How consumers determine value: A new look at inputs and processes

Abstract

This dissertation explores alternative models of the valuing process, and the role of satisfaction in the delivery of value, in a service context. Delivering value and satisfaction to the customer is an important concern for firms who recognize the importance of a customer focus. To accomplish this goal, marketers must learn how to deliver and measure both value and satisfaction. This dissertation explores enhancing value and/or satisfaction by focusing on a broad array of costs and benefits in a consumption context. The importance of three types of benefits (functional, symbolic, and experiential) and various costs (i.e. monetary and time) consumers consider while determining value and satisfaction are explored. The dissertation also explores the relationship between perceived value and consumer satisfaction. Three alternative models that offer rival explanations of how consumers determine value and satisfaction over time are proposed to increase understanding of how to deliver value and satisfaction to consumers. Longitudinal data was collected from guests attending an internationally renowned destination resort by gathering surveys from consumers before, during, and after their vacation experience; this context presented a unique opportunity to study the valuing process, including the role of satisfaction, over time.