Test of a theoretical model on the perceived value of a product price

Abstract

This study aims to test a theoretical model proposed by De Toni and Mazzon designed to measure the price perceived value of a product or service. Then, we assess the impact of various antecedent dimensions - functional, emotional (positive and negative), justice, axiomatic, symbolic and social - on the price perceived value and the effect on purchase intention. Scale items were defined to measure the constructs in the model, which were purified through statistical tests and analyses applied to two pilot researches. The proposed scales were tested for reliability and validity through a confirmatory factor analysis on a sample of 337 valid cases. Analyses of the theoretical model adjustment indicators and the proposed hypotheses confirm that the results yielded are valid and reliable. In terms of theoretical contribution, this study demonstrates how to operationalize the proposed model and its scales, measuring the relative impact of each construct on the price perceived value and the effect on a product or service purchase intention.