Exploring the influence of customers' time horizon perspectives on the satisfaction-loyalty link☆ , ☆☆

Anecdotal evidence suggests that older individuals behave more emotionally and less cognitively due to their decreasing biological, cognitive, and/or social abilities, or a combination thereof. However, in the psychology and aging literatures, recent research indicates that the sense of future time is a better predictor of consumer perceptions, attitudes, and behaviors than chronological age. Tying in with these research streams, this paper introduces individuals' future time perspective (FTP) as a moderator of the well-known satisfaction–loyalty relationship. More precisely, this paper demonstrates that FTP influences the satisfaction–loyalty relationship by (1) driving customer loyalty, and (2) moderating the relationship between these two constructs. Besides contributing an important concept to the business research literature, the findings provide evidence that explains the previous heterogeneous results of chronological age-related research. This concept allows for a more nuanced analysis of aging's impact on the perceptions, attitudes, and behaviors of consumers.

[1]  L. Carstensen,et al.  Influence of time on social preferences: implications for life-span development. , 1999, Psychology and aging.

[2]  Christian Homburg,et al.  Personal characteristics as moderators of the relationship between customer satisfaction and loyalty—an empirical analysis , 2001 .

[3]  Anil Mathur,et al.  A study of life events and changes in patronage preferences , 2001 .

[4]  L. Carstensen,et al.  Time counts: future time perspective, goals, and social relationships. , 2002, Psychology and aging.

[5]  Lynn Sudbury,et al.  Understanding older consumers through cognitive age and the list of values: A U.K.‐based perspective , 2009 .

[6]  Xiucheng Fan,et al.  Multiple emotional contagions in service encounters , 2011 .

[7]  R. Terlutter,et al.  Consumer responses towards non-prescription and prescription drug advertising in the US and Germany , 2008 .

[8]  Katrin R. Harich,et al.  Think and Feel Country Clusters: A New Approach to International Advertising Standardization , 1996, International Journal of Advertising.

[9]  L. J. Williams,et al.  Recent Advances in Causal Modeling Methods for Organizational and Management Research , 2003 .

[10]  A. Drolet,et al.  Socioemotional Selectivity Theory: Implications for Consumer Research , 2011 .

[11]  Marko Sarstedt,et al.  Partial least squares structural equation modeling (PLS-SEM): An emerging tool in business research , 2014 .

[12]  Richard Schulz,et al.  A motivational theory of life-span development. , 2010, Psychological review.

[13]  Darren C. Treadway,et al.  Time May Change Me: The Impact of Future Time Perspective on the Relationship Between Work–Family Demands and Employee Commitment , 2011 .

[14]  H. Fung,et al.  Age differences in social preferences among Taiwanese and Mainland Chinese: the role of perceived time. , 2001, Psychology and aging.

[15]  Detmar W. Straub,et al.  Common Beliefs and Reality About PLS , 2014 .

[16]  G. Laurent,et al.  Repeat Purchasing of New Automobiles by Older Consumers: Empirical Evidence and Interpretations , 2005 .

[17]  Sevgin Eroğlu,et al.  Describing and Measuring Emotional Response to Shopping Experience , 2000 .

[18]  Mathias Allemand,et al.  Age differences in forgivingness: The role of future time perspective , 2008 .

[19]  J. Hair.  Multivariate data analysis , 1972 .

[20]  Narda R. Quigley,et al.  Insights from Project GLOBE , 2010 .

[21]  Leon G. Schiffman,et al.  Value orientations of new-age elderly: The coming of an ageless market , 1991 .

[22]  Marko Sarstedt,et al.  An assessment of the use of partial least squares structural equation modeling in marketing research , 2012 .

[23]  B. Fredrickson,et al.  Choosing social partners: how old age and anticipated endings make people more selective. , 1990, Psychology and aging.

[24]  Kathy Hammond,et al.  First-Store Loyalty and Retention , 2000 .

[25]  L. Carstensen,et al.  Sending memorable messages to the old: age differences in preferences and memory for advertisements. , 2003, Journal of personality and social psychology.

[26]  Janet R. Mccoll-Kennedy,et al.  Involvement, satisfaction, and brand loyalty in a small business services setting , 2007 .

[27]  A. Gustafsson,et al.  The Effects of Customer Satisfaction, Relationship Commitment Dimensions, and Triggers on Customer Retention , 2005 .

[28]  B. Huhmann,et al.  Effects of age, need for cognition, and affective intensity on advertising effectiveness , 2011 .

[29]  L. Carstensen,et al.  Taking time seriously. A theory of socioemotional selectivity. , 1999, The American psychologist.

[30]  Marko Sarstedt,et al.  PLS-SEM: Indeed a Silver Bullet , 2011 .

[31]  P. A. Dabholkar,et al.  A comprehensive framework for service quality: an investigation of critical conceptual and measurement issues through a longitudinal study , 2000 .

[32]  M. Perlmutter,et al.  Future time perspective and life events across adulthood. , 1995, The Journal of general psychology.

[33]  F. Kohlbacher,et al.  Understanding "silver" consumers through cognitive age, health condition, financial status, and personal values: Empirical evidence from the world's most mature market Japan , 2012 .

[34]  Wayne D. Hoyer,et al.  The Role of Cognition and Affect in the Formation of Customer Satisfaction: A Dynamic Perspective , 2006 .

[35]  A. Picón,et al.  The relationship between satisfaction and loyalty: A mediator analysis , 2014 .

[36]  Gary L. Hunter,et al.  When does Consumer Empowerment Lead to Satisfied Customers? Some Mediating and Moderating Effects of the Empowerment-Satisfaction Link , 2008 .

[37]  Laura L. Carstensen,et al.  At the Intersection of Emotion and Cognition , 2005 .

[38]  G. Menon.  The Influence of Concrete Versus Abstract Affect On Time-Dependent Decisions , 2010 .

[39]  Ruth N. Bolton,et al.  The effect of customers' emotional responses to service failures on their recovery effort evaluations and satisfaction judgments , 2002 .

[40]  R. Terlutter,et al.  The cultural dimension of assertiveness in cross-cultural advertising , 2010 .

[41]  Carol C. Bienstock,et al.  Measuring Involvement With the Service: A Further Investigation of Scale Validity and Dimensionality , 2006 .

[42]  Michael Frese,et al.  Remaining time and opportunities at work: Relationships between age, work characteristics, and occupational future time perspective. , 2009, Psychology and aging.

[43]  S. Chaiken,et al.  The psychology of attitudes. , 1993 .

[44]  Howard M. Weiss,et al.  Deconstructing job satisfaction: Separating evaluations, beliefs and affective experiences , 2002 .

[45]  H. Gonçalves.  Multi-group invariance in a third-order factorial model: Attribute satisfaction measurement ☆ , 2013 .

[46]  Valarie A. Zeithaml,et al.  Moving forward in service quality research : measuring different customer-expectation levels, comparing alternative scales, and examining the performance-behavioral intensions link : working paper , 1994 .

[47]  C. Micu,et al.  The effect of ageing and time horizon perspective on consumers’ response to promotion versus prevention focus advertisements , 2010 .

[48]  Martin Wetzels,et al.  Linking perceived service quality and service loyalty: a multi‐dimensional perspective , 1999 .

[49]  Alison Dean,et al.  The contribution of emotional satisfaction to consumer loyalty , 2001 .

[50]  P. Baltes,et al.  Desired lifetime and end-of-life desires across adulthood from 20 to 90: a dual-source information model. , 2007, The journals of gerontology. Series B, Psychological sciences and social sciences.

[51]  A. Griffiths.  Ageing, health and productivity: A challenge for the new millennium , 1997 .

[52]  A. Parasuraman,et al.  The Behavioral Consequences of Service Quality , 1996 .

[53]  Laura L. Carstensen,et al.  The Theory Behind the Age-Related Positivity Effect , 2012, Front. Psychology.

[54]  Bernd H. Schmitt,et al.  The Processing of Emotional and Cognitive Aspects of Product Usage in Satisfaction Judgments , 1991 .

[55]  C. McBride-Chang,et al.  Meaning of grandparenthood: Do concerns about time and mortality matter? , 2005 .

[56]  Dwayne D. Gremler,et al.  The loyalty ripple effect , 1999 .

[57]  L. Carstensen.  The Influence of a Sense of Time on Human Development , 2006, Science.

[58]  P. Patterson.  Demographic correlates of loyalty in a service context , 2007 .

[59]  R. Batra,et al.  Measuring the hedonic and utilitarian sources of consumer attitudes , 1991 .

[60]  K. Reynolds,et al.  Customer benefits and company consequences of customer-salesperson relationships in retailing , 1999 .

[61]  A. Drolet,et al.  Age-Related Differences in Responses to Emotional Advertisements , 2005 .

[62]  Kenneth L. Bernhardt,et al.  Effects of cognitive age, dispositional time perceptions, and time view manipulations on product attribute evaluations , 2013 .

[63]  Scott B. MacKenzie,et al.  Common method biases in behavioral research: a critical review of the literature and recommended remedies. , 2003, The Journal of applied psychology.

[64]  Laura L. Carstensen,et al.  Emotion in the Second Half of Life , 1998 .

[65]  G. Laurent,et al.  Why do Older Consumers Buy Older Brands? The Role of Attachment and Declining Innovativeness , 2010 .

[66]  Eric J. Arnould,et al.  Consumers’ emotional responses to service encounters , 1995 .

[67]  T. Keiningham,et al.  A Longitudinal Analysis of Customer Satisfaction and Share of Wallet: Investigating the Moderating Effect of Customer Characteristics , 2007 .

[68]  Marko Sarstedt,et al.  Applying the future time perspective scale to advertising research , 2014 .

[69]  Anne W. Mägi,et al.  Share of wallet in retailing: the effects of customer satisfaction, loyalty cards and shopper characteristics , 2003 .

[70]  O. John,et al.  Testing models of the structure and development of future time perspective: maintaining a focus on opportunities in middle age. , 2007, Psychology and aging.

[71]  C. Fornell,et al.  Evaluating structural equation models with unobservable variables and measurement error. , 1981 .

[72]  L L Carstensen,et al.  Influence of HIV status and age on cognitive representations of others. , 1998, Health psychology : official journal of the Division of Health Psychology, American Psychological Association.

[73]  V. Mittal,et al.  Satisfaction, Repurchase Intent, and Repurchase Behavior: Investigating the Moderating Effect of Customer Characteristics , 2001 .

[74]  Adamantios Diamantopoulos,et al.  Advancing formative measurement models , 2008 .