Citation
(2002), "Customer perceived value: a substitute for satisfaction in business markets?", Measuring Business Excellence, Vol. 6 No. 4. https://doi.org/10.1108/mbe.2002.26706dae.010
Publisher
:Emerald Group Publishing Limited
Copyright © 2002, MCB UP Limited
Customer perceived value: a substitute for satisfaction in business markets?
Customer perceived value: a substitute for satisfaction in business markets?
A. Eggert and W. Ulaga, Journal of Business & Industrial Marketing (UK), Vol. 17 No. 2/3, 2002
Investigates the interaction between customer value and customer satisfaction. Reviews the literature and identifies the differences between the two. Next, develops two models linking customer-perceived value to behavioural outcomes: the direct impact model and the mediated impact model. From tests of the models with data from a cross-sectional survey of 300 purchasing managers in Germany, recommends taking both into account when assessing outcomes of relationship value. Argues that customer-perceived value and customer satisfaction are distinct but complementary constructs with strong interactions and suggests that, to avoid ambiguities, customer satisfaction should be conceptualized and measured as an affective construct and customer-perceived value as a cognitive variable.
Comment: By taking into account both customer satisfaction and customer value, this article opts for a happy medium in the CRM debate. An uncontroversial piece incorporating a good blend of theory and practice.