Deciphering Customer Perceived Value a Comparative Study using Holbrook's Typology across Brands in Visakhapatnam

Abstract

This study explores the intricate landscape of customer perceived value through a comprehensive examination of theoretical frameworks and empirical analyses. Drawing on model named Holbrook's Typology, the research investigates the multifaceted dimensions that shape consumers' assessments of value with a sample size of 168 in Visakhapatnam city. Statistical analyses, including Chi-Square Tests and the Kaiser-Meyer-Olkin Measure, affirm the robustness of the study, revealing significant associations within constructs such as Extrinsic Value Assessment, Intrinsic Value Assessment, Self-oriented Value Assessment, Other-oriented Value Assessment, Active Value Engagement, and Reactive Value Assessment. The nuanced interpretation of the findings, acknowledging instances of rejected null hypotheses, provides actionable insights for brand marketers. The study suggests strategies for marketers to enhance customer perceived value, ranging from elevating intrinsic value through user experience to tailoring offerings based on self-oriented and other-oriented values. Emphasis is placed on active engagement, positive word-of-mouth, and strategic partnerships, offering a roadmap for creating meaningful connections with consumers. This research contributes not only to theoretical understandings of customer perceived value but also provides practical guidance for marketers navigating the complex landscape of consumer preferences. By aligning strategies with the identified dimensions of perceived value, brand marketers can cultivate dynamic relationships, foster loyalty, and navigate the evolving market with strategic precision.