Consumer Value: A Framework for Analysis and Research

Consumer Value: A Framework for Analysis and Research

Consumer Value: A Framework for Analysis and Research

Consumer Value: A Framework for Analysis and Research

Synopsis

Consumer Value is one of the few books which attempts to define and analyze exactly what it is that consumers want. The theme of "serving" the customer and customer satisfaction is central to every formulation of the marketing concept. The major types of value are identified and related to one another through an innovative framework based around eight concepts: efficiency, excellence, status, esteem, play, aesthetics, ethics, and spirituality.

Excerpt

This chapter introduces a volume that brings together scholars from diverse areas to address the nature and types of consumer value. Specifically, the Introduction proposes a framework to distinguish among eight key types of consumer value that appear to deserve consideration in the analysis of consumption-related behavior. These eight types refer to different aspects of consumption that have attracted the attention of various scholars in the field. Subsequently, distinguished researchers in these areas of inquiry will discuss whether and how their concerns fit into the proposed framework, offering further insights into the applicability of the Typology of Consumer Value across a broad range of research topics. In sum, this Introduction presents a systematic consideration of the proposed framework and thereby provides the basis for a subsequent critical evaluation of the framework’s usefulness as an integrative scheme and for a further development in succeeding chapters of its relevance to issues concerning more specific types of consumer value.

Background

The marketing context

If we follow Kotler (1991) by viewing marketing as a managerial process concerned with the facilitation and consummation of exchanges and by defining the exchange of interest as a transaction between two parties in which each party gives up something of value in return for something of greater value, we recognize immediately that consumer value plays a crucial role at the heart of all marketing activity and therefore clearly deserves the attention of every consumer researcher. First, if we ignore potential externalities or possible third-party effects created by marketing exchanges (as in the case of noise pollution from one’s Harley-Davidson disturbing other residents on the block, second-hand smoke from one’s Marlborough choking other diners at the restaurant, or pollution from one’s gasoline making the planet uninhabitable by other members of the human species), the Kotlerian perspective just described provides a built-in ethical

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