Article2012

The price‐category effect and the formation of customer value of high‐tech products

22 citations0/0 files storedJournal of Consumer Marketing

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Consumer Market Behavior and Pricing Consumer Behavior and Marketing Influence Consumer Behavior in Brand Consumption and Identification

Abstract

Purpose This study aims to explore: first, the formation of the customer value of high‐tech consumer products through application of intrinsic and extrinsic cues of product quality; and second, the effect of the mental price category of the product on the construction of customer value. Design/methodology/approach The study was conducted in the Finnish consumer market in 2008. In total, 453 completed interview forms were collected through the structured interview method. The factor model was constructed through explorative factor analysis and hypothesis testing was conducted through linear multiple‐regression analysis. Findings The high‐tech product's price category was found to have a significant effect on the construction of the customer value. The mental price category in which consumers located the product was found to dictate how the perceived value was constructed through the intrinsic and extrinsic dimensions of product quality. The customer value of high‐tech consumer products was composed of visual appeal, excellence, and price satisfaction. Intrinsic cues of product quality were emphasised. Originality/value The study provides new insights into how the formation of customer value is dictated by the mental price category perceived by consumers. Also, new information on how intrinsic and extrinsic cues of product quality affect the customer value of high‐tech consumer products was provided.

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References

1988Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence 1977Marketing Research: Methodological Foundations 2001Experiential value: conceptualization, measurement and application in the catalog and Internet shopping environment☆11☆This article is based upon the first author’s doctoral dissertation completed while at Georgia Institute of Technology.1980Pricing: Making Profitable Decisions 1999Consumer Value: A Framework for Analysis and Research 1998The Effects of Price-Comparison Advertising on Buyers’ Perceptions of Acquisition Value, Transaction Value, and Behavioral Intentions 1988The Moderating Effect of Prior Knowledge on Cue Utilization in Product Evaluations 1997Reflections on gaining competitive advantage through customer value

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2017Gen Y-ers’ brand loyalty drivers in emerging devices 2014Children’s price knowledge 2022Consumer Responses to Selected Activities: Price Increases, Lack of Product Information and Numerical Way of Expressing Product Prices

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