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This paper aims to test a nomological network of the precursors (perceived price, price fairness, and service quality) and the multi-dimensional outcomes (economic satisfaction and non-economic satisfaction; behavioral and attitudinal loyalty) of micro-enterprise customers' perception of value. Structural equation modeling was used to test a research model and two rival models from data collected from 381 micro-enterprise banking customers. The results show that, by charging fair prices, banks will increase not only micro-enterprises' positive perceptions of price and service quality, but also their perceptions of value. Positive value perceptions result in greater economic and non-economic satisfaction. This then results in loyalty in both the attitudinal and behavioral senses. Economic satisfaction should first be attained before micro-enterprise customers will be non-economically satisfied and show attitudinal loyalty before behavioral loyalty. [ABSTRACT FROM AUTHOR]

The purpose of this paper is to position economic and non-economic satisfaction as outcomes of micro-enterprises' perception of value, and to determine the antecedents of perceived value within the business banking industry. The study is based on a self-administered and internet-based questionnaire conducted in the South African business banking industry. The sample consists of 381 micro-enterprises that employ one or two staff members. The results reveal that economic satisfaction and non-economic satisfaction are influenced by customers' perceived value, and that price fairness influences perceived value through the mediating effects of perceived price and service quality. Significant relationships were also found between perceived price and economic satisfaction, and between economic satisfaction and non-economic satisfaction. Drawing on social exchange theory, this research adds to the existing literature by exploring price fairness in business customers' perception of value, and their subsequent satisfaction judgments – specifically economic and non-economic satisfaction. The study offers banking executives insight into factors that influence micro-enterprises' perception of value, and the consequences of higher perceived value in terms of their economic and non-economic satisfaction levels. Micro-enterprises are an under-researched target group in the areas of price, quality, value, and satisfaction within the business banking industry. The study further contributes to theory by being among the first to posit economic and non-economic satisfaction as dual outcomes of perceived value. [ABSTRACT FROM AUTHOR]

Purpose The purpose of this paper is to test perceived price and service quality as mediators between price fairness and perceived value in service encounters between micro-enterprises and their banks.Design/methodology/approach The study is based on a self-administered and internet-based questionnaire conducted in the banking industry. The sample consists of 381 micro-enterprises in South Africa that employ one or two staff members.Findings The findings of this paper provide evidence for both theory and practice that perceived price and service quality influence the relationship between business banking customers' perception of price fairness and the value of the service offered.Research limitations/implications The measurement and structural properties reported are satisfactory. This paper confirms the hypothesized relationships in the tested research model, and rejects a tested rival model. Limitations are reported, and suggestions for further research are provided.Practical implications This paper offers banking executives guidance in managing the pricing structure of their services, and highlights the value of offering greater transparency with regards to service charges and interest rates.Originality/value This paper contributes to insights into the mediating effects of perceived price and service quality between price fairness and perceived value in business relationships between micro-enterprises and their banks. [ABSTRACT FROM AUTHOR]