Antecedents and consequences of trust and satisfaction in buyer‐seller relationships

Antecedents and consequences of trust and satisfaction in buyer‐seller relationships The perspective of marketing has changed from regarding marketing as a series of independent transactions to a dynamic process of establishing, maintaining and enhancing relationships. In an emerging theory of relationship marketing, both trust and satisfaction are core concepts in understanding the dynamics of how relationships evolve. Although the literature has thoroughly examined both trust and satisfaction, the interrelationship between them, including their consequences and antecedents, has not yet been addressed properly. We propose that the development of buyer‐seller relationships can be understood as a sequence of decisions buyers make regarding whether they should enter a relationship, continue a relationship, or enhance the scope of a relationship. These are different kinds of decisions where satisfaction and trust are likely to play different roles in risk reductions depending on the nature of the decision to be made. In a study of institutional buyers of a food producer we find that satisfaction and trust are complementary in the sense that trust is a key variable when decisions are related to enhancement in scope of the relationship, whereas satisfaction is a key variable when the issue is relationship continuity. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png European Journal of Marketing Emerald Publishing

Antecedents and consequences of trust and satisfaction in buyer‐seller relationships

European Journal of Marketing, Volume 32 (3/4): 18 – Apr 1, 1998

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Publisher
Emerald Publishing
Copyright
Copyright © 1998 MCB UP Ltd. All rights reserved.
ISSN
0309-0566
DOI
10.1108/03090569810204580
Publisher site
See Article on Publisher Site

Abstract

The perspective of marketing has changed from regarding marketing as a series of independent transactions to a dynamic process of establishing, maintaining and enhancing relationships. In an emerging theory of relationship marketing, both trust and satisfaction are core concepts in understanding the dynamics of how relationships evolve. Although the literature has thoroughly examined both trust and satisfaction, the interrelationship between them, including their consequences and antecedents, has not yet been addressed properly. We propose that the development of buyer‐seller relationships can be understood as a sequence of decisions buyers make regarding whether they should enter a relationship, continue a relationship, or enhance the scope of a relationship. These are different kinds of decisions where satisfaction and trust are likely to play different roles in risk reductions depending on the nature of the decision to be made. In a study of institutional buyers of a food producer we find that satisfaction and trust are complementary in the sense that trust is a key variable when decisions are related to enhancement in scope of the relationship, whereas satisfaction is a key variable when the issue is relationship continuity.

Journal

European Journal of MarketingEmerald Publishing

Published: Apr 1, 1998

Keywords: Buyer‐seller relationships; Customer loyalty; Customer satisfaction; Relationship marketing; Trust

References

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