Research On The Influence Of Consumer Expertise On Consumer Loyalty Of Fund Investors

With the rapid development of social economy and information technology as well as the rise of industrial service industry,the boundary of the division of labor is becoming more and more vague,the product service information diffusion channel is more and more important.Today's enterprises pay more and more attention to the optimization and innovation of products and services.Especially in the high complexity and specialization of the financial industry,product services iterative speed,the functional trend of diversification,requiring customers should have sufficient professional knowledge and skills to better perceive the value of products and services.The theory of service-dominant logic focuses on integrating consumer resources into the process of value creation,thus enhancing customer satisfaction and loyalty.The customer expertise has been regarded as the most important consumer resource in academia.In China,the research on consumer resources related to service-dominant logic theory starts late,the empirical research on customer expertise is not enough,the research on customer expertise and loyalty mostly stays in the direct relation research,and lacks the exploration of internal mechanism.Based on the service-dominant logic theory and the previous literature achievements,this paper integrates customer expertise,perceived value,customer loyalty and perceived risk variables,uses deductive reasoning and hypothesis testing methods,and puts forward six research hypotheses,through questionnaires and surveys to investors who have purchased fund products in China,and can recognize their purchase behavior as investment behavior clearly.446 sample data were collected to verify the research hypotheses,and the following three questions were discussed:(1)The influence of customer expertise on customer loyalty,(2)The internal mechanism of customer expertise and customer loyalty,and(3)the moderating effect of perceived risk.The results show that: firstly,the customer expertise has positive influence on perceived value and customer loyalty,in which the explanatory ability of the fund investor is the greatest contribution to perceived value and customer loyalty;Secondly,perceived value plays a complete intermediary role between customer expertise and customer loyalty;third,Perceived risk negatively moderates the positive correlation between customer expertise and perceived value.The contribution of this thesis is to expand the application of the service-dominant logic in the decision making process of the fund investors ' purchase.To study the value and loyalty creation from the customer's point of view,enrich the research of the consumer resource field,and explore quantitatively the influence of customer expertise on loyalty by empirical research compared with the qualitative exploratory research in the past,which enrich the research content.On the realistic level,combined with the conclusion of this paper,the author puts forward some practical suggestions for fund management companies: we should pay attention to the implementation of customer education activities,build customer database,provide differentiated service,optimize service flow and reduce perceived risk of fund investors.