ArticlePDF Available

Consumer Perceptions of Price, Quality and Value: A Means-End Model and Synthesis of Evidence

Authors:

Abstract

Evidence from past research and insights from an exploratory investigation are combined in a conceptual model that defines and relates price, perceived quality, and perceived value. Propositions about the concepts and their relationships are presented, then supported with evidence from the literature. Discussion centers on directions for research and implications for managing price, quality, and value.
... tingginya kualitas objektif ini belum tentu berkontribusi terhadap ekuitas suatu merek. Hal ini karena sangat tidak mungkin bagi konsumen untuk memberikan penilaian yang komplit dan justified dikaitkan dengan kualitas objektif suatu produk (Zeithaml, 1988;Richardson et al 1994). Boulding, (1993), mengatakan bahwa kualitas yang dirasakan dipengaruhi oleh persepsi. ...
... Konsep tentang persepsi kualitas kemudian dibagi menjadi dua kelompok besar yaitu faktor intrinsik dan ekstrinsik (Zeithaml, 1988). Atribut intrinsik berhubungan dengan wilayah fisik sebuah produk seperti warna, rasa, bentuk dan penampilan. ...
... Kualitas yang dirasakan didefinisikan sebagai penilaian subjektif yang dibuat oleh konsumen mengenai keunggulan atau keunggulan suatu produk (Zeithaml, 1988 ...
Book
Full-text available
Langkah dalam penelitian selalu dimulai dari observasi terhadap fenomena dan berakhir pada objek penelitian yang kita teliti. Fenomena merupakan penyimpangan atas kondisi empiris dengan kondisi ideal (teoritis) atau kesenjangan antara penelitian sebelumnya. Buku ini kami susun agar mahasiswa dan peneliti dapat lebih mudah dalam membuat dan mengembangkan model-model penelitian. Kesulitan dalam memahami artikel jurnal dan banyaknya jurnal berbayar seringkali menyulitkan para mahasiswa dan peneliti dalam memperoleh sumber referensi. Buku ini berupaya merangkum berbagai hal yang meliputi definisi variabel, pengukuran variabel berupa pertanyaan-pertanyaan penelitian dan model penelitian yang digunakan dalam bidang Manajemen dan Akuntansi. Sehingga dengan adanya buku ini diharapkan dapat membantu mahasiswa dalam penyusunan skripsi, tesis maupun artikel ilmiah. Sedangkan bagi dosen akan dapat memberi kemudahan dalam mengarahkan mahasiswa bimbingannya.
... This study utilizes the "theory of needs" by showing the impact of healthcare GSCM on the customers' perception of the provided services' quality based on the SERVQUAL model. According to the "theory of needs," the perceived service quality is the customer's opinion and evaluation of the product's or service's overall superiority, based on the awareness of what they got and what they were promised (Zeithaml 1988;Gualandris and Kalchschmidt 2014;Pitkänen and Linnosmaa 2021). Based on the previous, we use the service quality "SERVQUAL" model developed by Parasuraman et al. (1985) to assess the healthcare service quality as it is proved to be a fruitful background in the healthcare services sector (Al-damen 2017; Ali et al. 2022). ...
Article
Full-text available
This study examines the relationship between uncertainty-fear toward COVID-19, green supply chain management (GSCM), and perceived service quality based on the five dimensions service quality model (SERVQUAL). It also tests the moderating effect of big data analytics (BDA) capabilities. Based on a sample of 300 healthcare managers and customers, we used partial least squares structural equation modeling to analyze the data and test our hypotheses. The empirical results show that the uncertainty-fear toward COVID-19 positively affects GSCM. Also, BDA moderates the relationship between uncertainty-fear toward COVID-19 and GSCM. GSCM positively impacts service quality (empathy, responsiveness, and assurance) but not reliability or tangible items. In addition, GSCM significantly mediates the relationship between uncertainty-fear toward COVID-19 and services’ empathy, responsiveness, and assurance. However, it has an insignificant mediation effect regarding reliability and tangible-item dimensions. Graphical abstract
... Advertising value reflects consumer satisfaction and experience. Thus, it is the value of the advertising in the eyes of the consumer and tells whether the product meets customer expectations (Zeithaml, 1988). On social media, customers create content, share information and ideas, and thus interact with others. ...
Article
Full-text available
The aim of this paper is to examine how consumer perceptions of social media advertisements affect advertising value and brand awareness. With a rapid increase in the number of social media users over the last ten years, a new advertising domain has become available for companies. Brands that manage social media well in their advertising strategies can quickly influence consumer decision-making and create awareness. However, in social media advertising, which is different from traditional advertising, creating content should be produced and this content should be perceived in a short time by consumers. To achieve this, it is necessary to build rapport with consumers and to present correctly what they wish to see in advertisements by creating awareness. In view of the increasing importance of social media advertising, the study examines how consumer perceptions of Instagram advertisements affect advertising value and brand awareness. This study was conducted with Generation Y consumers on the basis of their Instagram habits, a popular social media app. For this purpose, surveys were held with 665 participants who use Instagram. The collected data were analyzed using structural equation modeling. According to the analysis results, Y-generation's perceptions of Instagram advertisements have both a positive and negative impact on advertising value and brand awareness and brand associations.
... AJRBEM Clearly, the first and the most important thing in the endeavor of customer value management is to develop a thorough understanding of customer value and its drivers. In this direction, Zeithaml (1988) proposed the value, of a seller's offering to a buyer, to be difference between what the buyer perceives as the offerings expected benefits and what the buyer perceives as its expected total acquisition and use costs. A seller has many alternative opportunities for creating additional buyer value through increasing buyer's benefits and/or decreasing a buyer's total acquisition and use costs (Forbis & Mehta, 1981). ...
Article
Full-text available
Welfare measures play an important role in the workman’s dedication towards work. The satisfied worker regarding safety and welfare can play his attention on his job. Labor welfare implies that the setting up of minimum desirable standards and the provisions like health, food, clothing, medical assistance, education, insurance, job security etc., such facilities enable the workers to give the productivity. Labor welfare measures also operate work life, life and social life. Labor welfare is important fact of industrial Relations, the extra dimension, giving satisfaction to the worker in a way which evens a good wage cannot. It is a comprehensive term including various services, benefits & facilities offered to Employees by the employer. Health and medical care are broad terms embracing the economic, social and emotional life of a man. Industrial or organizational Health is essentially meant for prevention of diseases and maintenance of positive health. In the above context the researchers intended to study about the health and Welfare measure. Thus the objective of this research paper is to identify the Satisfaction levels of the Employees and Employers, Satisfaction level of percentage of Hyderabad Batteries Limited (HBL) at Shameerpet, Hyderabad.
Chapter
An examination of the marketing and management literatures will very quickly reveal that customer value has been defined in a great many ways. As a result, it would be easy to assume this creates more problems than it solves. This chapter argues that this need not be the case. This is because the different approaches for defining customer value are much more suited to solving some customer value creation-related dilemmas and conundrums than others. With this in mind, three popular and widely employed categories of definitions of customer value are discussed to demonstrate this point: customer value is (1) the amount customers are willing to pay, (2) an equity position that customers perceive they have in an organisation and (3) an inherently multidimensional concept. An analysis of the pros and cons of each approach shows that the third approach is potentially the most enabling when systematically learning about customers, and developing and implementing the organisation’s customer value strategy, including when partnering with many external parties. To demonstrate this point, two frameworks are developed in this chapter using Woodruff’s (1997) very versatile multidimensional definition of customer value. The frameworks illustrate how this highly respected definition can be applied to build a boundary-spanning, customer value learning, co-creation and co-delivery (platform-based) system as an active participant within an institutionally complex ecosystem.
Chapter
Most of the time, the notion of the value of an idea, if not ignored by the company, seems to be established toward the end of the technical development of the idea during the resolution of a problem or in the final stages of the innovation management process for the development of products or services. Generally speaking, the birth of ideas with or without the use of creativity methods consists in the resolution of a technical problem, i.e., the technical aspect of the idea. This paper proposes an experiment using a creative process integrating a TRIZ approach and seeking to demonstrate that taking into account the notion of value, expressed by value proposition statements, in the evaluation of ideas for selection purposes influences the selection of the best idea that satisfies the client’s needs, i.e., the value aspect, but neglects the technical aspect that the client expects. Currently, the TRIZ creative engineering methodology is used to solve mainly the technical aspect of a problem, among others the technical and physical contradictions of technological processes and technical systems. When using a TRIZ approach to find and discover solutions to a problem, it is proposed to associate the value aspect with the technical aspect of the ideas or solutions generated. Thus, in parallel to the search for solutions, be able to associate a set of value proposition statements also generated during the process.KeywordsTRIZProblem solvingNotion of the valueIdea selectionDecision-making
Article
This paper studies participation behavior, organizational commitment, perceived value and attitudinal loyalty as psychological and behavioral antecedents of the intention to use the services offered by professional associations to their members. For this purpose, an empirical study was conducted and the technique used was partial least squares (PLS). The findings highlight the importance of membership commitment and attitudinal loyalty, which have a sequential mediating effect on the relationship between perceived value and intention to use. This study contributes to the literature on professional associations, due to the scarce research on the relationships between psychological and behavioral variables linked to the member-association relationship. Additionally, to date, the constructs involved had not been integrated into a comprehensive research framework in the field of professional associations. The implications for management are the new ways to improve the intention to use the services of professional associations suggested by our findings.
Article
The author reports some empirical results on the strength of the quality-price relation. For many products, the relation between quality and price appears to be very weak; hence, for many products, higher prices appear to be poor signals of higher quality.
Article
Though most observers acknowledge that consumers make inferences among product attributes, the influence of such inferences on product evaluation is much less clear. Study respondents evaluated products for which information on one of two attributes was systematically omitted. A general model is built to estimate the directional effect of inferences on product evaluation. The effect of inferences to a missing attribute is statistically significant and in the expected direction. In one case, the marginal value of the remaining attribute (price) reverses in sign because of an inference. Thus, inferences are theoretically important and a potentially troublesome issue in the modeling and measurement of consumer choice processes.
Article
Do behavioral differences exist among consumers who select items priced differently within the same product category? Analysis of 18 perceptual, personality, and economic variables compared across subjects selecting differently priced alternatives in 7 product lines revealed relationships between perceptual differences and price selections.
Article
The relationship between price and perceived quality is investigated for a variety of products in an experimental situation. The correlates of the consumer's use of price as a communicator of quality (price reliance) is determined and incorporated into a model of the sources of price reliance.
Article
An experiment described in this article is used to illustrate how laboratory experimentation can be an efficient and managerially useful information source. Procedures to assess the validity of a laboratory experiment and considerations of the role of laboratory experimentation in a research system that employs both lab and field environments are discussed.
Article
The author compares self-stated and statistical techniques for linking product features to perceptions. An empirical application shows an analysis of variance model to be superior with respect to predictive validity, and thus supports the use of statistical rather than self-stated methods for linking features to perceptions.
Article
In this laboratory experiment, the influence of two kinds of market information—price and store image—on consumers’ judgments of product quality was measured. Although price was the dominant individual variable, the inclusion of store image significantly affected product quality perceptions even though that information in itself had little impact.
Article
In the study of preference formation, compositional methods (e.g., linear compensatory attitude models) and decompositional techniques (e.g., conjoint analysis) have developed along relatively separate paths. The author attempts to integrate these two approaches via a two-stage model of evaluative judgment whose testing incorporates aspects of both analytic procedures. Specifically, the overall effect of objective product features on affect is broken down into a compositional relationship of affect to perceptions (i.e., attitude structure) and a decompositional analysis of the dependence of perceptions on product features (i.e., psychophysical relations). The approach is illustrated by a study of aesthetic preferences among piano performances differing in four factorially arrayed musical features (tempo, rhythm, dynamics, and phrasing). An integration of decompositional and compositional methods generates a summary path-analytic diagram that clearly represents the process wherein objective product features shape perceptions which, in turn, determine affect. This integrative approach appears to be applicable in several marketing contexts.