DOI :10.24924/ijabm/2019.04/v7.iss1/58.71
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PERCEIVED VALUE OF SHOPPING MALL: ATTRACTIVENESS FACTOR OF SHOPPER'S EXPERIENCE AND A FRAMEWORK TO IMPROVE THEM

JP PEGGIE TAN

FTMS Global, Malaysia

Keywords: Perceived Value, Shopping Mall, Value Proposition, Shopper's Experience

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Abstract

Shopping mall industry in Malaysia especially in Klang Valley facing the issue of oversupply. According to Knight Frank research (2018), the recent completion of circa 1.40million sq.ft. has brings the net lettable area of retail space in Klang Valley's cumulative supply to 58.97million sq.ft. in 2H2018. Shopping mall's owners and operators need to continuously refresh and reinvent. Also, to embark on asset enhancement initiative (AEI) and creating new experience to stay relevant in the competitive environment. Hence, an effective value proposition is important and it needs to be distinct. This research applies academic models and framework to develop a value proposition of shopping mall. Herewith, Mid Valley Megamall is the shopping mall under study and comparing with the leading competitor in the market which is Sunway Pyramid Shopping Centre. The objectives of this paper including identification of customer's perceive value of shopping mall, critical evaluation of existing value proposition of Mid Valley Megamall with Sunway Pyramid Shopping Centre. Nevertheless, to identify gap and finally to propose a new value proposition for Mid Valley Megamall. Monroe (1990) and Holbrook's Typology Value (1999) Framework is using in elaborating customer's perceived value of shopping mall. Followed by using Piercy (2009) and Lawton (n.d) Model in differentiating and evaluating the existing value proposition of both shopping malls. Finally, a new value position proposal is recommended to Mid Valley Megamall in order to stimulate a competitive advantage among its competitors.

Reference

Abhik Roy (1994), "Correlates of Mall Visit Frequency," Journal of Retailing, 70 (2), 139-16



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