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1 Yonsei Business Review Vol. 51, No. 1 (Spring 2014), B2B Exploring the Antecedents and Consequences of Buyer Satisfaction in B2B: Brand Equity, Relationship Quality, Switching Cost, and Loyalty Gap Yeon Jeong** Hyun Jae Yu*** Min Suk Kim**** B2B 205 AMOS (7.0 version) SPSS (15.0 version) ( ) 1 ( kingkap@naver.com) ( bus89@sogang.ac.kr) ( positive.kms@gmail.com)

2 100 B2B ABSTRACT While much research has focused on customer satisfaction in business-toconsumer(b2c) context, customer satisfaction is important in business-to-business(b2b) context as well. To date, however, limited attempts have been made to conceptualize buyer satisfaction and investigate its antecedents and consequences, in particular, in B2B context. The objective of this study was to empirically analyze the causal influences antecedents such as supplier brand equity and consequences of buyer satisfaction in B2B context. For a more realistic approach the data was collected from B2B buyers. 205 samples were used for this analysis with AMOS (7.0 version) and SPSS (15.0 version). The empirical results of the study showed a strong significant relationship from antecedents of buyer satisfaction, buyer satisfaction, relationship quality and switching costs to loyalty. The results can be summarized as follows: first, it was found that perceived quality, perceived value and supplier brand awareness positively affected buyer satisfaction, while supplier brand image had no influence on buyer satisfaction. Second, it was found that buyer satisfaction had positive effect on relationship quality and loyalty, while there was no relationship between buyer satisfaction and switching cost. Third, relationship quality had positive influence on increasing the switching cost and loyalty. Finally, switching cost positively affected to enhance loyalty. Key words B2B, Buyer Satisfaction, Supplier Brand Equity, Relationship Quality, Switching Cost, Loyalty.

3 B2B Kanter, 1989 B2B(business-tobusiness) Narayandas, 2005 B2B B2C 2007 Kotler & Pfoertch, 2006) B2B 2010 B2B B2B B2B Durvasula et al., 2003; Lam et al., 2004 Bendixen et al., 2004 B2B Madaleno et al., 2007; Terawatanavong et al., 2007 Gil et al., 2008 Molinari et al., 2008; Naumann et al., 2009 B2B

4 102 B2B B2B Anderson, 2004; Michell et al., 2001 B2B B2B transaction-specific assets B2B. transaction-specific assets Hill, 1990;, 2011 B2B

5 B2B 103 Heide & John, B2B B2C Oliver, 1999 Cronin & Taylor, 1992; Anderson et al., 1994 Fornell et al., 1996; Oliver, 1999 Caruanna, 2002; Hellier, Geursen et al., 2003; Homburg & Ruldolph, 2001 B2C B2B Henrikki & Alajoutsijarvi, 2000 B2B Cater & Cater, 2010 B2B

6 104 Anderson et al.(1994) Geyskens et al.(1999) Jap and Ganesan(2000) (Homburg & Stock, 2004) B2B B2B Berebs et al., 2005; Chaudhuri & Holbrook, 2001; Gil et al., 2008; Janda et al., 2002; Wood, 2008) Aaker, 1996; Keller et al., 1998; Yoo et al., 2000 Low & Lamb, 2000 Janda et al.(2002) Durvasula et al.(2003) B2B 2006 B2B

7 B2B 105 Bennett & Rundle-Thiele, 2004). Madaleno et al.(2007) Gil et al.(2008) B2B Berebs et al., 2005 Jensen and Klastrup(2008) 2009 B2B Aaker, Gladden and Funk(2002) B2B

8 B2B B2C Oliver, 1999 Fornell, 1992 Gerpott et al.(2001) B2B B2B (Lam et al., 2004; Molinari et al., 2008; Wood, 2008). B2B Crosby et al.(1990) Jarvelin and Lehtinen(1996) Larges et al.,(2005) B2B Bejou et al., 1996; Larges et al.,

9 B2B (Dick & Basu, 1994) 2007 Lam et al.(2004) Yanamandra and White(2006) Sharma & Patterson, B2B Low & Blois, 2002

10 108 Anderson, 2004 B2B Aaker, 1996; Keller et al., 1998; Yoo et al., Bauer et al., 2006 Janda et al.(2002) Molinari et al.(2008)

11 B2B Lam et al(2004) (Gil et al., 2008) (Johnson & Gustafsson, 2000). Madrigal(2000) Jensen and Klastrup(2008) Keller et al.,

12 110 Gladden and Funk(2002) Mittal & Kamakura, 2001 Auh et al., Fornell(1992) Lam et al.(2004) 2006 Fornell(1992) 2006 (Molinari et al., 2008) 5

13 B2B Morgan & Hunt, 1994 Crosby et al., Yanamandram and White(2006) Ruyter et al.(1998) Jones et al.(2000) Lee and Cunningham(2001)

14 Likert-type) Zeithaml(1988), Low and Lamb(2000) 4 Zeithamal(1988) Bennett and Rundle-Thiele(2004) 5 Berebs et al.(2005) 6 Aaker(1996) 4 Geyskens et al.(1999) Jap and Ganesan(2000) 4 Amy and Sohal(2002) Larges et al.(2005) 11 Dick and Basu(1994) Yanamandra and White(2006) 5

15 B2B 113 Oliver(1999) Anderson and Srinivasan(2003) 5 Appendix 3.4. MTI code IT missing variable SPSS 12.0 AMOS common method bias Harmon one-factor test Podsakoff et al., % 23.6% 16.4% Podsakoff et al., 2003

16 % % % % % % 86% 4.2. FGI(Focus Group Interview) Cronbach s 2 RQ7, RQ , Cronbach s Nunnally(1978) 0.7

17 B2B B2B content validity construct validity discriminant validity 2 = (p = 0.058) RMSEA = 0.022, CFI = CFI CFI factor loading average variance extracted; AVE construct reliability 2007 standardized factor loading (PV2) 1 LY4 estimates C.R. t 8 t p PG *** PG *** PG *** PG *** PV *** PV *** PV *** PV ***

18 116 t p BI *** BI *** BI *** BI *** BI *** BI *** BA *** BA *** BA *** BA *** SA *** SA *** SA *** SA *** RQ *** RQ *** RQ *** RQ *** RQ *** RQ *** RQ *** RQ *** RQ *** SW *** SW *** SW *** SW *** SW *** LY *** LY *** LY *** LY *** 2 = , d.f. = 905, p = 0.058, 2 /d.f. = 1.075, RMSEA = 0.022, CFI= p.001

19 B2B Hair et al., 1998 AVE AVE AVE AVE AVE AVE r r

20 118 AVE AVE r r df df RMSEA CFI PGFI PNFI

21 B2B C.R. P H H H H H H H H H H *** : p < B2B B2B

22 120 B2B transaction-specific assets B2B Jones et al.,(2000) Mittal and Kamakura(2001)

23 B2B 121 B2B B2B B2B B2B B2B B2B

24 B2B

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31 B2B 129 Appendix Zeithaml(1988), Low and Lamb(2000) Zeithamal(1988) Bennett and Rundle-Thiele(2004) Berebs et al.(2005) Aaker(1996) Geyskens et al.(1999) Jap and Ganesan(2000) Amy and Sohal(2002) Larges et al.(2005)

32 130 Dick and Basu(1994) Yanamandra and White(2006) Oliver(1999) Anderson and Srinivasan(2003)

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,...... The Effect of Cosmetic Companies CRM Activities on Relationship Benefits, Relationship Commitment and Brand Switching Reduction Intention Department of Fashion Design, Sungkyunkwan University Lecturer