Abstract:

 From the customer perceived gift value (including utilitarian value and hedonic value), this paper builds up a concept model, which takes utilitarian value and hedonic value as leading variables, takes customer satisfaction and customer trust as intermediary variables, and takes customer loyalty as the results variables The empirical analysis shows that utilitarian value and hedonic value have no direct significant impact on customer loyalty Customer satisfaction and customer trust are the basis and key factor of affecting customer loyalty and they are also the intermediary variables of explaining utilitarian value and hedonic value affecting customer loyalty Utilitarian value has a direct impact on customer satisfaction, and thus affects customer trust and ultimately customer loyalty, but has no direct significant impact on customer trust In contrast, hedonic value has direct significant impact on customer trust, and thus affects customer loyalty, but has no direct significant impact on customer satisfaction Customer satisfaction is the antecedent variables of customer trust

Key words: utilitarian value, hedonic value, customer satisfaction, customer trust, customer loyalty