Abstract
This study investigates the customer’s perception of service value based on theory of personal values. A formative structural model is developed and tested using the data surveyed from three service industries in Vietnam. Results show a positive impact of service personal values on service value. Then, service value and satisfaction are proved as two mediating constructs in the impact of service personal values on customer loyalty. Satisfaction and loyalty are, thus, not only determined by the supplier’s service itself, but also the customer’s personal values. This consolidates the value co-creation perspective rather than the traditional value exchange in service research.
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