A Review on Customer Perceived Value and Its Main Components

Abstract

Objective – The purpose of this paper is to have a revision on customer perceived value and main components of customer value.

Methodology/Technique – This study was conducted to address following problem. The problem is; satisfied customers may not return to the firm and spread positive word-of-mouth communications to others despite of having customer satisfaction in a firm. Whereas customer value can help to build trust and causes willing to commit long-term relationship with a firm. Thus, customer perceived value is discussed by offering a review on the importance of customer perceived value, and its main components.

Findings – The paper finds out, in spite of having customer satisfaction, the firm does not deliver what is exactly value in the mind of customer. Therefore, by offering desired value to the customers, long-term relationship gained which is the result of customer loyalty.

Novelty – This revision attempts to makes more clarification on customer perceived value as a foundation stone to the success of buyer-seller relationships.

Keywords: Customer Perceived Value, Customer Value, Price, Product Quality, Service Quality

JEL Classification: L80, L84, L89