Customer perceived value: a substitute for satisfaction in business markets?

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

The bonding effects of relationship value and switching costs in industrial buyer–seller relationships: An investigation into role differences

“…In constraint-based relationships, customers exhibit a higher tendency to search for alternatives than do customers in dedication based relationships (Bendapudi & Berry, 1997). Eggert and Ulaga (2003) find a strong negative association between customer-perceived value and search for alternatives, indicating that the higher relationship value for a customer is, the less likely it is to search for alternative suppliers.…”

Logistics service quality: a new way to loyalty

“…Other authors relate satisfaction to process result, in other words to the response or state of the customer considering consumption of the product. This response may be cognitive (Howard and Sheth, 1969;Churchill and Surprenant, 1982;Day, 1984), with satisfaction as the result of a consumption experience in which the consumer cognitively evaluates the variables (expectations and results, effort and reward) or satisfaction may be affective (Woodruff and Gardial, 1996;Giese and Cote, 2000;Vanhamme and Snelders, 2001;Eggert and Ulaga, 2002) and reflect the feelings of the consumer or the company (Anderson and Narus, 1984) in terms of product enjoyment. The most useful theoretical basis for explaining the process which leads to judgments of satisfaction has proved to be the disconfirmation of expectations paradigm based on evaluating or measuring certain variables, mainly the perception of the results (performance) and certain comparison standards.…”

The Effects of Travel Service Quality on Organization Perceived Value, Satisfaction and Word-Of-Mouth—A study in Ho Chi Minh City, Vietnam

“…Indeed, perceived value was proven to have direct positive effect on customer satisfaction in many service industries (Eggert & Ulaga, 2002;McDougall & Levesque, 2000). Additionally, satisfaction was found to be a mediator between the perceived value and loyalty; in other words, the path "Perceived value-Satisfaction-Loyalty" was supported (Gallarza et al, 2013).…”