Gaining competitive advantage through customer value oriented management

Within the customer value literature there is a lacuna of theoretical frameworks and models that underlie consumers’ overall product valuation. This paper addresses this limitation and presents a model integrating consumer values, product benefits, and various costs of consumption. In the proposed model, benefits and costs are defined in terms of consumers’ perceptions in the activities of acquisition, consumption, and maintenance, as well as consumers’ expectation of value satisfaction before buying.