(Relative) Status Quo Effects on Customer Loyalty in Satisfaction and Trust Relationships in Insurance

Authors

Abstract

The current research identifies the judgment and decision-making (J/DM) context as an additional relevant concern today for assessing consumer decision-making relative to automobile insurance. The research focuses on potential status quo effects on a satisfaction and trust model of customer loyalty, demonstrating that relative status quo contexts (relative to another consumer) appear to invoke a different J/DM model than non-comparative status quo contexts. The results demonstrate the general importance of consumer trust across both assessed contexts as a foundation for customer loyalty decisions. Satisfaction judgments, on the other hand, were found to operate only in the non-comparative scenario. The results afford important insights for insurance marketers in terms of positioning strategies based upon group membership identification versus non-comparative emphases such as price.

Author Biographies

Steven A Taylor, Illinois State University

Associate Editor, Journal of Consumer Satisfaction, Dissatisfaction and Complaining Behavior.

Distinguished Professor of Marketing

Illinois State University

Professor Sirmans, https://business.illinoisstate.edu/finance/faculty_staff/sirmans.shtml

Orcid Number: 0000-0001-6535-342X

Assistant Professor Risk Management and Insurance
Department of Finance, Insurance and Law
Illinois State University
Normal, IL 61790-5490

Published

2020-02-02

Issue

Section

Journal Articles