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Customer Value from a Customer Perspective: A Comprehensive Review

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abstract The value concept is one of marketing theory’s basic elements. Identifying and creating customer value (CV) - understood as value for customers - is regarded as an essential prerequisite for future company success. Nevertheless, not until quite recently has CV received much research attention. Ideas on how to conceptualize and link the concept to other constructs vary widely. The literature contains a multitude of different definitions, models, and measurement approaches. This article provides a broad overview, analysis, and critical evaluation of the different trends and approaches found to date in this research field, encompassing the development of perceived and desired customer value research, the relationships between the CV construct and other central marketing constructs, and the linkage between CV and the company interpretation of the value of the customer, like customer lifetime value (CLV). The article concludes by pointing out some of the challenges this field of research will face in the future.
   
type journal paper
   
keywords Customer Value, Desired Customer Value, Perceived Customer Value, Consumer Behaviour
   
language English
kind of paper journal article
date of appearance 10-3-2008
journal Journal für Betriebswirtschaft
publisher Springer
volume of journal 58
number of issue 1
page(s) 1-20
review double-blind review
   
citation Maas, P., & Graf, A. (2008). Customer Value from a Customer Perspective: A Comprehensive Review. Journal für Betriebswirtschaft, 58(1), 1-20.