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Article

Eduardo Soares Parente, Francisco José Costa and Aurio Lucio Leocádio

– The purpose of this paper is to develop a scale for measuring the construct perceived value, as evaluated by customers of retail banks.

Abstract

Purpose

The purpose of this paper is to develop a scale for measuring the construct perceived value, as evaluated by customers of retail banks.

Design/methodology/approach

The procedures involved an analysis of the literature about customer perceived value in order to identify the main dimensions relevant to bank sector, and after that, it was followed the conventional steps for developing multiple items scales, with fieldwork, scale purification exploratory analysis of reliability and of validity.

Findings

After two sampling procedures, the scale for the account holder perceived value retail banking was satisfactorily validated. The final scale is characterized as multidimensional, involving dimensions of operational quality, convenience and access, safety and soundness, and monetary sacrifice, each of them measured with four items reflectively related to the main construct.

Research limitations/implications

Although the research was carried considering the conventional scaling procedures recommendations, the result may reflect the specificities of Brazilian bank customers; considering this, some other applications are necessary do bring a geographical validation of the scale.

Practical implications

The scale developed is an instrument that can be used to measure one of the most important constructs of bank customers, the customer perceived value, and can be used by academic researchers and also by bank managers.

Originality/value

The study brings a contribution not yet present in the main international literature, since no other study with complete development of a multidimensional perceived value measurement scale was identified, and can become a reference for other similar studies in the banking context.

Details

International Journal of Bank Marketing, vol. 33 no. 4
Type: Research Article
ISSN: 0265-2323

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Article

Hardeep Chahal and Neetu Kumari

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…

Abstract

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 orientation, external marketing orientation and financial performance need to be pursued further for richer insight into the inter‐related service marketing concepts. The study is limited to indoor patients only and the perceptions of employees and other stakeholders are important to understand their overall affect on CPV.

Originality/value

The study has unique value to the healthcare literature, both from theoretical and managerial perspectives. The study produced a standardized scale of consumer perceived value which can be used in both public and private healthcare sectors. It incorporates valuation of functional and affective aspects, and provides overall quantification of the value perceived by Indian healthcare consumers.

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Article

Sanjit Kumar Roy, Rik Paul, Ali Quazi and Bang Nguyen

The purpose of this paper is to develop and validate a scale for measuring consumers’ perceived service value in the Indian retail banking services. This purpose is rooted…

Abstract

Purpose

The purpose of this paper is to develop and validate a scale for measuring consumers’ perceived service value in the Indian retail banking services. This purpose is rooted in the absence of consensus on what constitutes service value and how to measure such value in the above context.

Design/methodology/approach

The scale development procedure comprised qualitative and quantitative approaches. A list of possible measurement items was compiled based on literature review and expert opinion through focus groups. Data were collected from a sample of 442 respondents representing the Indian retail banking sector using survey instrument and were analyzed using the structural equation modeling.

Findings

The study revealed a seven-dimensional scale for measuring service which includes service equity, service quality, customer intimacy, product leadership, operational effectiveness, customer communication, and perceived sacrifice. Thus, the scale emerging from this study is consistent with established scales and is applicable to the Indian retail services setting. This study contributes to the knowledge gap by confirming that the west-centric service value measurement scale is moderately applicable to the services sector in India.

Originality/value

This research is a direct response to calls from the leading marketing pundits to explore the validity and applicability of the existing marketing constructs and models originated in the west to Indian markets. Keeping in mind the established service value measurement scale, this study develops and validates a seven-dimensional scale for measuring service value in an Indian setting with novel sub-dimensions.

Details

International Journal of Bank Marketing, vol. 36 no. 4
Type: Research Article
ISSN: 0265-2323

Keywords

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Article

Juan Carlos Fandos Roig, Javier Sanchez Garcia, Miguel Angel Moliner Tena and Jaume Llorens Monzonis

The purpose of this research is to analyse the dimensionality of the concept of perceived value in the banking sector, adapting the GLOVAL scale of measurement of perceived

Abstract

Purpose

The purpose of this research is to analyse the dimensionality of the concept of perceived value in the banking sector, adapting the GLOVAL scale of measurement of perceived value to the banking services sector.

Design/methodology/approach

A total of 200 customers of financial entities were surveyed, and structural equations models were used to verify the reliability and validity of the scale of perceived value.

Findings

Perceived value is found to be a multidimensional construct composed of six dimensions: functional value of the establishment, functional value of the personnel; functional value of the service; functional value price; emotional value; and social value. A scale of overall perceived value in financial services was obtained, composed of six dimensions and represented by 22 items that are significant for their measurement.

Research limitations/implications

In future studies it would be interesting to include items to measure non‐monetary sacrifices, such as waiting times, queues, etc.

Practical implications

A tool for measuring the value of financial entities as perceived by the customer is presented; with it the value perceived by customers can be quantified, evaluated and monitored.

Originality/value

This study proposes a scale of measurement of the value perceived by consumers in the banking sector which incorporates valuations of functional aspects and of affective aspects, thus obtaining an overall quantification of the value perceived by the customer of the purchase made.

Details

International Journal of Bank Marketing, vol. 24 no. 5
Type: Research Article
ISSN: 0265-2323

Keywords

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Article

Maria Del Mar Alonso-Almeida, Merce Bernardo, Josep Llach and Frederic Marimon

The purpose of this paper is to propose and test an e-quality model for leisure products purchased online. Two dimensions are considered in order to configure the scale

Abstract

Purpose

The purpose of this paper is to propose and test an e-quality model for leisure products purchased online. Two dimensions are considered in order to configure the scale: functional quality and hedonic quality.

Design/methodology/approach

Based on a survey conducted on a sample of 1,109 online customers who had bought travel leisure products, the model and hypotheses were validated using structural equation modeling analysis.

Findings

The results reveal that both quality dimensions, through an e-quality second order dimension, are critical to obtaining loyalty through perceived value. In terms of functional quality, however, privacy is not significant for consumers because security programs have improved. Moreover, the e-quality – perceived value – loyalty service chain has been confirmed. In addition, a partial mediating effect of perceived value between e-quality and loyalty has been detected.

Practical implications

e-Service managers must be aware of the importance of hedonic quality in seeking to attract and retain customers on their web sites. On the other hand, it has to be considered not only direct effects for evaluating customer loyalty, but also the mediator effect of perceived value is needed.

Originality/value

From now on, the paper forecasts that “hedonics” will be present in future scales designed to assess e-quality, although what is really valued as important is still functional quality.

Details

Industrial Management & Data Systems, vol. 114 no. 3
Type: Research Article
ISSN: 0263-5577

Keywords

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Article

Miguel A. Moliner, Javier Sánchez, Rosa M. Rodríguez and Luís Callarisa

The purpose of this paper is to study the formation of a consumer's attitude towards a supplier, given the identification of the key indicators of perceived relationship…

Abstract

Purpose

The purpose of this paper is to study the formation of a consumer's attitude towards a supplier, given the identification of the key indicators of perceived relationship quality, and their links with one another and with the perceived value of a purchase.

Design/methodology/approach

Three cities were chosen, in different regions of Spain, and of different sizes. A total of 402 valid interviews were carried out in two industries: tile manufacturing and tourism. The selection procedure was random.

Findings

The results show that the consumer's satisfaction is the main basis for perceived relationship quality. The paper likewise verifies the importance of transaction‐level evaluations for perceived relationship quality. The automatic affective reactions generated in the consumer in the first moments, and the social impact of the purchase, are aspects that determine perceived relationship quality. The paper also looks at the importance of considering commitment as an attitude.

Research limitations/implications

The intention to repurchase should be incorporated, together with the social norms identified, in the model of Fishbein and Ajzen.

Practical implications

To gain a customer's loyalty it is necessary to achieve his/her satisfaction. A supplier must pay attention to customers' trust and commitment throughout all transactions. Suppliers must take care of the quality of their products and the attention given by the contact personnel, paying special attention to certain emotional aspects relating to customers' enjoyment of the product and to their stay in the sales outlet during the process of deciding to purchase.

Originality/value

The paper clarifies two new concepts, perceived value and the quality of the relationship, and empirically verifies the causal relationship between them, in two different industries.

Details

European Journal of Marketing, vol. 41 no. 11/12
Type: Research Article
ISSN: 0309-0566

Keywords

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Article

Serkan Akinci, Aslıhan Kiymalioğlu and Eda Atilgan Inana

This study aims to evaluate the perceptions and behavioral intentions of golf players by means of the relationship between customer satisfaction, perceived value and…

Abstract

Purpose

This study aims to evaluate the perceptions and behavioral intentions of golf players by means of the relationship between customer satisfaction, perceived value and loyalty concepts.

Design/methodology/approach

The data used in testing the hypothesis developed were gathered by face-to-face survey method from the golf players using four golf courses in Antalya, Turkey during the peak season (March, April, May, October). At the end of the data screening period, 351 usable questionnaires were gathered. The proposed model was estimated through a mediation analysis with parallel multiple mediator model.

Findings

The roles of perceived value dimensions between satisfaction and loyalty were revealed within the context of the proposed model. Moreover, the relative importance of perceived value dimensions in the causal relationship between satisfaction and loyalty were determined.

Research limitations/implications

The research was limited to a specific topic in service industry. The possible effect of several demographic factors, such as country-of-origin of the respondents, their experience levels, etc. has been overlooked. Future studies could measure the mediating role of perceived value between satisfaction and loyalty intention in different service settings and could obtain specific results for consumer segments with more homogenous subsamples. Further studies also would provide knowledge on the role of social value dimension, which could not be proved in the current research.

Practical implications

The research underlines the relative importance of perceived value dimensions in affecting loyalty intentions. That will enable managers to focus on the effective dimensions in creating customer loyalty.

Originality/value

The effects of satisfaction on loyalty have long been known, yet the function of value dimensions as mediators between satisfaction and loyalty intention in a service setting is the original contribution of the study.

Details

International Journal of Culture, Tourism and Hospitality Research, vol. 9 no. 2
Type: Research Article
ISSN: 1750-6182

Keywords

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Article

Martina G. Gallarza, Francisco Arteaga-Moreno, Giacomo Del Chiappa and Irene Gil-Saura

Within the abundant and not always unanimous body or research on conceptual and methodological approaches to consumer value in services, there are two areas of relative…

Abstract

Purpose

Within the abundant and not always unanimous body or research on conceptual and methodological approaches to consumer value in services, there are two areas of relative consensus: the multidimensional nature of value (intra-variable approach) and the existence of causal relations with other constructs (inter-variable approach). This work aims to contribute additional knowledge in both areas, with a joint approach in a structural model tested for hospitality services.

Design/methodology/approach

The study proposes four scales of intrinsic values (entertainment, aesthetics, ethics and spirituality as relaxation), based on Holbrook’s (1999) value typology, and a casual model to be used to measure the relationships between these four values and overall perceived value, satisfaction and loyalty. The model is tested with PLS on a sample of 585 hotel guests on the island of Sardinia (Italy).

Findings

The psychometric properties of all four value scales, created ad hoc, are tested and approved. Results on the causal model show contrasted links on the intra-variable approach, entertainment, aesthetics and spirituality (measured as relaxation), are positive antecedents of perceived value, while the path ethics-overall value is not confirmed. The value–satisfaction–loyalty chain is fully confirmed, with strong linkages.

Research limitations/implications

The authors acknowledge the use of a convenience sample, of mainly leisure tourists.

Practical implications

The implications for managers are derived on the need of considering extra drivers (intrinsic and therefore fully experiential) of satisfaction and loyalty.

Originality/value

Research on value has been qualified as not univocal and controversial. This study adds knowledge on the use of four less common value types (intrinsic ones) and sheds light on their nature as antecedents of the well-known value–satisfaction–loyalty chain.

Details

Journal of Services Marketing, vol. 30 no. 2
Type: Research Article
ISSN: 0887-6045

Keywords

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Article

Mohammed Ismail El-Adly and Riyad Eid

The purpose of this paper is to identify customers’ perceived value constructs of shopping malls from the perspective of Muslim shoppers and to develop items for measuring…

Abstract

Purpose

The purpose of this paper is to identify customers’ perceived value constructs of shopping malls from the perspective of Muslim shoppers and to develop items for measuring these constructs, empirically validate the scale, and carry out an initial investigation of the effect of these dimensions on behavioural outcomes.

Design/methodology/approach

By means of a multi-dimensional procedure on a sample of 329 Muslim mall shoppers in the UAE, the authors have developed a scale of measurement of these shoppers’ perceived value of malls through grouping 30 value items into eight dimensions.

Findings

The study constructed and validated a scale of perceived value of malls taking into consideration the mall shopper’s religion (i.e. Islam). The authors name this new scale Muslim MALLVAL. This scale demonstrates that, like any other shoppers, Muslims who shop in malls assess the shopping experience through both cognitive and affective values in addition to the Islamic value of the mall. The study in addition reveals that the dimensions of Muslim MALLVAL have significant positive influences on behavioural outcomes such as willingness to continue shopping and recommendation of the mall to others.

Research limitations/implications

This study is carried out on Muslim shoppers in the UAE context. However, the authors urge other researchers to replicate the study and get replies from different countries and in particular to use the measures developed in this study to test their robustness.

Practical implications

Muslim mall shoppers evaluate not only the traditional aspects of mall value but also the religious identity related aspects that contribute to the value creation. Therefore, mall developers and managers who target Muslim shoppers (residents and/or tourists) should create and maintain the appropriate shopping environment for Muslim shoppers.

Originality/value

This study is the first to provide an integrative scale for the perceived value of shopping malls from the perspective of Muslim shoppers.

Details

International Journal of Retail & Distribution Management, vol. 45 no. 1
Type: Research Article
ISSN: 0959-0552

Keywords

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Article

Weiping Chen

The purpose of this paper is threefold: to conceptualize a construct of the perceived value in CSA and its dimensions, to operationalize and validate the construct, and to…

Abstract

Purpose

The purpose of this paper is threefold: to conceptualize a construct of the perceived value in CSA and its dimensions, to operationalize and validate the construct, and to empirically investigate the influence of perceived value in CSA on consumer satisfaction and loyalty.

Design/methodology/approach

This research begins by reviewing relevant literature that frames the concept of perceived value in CSA and integrates this construct into a nomological network. Operational measures for each component of perceived value in CSA are then developed. The scale is validated, and then used to test the hypothesized model in a sample of 198 consumers of Beijing's five CSA farms using partial least squares (PLS) as an analytical tool.

Findings

Perceived value in CSA is found to be a formative, multi-dimensional, third-order construct. Further, the results suggest that perceived value in CSA has both a direct positive effect on consumer loyalty and an indirect effect mediated through consumer satisfaction.

Research limitations/implications

Limitations and research directions refer to the need to increase the sample size and replicate research in other places, the possibility of conducting longitudinal research, the need to identify antecedents of perceived value, and the opportunity to assess perceived value across a number of CSA member characteristics.

Practical implications

CSA farmers should recognize the importance of value creation to build and maintain long time relationships. This study suggests that CSA farmers can enhance value from two approaches. One approach is to build strategies to facilitate delivery of product benefits, emotional benefits, and social benefits. Another approach is to invest in efforts to reduce inconvenience and lower risk. In addition, the formative model means that CSA farmers can allocate resources depending on the relative weight of each in value perceptions.

Originality/value

This research is one of the first to conceptualize perceived value in a CSA setting; it argues that modeling of perceived value in CSA should take a formative approach and finds support for this; and assesses the nomological validity of the perceived value in CSA.

Details

British Food Journal, vol. 115 no. 10
Type: Research Article
ISSN: 0007-070X

Keywords

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