In respect of an increased global competition the customer value (CV) concept has been considered as an effective strategic rationale by researchers and practitioners alike. However, neither its theoretical conceptualization nor its practical implementation has been unambiguously defined. In this paper we propose a CV framework and study the effect of perceived customer value anticipation (CVA) on word-of-mouth (WOM) mediated by cognitive and conative loyalty. By including the construct power distance as a moderator we delineate the effect of cross-cultural differences regarding our proposed framework. To collect the necessary data, insurance customers from 17 countries have been surveyed.
