Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence
Abstract
Evidence from past research and insights from an exploratory investigation are combined in a conceptual model that defines and relates price, perceived quality, and perceived value. Propositions about the concepts and their relationships are presented, then supported with evidence from the literature. Discussion centers on directions for research and implications for managing price, quality, and value.
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Consumer value is a subjective perception.
“consumer value is a subjective perception”
From What drives subscribing to premium in freemium services? A consumer value‐based view of differences between upgrading to and staying with premium (2020) · cites this paper as Zeithaml, 1988
Zeithaml (1988) argued that while some consumers perceive value when the price is low, for others, value might represent a balance between quality and price.
“Zeithaml (1988) further argued that while some consumers perceive value when the price of the product or service is low, for others, value might represent a balance between quality and price.”
From What drives subscribing to premium in freemium services? A consumer value‐based view of differences between upgrading to and staying with premium (2020) · cites this paper as Zeithaml, 1988
Quality perceptions strongly predict consumer loyalty and premium purchase behavior.
“Chi et al. (2011) and Zeithaml (1988) emphasize that quality perceptions strongly predict consumer loyalty and premium purchase behavior.”
From A Study on Consumer Willingness to Pay for Premium Skincare Brands (2025) · cites this paper as Zeithaml (1988)
Price sensitivity diminishes when brands successfully convey performance and trust.
“Price sensitivity diminishes when brands successfully convey performance and trust (Zeithaml, 1988).”
From A Study on Consumer Willingness to Pay for Premium Skincare Brands (2025) · cites this paper as Zeithaml, 1988
When consumers view prices as justified by benefits, they are more willing to pay a premium.
“Lichtenstein et al. (1993) and Zeithaml (1988) suggest that when consumers view prices as justified by benefits, they are more willing to pay a premium.”
From A Study on Consumer Willingness to Pay for Premium Skincare Brands (2025) · cites this paper as Zeithaml (1988)
Empirical studies have found that perceived value positively impacts customer satisfaction in most cases.
“Empirical studies focused on the relationships between perceived value and customer satisfaction discovered that the perceived value positively impacts customer satisfaction in most cases [45,89,90].”
From Investigating the Impact of Critical Factors on Continuance Intention towards Cross-Border Shopping Websites (2019) · cites this paper as [45]
Perceived product efficacy and brand prestige drive consumers to favor premium options, while safety and transparency build trust.
“The literature indicates that perceived product efficacy and brand prestige drive consumers to favor premium options, while safety and transparency build trust (Zeithaml, 1988; Suki, 2016).”
From A Study on Consumer Willingness to Pay for Premium Skincare Brands (2025) · cites this paper as Zeithaml, 1988
Perceived value primarily captures the utilitarian outcomes of being in a relationship with a service provider.
“Typically conceived of as the result of a rational decision-making process (Zeithaml 1988), perceived value primarily captures the utilitarian outcomes of being in a relationship with a service provider.”
From Understanding and managing customer relational benefits in services: a meta-analysis (2020) · cites this paper as Zeithaml 1988
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- Authors
- Zeithaml, V. A.
- Affiliations
- Duke University (US)
- Corresponding author
- Zeithaml, Valarie A.
- ORCID
- Zeithaml, Valarie A.
- Venue
- Journal of Marketing
- Publisher
- SAGE Publications
- Published
- 1988-07
- Volume
- 52
- Issue
- 3
- Pages
- 2-22
- ISSN
- 0022-2429 (ISSN-L)
- 1547-7185
- OpenAlex
- W2046752514
- Cited by
- 18,292
- References
- 4
- Citations by year
- 2026: 921 · 2025: 1028 · 2024: 982 · 2023: 1052 · 2022: 1049 · 2021: 1011 · 2020: 1084 · 2019: 995 · 2018: 885 · 2017: 855 · 2016: 860 · 2015: 924 · 2014: 960 · 2013: 814 · 2012: 767
- FWCI
- 72.61
- Type
- journal article
- Language
- en
- Open access
- closed
- Locations
- Journal of Marketing (publishedVersion)
- Topics
- Social Sciences › Business, Management and Accounting › Marketing › Consumer Market Behavior and Pricing
- Social Sciences › Business, Management and Accounting › Organizational Behavior and Human Resource Management › Customer Service Quality and Loyalty
- Social Sciences › Business, Management and Accounting › Marketing › Consumer Behavior and Marketing Influence
- Keywords
- consumer perception, price, perceived quality, perceived value, price management, quality management, value management, consumer behavior
About these checks
Registry, retraction, Cites and statistics results are computed, not judged, with one exception: a printed reference that no index lists is read once by a model before it counts as a citation error. Claims are extracted by a model and kept only when their quote appears verbatim in the text; each cited source is then checked, with a model’s help, for whether it says what the claim relies on. Those verdicts can be wrong — read the claim’s quote and the cited source before relying on one.
Statistics and arithmetic are recomputed, not judged.
Confidence bands are shown only for fields calibrated on our annotated test set. None is calibrated yet, so no band is shown.
What counts as a claim ›How we measure confidence ›How we check this ›
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