| A Model of Customer Value (MCV) is proposed to examine perceptions of economic and experiential value derived from home shopping. Economic value which reflects an assessment of the tradeoff between price and product quality, was found to be less influential in shaping retail satisfaction, preference and patronage intent than was experiential value. Experiential value is derived from perceptions of home shopping efficiency, service excellence, aesthetic appeal and the playfulness inherent in the shopping experience.; Two models of customer value were tested, the first predicting the satisfaction response, the second, retail preference. While both models evidenced acceptable fit to the data, the Preference Model of Customer Value was favored, as it provided a better extension of current theory.; The shopping experience of catalog customers was contrasted with those shopping through an Internet environment, with the finding that perceptions of value differed significantly. In general, the Internet shopping experience appeared to be slightly more functional in nature--characterized by perceptions of efficiency and economic value while the catalog shopping environment delivered the efficiency and economic value of the Internet as well as heightened perceptions of aesthetic appeal and playfulness. Study limitations and future research directions are discussed. |
