TX_1~AT/TX_2~AT International Review of Management and Marketing | Vol 13 • Issue 2 • 202328 International Review of Management and Marketing ISSN: 2146-4405 available at http: www.econjournals.com International Review of Management and Marketing, 2023, 13(2), 28-35. Satisfaction and Loyalty of Korean Restaurant Consumers Based on Consumer Value and Knowledge Caesarilla Maggie Zavira, Dyah Ismoyowati, Henry Yuliando* Department of Agroindustrial Technology, Gadjah Mada University, Yogyakarta, Indonesia. *Email: henry_yuliando@ugm.ac.id Received: 28 December 2022 Accepted: 07 March 2023 DOI: https://doi.org/10.32479/irmm.14207 ABSTRACT Korean food is increasingly popular worldwide, which has made many Korean restaurants pop up, including in Yogyakarta. However, with the various challenges, some restaurants are currently not operating. One of the factors that may be the cause is the need for more consumer satisfaction in the competitive Korean food market. This research examines the effect of consumer values (hedonic and utilitarian value) and consumer knowledge on consumer satisfaction and loyalty in Korean restaurants. Partial Least Square was used in this study by taking a sample of 331 respondents using purposive and snowball sampling techniques through online surveys. Validity and reliability tests were also carried out at the beginning of data processing. Descriptive analysis is used to find out socio-demographic information and consumer behaviour. The analysis results show that consumer value and knowledge positively and significantly affect customer satisfaction and loyalty. Utilitarian has a greater influence than hedonic values. Satisfaction can be explained by hedonic and utilitarian value and consumer knowledge by 60.2%, while consumer loyalty can be explained by 61.8%. Keywords: Korean Food, Satisfaction, Loyalty, Knowledge, Consumer Value JEL Classifications: M30, M31 1. INTRODUCTION Nowadays, Korean food is getting more and more popular worldwide. This popularity began with introducing of a chicken dish cooked in a Korean recipe, bibimbap. Popularity also applies to other traditional Korean foods, which have spread to various countries, especially China and Southeast Asia (Hwang et al., 2018). Introducing Korean food worldwide is also supported by establishing the “Korean Food Foundation” which aims to analyze the market (Kim and Yoo, 2020). This makes consumers in various countries interested in Korean food (Seo et al., 2012). Consumer knowledge of food from other countries leads to increased consumption of a country’s ethnic food, including Korean food. As a result, many ethnic restaurants are starting to stand up. Ethnic restaurants are restaurants that combine physical arrangements similar to those of the nation where the food was produced, including how it is served (Marinkovic et al., 2015). In recent years, Korean restaurants have begun to appear in Yogyakarta, each of which has a different concept. For this ethnic restaurant business, consumers usually look for delicious food and authentic cultural experiences from the interior, music, and layout (Song and Qu, 2017). By searching on Google using the keyword “Ethnic Korean restaurant in Yogyakarta” for all available regions, 24 Korean restaurants were found listed on the Google Star Rating. These restaurants include Bornga, Silla Korean and Japanese Restaurant, King Korea, Seorae, Chingu Café, and many more. Based on further investigation, several of the listed restaurants are no longer operating. It is suspected that the cause of their not being able to survive is because they cannot provide satisfaction for their customers amid intense competition with other similar restaurants. It is understood that the restaurant business faces various challenges, and one of them is consumers who have more expectations from dining experiences, such as searching for ambiance (Bilgihan et al., 2018). It is essential for restaurants to know consumer satisfaction with their products, This Journal is licensed under a Creative Commons Attribution 4.0 International License Zavira, et al.: Satisfaction and Loyalty of Korean Restaurant Consumers Based on Consumer Value and Knowledge International Review of Management and Marketing | Vol 13 • Issue 2 • 2023 29 services, and experiences and provide differential value to consumers (Hanaysha, 2017). For Korean restaurant management to understand the impact of consumer perceived value on customer happiness and loyalty when dining at Korean restaurants, they need to use the competitive business environment as a guide. Values felt by consumers that are widely used in the literature are Hedonistic and practical principles (Hasan, 2022). Hedonic value is a consumer judgment based on pleasure, while utilitarian value is based on the benefits or harms received from a product or service (Lee and Wu, 2017). According to (Lee and Kim, 2018), utilitarian values include product/service efficiency, specific tasks, and aspects of the economic dimension. According to Holbrook and Hirschman (1982) in Sukhu and Bilgihan (2021), hedonic value focuses on the desire for pleasure and aspects of experience connected with the search for pleasure, fantasy, and feelings. When consumers realize that there is sufficient value and income in a potential purchase, one of the important factors in the final purchase decision is consumer knowledge. This consumer knowledge will help determine consumer needs and increase consumer satisfaction (Bidgoli et al., 2021). Low levels of consumer knowledge lead to a lack of trust in buying behavior (Li et al., 2021). Snowball sampling is sampling obtained from a rolling process from one respondent to another (Nurdiani, 2014). Restaurant management must anticipate the customer’s decision- making process when considering various elements before dining. This is important because the first impression consumers will be the impression that sticks with them (Shahzadi et al., 2018). The restaurant business must be able to attract and retain consumers to survive in the competition. Furthermore, to get loyal customers, business people must fulfill their satisfaction. Satisfaction can be achieved if the products, services, and experiences created at the restaurant can meet consumer expectations (Ahmed et al., 2022). Dissatisfied consumers will likely switch to competitors (Xia and Ha, 2021). Mbango (2019) argues that consumer satisfaction results from consumer value, while loyalty is the impact of consumer satisfaction. Having loyal consumers or customers is an advantage for the company because it will provide additional value through repeat purchases. In addition, having loyal consumers will also reduce the costs a business must incur to retain its customers (Chikazhe et al., 2021). Therefore, this study aims to analyze the effect of hedonic Table 1: List of questionnaire statements Code Statement Source Hedonic value V1 The presentation of food in Korean restaurants is attractive and meets my expectations. Jin et al. (2012) V2 Restaurant has attractive and informative advertisements and promotions on social media, which inspires my trust and confidence in Korean restaurants. Kwon et al. (2020) V3 Korean restaurant has employees who look clean and tidy. Jin et al. (2012) V4 Korean restaurant has an attractive layout in the Korean style. Song and Qu (2017) V5 Korean restaurant provides free internet service, and this is pleasing to me. Chen et al. (2011) V6 Korean restaurant played Korean songs, and I enjoyed them. Ha and Jang (2010) V7 Korean restaurant has a clean dining area, so I can enjoy the dishes I ordered properly. Chen et al. (2011) Utilitarian Value U1 Korean restaurant has a delicious and distinctive taste according to the taste I am looking for. Song and Qu (2017) U2 Korean restaurant has a wide variety of menus. Song and Qu (2017) U3 Korean restaurant serves the ordered menu in the right portion and satisfies my hunger. Song and Qu (2017) U4 Korean restaurant is located in an easily accessible and strategic location. Harrington et al. (2017) U5 Korean restaurants often provide regular discounts. Kukanja et al. (2017) U6 Korean restaurant employees provide good service according to consumer demand. Chen et al. (2011) U7 Korean restaurant employees are informative in providing explanations to consumers. Chen et al. (2011) U8 Korean restaurant provides timely service according to the estimation given by. Chen et al. (2011) U9 Restaurant provides fast service to customers. Ryu et al. (2010) U10 Korean restaurants have affordable and reasonable food prices. Ha and Jang (2010) U11 Korean restaurants have lower food prices than other ethnic restaurants. Harrington et al. (2017) Consumer Knowledge P1 I know a lot about Korean restaurants that suit my tastes. Li et al. (2021) P2 I know where to buy Korean food. Li et al. (2021) P3 I know different types of Korean food. Huy Tuu and Ottar Olsen (2009) P4 I am more familiar with Korean restaurants than other restaurants. Peng and Chen (2015) P5 I have more knowledge about Korean food than my friends. Donoghue et al. (2021) Customer Satisfaction K1 Korean restaurant offers products and services that meet my expectations. Lee and Wu (2017) K2 The Korean restaurant that I visited was able to fulfill my needs regarding Korean food. Dirsehan and Cankat (2021) K3 The Korean restaurant I visited was of high-quality. Dirsehan and Cankat (2021) K4 I am satisfied with my dining experience at the Korean restaurant. Ahrholdt et al. (2019) Customer Loyalty L1 I will give positive comments about Korean restaurants if asked by. Gallarza et al. (2016) L2 I will recommend a Korean restaurant to my friends and family. Yoo and Park (2016) L3 I will invite my friends and family to come to the Korean restaurant. Gallarza et al. (2016) L4 I will be back to visit Korean restaurants next time. Gallarza et al. (2016) L5 I am still tolerant/accepting a price increase at a Korean restaurant. Gallarza et al. (2016) Zavira, et al.: Satisfaction and Loyalty of Korean Restaurant Consumers Based on Consumer Value and Knowledge International Review of Management and Marketing | Vol 13 • Issue 2 • 202330 Figure 1: Construct validity results values, utilitarian values, and consumer knowledge on consumer satisfaction and loyalty. 2. LITERATURE OVERVIEW 2.1. Consumer Value Consumer value is a preference that customers feel and evaluations of product use. The value perceived by consumers is subjective according to each individual and is influenced by many factors (Prebensen and Rosengren, 2016). Values felt by consumers can be described through utilitarian values and hedonic values. Utilitarian value is a trade-off focusing on needs and practices between benefits and costs (Ryu et al., 2010). Not only utility benefits, products and services are also often used for other reasons, such as emotional reasons, which are often referred to as hedonic values. Hedonic value is defined by Overby and Lee (2006) as an assessment of the benefits of experience, such as entertainment. 2.2. Consumer Knowledge Consumer knowledge often influences consumer behavior toward a product and satisfaction (Aghamirian et al., 2015 in Suchánek and Králová, 2019). Ordinary consumer knowledge is also associated with product knowledge. According to Cacciolatti et al. (2015), product knowledge usually comes from consumer memory. Product knowledge is often influenced by purchase frequency and usage experience. 2.3. Customer Satisfaction Satisfaction is important in consumer behavior and in the food service industry because it guides what needs to be done managerially (DiPietro and Levitt, 2019). Satisfaction can also be evaluated through consumer attitudes toward products or services. Consumers who feel satisfied will be willing to repurchase or seek experience of products or services in the future and are willing to recommend them to others (Suhartanto et al., 2019). 2.4. Customer Loyalty A restaurant business must depend on more than customer satisfaction to survive in a competitive business. More than that, the restaurant business needs to have loyal customers. Loyalty is a strong commitment to buy regularly or experience a product in the future, even though various factors can influence it. Loyal consumers will be willing to recommend to others and pay a premium price (Ahmed et al., 2022). 3. METHODOLOGY 3.1. Research Object This research was conducted at a Korean restaurant in the Special Region of Yogyakarta. Questionnaires were distributed online through social media to obtain data from Korean restaurant consumers. Online questionnaires were chosen because of their various advantages: flexibility, speed and timeline, convenience, ease of data input and analysis, diversity of statements, low cost, and ease of obtaining large amounts of data (Evans and Mathur, 2018). Research using purposive technique and snowball sampling. Purposive sampling is a sampling technique to obtain information from certain target groups who have information based on knowledge or experience (Etikan et al., 2016). Snowball sampling is sampling obtained from a rolling process from one respondent to another (Nurdiani, 2014). 3.2. Data Collection In addition to statements testing the impact of values and knowledge on consumer satisfaction and loyalty, respondents will be given questions about socio-demographic data and consumer behavior. Table 1 lists the proposed survey questions to examine the Zavira, et al.: Satisfaction and Loyalty of Korean Restaurant Consumers Based on Consumer Value and Knowledge International Review of Management and Marketing | Vol 13 • Issue 2 • 2023 31 impact of hedonic values, utilitarian values, consumer knowledge, consumer satisfaction, and consumer loyalty. Respondents are asked to select options from the following scale in the statement testing the influence: 1. Strongly disagree 2. Disagree 3. Neutral 4. Agree 5. Strongly agree Based on the results of distributing questionnaires and screening data, a total of 331 data were obtained, which could be further processed. The criteria for research respondents are consumers of Korean restaurants aged ≥18 years and have made purchases at Korean restaurants in the last 3 months. 3.3. Methods of Analysis PLS-SEM is a technique suitable for quantitative data analysis based on the research objectives. This is because PLS does not require fulfilling the data normality assumption (Tseng et al., 2022). In addition, to find out the socio-demographic information of the respondents, data analysis was also carried out using descriptive statistics. Descriptive statistics, as defined by Vetter (2017), is a technique for calculating, outlining, and summarizing gathered study data. Descriptive statistics were carried out to determine the respondents’ socio-demographic information, including gender, age, and occupation. Besides that, descriptive statistics are also used to find out information on consumer behavior, such as purchase frequency, restaurant preferences, nominal issued, and reasons for respondents’ interest in Korean food. The construct validity, convergent validity, internal consistency reliability, and discriminant validity of the reflective measurement model were assessed (Hair et al., 2014). The structural model is next evaluated after the measurement model has been authorized. A bootstrap approach was utilized to assess the path coefficients and statistically significant hypotheses. The valid sample size exceeds the 150 minimum sample size that is frequently used in SEM research (331). 4. RESULTS 4.1. Descriptive Analysis of Socio-demographic Characteristics and Consumer Behavior A total of 331 valid data used in this study can be analyzed statistically related to socio-demographic data and consumer behavior. The majority of respondents are female (79%). Respondents’ ages were grouped into 18-26 years, 27-35 years, and 36-44 years. Most respondents are students (88%). In the last three months, most respondents (164 people) made a one-time purchase at a Korean restaurant. Figure 1 shows the percentage of respondents’ gender. The majority of respondents (90%) also spend 0.4 and < 0.7. Based on Hair et al. (2014), if the outer loading value is > 0.40 but < 0.70, it can be evaluated through the impact of removing indicators on AVE and CR. If, after deletion, the indicator can increase the AVE and CR values to above the threshold, then the indicator can be removed. If deleting the indicators does not increase the AVE and CR values, the indicators are still maintained. After the evaluation was carried out, the AVE and CR values were above the threshold so that the indicators were not removed again. The results of the construct validity test after removing the indicators represented by the outer loading values can be seen in Table 3. In the table, it can also be seen that the AVE, outer loading, and CR values have Zavira, et al.: Satisfaction and Loyalty of Korean Restaurant Consumers Based on Consumer Value and Knowledge International Review of Management and Marketing | Vol 13 • Issue 2 • 2023 33 t= 4.574, p-value= 0.000). Another method that utilitarian value significantly and favorably affects customer loyalty is through customer satisfaction (= 0.182, t = 5.920, P = 0.000). Moreover, customer satisfaction—which impacts customer loyalty—is positively and significantly impacted by consumer education (= 0.128, t= 4.432, P = 0.000). The results of testing the coefficient of determination can be seen in Table 6. The simultaneous impact of exogenous latent variables on endogenous latent variables is described by the coefficient of determination. The R2 values of 0.67, 0.33, and 0.19, respectively, are threshold values for significant, moderate, and weak predictive strength, according to Chin (1998) in Tseng et al. (2022). According to the table, hedonic values, utilitarian values, and consumer knowledge account for 60.2% of consumer satisfaction, while other factors not related to the study account for the remaining percentage. The findings also indicate that hedonic values, utilitarian values, consumer knowledge, and consumer happiness account for 61.8% of consumer loyalty, while additional factors outside the scope of the study account for the remaining percentage. These findings indicate that the values of 0.602 and 0.618 have high predictive potential or a value close to 0.67. 5. CONCLUSION AND IMPLICATIONS Consumer value and knowledge positively affect consumer satisfaction and loyalty, with the influence exerted by the utilitarian value being more significant than the hedonic value. Hedonic values, utilitarian values, consumer knowledge, and consumer satisfaction may explain 60.2% of consumer contentment, while hedonic values, utilitarian values, consumer knowledge, and consumer satisfaction can explain 61.8% of customer loyalty. In this study, the results showed that most Korean restaurant consumers were in their 20s (Generation Z) and had reasons for their interest in Korean food, namely their curiosity and liking for Korean dramas. With this result, Korean restaurant business people need to be up-to-date on Korean drama trends and be able to recognize the various types of food that appear in them. This is intended as promotional material on social media. This promotional material can be used simultaneously to increase consumer knowledge and positively affect consumer satisfaction. In addition, this study also found that hedonic value is the initial factor that makes consumers interested in purchasing at Korean Table 4: Discriminant validity results Variable Indicator HV KK LK PK UV Consumer satisfaction (KK) K1 0.534 0.826 0.613 0.508 0.579 K2 0.525 0.835 0.620 0.468 0.580 K3 0.480 0.841 0.584 0.474 0.549 K4 0.530 0.864 0.677 0.501 0.547 Consumer loyalty (LK) L1 0.502 0.679 0.785 0.488 0.622 L2 0.437 0.592 0.812 0.525 0.459 L3 0.433 0.602 0.807 0.520 0.411 L4 0.494 0.626 0.896 0.515 0.496 L5 0.489 0.591 0.879 0.487 0.470 Consumer knowledge (PK) P1 0.350 0.440 0.454 0.825 0.295 P2 0.375 0.487 0.489 0.709 0.400 P3 0.370 0.518 0.518 0.794 0.330 P4 0.366 0.408 0.463 0.748 0.317 P5 0.325 0.361 0.406 0.800 0.237 Utilitarian value (UV) U1 0.448 0. 0.551 0.480 0.336 0.912 U2 0.474 0.572 0.517 0.357 0.938 U3 0.484 0.572 0.532 0.351 0.924 U4 0.244 0.371 0.248 0.182 0.494 U5 0.240 0.263 0.244 0.166 0.466 U6 0.488 0.595 0.548 0.368 0.931 U7 0.453 0.571 0.526 0.333 0.917 U8 0.501 0.617 0.529 0.400 0.767 U9 0.471 0.627 0.537 0.410 0.761 Hedonic value (HV) V1 0.958 0.589 0.532 0.422 0.503 V2 0.929 0.581 0.531 0.414 0.497 V4 0.965 0.566 0.520 0.411 0.509 V6 0.429 0.361 0.343 0.383 0.304 V7 0.952 0.540 0.501 0.396 0.492 Table 5: Hypothesis testing Research hypothesis Original sample (O) t-statistics P-values Conclusion H1: Hedonic Value→Consumer satisfaction 0.260 5.968 0.000 Supported H2: Utilitarian Value→Consumer satisfaction 0.410 9.918 0.000 Supported H3: Consumer knowledge→Consumer satisfaction 0.289 6.742 0.000 Supported H4: Hedonic Value→Consumer loyalty 0.105 2.336 0.010 Supported H5: Utilitarian Value→Consumer loyalty 0.138 2.535 0.006 Supported H6: Consumer knowledge→Consumer loyalty 0.244 5.028 0.000 Supported H7: Consumer satisfaction→Consumer loyalty 0.443 6.959 0.000 Supported H8: Hedonic Value→Consumer satisfaction→Consumer loyalty 0.115 4.574 0.000 Supported H9: Utilitarian Value→Consumer satisfaction→Consumer loyalty 0.182 5.920 0.000 Supported H10: Pengetahuan Konsumen→Consumer satisfaction→Consumer loyalty 0.128 4.432 0.000 Supported also directly and significantly positively impacted by customer knowledge (= 0.244, t = 5.028, P = 0.000). In conclusion, consumer loyalty is positively and significantly influenced by consumer satisfaction (= 0.443, t = 6.959, P = 0.000 to evaluate the direct effect). These results are consistent with Gallarza et al. 2016’s research, which shows that customer satisfaction and customer loyalty are positively connected. Furthermore, shown in Table 5 are the bootstrapping results. Consumer loyalty is positively and significantly indirectly impacted by the hedonic value via customer satisfaction (= 0.115, Zavira, et al.: Satisfaction and Loyalty of Korean Restaurant Consumers Based on Consumer Value and Knowledge International Review of Management and Marketing | Vol 13 • Issue 2 • 202334 restaurants. Compared to hedonic values, utilitarian values have a greater influence on consumer satisfaction and loyalty. So, even though consumers are looking for an authentic cultural experience that is reflected in attractive interiors, music, layout, advertisements and promotions, and cleanliness based on their visits to Korean restaurants (hedonic values), aspects of food quality, location, employees, and service (utilitarian values) become a more important consideration for consumers. Therefore, Korean restaurant managers or owners need to focus more on fulfilling the utilitarian aspects as well as fulfilling the hedonic aspects. The research has some limitations. Initially, the study was only carried out on consumers who had made purchases at Korean restaurants located in DIY. The results of this study may be more varied if the research is conducted on Korean restaurant consumers in several big cities in Indonesia. In addition, this study also obtained a sample of which the majority were students and students. 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