Track: Business Management

Abstract

Organizations invest considerable resources on consumer acquisition. Therefore, retention of these consumers becomes crucial for them to build their market presence. Consumer switching between competing products that provide standardized services may occur where consumers’ personal traits and psychological perceptions play the major role of switching intention rather than the service attributes. In order to counteract this behavior, it is imperative that organizations understand the switching intentions of consumers. Therefore, there is a need of an accurate model to assess switching behavior. Although several studies have used different models (i.e. Push-Pull-Mooring migration model) and theories (i.e. Theory of Planned Behavior, Prospect Theory) to analyze switching behavior they have not fully explained why switching takes place. Use of personality traits to explain the gaps are limited. Following a systematic review of the literature, the psychological approach of theory of planned behavior and the Five-factor model of personality was used to develop a conceptual model to assess switching behavior. The model has been validated through expert opinion.