The effect of customer perceived value on customer satisfaction: A case study of Malay upscale restaurants

Abstract

Stiff competition and increasingly high operating costs have driven many international and domestic players to
introduce new outlet concepts. Malay fine dining, upscale restaurant segment is gaining popularity among
Malaysian, especially in Kuala Lumpur. This study examined the effect of perceived value on customer satisfaction
in Malay upscale restaurants in terms of emotional responses, monetary prices, behavioral price and reputation.
Primary data were gathered from 170 questionnaires returned by respondents from five Malay upscale restaurants in
Kuala Lumpur, and statistically analysed using SPSS version 21. The findings of this study revealed that monetary
prices had a high positive relationship with customer satisfaction. In addition, the beta value for emotional responses
(β=0.530, p<0.01), behavioral price (β=0.180, p<0.01) and reputation (β=0.168, p<0.01) also indicated the
respective contributions made to customer satisfaction.

Keywords: behavioral price, customer satisfaction, emotional responses, Malay upscale restaurants, monetary
price, perceived value