Introduction to consumer value

Holbrook, Morris B.

doi:10.4324/9780203010679.ch0

Cited by 475 publications

(801 citation statements)

References 16 publications

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“…Efficiency is determined through comparison of what is obtained in an exchange relationship (i.e., products, services, knowledge, and other benefits) with what is given for the purchase (i.e., money, time, effort, and other costs). Quality dimension refers to reactive appreciation of the potential ability of an object or experience to accomplish a goal or to perform a function (Holbrook, 1999). Wilson and Jantrania (1996) cluster economic value into cost reduction, value engineering, investment quality and concurrent engineering.…”

Section: Economic Valuementioning

confidence: 99%

“…However, a few authors have provided different dimensions of economic value as they believed it is beyond the evaluation of costs and benefits. According to Holbrook (1999), economic value is a bi-dimensional construct composed of two dimensions -efficiency and quality. Efficiency is closely related to the trade-off of benefits and costs perspective.…”

Section: Economic Valuementioning

confidence: 99%

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Relationship Value and Relationship Quality: An Exploration of Its Antecedents on Customer Loyalty

Yoong¹,

Lian²,

Subramaniam³

2017

ASS

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The aim of this study is to examine relationship value and relationship quality, and its effect on customer loyalty in the context of relationship marketing. Four key relationship value variables of economic value, service value, relational value and social value are examined in this study. The study focuses on the Malaysian telecommunication industry and based on the business-to-customer environment. The structural equation modelling technique is used to empirically test the proposed hypotheses using a sample of 350 customers collected by a questionnaire survey. The results showed that three relationship value variables of economic value, service value, and social value have significantly influenced relationship quality. Customer loyalty is significantly affected by relationship quality. There is no significant effect of relational value and relationship quality. The contribution of this paper is twofold. From a theoretical perspective, the social exchange theory is used to explain and conceptualize relationship marketing paradigms. It offers both a conceptual foundation and empirical-based evaluation of customer loyalty through the context of relationship value and relationship quality. The relationship value dimensions of economic value, service value, and social value is the antecedent to relationship quality, which lead to customer loyalty. In the practical perspective, the findings proposed that the telecommunication service providers should focus on relationship value through providing better value for money packages, innovation of services and improve social interaction with customers to build stronger relationship quality and achieve customer loyalty.

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Section: Economic Valuementioning

confidence: 99%

Section: Economic Valuementioning

confidence: 99%

Relationship Value and Relationship Quality: An Exploration of Its Antecedents on Customer Loyalty

Yoong¹,

Lian²,

Subramaniam³

2017

ASS

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“…On the other hand, Holbrook (1999) defined eight consumer values in a framework which are efficiency, excellence, play, aesthetics, politics, morality, self-esteem and spirituality.…”

Section: Perceived Valuementioning

confidence: 99%

Customer Satisfaction Modeling in Hotel Industry: A Case Study of Kish Island in Iran

Mohajerani¹,

Miremadi²

2012

IJMS

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Purpose-Hotel Industry is one of the most substantial factors for Tourism Industry. It could provide the necessary substructures for Tourism. Therefore the growth in Tourism industry depends on growth in Hotel industry. Hotel industry had a major growth in recent years in Iran; therefore the purpose of this paper is to explore the customer satisfaction in hotel industry. This paper aims to identify the relation between customer satisfactions as dependent variable with other independent variables such image, customer expectation, service quality, perceived value, locality, and complaining behavior. The second goal of this study was to propose a customer satisfaction model for hotel industry in Kish Island (IRAN). Therefore, the findings of this study will contribute to both hotel management and tourism industry improvement in Iran.Design/Methodology/approach-A proportional simple random sampling of Iranian visitor to Kish Island were drawn. In this study the researcher had used two different kinds of samples. The first sample was customers of three different hotels of 3 stars, 4 stars, 5 stars which are immeasurable and unlimited. The total number of hotels with the rating of 3 stars, 4 stars, and 5 stars were 22. Findings-The correlation of image, customer expectation, service quality, perceived value, and customer loyalty are significant enough to show the correlation with customer satisfaction in hotel industry in Iran, furthermore the correlation of complaining behavior and customer was weak and negative, complaint behavior and customer satisfaction is negatively related, which means the lower complaint behavior was, the higher customer satisfaction obtained.Originality/Value-From a theoretical point of view the results of this study illuminate the relationship between customer satisfaction with variety of factors in Iranian hotel industry. From practical point of view, it explains why certain customer has more trust, experience, loyalty in particular hotels. It is hypothesized and demonstrated empirically that customer satisfaction.

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“…Rather than being a distinct concept in its own right, customer-perceived value is strongly correlated with price, quality, sacrifice and satisfaction and more weakly related to personal values (Holbrook, 1999;Rokeach, 1973). The concept can be examined from different angles: the customer's viewpoint; the shareholder's perspective; in relation to the value chain; or from a business-to-business standpoint.…”

Section: Introductionmentioning

confidence: 99%

Reviewing and conceptualising customer-perceived value

Chang

Dibb²

2012

Mark. Rev.

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Customer-perceived value is of concern for consumers wishing to make sound purchase choices, for practitioners who are keen to improve their customers' perceptions of value, and for researchers seeking to clarify the conceptual underpinnings of customer-perceived value and its relationship with other marketing variables. This paper synthesises the literature from marketing, economics, axiology and psychology to provide a holistic review of the customer-perceived value concept. Drawing on these sources facilitates deeper understanding and conceptualisation of customer-perceived value. Specifically, the paper seeks to understand customer-perceived value in both services and new shopping contexts, such as the online setting. The implications for researchers and managers are considered.

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Introduction to consumer value

Cited by 475 publications

References 16 publications

Relationship Value and Relationship Quality: An Exploration of Its Antecedents on Customer Loyalty

Relationship Value and Relationship Quality: An Exploration of Its Antecedents on Customer Loyalty

Customer Satisfaction Modeling in Hotel Industry: A Case Study of Kish Island in Iran

Reviewing and conceptualising customer-perceived value

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