CUSTOMER PERCEIVED VALUE AND CUSTOMER RELATIONSHIP MARKETING IN B2B AGRIBUSINESSES: A CASE OF AGROCHEMICAL MARKET IN SRI LANKA
Abstract
This research examined the impact of customer’ perceived value on CRM in Business to Business (B2B) agrochemical agribusinesses in Sri Lanka. Customer perceived value was measured by economical value, emotional value and social value based on standard 36 attributes. A total of 110 respondents including distributors and direct dealers engaged in agrochemical marketing covering all island were interviewed. Results were obtained by both descriptive and inferential statistics. Two mediating variables; customer satisfaction and customer loyalty were used to find the impact of customer perceived value on relationship marketing attributes. Findings revealed that dealers perceived slightly higher economical values than emotional values and comparatively low social values. Weaker but positive correlations were found between dealer’s perceived emotional, economic and social values with their satisfaction and customer loyalty. Customer satisfaction and customer loyalty had mediating effects to the relationship of customer perceived value with CRM attributes hence with relationship marketing. The findings provide utilizable model for the agro chemical manufacturing companies to enhance dealer’s perceived value that contribute to higher dealer satisfaction, loyalty hence re-purchase behaviour and long term customer retention.
Keywords
customers’ perceived value; customer relationship marketing; agrochemical industry; B2B markets; customer retention; re-purchase behaviour
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Department of Agribusiness Management, Faculty of Agricultural Sciences, Sabaragamuwa University of Sri Lanka, Belihul Oya, 70140 Sri Lanka
https://orcid.org/0000-0002-2130-4009
Department of Agribusiness Management, Faculty of Agricultural Sciences, Sabaragamuwa University of Sri Lanka, Belihul Oya, 70140 Sri Lanka
https://orcid.org/0000-0002-2130-4009
Department of Agribusiness Management, Faculty of Agricultural Sciences, Sabaragamuwa University of Sri Lanka, Belihul Oya, 70140 Sri Lanka
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