Perceived Price as Antecedent of Satisfaction and Loyalty: Learn from Fast Food Multinational Restaurants in Indonesia

Abstract

Currently, multinational fast-food restaurant like the American fast food restaurant business is in great demand in Asian countries, especially in Indonesia. Maybe it can be categorised as a trend that is currently in effect. The uniqueness of the presentation or product appearance, the various types of menus and tastes, the restaurant environment, the prices offered, and several other factors contribute to creating the purchase intention of Indonesian customers. However, it is still rare to use this concept of thinking as the basic basis for measuring customer satisfaction, especially in American fast food restaurant branches in Asia, especially in Indonesia. Based on this explanation, the purpose of this study is to determine the relationship between product quality, service quality, physical environment quality, perceived price, satisfaction, loyalty, happiness, and trust in the customers of the fast-food restaurant. We distributed online questionnaires via google with a purposeful sampling method to 130 respondents conducted in July 2021. This study uses the SEM analysis method. The results show that there is a relationship between perceived price, product quality, service quality, physical environment quality, and customer satisfaction. Customer satisfaction has a positive effect on loyalty and happiness. Trust can moderate the relationship between customer satisfaction and loyalty. The results can be applied by fast-food restaurants that are interested in learning about similar factors that can increase customer satisfaction and loyalty, especially in developing countries that have almost the same respondent criteria as Indonesia. Implications for Central European audience: The knowledge used in various marketing studies that support customer satisfaction and customer loyalty can be built on the quality they receive and their perception of the price of the product. Also noteworthy is the finding that the effect of product quality and service quality does not always affect each product category. These results can be utilised by fast-food restaurant businessmen and other culinary businesses who use foreign themes to increase competitiveness in the country. But it can also be used for European producers who want to open their culinary business in Asian countries.