Value is an endless topic for Service Marketing and Consumer Behaviour. Research on Value is rich and deep both in its multidimensionality (intra-variable perspective) and its relationships with other variables (inter-variable), mostly Service Quality, Customer Satisfaction and Customer Loyalty.
Following recent calls, in the seminar several proposals will be shown, in different service settings (retailing and hospitality) encompassing both inter and intra approaches.
First, as a joint approach to both inter-and intra-perspectives, a second order construct of Value is proposed, and Customer Satisfaction is bifurcated into cognitive and affective, within the Value-Satisfaction-Loyalty chain. A causal model is tested with PLS upon a sample of 340 hotel guests, finding significant links between eight Value dimensions (Efficiency, Excellence, Status, Esteem, Entertainment, Aesthetics, Ethics and Escapism) on the second-order Value construct, and a significant Value- (doubled) Satisfaction-Loyalty chain.
Second, a different approach on Value in Retailing draws on the literature on the multidimensional richness of Perceived Value, to adopt a segmentation approach and explore segments of loyal consumers towards the retailer based on their value perceptions. Through a CHAID analyses made on 460 Spanish retail customers of grocery and home furnishing stores we identify differentiated consumer segments in terms of loyalty responses, through nine value dimensions (i.e. efficiency, service quality, product quality, emotional value, value for money, social value, aesthetic value, escapism and ethics).