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Efficiency and quality as economic dimensions of perceived value: Conceptualization, measurement, and effect on satisfaction

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  • Sánchez-Fernández, Raquel
  • Iniesta-Bonillo, M. Ã ngeles

Abstract

Perceived value has been analyzed from various perspectives, and a variety of typologies and dimensions have been suggested for the construct. Economic value is one of these types, which is posited in this study as being composed of two dimensions: efficiency and quality. Based on the typology of Holbrook [1999. Introduction to Consumer Value. In: Holbrook, M.B. (Ed.), Consumer Value. A Framework for Analysis and Research. London, pp. 1–28], the present study develops a conceptual framework and a measurement scale for these two components. The relationship between economic value and consumer satisfaction is also examined. The study also describes an empirical study that confirms the validity and usefulness of the proposed model. The results provide an operational tool for measuring economic value that will allow retailers to design suitable strategies for creating and delivering value to consumers. Furthermore, they demonstrate the usefulness of economic value as a concept in the study of consumer satisfaction.

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  • Sánchez-Fernández, Raquel & Iniesta-Bonillo, M. à ngeles, 2009. "Efficiency and quality as economic dimensions of perceived value: Conceptualization, measurement, and effect on satisfaction," Journal of Retailing and Consumer Services, Elsevier, vol. 16(6), pages 425-433.
    • Handle: RePEc:eee:joreco:v:16:y:2009:i:6:p:425-433
    DOI: 10.1016/j.jretconser.2009.06.003
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    References listed on IDEAS

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    5. Luis Doña-Toledo & Teodoro Luque-Martínez & Salvador Barrio-García, 2017. "Antecedents and consequences of university perceived value, according to graduates: The moderating role of Higher Education involvement," International Review on Public and Nonprofit Marketing, Springer;International Association of Public and Non-Profit Marketing, vol. 14(4), pages 535-565, December.
    6. Dennis Ahrholdt & Goetz Greve & Gregor Hopf, 2019. "Online-Marketing-Intelligence," Springer Books, Springer, number 978-3-658-26562-5, December.
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    13. Mauricio Carvache-Franco & Conrado Carrascosa-López & Wilmer Carvache-Franco, 2021. "The Perceived Value and Future Behavioral Intentions in Ecotourism: A Study in the Mediterranean Natural Parks from Spain," Land, MDPI, vol. 10(11), pages 1-15, October.
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    15. Md. Sahabuddin & Qingmei Tan & Imran Hossain & Md. Shariful Alam & Md. Nekmahmud, 2021. "Tourist Environmentally Responsible Behavior and Satisfaction; Study on the World’s Longest Natural Sea Beach, Cox’s Bazar, Bangladesh," Sustainability, MDPI, vol. 13(16), pages 1-19, August.
    16. Kamolsook, Apinya & Badir, Yuosre F. & Frank, Björn, 2019. "Consumers' switching to disruptive technology products: The roles of comparative economic value and technology type," Technological Forecasting and Social Change, Elsevier, vol. 140(C), pages 328-340.
    17. Dennis Ahrholdt & Goetz Greve & Gregor Hopf, 2023. "Website- und Webshop-Marketing," Springer Books, in: Online-Marketing-Intelligence, edition 2, chapter 15, pages 409-463, Springer.
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