Empirical Research On Influencing Factors Of Share Of Wallet In The B2B Market

With the rapid development of market economy, the market environment hasundergone tremendous changes, mainly reflected in two trends: Supply exceedsdemand and Product homogeneity, thus lead to increasing competition amongenterprises. Existing market share battle has been unable to meet changing marketrequirements, companies blindly pursue market share, results of customer churn rateincreased, corporate profits also will continue to decline. Theory Scholars andEnterprises began question the marketing model based on market share. A newmanagement idea-customer equity theory has been proposed, this idea response to theessential requirements of economy and society to enterprises: customer-oriented, tocreate value for customers. The domestic and foreign research suggests that share ofwallet has become an important variable of the customer equity measurement model.Enterprises have been to make a great change on the market share battle to the share ofwallet. So how to meet customer needs and increase the amount of consumption ofchoosing a product or service, is becoming the key issues of theorists and business.Therefore, this paper will study on the influencing factors of share of wallet, identifythe key influencing factors of the wallet share through empirical research.Access to domestic and international studies on influencing factors of share ofwallet, we found that some foreign scholars have analyzed a single or a few factors thatimpact on the share of wallet, but focused on B2C businesses; Compared with B2Cbusiness, B2B business customers relative less but buying in large quantities, havesmaller demand elasticity, put fewer emotional factors into and their transactions aremore stable, the above characteristics are more conducive to accurate measurement ofthe value of customer equity. Therefore, this paper will do empirical research oninfluencing factors of share of wallet in B2B business. Firstly, In this paper, existingstudies about influencing factors of share of wallet are collated and analyzed,combined with the B2B market characteristics, the relationship between the share ofwallet and7influencing variables(the perceived quality, perceived price, customersatisfaction, relationship quality, transaction time, Alternative relations selectivity andswitching cost) were mainly analyzed. We built a theoretical model of influencing factors of share of wallet in B2B business and proposed the research hypotheses.Secondly, this paper made B2B business staff survey, and conducted the descriptiveanalysis, reliability and validity analysis, SEM and variance analysis through Spss18.0software, as to verify the theoretical models and hypotheses. Validation results showthat: the largest direct path coefficients is customer satisfaction on the share of wallet,followed by the perceived quality, perceived price and relationship quality, andtransaction time, selectivity can be substitutes and conversion cost share haverelatively smaller effet on the share of wallet. Therefore, when B2B business choosethe suppliers, perceived quality, perceived price, customer satisfaction and relationshipquality should be the key consideration.This paper innovation points: First: The paper establishes a complex theoreticalmodel of influencing factors of share of wallet in B2B business and proposed theresearch hypotheses. Secondly, this paper the empirical research on the survey data ofB2B enterprises were analysed by the structural equation model, and the relationshipbetween the wallet of share and7influencing variables (the perceived quality,perceived price, customer satisfaction, relationship quality, transaction time,Alternative relations selectivity and switching cost) were analyzed, and provide atheoretical reference for the future establishment of a reasonable predictive model ofshare of wallet.