The Role of Value in Consumer Satisfaction

Abstract

The concept of value is central to consumer decision-making and therefore to many strategic topics in marketing management, albeit a thorough understanding of the concept has remained elusive. Although research has demonstrated a potential causal link between value and consumer dis/satisfaction, the complexities of this relationship are not fully understood, perhaps because related research remains somewhat sparse. An extension of prior value-related work, this paper reports on a qualitative inquiry into the role of value in consumer satisfaction and the dynamics of value assessment. The most theoretically and managerially interesting insight gleaned from the study is that value is not always considered during or after purchase/consumption and therefore is not necessarily an antecedent or consequent of consumer dis/satisfaction.