Consumer Perceptions Of Value Research Articles

Consumer value dimensions for sustainable wood products: results from the Finnish retail sector

Our study focuses on exploring on the dimensionality of sustainability in perceived consumer value regarding wooden products in the Finnish context. Factors affecting consumer value on sustainability were derived from the literature on sustainable consumption and tested on a specific case of wooden terrace products through a developed survey instrument. The dimensions of sustainability-based consumer value were identified using a factor analysis on data consisting of 208 responses collected in the home and building material retail sector in May–June 2013. Four-dimensional structure for consumer value concerning sustainable and responsible wooden products is identified to consist of “Information and product origin,” “Consumer activity,” “Product image,” and “Quality.” The first two, sustainability-related factors were more strongly valued by elderly as well as by female respondents, while “Quality” and “Image” were more preferred by young and middle-aged respondent groups. As for the conclusion, our results suggest that improving the sustainability information content, launching awareness campaigns and environmental education as well as applying greenness as a complementary product attribute would be some of the solutions to attract larger consumer groups.

The Effect of Corporate Social Responsibility on Purchasing Intention: The Mediating Role of Perceived Consumption Values and the Moderating Role of Ethical Consumption Tendency

The Effect of Corporate Social Responsibility on Purchasing Intention: The Mediating Role of Perceived Consumption Values and the Moderating Role of Ethical Consumption Tendency

Critical decisions in new product launch: pricing and advertising strategies on consumer adoption of green product innovation

Before launching a new product, product managers must determine an appropriate marketing strategy. Pricing and advertising strategies are major tools that firms employ to persuade consumers to accept product innovation. Scholars have discussed the significance of pricing and advertising strategies for consumer decision behaviour. According to range theory, people use the range of recalled price experiences to set a lower and upper bound of price expectations, and the attractiveness of a market price is a function of its relative location within this range. Previous research indicates that the pioneer brand's initial price defines consumers' initial reference price, regardless of whether the pioneer brand employs a skimming or penetration strategy. Therefore, this study examined the effects that pricing strategies (i.e. market-skimming pricing vs. market-penetration pricing) and advertising strategies (functional advertisement vs. emotional advertisement) have on consumer-perceived quality, perceived risk, perceived value, and adoption in the context of green product innovation. We proposed a conceptual model comprising 8 hypotheses and adopted a 2 × 2 experimental research design, using a structured questionnaire to collect field data for testing the proposed hypotheses. The results showed that a market-penetration pricing strategy reduces consumer financial risk and increases consumer-perceived value, ultimately increases consumer purchase intention of product innovation. A functional advertisement seems to be more efficient than an emotional advertisement in influencing consumer adoption of product innovation. The results provide theoretical insights into product innovation and management implications for new product providers.

Consumer perceptions of service constellations: implications for service innovation

PurposeThe purpose of this paper is to investigate how the service constellation perspective affects innovation strategies and potentially contributes to the innovation literature, proposing a research agenda.Design/methodology/approachBy analyzing the notion of a service constellation, the authors provide an overview of major implications for service innovation research and practice.FindingsFirms and service innovation researchers need to focus on the perceived consumer value of the constellation rather than on individual services. The authors illustrate how service innovation from the constellation perspective requires coordination and synchronization between projects and different approaches to portfolio management and screening.Originality/valueAdoption of the service constellation perspective creates new opportunities.

The effects of contingency factors on perceived values of casual sportswear

PurposeThe purpose of this paper is to propose and empirically examine a consumer perceived value (CPV) formation model in the context of the US casual sportswear market. The effects of investigated contingency factors on perceived values are empirically determined.Design/methodology/approachCPV was measured by four dimensions: price, quality, social and emotional values. The investigated contingency factors included gender, age, race, income level, and retailer type. The primary data were gathered by a nation‐wide survey of US consumers and the applied statistical techniques were exploratory factor analysis, confirmatory factor analysis, and multiple regression analysis.FindingsThe statistical analysis of 4,949 eligible survey responses shows that four value dimensions accounted for 77 percent of CPV variance. For the effects of contingency factors, race did not significantly affect the formation of any perceived values. In contrast, gender, income level, and retailer type significantly affected perceived price and emotional values, while perceived quality value was significantly affected by all contingency factors except race, and perceived social value was only significantly affected by age and income level.Practical implicationsIncorporation of gender, income level, and retailer type information in developing marketing strategies can help companies more effectively convey price and emotional values to consumers. In contrast, information relating to gender, age, income level, and retailer type should be considered in marketing quality value to consumers, while age and income level information is more critical for properly marketing social value to consumers.Originality/valueCompanies need to know, more than ever, about how consumers are redefining their values, as the current economic crisis has dramatically changed consumer preference. This study responded to this emerging need and provided timely empirical evidence.

Utilitarian and hedonic perceptions of short message service mobile marketing

This study investigates the utilitarian and hedonic consumer value perceptions of mobile marketing based on the short message service SMS and examines the moderating effect of situational involvement. The study uses service-dominant logic as the conceptual framework and employs a 2 controllability × 2 message type × 2 situational involvement between-subjects factorial design. The findings indicate significant main effects of controllability on both utilitarian and hedonic perceptions and the type of message only on utilitarian perceptions. Situational involvement had a significant. Moreover, the results show significant moderating role of situational involvement with controllability and a three-way effect of factors on both perceived utilitarian and hedonic perceptions.

Electronic Service Quality and Value

Electronic service quality (ESQ) is essential for explaining consumer value perceptions in B2C e-commerce contexts. However, we argue that focusing too narrowly on ESQ without considering consumer knowledge-related resources could lead managers to devise myopic strategies. Our research is inspired by, and intends to contribute to, service-dominant logic, service logic, and service science. These perspectives suggest that firms and consumers cocreate value by integrating their resources. However, the literature in these areas relies on conceptual development, and further empirical research is needed. The empirical study reported here is the first cross-sectional test that confers similar salience to both consumer resources, in the form of consumer expertise (and its antecedents), and firm resources, as represented by ESQ (and its antecedents), to explain value perception in a B2C e-commerce context. We provide evidence that both consumer expertise and ESQ directly and positively affect value perception, the magnitude of the effect of consumer expertise (ESQ) on value perception being smaller as ESQ (consumer expertise) increases, and vice versa. Our results offer interesting insights for designing successful e-commerce strategies. For instance, the negative interaction effect we found suggests that consumer expertise and ESQ behave as substitutes to some extent. Therefore, firms might reduce the expert/nonexpert value gap by incorporating in their websites tools addressed to palliate nonexperts’ disadvantages, or by upgrading these tools when available. Thus, recommender systems might be upgraded using information derived from experts’ e-buying behavior and opinions, instead of considering only overall data from consumers with a similar taste profile.

The influence of value perceptions on luxury purchase intentions in developed and emerging markets

Purpose – Despite the growing debate about differences in consumer attitudes and behavior in emerging and developed markets, there is little research on the differences in consumer value perceptions and their influence on purchase intentions. Focusing on the theory of impression management, the purpose of this paper is to introduce a conceptual framework incorporating the social (conspicuousness and status), personal (hedonism and materialism) and functional (uniqueness and price‐quality perceptions) value perceptions using the context of luxury goods.Design/methodology/approach – Data were collected through a structured questionnaire‐ based study of consumers in four countries, representing two leading Western developed luxury markets (the US and the UK) and two important Eastern emerging markets (India and Malaysia). Multiple‐group SEM analysis was used to analyze the data.Findings – The findings show several differences in the influence of value perceptions on consumer purchase intentions in the Wester...

Consumer Perceived Value and Brand Loyalty

Consumer Perceived Value (CPV) perceived to have been derived from the consumption of product or service is the Value that a consumer believes that he receives for a certain amount of money. This study was conceptualized so as to understand the most important CPV dimensions and its role in predicting Attitudinal Brand Loyalty in pre purchase situations in the Indian Retail Banking context on the basis of SPERVAL (Services Perceived Value) Scale. The empirical study was based on descriptive research design (cross-sectional) and used questionnaire as the key research instrument. The questionnaire was administered to 100 respondents using a mix of judgmental and convenience non-probability sampling methods. The most important CPV dimensions, which were also the major predictors towards attitudinal brand loyalty in the context of Indian retail banking, were Functional Value, Economic Value, After Sale Value and Epistemic Value. The study has implications for retail banking marketers and can help them understand the consumer psychology behind evaluating the product offering. The service providers can also use the findings from the research to build on their competitive advantage by developing core competencies in strategic arenas. The limitations of the study included limited coverage with respect to sample size.

La creación de valor en servicios: una aproximación a las dimensiones utilitarista y hedonista en el ámbito de la restauración

Consumer-perceived value is a topic of growing interest to marketing managers and researchers because of the important role it plays in achieving a sustainable competitive advantage. Despite this relevance, only few studies have tried to analyze the effectiveness of the value creating strategies for an organization. Based on this objective, and considering both utilitarian and hedonic factors of shopping value, the current paper aims to offer a strategic orientation about how to use the attributes that generate value in the retailing consumption experience, analyzing their contribution to the formation of consumer satisfaction and loyalty.

Consumer perceived value

Purpose – The purpose of this paper is to analyze the dimensionality of the consumer perceived value (CPV) concept, development of a CPV scale and its measurement in the Indian healthcare sector.Design/methodology/approach – The data on consumer perceived value are gathered from 515 inpatients. The scale development is performed through exploratory factor analysis, reliability and validity analysis, and confirmatory analysis.Findings – CPV scale in healthcare sector is a multidimensional scale represented by 27 items spread over six dimensions that are significant for consumer value measurement. The dimensions include acquisition value (AV), transaction value (TV), efficiency value (EV), aesthetic value (ESV), social interaction value (SI) and self gratification value (SG).Research limitations/implications – The study is theoretically limited to value and its antecedents. Research work on relationship of consumer perceived value with service quality, customer relationship management, internal marketing or...

Consumers' value perceptions across retail outlets: shopping at mass merchandisers and department stores

Today value is considered a key hallmark of US shoppers. Although research has examined consumer perceived value (CPV) in the context of shopping in general, this study provides specifics about CPV in the context of consumers’ shopping experiences in two dominant retail outlets – mass merchandisers and department stores – where value provision and value seeking may be shifting. Using Dewey's (1939. Theory of valuation. In International encyclopedia of Unified Science, ed.O. Neurath, R. Carnap, and C. Morris, Vol. 2, 1–67. Chicago: The University of Chicago Press.) value theory as a framework and conducting both qualitative and quantitative analyses, the research identified, validated, and tested nine value dimensions sought by consumers when shopping in mass merchandisers and department stores: acquisition, transaction, efficiency, choice, exploration, esthetic, self-gratification, social interaction, and social status value. The study findings suggested that mass merchandisers may want to be careful in moving too far from their historic value proposition of low price and convenient shopping, while department stores may want to improve their provision of the exchange values currently so important to consumers, while finding new, creative ways to provide their historic value offerings of service and entertainment.

Linking perceived value of mobile marketing with the experiential consumption of mobile phones

PurposeThis study seeks to examine the nature of consumers' perceptions of the value they derive from the everyday experiential consumption of mobile phones and how mobile marketing (m‐marketing) can potentially enhance these value perceptions.Design/methodology/approachQ methodology is used with a framework of experiential consumption and perceived consumer value, to examine how consumers' subjective perceptions and opinions of the two areas of interest are shared at a collective level. A total of 40 participants undertook two Q sorts and the data were analysed using PQ‐method.FindingsThe first Q sort identified three clusters of perceived value: the Mobile Pragmatists, the Mobile Connectors and the Mobile Revellers. The second Q sort identified two clusters of perceived value of m‐marketing: one emerging from the shared opinions of the Mobile Pragmatists and the Mobile Connectors, and the second from the Mobile Revellers.Research limitations/implicationsThe findings show how consumers can be segmented based on their contextualised perceived value of consuming mobile phones. The findings also show that m‐marketing can be tailored to enhance these value perceptions. The study demonstrates how to use Q methodology to examine subjective areas of consumer behaviour. Limitations relate to deriving statements for the Q sorts and the generalisability of the results.Practical implicationsThe findings highlight ways to tailor m‐marketing strategies to complement consumers' perceptions of the value offered through their mobile phones.Originality/valueThe study contributes to existing theory and practice through using Q methodology to examine two subjective areas of consumer behaviour research: experiential consumption in everyday life and consumer perceived value, which is applied in the context of mobile phones and m‐marketing.

Sustainable value chain analysis – a case study of Oxford Landing from “vine to dine”

PurposeThe paper shows how sustainable value chain analysis (SVCA) can be used as a diagnostic tool to identify misalignment between resource allocation and consumer preferences, using a case study of the Oxford Landing wine chain, from South Australia to the UK.Design/methodology/approachThe study incorporates a combination of value chain analysis (VCA) and life cycle analysis (LCA) in a single methodology to determine which activities, at each stage in the supply chain, create value (in the eyes of consumers) and the contribution of these activities to greenhouse gas emissions.FindingsThe case study demonstrates the value of comparing the consumer value associated with a particular activity with the emissions associated with that activity, as this draws the attention of managers, at each stage of the supply chain, to the potential trade‐offs that exist and the danger of focusing on either one (adding value or reducing emissions) in isolation.Research limitations/implicationsThe main limitation of the research methodology is that the study focuses on a single product (Oxford Landing) and a single chain to a single country (UK). Thus, it is difficult to generalise from the results of this single case study to the (South Australian) wine industry in general, without further information from other wineries and consumer perceptions of their brands in different parts of the world.Practical implicationsThe case study highlights the importance of taking a holistic view when considering the sustainability of a product, process or chain – trade‐offs between environmental benefits and consumer perceptions of value can have significant commercial implications. It also illustrates the potential for SVCA to be used as a guide for the allocation of research and development expenditure (public and private) in pursuit of sustainable competitive advantage.Originality/valueThe study is the first to combine LCA with VCA in a context that allows researchers, practitioners and policymakers to identify areas for improvement, in what they do and how they do it.

Development of a ‘Consumer Perceived Value Scale’ (SPERVAL Scale) in the Context of Services Industry

Consumer Perceived Value (CPV) is the value derived from the consumption of a product or service. It is perception based and situational. It is said that ‘Value’ lies in the eyes of the beholder. This appreciation conceives CPV as a dynamic variable. This research paper substantiates the CPV construct by understanding the theoretical underpinnings, followed by constructing a scale based on empirical generalizations in the Fine Dining Services Industry context. The multidimensional SPERVAL (Services Perceived Value) scale so generated as a result of the blend of qualitative and quantitative research helps identify ‘Value Indicators’. The SPREVAL scale targets to analyze the consumer’s perceptions towards various dimensions and drivers of the construct. The SPERVAL scale has a variety of potential applications and can serve as a framework for further empirical research in this inevitable area.

Consumption values: scale development and validation

Purpose – The purpose of this paper is to build on the Consumer Perceived Value (CPV) phenomenon by theoretically defining and empirically developing a Services Perceived Value Scale (SPERVAL) in the context of services industry.

The effects assessment of firm environmental strategy and customer environmental conscious on green product development

The purpose of this study is to examine why both parties (industry and consumer market) have mutual interests in protecting the environment but they still are hesitant to act green. The study used two-stage sampling from consumer market to depict ideal green product characteristics and reliable toy companies, and visit these companies for the second sample collection to examine whether the organizational eco-innovation strategy with customer value has a positive effect on green product development. In other words, the customer's benefit is an important factor for new product development strategy for green toys. This research shows that the willingness to buy green toys increases if most people in society buy green toys. This represents that customers are environmentally conscious and care about protecting the environment, or buying green toys is the result of a new economic trend and childhood education. The willingness to buy green toys increases if customers think that green products implies an enhancement on new product development to toy manufacturers. Further, if manufacturers are able to manage the difficulty of cooperation with all parties in the supply chain and difficulties related to production, they are willing to adopt customers' perceived value on green toys for their new product development strategy. It is rare to find academic research discussing the perspectives of both consumers and manufacturers in the same study because the research topic is very broad and many conditions must be considered. This research aims to find the effect of consumer-perceived value and company eco-innovation on green product development.

Understanding consumer perceived value of casual sportswear: An empirical study

Value creation is the key for business to achieve a long-term success. Using a consumer perceived value (CPV) model consisting of four constructs— price value, quality value, social value, and emotional value, this study empirically assessed the CPV of casual sportswear in the U.S. market. Based on the primary data gathered by a nationwide survey, through exploratory and confirmatory factor analyses, the model was proven valid and the four constructs accounted for the most variance of CPV. Compared to social and emotional values, price showed the most influential impact on the overall CPV, while quality was also perceived as very important.

The effects of product scarcity and consumers' need for uniqueness on purchase intention

AbstractScarcity strategies are employed by marketers to influence consumer decision making. Many famous brands have been designed and produced for the purpose of as being marketed as limited‐edition products to intensify consumer desire and intention to purchase them. However, very few studies have simultaneously integrated relevant constructs to explain the phenomenon of scarcity purchasing. To fill this void, this study develops a comprehensive research model in order to fully understand how scarcity affects consumer value perception and purchase intention. Simultaneously, two competing models are developed to compare the explanation power of Lynn's Scarcity–Expensiveness–Desirability (S‐E‐D) model and Synde and Fromkin's desire for uniqueness model. The results suggest that the effects of scarcity on purchase intention through perceived uniqueness, perceived sacrifice and perceived value are stronger than the scarcity effects through assumed expensiveness, perceived quality, perceived sacrifice and perceived value.

Consumer Perceived Value and Consumer Loyalty in the Healthcare Sector

This study provides conceptual as well as empirical investigation of consumer perceived value (CPV) and consumer loyalty (CL) measures in the healthcare sector. It also offers an insight regarding the role of CPV in influencing CL. The data were collected from 515 hospitalised patients of 2 tertiary hospitals, namely the Government Medical College and Hospital (public) and Acharya Shri Chander College of Medical Sciences and Hospital (private) sector operating in Jammu, North India, from July 2009 to October 2009. Exploratory factor analysis and confirmatory factor analysis were used to analyse CPV and CL. The results suggest that CPV is a function of acquisition value, transaction value, efficiency value, aesthetic value, social interaction value, and self-gratification value. Similarly, CL is related to preference loyalty (i.e., using provider again for same services, using provider again for different services), recommending provider to others, price indifference loyalty, and dissatisfaction response. The study underscores significant dimensions of consumer value and CL and validates the relationship between value and loyalty in healthcare service sector. The CPV and CL instruments include important aspects of patients’ perceptions of healthcare services. The scales are psychometrically adequate and are recommended for evaluating patients’ experiences of the quality of healthcare services. The study is limited theoretically to assessing the relationship between CPV and CL. Their relationships with other measures, such as consumer experiences, quality, satisfaction, service dominant logic, and image, need to be assessed in further works.