer value, customer satisfaction, customer trust and switching cost and customer loyalty, and thus develop appropriate policy to open up new markets, to consolidate existing markets and to obtain more competitive advantage.