Abstract
This paper deals with an analysis of correlation network among the satisfaction characteristics evaluated by the international students of top five Malaysian universities. The method developed in econophysics has been used to filter the information contained in a correlation structure. In this paper, we present a correlation network analysis where the correlation structure is determined based on robust approach. This approach is used to have a better understanding of foreign students’ satisfaction which will be very useful for Malaysian universities. Based on our proposed centrality measure, interestingly, the result demonstrates that the item “pay premium price” is the most influential characteristic that reflects to the highest degree of satisfaction for the international students. The university senior management would benefit by knowing this result in order to gain competitive advantage over other universities. Practical implications are provided accordingly.
Highlights
Measuring consumer satisfaction in a competitive marketplace becomes an important differentiator of marketing strategy
3.1 Correlation Network Analysis The dataset of 522 international students has been screened for their validity, and only 487 respondents are selected to be used in the analysis
Since we expect the larger value of alpha, it shows that robust approach is applicable in this analysis
Summary
Measuring consumer satisfaction in a competitive marketplace becomes an important differentiator of marketing strategy. Many consumer satisfaction definitions use a disconfirmation paradigm to measure satisfaction. Organizations are capable to get an evidence of how successful they are in providing services to the market. Many customer satisfaction definitions use a disconfirmation paradigm to measure the antecedents of satisfaction. This paradigm states that satisfaction depends on the size and direction of the disconfirmation experience, whereas disconfirmation is a function of the person’s initial expectations. A person’s expectations are: (1) confirmed when a product performs as expected, (2) negatively disconfirmed when the product performs more poorly than expected, and (3) positively disconfirmed when the product performs better than expected (Churchill & Suprenant, 1982; Tse & Wilton, 1988)
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