Abstract

This study attempts to develop the conceptual model for explaining consumers’ preference toward retailers based on the relationship marketing strategy and transaction cost theory. Specifically, this study investigates the impacts of relationship marketing and transaction cost on customer satisfaction and perceived risk. In addition, the influences of customer satisfaction and perceived risk on customer loyalty deserve further consideration. To assess the applicability of this conceptual model, this study confined the research scope to shopping malls. The results show that relationship marketing significantly has positive effect on customer satisfaction and negative effect on perceived risk. As to influence of transaction cost, it significantly has negative effect on customer satisfaction and positive effect on perceived risk. Furthermore, both relationship marketing and transaction cost could influence customer loyalty through customer satisfaction or customer’s perceived risk.

Key words: Relationship marketing strategy, transaction cost, customer satisfaction, perceived risk, customer loyalty.