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Value Assessment: The Antecedent of Customer Satisfaction


  • Ellen Day
  • Melvin Crask


If customer satisfaction is viewed as an outcome, then focusing discussion on its antecedents is necessary to effect desired outcome. We take the position that dis/satisfaction is largely based on an assessment of value. Although a core concept in marketing, surprisingly little is known about what value is, what its characteristics are, or how consumers determine it. The purpose of this paper is to ( 1 ) present our synthesis of the value-related literature, including several postulates summarizing extant knowledge; (2) describe our proposal to reconceptualize the value assessment process in terms of perceived risk, and (3) present suggestions for future research.