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RESEARCH PRODUCT

Towards a Theoretical Clarification of Perceived Value in Marketing

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Perceived value by consumers takes on particular importance in the current thinking of managers and marketing researchers. However, the variety of research and the absence of a unified theoretical framework call for further clarification. This paper therefore sets out to identify, on the basis of definitions of and approaches to value, criteria for categorizing and characterizing the notion of perceived value. A comparison with other similar concepts then allows it to be considered within a nomological network. Finally, the managerial implications of perceived value are discussed.