The customers perceived value on the IPhone - Essay Example

Extract of sample
The customers perceived value on the IPhone

This research will begin with the explanation of what the customer value is. Based on Grewal et al, and Petric and Backman’s notion it can be argued that the iPhone’s CPV is conceptualised in two dimensions i.e. Acquisition and Transactional value. The suggestion is that customers are rational economic decision-makers who process information in order to maximize value; as such, customer value is principally conceptualised as a trade-off between the price of the iPhone and its quality. Sheth et al’s “five Values” conceptual framework questions the economic assumption that consumers evaluate purchase and usage decisions with a calculator-like approach. Instead Holbrook and Hirschman proposed the experiential approach and introduced new concepts such as feelings, fantasies, and fun. Rather, consumer decision processes embrace complex motivation that includes both intrinsic and extrinsic values. Woodruff defines customer value as the emotional bond established between customer and producer after the customer has used a salient product or service produced by that supplier and found the product to provide an added value. In other words, customer value is determined by the customer rather than objectively determined by the seller. The consumer behaviour is "The study of individuals, groups, or organisations and the processes they use to select, secure, use, and dispose of products, services, experiences, or ideas to satisfy needs and the impacts that these processes have on the consumer and society. ...
Download paper


The idea of this research emerged from the author’s interest and fascination in how consumers are increasingly shifting from traditional mobile phones to smart phones. The author will attempt to identify and analyze customers’ perceived value of one specific type of smart phone - the IPhone. …
Author : kaycee33
Download 2

Related Essays

Research Methods in Business and Economics
19 pages (4769 words) Essay
Research Methods
8 pages (2008 words) Essay
Research Methods
6 pages (1506 words) Research Paper
research methods
10 pages (2510 words) Essay
Research Methods
10 pages (2510 words) Assignment
Research Methods in Management
8 pages (2008 words) Assignment
Market Research Techniques & Research Methods
16 pages (4016 words) Case Study
The major challenges for China; Why the past successful export-led growth model cannot continue; How the Chinese economy should be further reformed.
5 pages (1255 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!