Development of measures to assess customer perceived value in a business-to-business context

This paper proposes and tests a set of measures to operationalize customer value in a business-to-business context. A classification of 13 drivers encapsulating the two dimensions of customer perceived value, benefit, and sacrifice is suggested which can act as the basis for the measurement of customer perceived value relevant to most business-to-business environments involving products, services, and relationships. First, the construct is circumscribed by raising five theoretical questions; then, it is conceptualized in terms of two dimensions, benefit and sacrifice, and 13 product-, service- and relationship-related drivers. Operational indicators are developed for each driver and tested with 209 organizational customers. An evaluation of the measurement properties within an analysis of covariance structure framework reveals that the operational measures developed satisfy to a high degree the criteria for unidimensionality, reliability and validity. Results suggest that 13 drivers underpin an understanding of the customer's value requirements in a business exchange.