The concept of customer perceived value occupies a prominent position within the
strategic agenda of organisations, as firms seek to maximise the value perceived by
their customers as arising from their consumption, and to equal or exceed that
perceived in relation to competitor propositions. Customer value management is
similarly central to the marketing discipline. However, the nature of customer value
remains ambiguous and its measurement is typically flawed, due to the poor
conceptual foundation upon which previous research endeavours are built.
This investigation seeks to address the current poverty of insight regarding the nature
and measurement of customer value. The development of a revised conceptual
framework synthesises the strengths of previous value conceptualisations while
addressing many of their limitations. A multi-dimensional depiction of value arising
from customer experience is presented, in which value is conceptualised as arising at
both first-order dimension and overall, second-order levels of abstraction.
The subsequent operationalisation of this conceptual framework within a two-phase
investigation combines qualitative and quantitative methodologies in a study of
customer value arising from subscription TV (STV) consumption. Sixty semi-structured
interviews with 103 existing STV customers give rise to a multi-dimensional model of
value, in which dimensions are categorised as restorative, actualising and hedonic in
type, and as arising via individual, reflected or shared modes of perception. The
quantitative investigation entails two periods of data collection via questionnaires
developed from the qualitative findings, and the gathering of 861 responses, also from
existing STV customers. A series of scales with which to measure value dimensions is
developed and an index enabling overall perceived value measurement is produced.
Contributions to theory of customer value arise in the form of enhanced insights
regarding its nature. At the first-order dimension level, the derived dimensions are of
specific relevance to the STV industry. However, the empirically derived framework of
dimension types and modes of perception has potential applicability in multiple
contexts. At the more abstract, second-order level, the findings highlight that value
perceptions comprise only a subset of potential dimensions. Evidence is thus
presented of the need to consider value at both dimension and overall levels of
perception. Contributions to knowledge regarding customer value measurement also
arise, as the study produces reliable and valid scales and an index. This latter tool is
novel in its formative measurement of value as a second order construct, comprising
numerous first-order dimensions of value, rather than quality as incorporated in
previously derived measures. This investigation also results in a contribution to theory
regarding customer experience through the identification of a series of holistic, discrete,
direct and indirect value-generating interactions.
Contributions to practice within the STV industry arise as the findings present a solution
to the immediate need for enhanced value insight. Contributions to alternative
industries are methodological, as this study presents a detailed process through which
robust value insight can be derived. Specific methodological recommendations arise in
respect of the need for empirically grounded research, an experiential focus and a twostage
quantitative methodology.
| Identifer | oai:union.ndltd.org:CRANFIELD1/oai:dspace.lib.cranfield.ac.uk:1826/8586 |
| Date | 09 1900 |
| Creators | Bruce, Helen Louise |
| Contributors | Wilson, Hugh |
| Publisher | Cranfield University |
| Source Sets | CRANFIELD1 |
| Language | English |
| Detected Language | English |
| Type | Thesis or dissertation, Doctoral, PhD |
| Rights | © Cranfield University 2013. All rights reserved. No part of this publication may be reproduced without the written permission of the copyright owner. |
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