IDEAS home Printed from https://ideas.repec.org/a/eee/jbrese/v122y2021icp608-620.html
   My bibliography  Save this article

Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention

Author

Listed:
  • Dash, Ganesh
  • Kiefer, Kip
  • Paul, Justin

Abstract

This study explores the evolution of Marketing 4.0 and empirically examines its impact on customer satisfaction and purchase intention. Marketing 4.0, an upgrade to the previous Marketing 3.0 model, aims to include the influence of brand interaction in the digital age. This study provides an empirical test of this newer model by analyzing all four of its components with customer satisfaction and purchase intention. Using structural equation modeling to analyze 508 prospective real estate first-time homebuyers, this study evaluates the role of the components of Marketing 4.0 in maximizing customer satisfaction and influencing purchase intentions. Findings indicate that brand identity and brand image are significant factors in determining customer satisfaction and purchase intention. Furthermore, the impact of customer satisfaction on purchase intention is highly significant. Unexpectedly, and counter-intuitively, there was not a significant relationship between brand integrity or brand interaction on customer satisfaction and purchase intention. Considering the study’s participants (Gen-Z/Millennial first-time homebuyers) and the international context of the study (the northern Indian real estate market), this study provides important insights into burgeoning international industries and their prime future target market. Furthermore, this study indicates that, a Marketing 4.0 approach that focuses on brand identity and brand image may influence customer satisfaction and, subsequently, increase customers’ purchase intentions.

Suggested Citation

  • Dash, Ganesh & Kiefer, Kip & Paul, Justin, 2021. "Marketing-to-Millennials: Marketing 4.0, customer satisfaction and purchase intention," Journal of Business Research, Elsevier, vol. 122(C), pages 608-620.
    • Handle: RePEc:eee:jbrese:v:122:y:2021:i:c:p:608-620
    DOI: 10.1016/j.jbusres.2020.10.016
    as

    Download full text from publisher

    File URL: http://www.sciencedirect.com/science/article/pii/S0148296320306688
    Download Restriction: Full text for ScienceDirect subscribers only
    File URL: https://libkey.io/10.1016/j.jbusres.2020.10.016?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Moon, Junyean & Chadee, Doren & Tikoo, Surinder, 2008. "Culture, product type, and price influences on consumer purchase intention to buy personalized products online," Journal of Business Research, Elsevier, vol. 61(1), pages 31-39, January.
    2. L. Zarantonello & B.H. Schmitt, 2010. "Using the Brand Experience Scale to Profile Consumers and Predict Consumer Behavior," Post-Print hal-00799093, HAL.
    3. Fennis, Bob M. & Pruyn, Ad Th. H., 2007. "You are what you wear: Brand personality influences on consumer impression formation," Journal of Business Research, Elsevier, vol. 60(6), pages 634-639, June.
    4. Paul, Justin & Rosenbaum, Mark, 2020. "Retailing and consumer services at a tipping point: New conceptual frameworks and theoretical models," Journal of Retailing and Consumer Services, Elsevier, vol. 54(C).
    5. Aghekyan-Simonian, Mariné & Forsythe, Sandra & Suk Kwon, Wi & Chattaraman, Veena, 2012. "The role of product brand image and online store image on perceived risks and online purchase intentions for apparel," Journal of Retailing and Consumer Services, Elsevier, vol. 19(3), pages 325-331.
    6. Gensler, Sonja & Völckner, Franziska & Liu-Thompkins, Yuping & Wiertz, Caroline, 2013. "Managing Brands in the Social Media Environment," Journal of Interactive Marketing, Elsevier, vol. 27(4), pages 242-256.
    7. Tiago, Maria Teresa Pinheiro Melo Borges & Veríssimo, José Manuel Cristóvão, 2014. "Digital marketing and social media: Why bother?," Business Horizons, Elsevier, vol. 57(6), pages 703-708.
    8. Labrecque, Lauren I. & vor dem Esche, Jonas & Mathwick, Charla & Novak, Thomas P. & Hofacker, Charles F., 2013. "Consumer Power: Evolution in the Digital Age," Journal of Interactive Marketing, Elsevier, vol. 27(4), pages 257-269.
    9. Jan-Benedict E M Steenkamp & Rajeev Batra & Dana L Alden, 2003. "How perceived brand globalness creates brand value," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 34(1), pages 53-65, January.
    10. Kumar, Ajay & Paul, Justin, 2018. "Mass prestige value and competition between American versus Asian laptop brands in an emerging market—Theory and evidence," International Business Review, Elsevier, vol. 27(5), pages 969-981.
    11. Shao, Chris Y. & Baker, Julie A. & Wagner, Judy, 2004. "The effects of appropriateness of service contact personnel dress on customer expectations of service quality and purchase intention: The moderating influences of involvement and gender," Journal of Business Research, Elsevier, vol. 57(10), pages 1164-1176, October.
    12. Parent, Michael & Plangger, Kirk & Bal, Anjali, 2011. "The new WTP: Willingness to participate," Business Horizons, Elsevier, vol. 54(3), pages 219-229, May.
    13. Mei Teh Goi & Chai Lee Goi & David Wong, 2014. "Constructing a brand identity scale for higher education institutions," Journal of Marketing for Higher Education, Taylor & Francis Journals, vol. 24(1), pages 59-74, June.
    14. Napoli, Julie & Dickinson, Sonia J. & Beverland, Michael B. & Farrelly, Francis, 2014. "Measuring consumer-based brand authenticity," Journal of Business Research, Elsevier, vol. 67(6), pages 1090-1098.
    15. Cornwell, T. Bettina & Coote, Leonard V., 2005. "Corporate sponsorship of a cause: the role of identification in purchase intent," Journal of Business Research, Elsevier, vol. 58(3), pages 268-276, March.
    16. D. Harrison McKnight & Vivek Choudhury & Charles Kacmar, 2002. "Developing and Validating Trust Measures for e-Commerce: An Integrative Typology," Information Systems Research, INFORMS, vol. 13(3), pages 334-359, September.
    17. Barbara Carroll & Aaron Ahuvia, 2006. "Some antecedents and outcomes of brand love," Marketing Letters, Springer, vol. 17(2), pages 79-89, April.
    18. Jonah Berger & Chip Heath, 2007. "Where Consumers Diverge from Others: Identity Signaling and Product Domains," Journal of Consumer Research, Journal of Consumer Research Inc., vol. 34(2), pages 121-134, June.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tony Cooper & Constantino Stavros & Angela R. Dobele, 2019. "The levers of engagement: an exploration of governance in an online brand community," Journal of Brand Management, Palgrave Macmillan, vol. 26(3), pages 240-254, May.
    2. Zeynep Gürhan-Canli & Ceren Hayran & Gülen Sarial-Abi, 2016. "Customer-based brand equity in a technologically fast-paced, connected, and constrained environment," AMS Review, Springer;Academy of Marketing Science, vol. 6(1), pages 23-32, June.
    3. Dash, Ganesh & Paul, Justin, 2021. "CB-SEM vs PLS-SEM methods for research in social sciences and technology forecasting," Technological Forecasting and Social Change, Elsevier, vol. 173(C).
    4. Gwarlann Kerviler & Nico Heuvinck & Elodie Gentina, 2022. "“Make an Effort and Show Me the Love!” Effects of Indexical and Iconic Authenticity on Perceived Brand Ethicality," Journal of Business Ethics, Springer, vol. 179(1), pages 89-110, August.
    5. Rydén, Pernille & Ringberg, Torsten & Wilke, Ricky, 2015. "How Managers' Shared Mental Models of Business–Customer Interactions Create Different Sensemaking of Social Media," Journal of Interactive Marketing, Elsevier, vol. 31(C), pages 1-16.
    6. He, Yi & You, Ya & Chen, Qimei, 2020. "Our conditional love for the underdog: The effect of brand positioning and the lay theory of achievement on WOM," Journal of Business Research, Elsevier, vol. 118(C), pages 210-222.
    7. Khan, Kamran & Hameed, Irfan, 2017. "The mediation of customer satisfaction and moderation of Price: Evidence from the generation Y users of cell phones," MPRA Paper 91773, University Library of Munich, Germany.
    8. Saeed M.Z.A. Tarabieh, 2017. "The Synergistic Impact of Social Media and Traditional Media on Purchase Decisions: The Mediating Role of Brand Loyalty," International Review of Management and Marketing, Econjournals, vol. 7(5), pages 51-62.
    9. Paul, Justin, 2019. "Masstige model and measure for brand management," European Management Journal, Elsevier, vol. 37(3), pages 299-312.
    10. Rosenthal, Benjamin & Brito, Eliane P.Z., 2017. "How virtual brand community traces may increase fan engagement in brand pages," Business Horizons, Elsevier, vol. 60(3), pages 375-384.
    11. Ramkumar, Bharath & Ellie Jin, Byoungho, 2019. "Examining pre-purchase intention and post-purchase consequences of international online outshopping (IOO): The moderating effect of E-tailer's country image," Journal of Retailing and Consumer Services, Elsevier, vol. 49(C), pages 186-197.
    12. Hwang, Jinsoo & Han, Heesup, 2014. "Examining strategies for maximizing and utilizing brand prestige in the luxury cruise industry," Tourism Management, Elsevier, vol. 40(C), pages 244-259.
    13. He, Hongwei & Li, Yan & Harris, Lloyd, 2012. "Social identity perspective on brand loyalty," Journal of Business Research, Elsevier, vol. 65(5), pages 648-657.
    14. Stokburger-Sauer, Nicola & Ratneshwar, S. & Sen, Sankar, 2012. "Drivers of consumer–brand identification," International Journal of Research in Marketing, Elsevier, vol. 29(4), pages 406-418.
    15. Robertson, Jeandri & Botha, Elsamari & Ferreira, Caitlin & Pitt, Leyland, 2022. "How deep is your love? The brand love-loyalty matrix in consumer-brand relationships," Journal of Business Research, Elsevier, vol. 149(C), pages 651-662.
    16. Thomas Friedrich & Sebastian Schlauderer & Sven Overhage, 2021. "Some things are just better rich: how social commerce feature richness affects consumers’ buying intention via social factors," Electronic Markets, Springer;IIM University of St. Gallen, vol. 31(1), pages 159-180, March.
    17. Kumar, Vikas & Kaushal, Vikrant, 2021. "Perceived brand authenticity and social exclusion as drivers of psychological brand ownership," Journal of Retailing and Consumer Services, Elsevier, vol. 61(C).
    18. Mondal, Jalaluddin & Chakrabarti, Somnath, 2021. "Insights and anatomy of brand experience in app-based retailing (eRBX): Critical play of physical evidence and enjoyment," Journal of Retailing and Consumer Services, Elsevier, vol. 60(C).
    19. Ramaswamy, Venkat & Ozcan, Kerimcan, 2016. "Brand value co-creation in a digitalized world: An integrative framework and research implications," International Journal of Research in Marketing, Elsevier, vol. 33(1), pages 93-106.
    20. Dawei Liu & Xiaohong Guo, 2017. "Exploring gender differences in acceptance of mobile computing devices among college students," Information Systems and e-Business Management, Springer, vol. 15(1), pages 197-223, February.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eee:jbrese:v:122:y:2021:i:c:p:608-620. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Catherine Liu (email available below). General contact details of provider: http://www.elsevier.com/locate/jbusres .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.