The purpose of this study is to examine musical audience's experience of perceiving values of musical works through musical components to identify the audience's satisfaction and repurchase intention especially in Korean creative musical settings. Although there are a lot of studies on Korean musica...
The purpose of this study is to examine musical audience's experience of perceiving values of musical works through musical components to identify the audience's satisfaction and repurchase intention especially in Korean creative musical settings. Although there are a lot of studies on Korean musical field, but most of them focused on classifying audiences according to the market segmentation, visiting motivation or lifestyle. As repurchase intention is acknowledge as driving profitability and sustainability, it is essential that we understand its role and its relationship to both subjective attributes and utilitarian aspects. Since no academic work has been conducted in the Korean creative musical field specific to repurchase intention, our exploratory study on repurchase intention can identify the key drivers of repurchase.
To achieve this objective, we applied cognitive equation model for audience's repurchase intention to test the hypothesis. Specifically this model divided into the musical components, perceived value, audience's satisfaction and repurchase intention based on previous researches focusing on the audiences' repurchase decision making process in creative musical field.
Musical components have been cited in recent research to describe audience's characters or types, but never used to analyze how they can improve musical works' value and make the audience to revisit. Since little empirical research has been implemented in Korean creative musical field to perceived value audience satisfaction and repurchase intention, this exploratory study used 5 kinds of musical attributes including musical's basic information factor, production and casting factor, physical environment factor, ticket and other cost factor and external ground factor to identify the key drivers of audience's perceived value. Also we adopted multi-dimensional approach to creative musical work's perceived value divided into the 4 kinds of value such as social, emotional, functional value and economic(monetary/utilitarian) value. According to our equation model and hypotheses, we conduced our research to identify the correlations among perceived value, audience satisfaction and repurchase intention.
As a result, we found that the musical basic information factor has a positive effect on the emotional value and the production and casting factor has a positive effect on functional and social value. Physical environment factor influenced on all kinds of the perceived value except social value and the highest correlation was between the physical environment factor and economic value. Ticket and other cost factor had an effect on economic value and external ground factor was directly related to social and economic value. Also emotional and economic value can be the positive drivers of audience's satisfaction and there was a correlation between satisfaction and repurchase intention.
According to casual relationships investigated in our statistic results we suggest some theoretical implications. First, we confirm that there are 5 different kinds of musical attributes such as musical's basic information factor, production and casting factor, physical environment factor, ticket and other cost factor and external ground factor. Since creative musical works is experience goods, audiences can consider not only musical works itself but also ticket reservation process, staff services, physical environment including arts hall, seats, stages, amenities and technical aspects when evaluating value. Also all musical attributes contribute to improve creative musical work's perceived value meaning that audiences rely on the different kinds of musical attributes when evaluating value.
Second, perceived value has an effect on audience's satisfaction in our repurchase decision process. In other words, audiences finally feel the sense of satisfaction through psychological evaluating value process. According to our empirical analysis, emotional and economic value play a direct role in determining satisfaction. Especially economic value has a greater effect with satisfaction than emotional value. From this result, we can understand that audiences tend to evaluate musical work's economic value comprehensively by calculating and comparing what I cost and I gain from all experiential consumption points regarding creative musical works.
Third, there is a statistically significant relationship between satisfaction and intention to repurchase. It means audience's satisfaction causes a motivation to see another creative works and once satisfied audiences can transform into loyal audiences by repeating their musical experience. Since repurchase intention is a strong will to purchase musical works again or to experience creative musicals gain in the near future, audience satisfaction is a vital prerequisite for expanding audience's returns.
Based on theoretical implications, we also suggest important managerial implications for practitioners in musical field. First, people in Korean creative musical field always try to provide the musical works with desirable quality that audience can trust. From our research, production and casting factor has a relatively little correlation with social and functional value. Of course a few musical actors having much big ticket power can induce audiences into the theater. But most of audiences do not decide to see a musical works because of cast's appearance or ticket power but the quality of works, the degree of completion, expression, creativity and so on. Thus it requires that actors who are featured in creative musical works can understand the work very well and show great performance with singing and acting ability accumulated by a long experience.
Second, we make sure that physical circumstance such as a venue itself, stages, seats, the lobby, staff service, technical specifications and convenience facilities is also an important factor. Especially physical environment factor has a high correlation with economic value. That means audiences want to see more spectacle and wonderful creative musicals in more convenient, comfort and pleasant circumstance and tend to evaluate musical works comprehensively through a long consumption experience.
Third, it is proved that audiences highly tend to calculate economic value with a ticket price and other costs related to musical performance experience. So marketers should keep in mind that audiences can be sensitive to the amount of ticket price that they have to pay for seeing a musical performance. If a ticket price of a certain creative musical work is so much higher than other musical works, buyers might percept price unfairness even if that musical has a good quality and completeness. In this situation, it is possible that some audiences finally give up to buy that musical works due to price-disadvantage.
In conclusion, based on our academic and managerial findings in present research we suggest that productions and manager in creative musical field should try to make the circumstance where the audience can be voluntarily motivated to watch Korean creative musicals in order to induce audience's continuous satisfaction and repurchase intention. in other words the stronger audience's motivation is, the higher audience's need for musical performance experience is. Thus, we should regard the audience not as a simple prosumer but as a pivotal figure who makes more creative musical's value and proves the existence of its true value.
But this study has some limitations. First, the extent to which our findings may be extended to all Korean creative musical works remains to be explored. Since data used in our analysis were gather from personal survey is conducted in one creative musical work, 'The Devil', it might have a few difficulty to make a generalization about this sample. Thus, we need to figure out whether the resulting scale will apply equally in other creative musicals.
Second, five musical factors that we used in our research could be changed. We decide to use the 4 kinds of perceived value based on the previous research. But it is possible that some factors can be modified or eliminated due to the change in the nature of audiences and their ways of consumption or communication in a long-term period.
Third, this study is cross sectional research in short period of time with limited sample. So, it is suggest that in further research we need to examine whether there is audience's perceptions of satisfaction and repurchase intention over time as a result of increased the quality of creative musical works or improvement of the performance stage, seats, venues and other services. circumstances.
This research presents cognitive frameworks for thinking about audience's perceived value, audience satisfaction and repurchase intention and we suggest some academic and managerial implications that help productions and managers to create and implement loyal audience revisiting strategies. We hope a variety of factors and findings proven in this research are useful to marketers to improve the quality of creative musicals and audience's musical experiences and also to make audiences motivated to repeat their purchase of creative musicals.
The purpose of this study is to examine musical audience's experience of perceiving values of musical works through musical components to identify the audience's satisfaction and repurchase intention especially in Korean creative musical settings. Although there are a lot of studies on Korean musical field, but most of them focused on classifying audiences according to the market segmentation, visiting motivation or lifestyle. As repurchase intention is acknowledge as driving profitability and sustainability, it is essential that we understand its role and its relationship to both subjective attributes and utilitarian aspects. Since no academic work has been conducted in the Korean creative musical field specific to repurchase intention, our exploratory study on repurchase intention can identify the key drivers of repurchase.
To achieve this objective, we applied cognitive equation model for audience's repurchase intention to test the hypothesis. Specifically this model divided into the musical components, perceived value, audience's satisfaction and repurchase intention based on previous researches focusing on the audiences' repurchase decision making process in creative musical field.
Musical components have been cited in recent research to describe audience's characters or types, but never used to analyze how they can improve musical works' value and make the audience to revisit. Since little empirical research has been implemented in Korean creative musical field to perceived value audience satisfaction and repurchase intention, this exploratory study used 5 kinds of musical attributes including musical's basic information factor, production and casting factor, physical environment factor, ticket and other cost factor and external ground factor to identify the key drivers of audience's perceived value. Also we adopted multi-dimensional approach to creative musical work's perceived value divided into the 4 kinds of value such as social, emotional, functional value and economic(monetary/utilitarian) value. According to our equation model and hypotheses, we conduced our research to identify the correlations among perceived value, audience satisfaction and repurchase intention.
As a result, we found that the musical basic information factor has a positive effect on the emotional value and the production and casting factor has a positive effect on functional and social value. Physical environment factor influenced on all kinds of the perceived value except social value and the highest correlation was between the physical environment factor and economic value. Ticket and other cost factor had an effect on economic value and external ground factor was directly related to social and economic value. Also emotional and economic value can be the positive drivers of audience's satisfaction and there was a correlation between satisfaction and repurchase intention.
According to casual relationships investigated in our statistic results we suggest some theoretical implications. First, we confirm that there are 5 different kinds of musical attributes such as musical's basic information factor, production and casting factor, physical environment factor, ticket and other cost factor and external ground factor. Since creative musical works is experience goods, audiences can consider not only musical works itself but also ticket reservation process, staff services, physical environment including arts hall, seats, stages, amenities and technical aspects when evaluating value. Also all musical attributes contribute to improve creative musical work's perceived value meaning that audiences rely on the different kinds of musical attributes when evaluating value.
Second, perceived value has an effect on audience's satisfaction in our repurchase decision process. In other words, audiences finally feel the sense of satisfaction through psychological evaluating value process. According to our empirical analysis, emotional and economic value play a direct role in determining satisfaction. Especially economic value has a greater effect with satisfaction than emotional value. From this result, we can understand that audiences tend to evaluate musical work's economic value comprehensively by calculating and comparing what I cost and I gain from all experiential consumption points regarding creative musical works.
Third, there is a statistically significant relationship between satisfaction and intention to repurchase. It means audience's satisfaction causes a motivation to see another creative works and once satisfied audiences can transform into loyal audiences by repeating their musical experience. Since repurchase intention is a strong will to purchase musical works again or to experience creative musicals gain in the near future, audience satisfaction is a vital prerequisite for expanding audience's returns.
Based on theoretical implications, we also suggest important managerial implications for practitioners in musical field. First, people in Korean creative musical field always try to provide the musical works with desirable quality that audience can trust. From our research, production and casting factor has a relatively little correlation with social and functional value. Of course a few musical actors having much big ticket power can induce audiences into the theater. But most of audiences do not decide to see a musical works because of cast's appearance or ticket power but the quality of works, the degree of completion, expression, creativity and so on. Thus it requires that actors who are featured in creative musical works can understand the work very well and show great performance with singing and acting ability accumulated by a long experience.
Second, we make sure that physical circumstance such as a venue itself, stages, seats, the lobby, staff service, technical specifications and convenience facilities is also an important factor. Especially physical environment factor has a high correlation with economic value. That means audiences want to see more spectacle and wonderful creative musicals in more convenient, comfort and pleasant circumstance and tend to evaluate musical works comprehensively through a long consumption experience.
Third, it is proved that audiences highly tend to calculate economic value with a ticket price and other costs related to musical performance experience. So marketers should keep in mind that audiences can be sensitive to the amount of ticket price that they have to pay for seeing a musical performance. If a ticket price of a certain creative musical work is so much higher than other musical works, buyers might percept price unfairness even if that musical has a good quality and completeness. In this situation, it is possible that some audiences finally give up to buy that musical works due to price-disadvantage.
In conclusion, based on our academic and managerial findings in present research we suggest that productions and manager in creative musical field should try to make the circumstance where the audience can be voluntarily motivated to watch Korean creative musicals in order to induce audience's continuous satisfaction and repurchase intention. in other words the stronger audience's motivation is, the higher audience's need for musical performance experience is. Thus, we should regard the audience not as a simple prosumer but as a pivotal figure who makes more creative musical's value and proves the existence of its true value.
But this study has some limitations. First, the extent to which our findings may be extended to all Korean creative musical works remains to be explored. Since data used in our analysis were gather from personal survey is conducted in one creative musical work, 'The Devil', it might have a few difficulty to make a generalization about this sample. Thus, we need to figure out whether the resulting scale will apply equally in other creative musicals.
Second, five musical factors that we used in our research could be changed. We decide to use the 4 kinds of perceived value based on the previous research. But it is possible that some factors can be modified or eliminated due to the change in the nature of audiences and their ways of consumption or communication in a long-term period.
Third, this study is cross sectional research in short period of time with limited sample. So, it is suggest that in further research we need to examine whether there is audience's perceptions of satisfaction and repurchase intention over time as a result of increased the quality of creative musical works or improvement of the performance stage, seats, venues and other services. circumstances.
This research presents cognitive frameworks for thinking about audience's perceived value, audience satisfaction and repurchase intention and we suggest some academic and managerial implications that help productions and managers to create and implement loyal audience revisiting strategies. We hope a variety of factors and findings proven in this research are useful to marketers to improve the quality of creative musicals and audience's musical experiences and also to make audiences motivated to repeat their purchase of creative musicals.
주제어
#뮤지컬 창작 재구매 Repurchase Musical Audience Korean creative musical Musical attributes Perceived value Satisfaction Repurchase intention
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