Version 1
: Received: 19 July 2024 / Approved: 20 July 2024 / Online: 22 July 2024 (05:31:05 CEST)
How to cite:
Park, H.-Y.; Park, C.-K. New Trends in Customer Satisfaction: Evidence from the Value Relevance of Customer Satisfaction during COVID-19. Preprints2024, 2024071638. https://doi.org/10.20944/preprints202407.1638.v1
Park, H.-Y.; Park, C.-K. New Trends in Customer Satisfaction: Evidence from the Value Relevance of Customer Satisfaction during COVID-19. Preprints 2024, 2024071638. https://doi.org/10.20944/preprints202407.1638.v1
Park, H.-Y.; Park, C.-K. New Trends in Customer Satisfaction: Evidence from the Value Relevance of Customer Satisfaction during COVID-19. Preprints2024, 2024071638. https://doi.org/10.20944/preprints202407.1638.v1
APA Style
Park, H. Y., & Park, C. K. (2024). New Trends in Customer Satisfaction: Evidence from the Value Relevance of Customer Satisfaction during COVID-19. Preprints. https://doi.org/10.20944/preprints202407.1638.v1
Chicago/Turabian Style
Park, H. and Cheong-Kyu Park. 2024 "New Trends in Customer Satisfaction: Evidence from the Value Relevance of Customer Satisfaction during COVID-19" Preprints. https://doi.org/10.20944/preprints202407.1638.v1
Abstract
This study examines the change in customer satisfaction and the value relevance of customer satisfaction during COVID-19. The COVID-19 pandemic is an unprecedented experience and has caused difficulties for all areas of businesses. Customer relations are one of the biggest paradigm shifts of this period. Companies have placed great importance on customer relations, and customer relations are a critical factor in corporate sustainability. It is very important for firms to retain their customers in the market, create a potential demand, and, thus, increase the firm value. However, prior studies have provided mixed results on whether companies financially benefit from customer relations. Employing the value relevance model, we find that the customer satisfaction score has increased during the pandemic but that the value relevance of customer satisfaction has declined during the pandemic. Together, we interpret the results as indicating new customer satisfaction trends, especially reduction trends. The results are robust even after controlling endogeneity and outliers. This study has several implications for practitioners and academia regarding the new trends in the value relevance of customer satisfaction.
Keywords
customer satisfaction; value relevance; marketing strategy; COVID-19
Subject
Business, Economics and Management, Marketing
Copyright:
This is an open access article distributed under the Creative Commons Attribution License which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
