The Conceptualisation and Measurement of Consumer Value in Services

Abstract

Consumer value has been widely recognised as a key factor in organisational management, marketing strategy and consumer behaviour. However, because of the scattered and non-conclusive pattern of research on this concept, no single conceptualisation or measurement has won universal acceptance. The present paper develops an approach to understanding and measuring consumer value in a service context. The psychometric properties of the resulting indices support the multidimensional structure of the value concept. Hence, through both theoretical and managerial implications, this study suggests directions for further empirical research on this important topic.

Customer experience quality: an exploration in business and consumer contexts using repertory grid technique

“…In Fig. 1 we therefore include a delineation of value-in-use categories synthesized from value research (Chitturi et al 2008;Holbrook 2006;La et al 2009;Sanchez-Fernandez et al 2009;Sweeney and Soutar 2001). We will return to the issue of how value-inuse might be elicited at a finer-grained level in our suggestions for future research.…”

“…#112, Efficient use of customer's time). "Atmosphere," or the extent to which the company enables a pleasant and relaxing environment, relates to Tangibles, though again perhaps with more explicit indication of the importance of the service attribute in the customer's goal hierarchy, in this case to hedonic utility during the service encounter (Sanchez-Fernandez et al 2009). "Personalization"-dealing with the customers in a personal way and adapting the offer to meet their needsbuilds on the two items of SERVQUAL that concern individualization and relates to much recent work on both personalized dialogue (Homburg et al 2009;StuartMenteth et al 2006) and customization of the core product/service (Rust and Thompson 2006).…”

The Effects of Technology Readiness on Customer Perceived Value: An Empirical Analysis

“…Some significant implications for both scholars and practitioners emerge from our findings. First, CPV is the key determinant in consumer behavior, marketing strategy, and organizational management (Sánchez-Fernández et al 2009). To the best of our knowledge, the present study is the first to examine the relationship between TR and CPV.…”

“…Future studies should include some aspects of CPV that are more difficult to manipulate such as esteem, ethics, and spirituality (Sánchez-Fernández et al 2009). …”

“…However, confusion about the nature of this construct has also been generated because of the absence of a universally accepted conceptualization and measurement (Sánchez-Fernández et al 2009). …”