The effect of hedonic value, utilitarian value, and customer satisfaction in predicting repurchase intention and willingness to pay a price premium for smartwatch brands

Abstract

The aim of this study is to examine the role of hedonic value (HV), utilitarian value (UV), and customer satisfaction (CS) in individuals' willingness to pay a price premium (WTP a price premium) and repurchase intention (RI) to smartwatches. This study is unique and important as it only deals with smartwatches, unlike other studies on wearable technology products that often focus on the general situation. The research sample includes smartwatch users aged 18 years and above. An online survey was used to collect research data from 420 people identified using the convenience sampling method. After checking the missing values, 401 valid surveys were retained for further analysis. Hypotheses were analysed using the Structural Equation Modelling. The research findings revealed strong relationships between HV and UV and CS. HV and UV were found to positively affect the CS. The results showed that CS also had a positive influence on both WTP a price premium and RI.