Past progress and future directions in conceptualizing customer perceived value
International Journal of Service Industry Management
ISSN: 0956-4233
Article publication date: 1 September 2005
Abstract
Purpose
To propose an alternative model specification for better conceptualizing the definition of a customer perceived value construct, and to discuss the theoretical justification of the model.
Design/methodology/approach
The proposed model was elaborated based on theoretical contexts. Three models of different conceptualization specifications were estimated and compared with eTail service value survey data.
Findings
Based on theory, perceived value should be conceived as a formative construct. The empirical results demonstrated different parameter estimates and thus conclusions are drawn from different conceptualization methods.
Research limitations/implications
Future research is suggested to apply the proposed formative value model in other marketing settings, and to explore the role of consumer satisfaction in post‐purchase behavior.
Practical implications
Marketing resources allocation and communication programs may be influenced due to different conceptualization methods of value construct applied by practitioners.
Originality/value
This paper provides a theoretical rationale for conceptualizing perceived value with formative specification. It stresses that the theoretical justification is a major concern for determining conceptualization models.
Keywords
Citation
Lin, C., Sher, P.J. and Shih, H. (2005), "Past progress and future directions in conceptualizing customer perceived value", International Journal of Service Industry Management, Vol. 16 No. 4, pp. 318-336. https://doi.org/10.1108/09564230510613988
Publisher
:Emerald Group Publishing Limited
Copyright © 2005, Emerald Group Publishing Limited