engleski

Concept of perceived value with focus on perceived costs of convenience goods

Many marketers (eg. M. Porter, Woodruff, Zeithaml) point out that creating superior value for consumers represents the key element in ensuring company’s market success. For each company it is important to identify which factors determine the level of perceived value of its current and potential consumers because the improvement of product /service can be achieved only with the improvement of these factors. In theory, two approaches are known in the conceptualization of perceived value for consumers. The first of these explains and analyzes perceived value as a construct composed of two parts - received benefits and incurred costs, while the second approach looks at the value as a multidimensional construct. Since convenience goods participate with more than 30% in total consumption in countries of the region, it is important to explore characteristics of perceived value of this product category. The perceived costs are the real challenge, as they are poorly researched and analyzed, while they increase the total purchase costs. Convenience goods are frequently used products and shopping is routine, with small consumer involvement. However, opening retail outlets on cities’ outskirts increases cost of travel to a convenience goods shop. Hence, in this paper, authors will investigate the construct of perceived value, with a special focus on analysis of perceived value factors in the convenience goods market.

perceived value; perceived cost; convenience goods

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