Journal of Retailing 77 (2001) 203–220
Consumer perceived value: The development of a multiple item scale
Jillian C. Sweeneya,*, Geoffrey N. Soutarb a Faculty of Economics and Commerce, University of Western Australia, Perth, WA 6009, Australia b Graduate School of Management, University of Western Australia, Perth, WA 6009, Australia
Value creation is widely discussed in the practitioner literature and is often a part of organizations’ mission statements and objectives. It is seen by many commentators as the key to long-term success, with Albrecht (1992, p 7) arguing that “the only thing that matters in the new world of quality is delivering customer value.” Despite this emphasis, little research has addressed the value construct itself and there is no well-accepted value measure, even in the retail environment in which customers evaluate products before purchase.
The present research project describes the development of a 19-item measure, PERVAL, that can be used to assess customers’ perceptions of the value of a consumer durable good at a brand level. The measure was developed for use in a retail purchase situation to determine what consumption values drive purchase attitude and behavior. Four distinct, value dimensions emerged that were termed emotional, social, quality/performance and price/value for money. The reliability and validity of the scale was assessed in a prepurchase situation, using exploratory and conﬁrmatory analyses. All four value dimensions were found to help signiﬁcantly in explaining attitudes and behavior. The scale was also tested in a postpurchase situation and found to be both reliable and valid in this context as well.
The PERVAL scale has a variety of potential applications and can serve as a framework for further empirical research in this important area. © 2001 by New York University. All rights reserved.
Perceived value, a strategic imperative for producers and
References: Age. (1993). “Call for Retailers to Win Back Consumers’ Loyalty,” Melbourne. (November 25), 24. Albrecht, Karl (1992). “The Only Thing That Matters,” Executive Excellence, 9(November), 7. Babin, Barry J., William R. Darden and Mitch Grifﬁn (1994). “Work and/or Fun: Measuring Hedonic and Utilitarian Shopping Value,” Journal of Consumer Research, 20(March), 644 – 656. Babin, Laurie A. and Alvin C. Burns (1998). “A Modiﬁed Scale for the Measurement of Communication-Evoked Mental Imagery,” Psychology and Marketing, 15(3), 261–278. Bagozzi, Richard P. and Gordon R. Foxall (1996). “Construct Validation of a Measure of Adaptive-Innovative Cognitive Styles in Consumption,” International Journal of Research in Marketing, 13(July), 201–213. Bagozzi, Richard and Todd F. Heatherton (1994). “A General Approach to Representing Multifaceted Personality Constructs: Application to State Self-Esteem,” Structural Equation Modeling, 1(1), 35– 67. Batra, Rajeev and Olli T. Ahtola (1990). “Measuring the Hedonic and Utilitarian Sources of Consumer Attitude,” Marketing Letters, 2(2), 159 –170. Bearden, William O., Richard G. Netemeyer and Jesse E. Teel (1989). “Measurement of Consumer Susceptibility to Interpersonal Inﬂuence,” Journal of Consumer Research, 15(March), 473– 481. Berry, Leonard L., Kathleen Seiders and Larry G. Gresham (1997). “For Love and Money: The Common Traits of Successful Retailers,” Organizational Dynamics, 26(Autumn), 6 –23. Bollen, K. A. (1989). Structural equations with latent variables. New York: John Wiley and Sons. Bolton, Ruth N. and James H. Drew (1991). “A Multistage Model of Customers’ Assessments of Service Quality and Value,” Journal of Consumer Research, 17(March), 375–384. Brock, T. C. (1968). “Implications of Commodity Theory for Value Change,” in Psychological Foundations of Attitudes Burden, Stephen (1998). “Current Trends and Issues in the Retail Sector,” European Venture Capital Journal, (November 1), 1–5. Chain Store Age. (1985). “Value is a Complex Equation,” (May) 14 –15, 18. Churchill Jr., Gilbert A. (1979). “A Paradigm for Developing Better Measures of Marketing Constructs,” Journal of Marketing Research, 16(February), 64 –73. Cravens, David W., Charles W. Holland, Charles W. Lamb Jr. and William C. Moncrieff (1988). “Marketing’s Role in Product and Service Quality,” Industrial Marketing Management, 17(November), 285–304. Dabholkar, Pratibha A., Dayle I. Thorpe and Joseph O. Rentz (1996). “A Measure of Service Quality for Retail Stores: Scale Development and Validation,” Journal of the Academy of Marketing Science, 24(1), 3–16. Dodds, William B., Kent B. Monroe and Dhruv Grewal (1991). “Effects of Price, Brand, and Store Information on Buyers’ Product Evaluations,” Journal of Marketing Research, 28(August), 307–319. Forester, Murray (1999). “Deja vu Discussion Delivers Message Emphasizing Value,” Chain Store Age, 75(April), 12. Fornell, Claes and David F. Larcker (1981). “Evaluating Structural Equation Models with Unobservable Variables and Measurement Error,” Journal of Marketing Research, 18(February), 39 –50. Hartnett, Michael (1998). “Shopper Needs Must be Priority,” Discount Store News, 37(May), 21–22. Holbrook, Morris B. and Elizabeth C. Hirschman (1982). “The Experiential Aspects of Consumption: Consumption Fantasies, Feelings and Fun,” Journal of Consumer Research, 9(September), 132–140. Hunt, H. Keith (1977). “CS/D: Overview and Future Research Directions.” in Conceptualization and Measurement of Consumer Satisfaction and Dissatisfaction. H. Keith Hunt (Ed.) Cambridge, Massachusetts: Marketing Science Institute. 455– 488. Levy, Michael (1999). “Revolutionizing the Retail Pricing Game,” Discount Store News, 38(September), 15. MacKay, Hugh (1999). Turning point: Australians choosing their future. Sydney: MacMillan. McDonald, Roderick P. and Herbert W. Marsh (1990). “Choosing a Multivariate Model: Noncentrality and Goodness of Fit,” Journal of Marketing Research, 22(February), 1–19. Monroe, Kent B. (1990). Pricing: making proﬁtable decisions. (2nd ed.). New York: McGraw-Hill Book Company. Mowday, Richard T., Richard M. Steers and Lyman W. Porter (1979). “The Measurement of Organizational Commitment,” Journal of Vocational Behavior, 14(April), 224 –247. Oliver, Richard L. (1981). “Measurement and Evaluation of Satisfaction Processes in Retail Settings,” Journal of Retailing, 57(Fall), 25– 48. Osgood, Charles E., George J. Suci and Percy H. Tannenbaum (1957). The Measurement of Meaning. Urbana, Illinois: University of Illinois Press. Parasuraman, A. (1997). “Reﬂections on Gaining Competitive Advantage Through Customer Value,” Journal of the Academy of Marketing Science, 25(2), 154 –161. Porter, Michael E. (1990). The competitive advantage of nations. New York: MacMillan Press. Richins, Marsha (1994). “Valuing Things: The Public and Private Meanings of Possessions,” Journal of Consumer Research, 21(December), 504 –521. Schechter, Len (1984). “A Normative Conception of Value,” Progressive Grocer, Executive Report, 12–14. Sheth, Jagdish N., Bruce I. Newman and Barbara L. Gross (1991a). Consumption Values and Market Choice. Swait, Joffre and Jillian C. Sweeney (2000). “Perceived Value and its Impact on Choice Behavior in a Retail Setting,” Journal of Retailing and Consumer Services, 7(2), 77– 88. Sweeney, Jillian C., Geoffrey N. Soutar and Lester W. Johnson (1999). “The Role of Perceived Risk in the Quality-Value Relationship: A Study in a Retail Environment,” Journal of Retailing, 75(1), 77–105. Tellis, Gerald J. and Gary J. Gaeth (1990). “Best Value, Price-seeking, and Price Aversion: the Impact of Information and Learning on Consumer Choices,” Journal of Marketing, 54(April), 34 – 45. Treadgold, Alan (1999). “The Outlook for Asian Retailing,” Discount Merchandiser, 39(May), 45– 46. Vantrappen, Herman (1992). “Creating Customer Value by Streamlining Business Processes,” Long Range Planning, 25(February), 53– 62. Warr, Peter (1990). “The measurement of well-being and other aspects of mental health,” Journal of Occupational Psychology, 63(3), 193–210. Webster, Frederick E. Jr (2000). “Understanding the Relationships Among Brands, Consumers and Resellers,” Journal of the Academy of Marketing Science, 28(1), 17–23. Westbrook, Robert A. and Richard L. Oliver (1991). “The Dimensionality of Consumption Emotion Patterns and Consumer Satisfaction,” Journal of Consumer Research, 18(June), 84 –91. Woodruff, Robert B. (1997). “Customer Value: The Next Source for Competitive Advantage,” Journal of the Academy of Marketing Science, 25(2), 139 –153. Zaichowsky, Judith Lynne (1985). “Measuring the Involvement Construct,” Journal of Consumer Research, 12(December), 341–352. Zeithaml, Valarie A. (1988). “Consumer Perceptions of Price, Quality and Value: A Means-End Model and Synthesis of Evidence,” Journal of Marketing, 52(July), 2–22.