myself
Literature Review
Dependent Variable
Perceived Value
- Definition: Perceived value is an important marketing concept. It lies at the heart of marketing and deals solely with the customer's perception of a product. Perceived value is a consolidated measure because it takes into account subjective perceptions with limits placed on it by price and other objective costs. It also means the worth that a product or service has in the mind of the consumer. The consumer’s perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy. Instead, they simply have an internal feeling for how much certain products are worth to them. Thus, in order to obtain a higher price for their products, producers may pursue marketing strategies to create a higher perceived value for their products.
- The importance of perceived value in service business: Nowadays, there are many service businesses in the market and they try to raise customer relationship intention by developing services which can create value-added benefits for their enterprise customers. Thus, perceived value is their clients’ overall impression of the services they offer. When the entrepreneurs are selling a service instead of a tangible product, the perceived value carries even more importance. The entrepreneurs must not only provide a useful and relevant service to their clients, but they also have to get them recognize the value they are getting before they make their initial purchase, and afterward for each subsequent purchase. Having a high perceived value not only allows them to charge more for their services, but it can reduce price objections when it comes time to make the sale.
Independent Variables
Service Quality
- Definition: Service Quality is an assessment of how well a delivered service conforms to the client's expectations.
Dependent Variable
Perceived Value
- Definition: Perceived value is an important marketing concept. It lies at the heart of marketing and deals solely with the customer's perception of a product. Perceived value is a consolidated measure because it takes into account subjective perceptions with limits placed on it by price and other objective costs. It also means the worth that a product or service has in the mind of the consumer. The consumer’s perceived value of a good or service affects the price that he or she is willing to pay for it. For the most part, consumers are unaware of the true cost of production for the products they buy. Instead, they simply have an internal feeling for how much certain products are worth to them. Thus, in order to obtain a higher price for their products, producers may pursue marketing strategies to create a higher perceived value for their products.
- The importance of perceived value in service business: Nowadays, there are many service businesses in the market and they try to raise customer relationship intention by developing services which can create value-added benefits for their enterprise customers. Thus, perceived value is their clients’ overall impression of the services they offer. When the entrepreneurs are selling a service instead of a tangible product, the perceived value carries even more importance. The entrepreneurs must not only provide a useful and relevant service to their clients, but they also have to get them recognize the value they are getting before they make their initial purchase, and afterward for each subsequent purchase. Having a high perceived value not only allows them to charge more for their services, but it can reduce price objections when it comes time to make the sale.
Independent Variables
Service Quality
- Definition: Service Quality is an assessment of how well a delivered service conforms to the client's expectations.