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Explaining Market Heterogeneity in Terms of Value Perceptions

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  • David Martín Ruiz
  • Carmen Barroso Castro
  • Enrique Martín Armario

Abstract

In the past decade, companies and academics have become aware of the great benefits of creating value for customers. However, little empirical research has yet been conducted in the area of services with respect to how customers may differ in their perceptions of value and what variables can explain such differences. This article provides an insight into how three relationship-based contingencies are likely to explain market heterogeneity in customers' perceptions of value. In particular, we explore how special treatment of the customer by the service provider, the level of customer involvement with the service, and the customer's accumulated experience with a particular company may act as predictors of market heterogeneity in the customer's perceptions of value within a service setting. Results offer evidence for the important role of relationships and experience in a service context mainly characterised by standard encounters, and provide interesting managerial insights to tailor strategies that effectively respond to market heterogeneity.

Suggested Citation

  • David Martín Ruiz & Carmen Barroso Castro & Enrique Martín Armario, 2007. "Explaining Market Heterogeneity in Terms of Value Perceptions," The Service Industries Journal, Taylor & Francis Journals, vol. 27(8), pages 1087-1110, December.
    • Handle: RePEc:taf:servic:v:27:y:2007:i:8:p:1087-1110
    DOI: 10.1080/02642060701673760
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    Cited by:

    1. Alexiev, Alexander S. & Volberda, Henk W. & Van den Bosch, Frans A.J., 2016. "Interorganizational collaboration and firm innovativeness: Unpacking the role of the organizational environment," Journal of Business Research, Elsevier, vol. 69(2), pages 974-984.
    2. Floh, Arne & Zauner, Alexander & Koller, Monika & Rusch, Thomas, 2014. "Customer segmentation using unobserved heterogeneity in the perceived-value–loyalty–intentions link," Journal of Business Research, Elsevier, vol. 67(5), pages 974-982.
    3. Picón-Berjoyo, Araceli & Ruiz-Moreno, Carolina & Castro, Ignacio, 2016. "A mediating and multigroup analysis of customer loyalty," European Management Journal, Elsevier, vol. 34(6), pages 701-713.
    4. Shukla, Paurav & Purani, Keyoor, 2012. "Comparing the importance of luxury value perceptions in cross-national contexts," Journal of Business Research, Elsevier, vol. 65(10), pages 1417-1424.
    5. Jerry Yuwen Shiu, 2018. "Individual rationality and differences in Taiwanese spa hotel choice," Tourism Economics, , vol. 24(1), pages 27-40, February.
    6. Kaufmann, Simon & Künzel, Karoline & Loock, Moritz, 2013. "Customer value of smart metering: Explorative evidence from a choice-based conjoint study in Switzerland," Energy Policy, Elsevier, vol. 53(C), pages 229-239.

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