Abstract
Perceived value is increasingly seen as a focal construct in marketing and often described as a key determinant of sustainable competitive advantage and superior performance. Despite these interests, little research has addressed the perceived value construct, and there is no well-accepted perceived value measure. This thesis aims at developing, testing, and applying a perceived value measure, while demonstrating its application in management. It also sets out to test a set of antecedent and consequent relationships to explore influences on, and behavioural outcomes of perceived value in the parcel postal industry. Perceived value is defined in this thesis as the judgement by the consumer of the associated perceived benefits offered by (or linked to) a product or service, when the associated sacrifices have been evaluated or assessed (assuming that through the evaluation process one may either reduce, eliminate or ignore any associated sacrifices). Using perceived risk as a focal measure of associated sacrifices to determine perceived value, the various dimensions of perceived value were researched. Data were collected using a questionnaire which assessed the various dimensions of perceived risk. Since these dimensions provide a perceived risk measure, this measure was then used to assess perceived value and other service evaluation constructs. A model is suggested which shows the relationships between perceived risk, perceived value, satisfaction, and behavioural intentions. It was found that there is an average, and direct negative relationship between perceived risk and perceived value. Also, there is a strong, direct and positive relationship between perceived value and satisfaction, and an average, and direct positive relationship between perceived value and behavioural intentions. The relationships between perceived risk and satisfaction, perceived risk and behavioural intentions were found to be partially mediated by perceived value. Also, the effect of perceived value on behavioural intentions was found to be partially mediated by satisfaction. This thesis provides academics with a new conceptualisation and framework for further research into the perceived value concept. It demonstrates to marketing practitioners especially involved in planning, how perceived value can be used in strategic marketing planning. It particularly demonstrates to practitioners involved in control how non financial indicators can be used in control.