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Customer perceived value: a substitute for satisfaction in business markets?
TL;DR: In this paper, the authors investigated the relationship between customer satisfaction and customer value in a cross-sectional survey with purchasing managers in Germany and found that perceived value is mediated by satisfaction.
Abstract: In recent years, there has been a resurgence of interest in the value construct among both marketing researchers and practitioners. Despite a growing body of research, it is still not clear how value interacts with related marketing constructs. Researchers have called for an investigation of the interrelationship between customer satisfaction and customer value to reduce the ambiguities surrounding both concepts. Investigates whether customer value and satisfaction represent two theoretically and empirically distinct concepts. Also addresses whether value is a better predictor of behavioral outcomes than satisfaction in a business marketing context. Two alternative models are developed and empirically tested in a cross-sectional survey with purchasing managers in Germany. The first model suggests a direct impact of perceived value on the purchasing managers' intentions. In the second model, perceived value is mediated by satisfaction. This research suggests that value and satisfaction can be conceptualized and measured as two distinct, yet complementary constructs.
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TL;DR: The proposed model is proven with the effectiveness in explaining the relationships among service quality, perceived value, customer satisfaction, and post-purchase intention in mobile added-value services.
1,207 citations
TL;DR: It is confirmed that trust, perceived service quality, perceived customer value, including functional value and emotional value, contribute to generating customer satisfaction with MIM and that age, gender, and usage time have moderating effects.
1,000 citations
TL;DR: In this article, the authors proposed an integrated model that examines the impact of three elements of foodservice quality dimensions (physical environment, food, and service) on restaurant image, customer perceived value, customer satisfaction, and behavioral intentions.
Abstract: Purpose – The purpose of this study is to propose an integrated model that examines the impact of three elements of foodservice quality dimensions (physical environment, food, and service) on restaurant image, customer perceived value, customer satisfaction, and behavioral intentions.Design/methodology/approach – Data were collected from customers at an authentic upscale Chinese restaurant located in a Southeastern state in the USA via a self‐administered questionnaire. Anderson and Gerbing's two‐step approach was used to assess the measurement and structural models.Findings – Structural equation modeling shows that the quality of the physical environment, food, and service were significant determinants of restaurant image. Also, the quality of the physical environment and food were significant predictors of customer perceived value. The restaurant image was also found to be a significant antecedent of customer perceived value. In addition, the results reinforced that customer perceived value is indeed a ...
991 citations
TL;DR: The results indicated that customer loyalty was affected by perceived value, trust, habit, and customer satisfaction, with customer satisfaction playing a crucial intervening role in the relationship of perceived value and trust to loyalty.
975 citations
TL;DR: In this article, the influence of brand image and reputation on customers' perceptions of product and service quality, customer value, and customer loyalty in a business market where there are three manufacturers marketing their brands directly to a large number of small firms.
791 citations
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TL;DR: In this paper, the statistical tests used in the analysis of structural equation models with unobservable variables and measurement error are examined, and a drawback of the commonly applied chi square test, in additit...
Abstract: The statistical tests used in the analysis of structural equation models with unobservable variables and measurement error are examined. A drawback of the commonly applied chi square test, in addit...
56,555 citations
TL;DR: In this article, a new estimate minimum information theoretical criterion estimate (MAICE) is introduced for the purpose of statistical identification, which is free from the ambiguities inherent in the application of conventional hypothesis testing procedure.
Abstract: The history of the development of statistical hypothesis testing in time series analysis is reviewed briefly and it is pointed out that the hypothesis testing procedure is not adequately defined as the procedure for statistical model identification. The classical maximum likelihood estimation procedure is reviewed and a new estimate minimum information theoretical criterion (AIC) estimate (MAICE) which is designed for the purpose of statistical identification is introduced. When there are several competing models the MAICE is defined by the model and the maximum likelihood estimates of the parameters which give the minimum of AIC defined by AIC = (-2)log-(maximum likelihood) + 2(number of independently adjusted parameters within the model). MAICE provides a versatile procedure for statistical model identification which is free from the ambiguities inherent in the application of conventional hypothesis testing procedure. The practical utility of MAICE in time series analysis is demonstrated with some numerical examples.
47,133 citations
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01 Jun 1975
36,032 citations
Journal Article•
TL;DR: In this paper, the authors describe the development of a 22-item instrument (called SERVQUAL) for assessing customer perceptions of service quality in service and retailing organizations, and the procedures used in constructing and refining a multiple-item scale to measure the construct are described.
21,693 citations
TL;DR: A critical element in the evolution of a fundamental body of knowledge in marketing, as well as for improved marketing practice, is the development of better measures of the variables with which marketers deal with marketing as discussed by the authors.
Abstract: A critical element in the evolution of a fundamental body of knowledge in marketing, as well as for improved marketing practice, is the development of better measures of the variables with which ma...
14,727 citations