The impact of values on customer loyalty after experiencing compensation process a study of car insurance industry in vietnam

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The impact of values on customer loyalty after experiencing compensation process   a study of car insurance industry in vietnam

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UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen Quang Huy THE IMPACT OF VALUES ON CUSTOMER LOYALTY AFTER EXPERIENCING COMPENSATION PROCESS –A STUDY OF CAR INSURANCE INDUSTRY IN VIETNAM MASTER OF BUSINESS (Honours) Ho Chi Minh City – Year 2014 UNIVERSITY OF ECONOMICS HO CHI MINH CITY International School of Business Nguyen QuangHuy THE IMPACT OF VALUES ON CUSTOMER LOYALTY AFTER EXPERIENCING COMPENSATION PROCESS –A STUDY OF CAR INSURANCE INDUSTRY IN VIETNAM ID: 22110026 MASTER OF BUSINESS (Honours) SUPERVISOR: DR PHAM NGOC THUY Ho Chi Minh City – Year 2014 ACKNOWLEGDEMENT I would like to express my sincere thankfulness to my research advisor, Dr Pham Ngoc Thuy, who made me believe in myself and gave me the possibility to complete this thesis Her guidance helped me in all the time of research and writing this thesis I am sure that this thesis would not have been possible without her support I also would like to thank all ISB professors, lecturersand tutors for their enthusiasm in providing invaluable knowledge, interesting lectures and additional support I would like to express my gratitude to all ISB staffs that supported necessary materials and helped summit my papers Especially, I would like to give my special thanks my wife for supporting me during my studying at ISB The last, I would like to say thanks to all of my colleagues and dear friends for supporting me during my studying Nguyen QuangHuy Ho Chi Minh City, February 22, 2014 i ABSTRACT Customer attitude after buying and customer loyalty are very important concepts that companies must understand if they want to remain competitive and grow In today’s competitive environment high quality customer serviceis the key for a sustainable competitive advantage Customer satisfaction forms the foundation of any successful business as it leads to repeat purchase, brand loyalty, and positive word of mouth This study is to identify the determinant factorsof customer loyalty after experiencing compensation process of car insurance Though there are many factors affecting customer’s renewal of automobile insurance, this study goes to explore deepconsideration four factors such as functional value, economic value, emotional value and social value employing quantitative and qualitative methods Data was collected from 03 non-insurance companies in Ho Chi Minh City using a questionnaire, then analyzed with SPSS software in aspects ofCronbach Alpha coefficients,explore factor analysis (EFA) and regression analysis Testresults have showed that functional value and emotional values have the strongestimpact on customer’s insurance purchasing continuance The study cannot avoid some limitations, such as scope of research is narrow only in Hochiminh city; sample is not large enough The study only considered in the perspective of value In fact there are many other factors that affect customer loyalty Key Words: functional value; economic value; emotional value; social value; andcustomer loyalty ii TABLE OF CONTENTS Acknowlegdement i Abstract ii Table of contents iii List of Figure vi List of Table vii CHAPTER 1: INTRODUCTION 1.1 RESEARCH BACKGROUND 1.2 PROBLEM STATEMENT AND RATIONALE 1.3 RESEARCH QUESTIONS AND OBJECTIVES 1.4 RESEARCH SCOPE 1.5 SIGNIFICANCE OF STUDY 1.6 THESIS STRUCTURE CHAPTER 2: LITERATURE REVIEW SECTION A: OVERVIEW OF COMPENSATION PROCESS OF CAR INSURANCE 2.1 TWO WAY INSURANCE - CAR PHYSICAL DAMAGE INSURANCE 2.2 COMPENSATION PROCESS OF CAR INSURANCE 2.2.1 Car accident compensation claims process ….6 2.2.2 Responsibilities of the Automobile owner, driver in compensation process 2.3 ACCIDENT SURVEY SECTION B: THEORIES AND RESEARCH MODLE 2.4 KEY CONCEPTS 2.4.1 Functional value 2.4.2 Economic value 2.4.3 Emotional value 2.4.4 Social value iii 2.4.5 Customer loyalty 2.5 RESEARCH MODEL AND HYPOTHESES RELATIONSHIP 2.5.1 Functional Value and Customer Loyalty relationship 2.5.2 Economic Value and Customer Loyalty relationship 10 2.5.3 Emotional Value and Customer Loyalty relationship 10 2.5.4 Social Value and Customer Loyalty relationship 10 2.5.5 Moderating variables 11 CHAPTER 3: RESEARCH METHODOLOGY 13 3.1 QUALITATIVE RESEARCH 13 3.2 QUANTITATIVE RESEARCH 14 3.2.1 Measurement scales …14 3.2.2 Adjusting measurement scales 19 3.3 QUESTIONNAIRE DESIGN 19 3.4 METHOD OF DATA ANALYSIS 19 3.5 HYPOTHESIS TESTING 20 3.5.1 Descriptive statistics 20 3.5.2 Reliability test of measurement scale 20 3.5.3 Validity test of the measurement scale by the exploratory factor analysis (EFA) 21 3.5.4 Multiple linear regression 22 3.6 SUMMARY 24 CHAPTER 4: DATA ANALYSIS 25 4.1 DESCRIPTIVE DATA ANALYSIS 25 4.2 SURVEY PROCESS 25 4.3 MEASUREMENT SCALE ASSESSMENT 26 4.3.1 Cronbach’s Alpha Reliability Analysis 26 4.3.2 Exploratory Factor Analysis 28 4.3.3 Discussion on the customer loyalty 31 4.3.4 Testing the research model and hypotheses 32 iv 4.3.5 Testing the research model 33 4.3.6 Hypothesis testing 34 4.4 DISCUSION 35 4.5 SUMMARY 36 CHAPTER 5: CONCLUSIONS 37 5.1 OVERVIEW 37 5.2 KEY FINDINGS AND IMPLICATIONS 37 5.2.1 KEY FINDINGS 37 5.2.2 MANAGERIAL IMPLICATIONS 37 5.3 LIMITATIONS 38 REFERENCES 39 APPENDICES 42 APPENDIX I: Questionnaire 42 APPENDIX II: Results of reliability analysis (cronbach’s alpha) 47 APPENDIX III: Results of factor analysis 50 APPENDIX IV: Results of multiple linear regression analysis for whole sample 52 APPENDIX V: Results of multiple linear regression analysis for own 54 APPENDIX VI: Frequencies 57 APPENDIX VII: Descriptive analysis 58 v LIST OF FIGURE Figure 2.1: Compensation process of car insurance Figure 2.2: The research model 11 Figure 3.1: Research design and how data collection method fit in 13 Figure4.1: The modified research model 31 vi LIST OF TABLE Table 3.1: Measurement scales for current research 15 Table 3.2: The interpretation for Cronbach’s Alpha 21 Table 3.3: The interpretation of KMO 22 Table 3.4: The required factor loading based on the sample size 22 Table 4.1: Reliability analysis results 26 Table 4.2: EFA analysis results for the independent variables 28 Table 4.3: Total Variance Explained 30 Table 4.4: Recode variable for the multiple linear regression 32 Table 4.5: Results of multiple linear regression analysis 33 Table 4.6 Level of values between owner and driver groups 33 vii CHAPTER 1: INTRODUCTION This chapter introduces the background, the rationales and the objectives of the research Besides, the chapter also includes the scope of study, the implications and the structure of the research 1.1 RESEARCH BACKGROUND Market Non-life insurance is growing, in Vietnam, the non-life insurance has begun to take shape in 1965 From 1965 to 1994 was a period of non-life insurance activities exclusive entirely with a State insurance business only Therefore, its impact on the economyis limited.The turning point has important implications for the development of Vietnam's insurance sector is marked by 100/ND-CP decree, issued December 18, 1993 of the insurance business Vietnam now has 29 non-life insurance company both domestic and foreign licensing activities Carinsurance is also growing strongly and the business is looking to bring big revenue source for the non-life insurance companies, with revenue leader in all other insurance product, Minh Huyen (2013) stated that sales in 2012 reached 22.7 trillion To be able to compete and grow in the market full rigors of the non-life insurance company to pay special attention to important factor and decide factorthat is compensation service The relevance of perceived functional, economic, emotional, and social value associated with the usage of car insurance is vital information for non-life insurance companies because perceived value has high explanatory power for the loyalty of insured 1.2 PROBLEM STATEMENT AND RATIONALE In Vietnam, many people still have several questions before buyinginsurance for their car The questions like: When I getan accident does the insurance company attend to support me? How long can I get back money from an insurance claim? Doesinsurance company comply with the commitment as they promised? Many questions and debate is still ongoing customers and the press raised, for example,Binh, N D (2013) wrote that a car owner in Quang Tri has asked THE QUESTIONNAIRE IN VIETNAMESE PHẦN I: THÔNG TIN TỔNG QUÁT Ông/Bà tham gia bảo hiểm xe ô tô Công ty bảo hiểm nào?  PJICO LIBERTY BẢO MINH  Khác…………… Ông/Bà yêu cầu Công ty bảo hiểm bồi thường lần chưa?  Chưa lần  Đã (trả lời tiếp câu phần II phần III) PHẦN II: QUY TRÌNH BỒI THƯỜNG Công ty “X” câu để Công ty bảo hiểm mà Xin cho biết mức độ đồng ý Ông/Bà Công ty “X” câu cách khoanh tròn vào câu trả lời tương ứng, với: Ô số 1: Hoàn toàn không đồng ý, hoặc: Ô số 5: Hoàn toàn đồng ý Còn với mức độ khác khoanh tròn vào ô số Hoàntoànkhôngđồng ý Khôngđồng ý Trunglập Đồng ý Hoàntoànđồng ý Ông/Bà tham gia nêu Giátrịchứcnăng Côngtybảohiểm X đãthựchiệnbồithườngnhưđã cam kếttronghợpđồng BH QuytrìnhbồithườngcủaCôngty X đượcthựchiệnchặtchẽ Quytrìnhbồithườngcủacty X đúngtheoquyđịnhcủanhànước Quytrìnhbồithườngcủacôngty X chuyênnghiệp 5 Thờigiangiảiquyếtbồithườngcủacty X nhanhchóng/đúngthờigian cam kết Côngty X Giải vụbồithường cách quán.(theomộtquytrìnhnhưnhau) Nhânviênbồithườnglàmviệcchuyênnghiệp, tưvấnchínhxácvàluôncómặtkịpthờikhikháchhànggặp tai nạn 44 5 Quytrìnhbồithườngcủacôngty X đơngiản, thuậntiện Giátrịkinhtế Phíbảohiểmcủacôngty X hợp lý 10 Giátrịbồithườngcôngty X chi trảxứngđángvớiphíbảohiểm 11 Muabảohiểmmanglạilợiíchkinhtế 12 Côngty X cógiátrịbồithườngtốthơnvàphíbảohiểmtốthơn so vớicácCtybảohiểmkhác Giátrịcảmxúc 13 Bạnhàilòngvớisốtiềnbồithườngnhậnđược 14 SốtiềnbồithườngcủaCty X làmchotôimuốntáitục BH nămtiếptheo 15 BảohiểmcủaCty X làmtôithấyyêntâmhơnkhiđiềukhiểnxe 16 Bạnhàilòngvớitháiđộphụcvụcủanhânviênbồithườngcủacôngty X 5 5 Ghirõ ý kiếnkhácnếucó: ……………………………………………………………… ……………………………………………………………… ………………………………… Giátrịxãhội 17 Khimuabảohiểmxelàbạngópphầngiảmgánhnặngkinhtếchogia đìnhvàxãhộikhixegặp tai nạn 18 Muabảohiểmxe ô tôlàcó ý thứctráchnhiệmtrongviệcbảovệtínhmạngvàtàisảncủamìnhvàn hữngngườikhác 19 Muabảohiểmcóthểmởrộngmối quan hệ xã hộicủatôi Lòngtrungthànhcủakháchhàng 20 Trong tương lai sẽtiếptục mua bảo tạiCty X 21 Côngty X lựa chọn đầu tiêncủa tôikhimuabảohiểmxe ô tô 22 Tôichỉmuốnmuabảohiểmxe ô tôtừCôngty X 45 5 23 Tôi khuyến khích bạn bè người thân mua bảo hiểm từ Cty X PHẦN III: THÔNG TIN KHÁC Mộtsốthôngtin nhằmphụcvụchoviệcphânloạivàtrìnhbàycácdữliệuthốngkê: Ông/bàlà:ChủxeLáixe XinchânthànhcámơnsựhợptáccủaÔng/Bà! APPENDIX II: RESULTS OF RELIABILITY ANALYSIS (CRONBACH’S ANPHA) I FUNCTIONAL VALUE 46 Reliability Statistics Cronbach's Alpha Based on Cronbach's Standardize N of Alpha d Items Items 876 883 Item-Total Statistics function01 function02 function03 function04 function05 function06 function07 function08 II Scale Mean if Item Deleted 27.9565 28.0652 28.0942 28.1667 28.3188 28.3116 28.5217 28.4420 Scale Variance if Item Deleted 20.991 20.222 20.553 19.060 18.190 19.588 19.098 19.139 Corrected Item-Total Correlation 631 675 633 667 681 650 588 636 ECONOMIC VALUE Reliability Statistics Cronbach's Alpha Based on Cronbach's Standardize N of Alpha d Items Items 649 648 Item-Total Statistics 47 Squared Multiple Correlation 684 757 698 611 721 457 422 537 Cronbach's Alpha if Item Deleted 864 858 862 857 857 859 868 861 econom09 econom10 econom11 econom12 III Scale Mean if Item Deleted 11.5435 11.4058 11.2029 11.8913 Item-Total Statistics Scale Cronbach's Variance if Corrected Squared Alpha if Item Item-Total Multiple Item Deleted Correlation Correlation Deleted 3.505 467 247 554 3.425 594 356 461 4.280 342 165 637 4.185 331 143 646 EMOTIONAL VALUE Reliability Statistics Cronbach's Alpha Based on Cronbach's Standardize N of Alpha d Items Items 768 775 emotion13 emotion14 emotion15 emotion16 IV Scale Mean if Item Deleted 11.9710 12.1667 11.7971 12.1304 Item-Total Statistics Scale Variance if Corrected Item Item-Total Deleted Correlation 3.240 667 3.103 640 3.462 494 3.092 502 SOCIAL VALUE Reliability Statistics Cronbach's Alpha Based on Cronbach's Standardize N of Alpha d Items Items 824 837 48 Squared Multiple Correlation 466 437 275 269 Cronbach's Alpha if Item Deleted 667 674 750 757 society17 society18 society19 V Scale Mean if Item Deleted 8.9348 8.6957 9.0652 Item-Total Statistics Scale Variance if Corrected Item Item-Total Deleted Correlation 1.623 688 1.936 715 1.390 684 Squared Multiple Correlation 484 513 472 Cronbach's Alpha if Item Deleted 748 752 774 Squared Multiple Correlation 708 780 759 658 Cronbach's Alpha if Item Deleted 918 901 903 925 CUSTOMER LOYALTY Reliability Statistics Cronbach's Alpha Based on Cronbach's Standardize N of Alpha d Items Items 932 933 loyalty20 loyalty21 loyalty22 loyalty23 Scale Mean if Item Deleted 10.8261 10.9710 11.1522 11.0942 Item-Total Statistics Scale Variance if Corrected Item Item-Total Deleted Correlation 4.218 822 4.072 877 3.794 869 4.071 801 49 APPENDIX III: RESULTS OF FACTOR ANALYSIS KMO and Bartlett's Test Kaiser-Meyer-Olkin Measure of Sampling Adequacy Bartlett's Test of Approx Chi-Square Sphericity df Sig .846 1527.37 136 000 Total Variance Explained Factor Extraction Sums of Squared Loadings % of Cumulative Total Variance % 6.192 36.423 36.423 2.189 12.874 49.297 1.420 8.352 57.649 1.097 6.452 64.101 714 4.199 68.300 Rotation Sums of Squared Loadingsa Initial Eigenvalues % of Cumulative Total Variance % Total 6.476 38.096 38.096 4.539 2.427 14.275 52.371 4.119 1.756 10.329 62.699 4.117 1.489 8.760 71.460 3.235 1.035 6.087 77.547 3.597 617 3.627 81.173 572 3.363 84.536 493 2.903 87.438 395 2.322 89.760 10 375 2.208 91.968 11 293 1.722 93.690 12 250 1.473 95.162 13 225 1.326 96.488 14 200 1.176 97.664 15 150 884 98.548 16 129 760 99.308 17 118 692 100.000 Extraction Method: Principal Axis Factoring a When factors are correlated, sums of squared loadings cannot be added to obtain a total variance 50 Description loyalty22 I only pay my attention to this insurance company loyalty23 I encourage friends and relatives to buy insurance from X loyalty21 I consider buying the insurance of this company is my first choice for my car loyalty20 In the future, I will buy insurance from this Company function02 Compensation process is well made function03 Has an acceptable standard of quality function01 X has done compensation as promised in the insurance contract econom10 Offers value for money econom09 Is reasonably price emotion13 Is one that I would enjoy emotion14 Would make me want to use it society18 Buying car insurance is that you have responsibility to protect the lives and property of themselves and others society17 Buying car insurance, you help to reduce the economic burden for families and society as having car accident society19 Better social relationships function07 Staff is professional, accurate counseling and always come timely when customer have an accident function08 The process of compensation of company X is simple and convenient function04 Professional compensation process Extraction Method: Principal Axis Factoring Rotation Method: Promax with Kaiser Normalization a Rotation converged in iterations 51 Pattern Matrixa Factor 931 929 912 739 939 828 817 766 761 711 634 945 734 729 881 652 510 APPENDIX IV: RESULTS OF MULTIPLE LINEAR REGRESSION ANALYSIS FOR WHOLE SAMPLE Variables Entered/Removedb Mode Variables Variables l Entered Removed Method FUNCT2, Enter SOCIAL, ECOEMO, FUNCT1a a All requested variables entered b Dependent Variable: LOYAL Model Summary Model R 616 a R Adjusted R Square Square Std Error of the Estimate 379 361 77963673 a Predictors: (Constant), FAC5_1, FAC4_1, FAC3_1, FAC2_1 ANOVAb Model Sum of Squares 49.390 Mean Square 12.348 df F 20.314 Regressio n Residual 80.842 133 608 Total 130.232 137 a Predictors: (Constant), FUNCT2, SOCIAL, ECOEMO, FUNCT1 b Dependent Variable: LOYAL 52 Sig .000a Model Unstandardized Coefficients B Std Error (Constant) -1.339E.066 16 FUNCT1 -.114 094 ECOEMO 417 091 SOCIAL 088 086 FUNCT2 356 098 a Dependent Variable: LOYAL Coefficientsa Standardize d Coefficients Beta -.113 397 085 331 53 t 000 Sig 1.000 -1.212 4.573 1.027 3.619 227 000 306 000 Collinearity Statistics Toleranc e VIF 533 619 689 557 1.875 1.615 1.452 1.795 APPENDIX V: RESULTS OF MULTIPLE LINEAR REGRESSION ANALYSIS FOR OWN OWN = (Owner) Variables Entered/Removedb Model Variables Variables Entered Removed FUNCT2, Method Enter SOCIAL, ECOEMO, FUNCT1a a All requested variables entered b Dependent Variable: LOYAL Model Summary Mode R l R 566a Square 320 Adjusted R Std Error of Square the Estimate 280 75931805 a Predictors: (Constant), FAC5_1, FAC4_1, FAC3_1, FAC2_1 ANOVAb Model Sum of Mean Squares df Square F Regression 18.192 4.548 7.888 Residual 38.630 67 577 Total 56.822 71 a Predictors: (Constant), FAC5_1, FAC4_1, FAC3_1, FAC2_1 b Dependent Variable: FAC1_1 54 Sig .000a Model Unstandardized Coefficients Coefficientsa Standardize d Coefficients B Std Error (Constant) -.053 092 FUNCT1 -.012 138 ECOEMO 396 117 SOCIAL 190 141 FUNCT2 168 123 a Dependent Variable: LOYAL Beta -.011 398 153 172 t -.580 -.090 3.378 1.349 1.368 Sig .564 928 001 182 176 Collinearity Statistics Toleranc e VIF OWN = (Driver) Variables Entered/Removedb Mode l Variables Variables Entered Removed FUNCT2, Method Enter SOCIAL, ECOEMO, FUNCT1a a All requested variables entered b Dependent Variable: LOYAL Variables Entered/Removedb Model Summary Model R R 705a Adjusted R Std Error of Square Square 498 465 the Estimate 77746663 a Predictors: (Constant), FUNCT2, SOCIAL, ECOEMO, FUNCT1 55 670 730 786 639 1.492 1.371 1.272 1.565 ANOVAb Model Sum of Mean Squares df Square F Sig Regression 36.525 9.131 15.107 000a Residual 36.872 61 604 Total 73.397 65 a Predictors: (Constant), FUNCT2, SOCIAL, ECOEMO, FUNCT1 b Dependent Variable: LOYAL Model Unstandardized Coefficients B Std Error (Constant) 047 097 FUNCT1 -.270 134 ECOEMO 439 143 SOCIAL 039 108 FUNCT2 667 158 a Dependent Variable: LOYAL Coefficientsa Standardize d Coefficients Beta -.279 397 041 558 56 t 479 -2.011 3.078 363 4.224 Sig .633 049 003 718 000 Collinearity Statistics Toleranc e VIF 429 495 648 472 2.333 2.021 1.544 2.117 APPENDIX VI: FREQUENCIES Statistics OWN N Valid Missing 138 OWN Valid Owner driver Total Frequency 72 66 138 Valid Cumulative Percent Percent Percent 52.2 52.2 52.2 47.8 47.8 100.0 100.0 100.0 57 APPENDIX VII: DESCRIPTIVE ANALYSIS Minimu m function01 function02 function03 function04 function05 function06 function07 function08 econom09 econom10 econom11 econom12 emotion13 emotion14 emotion15 emotion16 society17 society18 society19 loyalty20 loyalty21 loyalty22 loyalty23 Valid N (listwise) N Statist ic Statistic 138 2.00 138 3.00 138 3.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 1.00 138 2.00 138 2.00 138 2.00 138 1.00 138 Descriptive Statistics Std Maxim Deviatio um Mean n Skewness Statisti Std Statistic c Statistic Statistic Error 5.00 4.3116 64842 -.734 206 5.00 4.2029 72655 -.332 206 5.00 4.1739 71392 -.268 206 5.00 4.1014 90650 -1.336 206 5.00 3.9493 1.02039 -1.278 206 5.00 3.9565 84464 -.507 206 5.00 3.7464 98944 -.709 206 5.00 3.8261 92739 -.871 206 5.00 3.8043 96553 -1.275 206 5.00 3.9420 87769 -1.069 206 5.00 4.1449 82436 -.752 206 5.00 3.4565 87228 -.501 206 5.00 4.0507 67621 -.923 206 5.00 3.8551 74040 -.856 206 5.00 4.2246 72513 -1.071 206 5.00 3.8913 85166 -1.156 206 5.00 4.4130 72221 -1.283 206 5.00 4.6522 57506 -2.373 206 5.00 4.2826 82823 -.962 206 5.00 3.8551 68934 062 206 5.00 3.7101 69621 332 206 5.00 3.5290 77546 379 206 5.00 3.5870 74214 403 206 58 Kurtosis Statisti Std c Error 981 410 -1.046 410 -1.001 410 2.417 410 1.629 410 075 410 248 410 1.008 410 2.042 410 1.987 410 454 410 1.131 410 2.982 410 2.244 410 2.515 410 2.384 410 2.474 410 10.486 410 604 410 -.591 410 -.695 410 -.421 410 112 410 ... OVERVIEW OF COMPENSATION PROCESS OF CAR INSURANCE 2.1 Two way insurance - car physical damage insurance In car insurance we have two products: the first is car civil liability insurance and the second... Society value and the last Customer Loyalty The third part is about others information 23 item of the main part measure the impact of values on customer loyalty after experiencing compensation process, ... bought and experienced the compensation process of any insurance company in Vietnam 1.4RESEARCH SCOPE The research will conduct to study the impact of values on customer loyalty intention on car insurance

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  • COVER

  • ACKNOWLEGDEMENT

  • ABSTRACT

  • TABLE OF CONTENTS

  • LIST OF FIGURE

  • LIST OF TABLE

  • CHAPTER 1: INTRODUCTION

    • 1.1 RESEARCH BACKGROUND

    • 1.2 PROBLEM STATEMENT AND RATIONALE

    • 1.3RESEARCH QUESTIONS AND OBJECTIVES

    • 1.4RESEARCH SCOPE

    • 1.5SIGNIFICANCE OF STUDY

    • 1.6 THESIS STRUCTURE

  • CHAPTER 2: LITERATURE REVIEW

    • SECTION A: OVERVIEW OF COMPENSATION PROCESS OF CAR INSURANCE

      • 2.1 Two way insurance - car physical damage insurance

      • 2.2Compensation process of car insurance

        • 2.2.1 Car accident compensation claims process

        • 2.2.2 Responsibilities of the Automobile owner, driver in compensation process

      • 2.3 Accident survey

    • SECTION B: THEORIES AND RESEARCH MODEL

      • 2.4 Key concepts

        • 2.4.1 Functional value

        • 2.4.2 Economic value

        • 2.4.3 Emotional value

        • 2.4.4Social value

        • 2.4.5Customer loyalty

      • 2.5 Research model and hypotheses relationship

        • 2.5.1 Functional value and customer loyalty relationship

        • 2.5.2 Economic value and customer loyalty relationship

        • 2.5.3 Emotional value and customer loyalty relationship

        • 2.5.4 Social value and customer loyalty relationship

        • 2.5.5Moderating variables

  • CHAPTER 3: RESEARCH METHODOLOGY

    • 3.1 QUALITATIVE RESEARCH

    • 3.2 QUANTITATIVE RESEARCH

      • 3.2.1 Measurement scales

      • 3.2.2 Adjusting measurement scales

    • 3.3 QUESTIONNAIRE DESIGN

    • 3.4METHOD OF DATA ANALYSIS

    • 3.5HYPOTHESIS TESTING

      • 3.5.1 Descriptive statistics

      • 3.5.2 Reliability test of measurement scale

      • 3.5.3Validity test of the measurement scale by the exploratory factor analysis (EFA)

      • 3.5.4Multiple linear regressions

    • 3.6SUMMARY

  • CHAPTER 4: DATA ANALYSIS

    • 4.1 DESCRIPTIVE DATA ANALYSIS

    • 4.2 SURVEY PROCESS

    • 4.3MEASUREMENT SCALE ASSESSMENT

      • 4.3.1 Cronbach’s Alpha Reliability Analysis

      • 4.3.2 Exploratory Factor Analysis

      • 4.3.3 Discussion on the customer loyalty.

      • 4.3.4 Testing the research model hypotheses

      • 4.3.5 Testing the research model

      • 4.3.6 Hypothesis testing

    • 4.4 DISCUSSION

    • 4.5 SUMMARY

  • CHAPTER 5: CONCLUSIONS

    • 5.1 OVERVIEW

    • 5.2 KEY FINDINGS AND IMPLICATIONS

      • 5.2.1 Key findings

      • 5.2.2 Managerial Implications

    • 5.3 LIMITATIONS

  • REFERENCES

  • APPENDIX I: THE QUESTIONNAIREIN ENGLISH

  • APPENDIX II: RESULTS OF RELIABILITY ANALYSIS (CRONBACH’S ANPHA)

  • APPENDIX III: RESULTS OF FACTOR ANALYSIS

  • APPENDIX IV: RESULTS OF MULTIPLE LINEAR REGRESSION ANALYSIS FOR WHOLE SAMPLE

  • APPENDIX V: RESULTS OF MULTIPLE LINEAR REGRESSION ANALYSIS FOR OWN

  • APPENDIX VI: FREQUENCIES

  • APPENDIX VII: DESCRIPTIVE ANALYSIS

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