Perceived Value

Perceived value is the consumer’s overall evaluation of the worth of a product based on perceptions of what is received and what is given (Zeithaml, V. A. 1988). Literature review has recognized that perceived value has been conceptualized as what consumers get for what they give (Baker et al, 1994; Zeithaml, 1988). However, Sweeney and Soutar (2001) recommended a more supplicated measure is looked-for the understanding how customers evaluate products and services. Therefore, Sheth el al. (1991) had build a boarder theoretical framework of perceived value toward customer choices as a purpose of several ‘consumption value’ dimensions and that these dimensions make varying contribution in different choices of situations. They suggested five

Researchers have describe the mechanism of customer satisfaction with several theories, such as expectancy-disconfirmation theory, contrast theory, assimilation or cognitive dissonance theory, equity theory, and three factor theory. Among them, the mainly accepted theory is the expectancy disconfirmation theory. According to this theory, customers’ satisfaction assessment is the outcome of comparisons among customers’ expectations and perceived performance. If the perceived performance exceeds the expectation, the expectation is positively disconfirmed and the customer is satisfied (Olivier, 1981). On the other hand, if the perceived performance below the expectation, the expectation is negatively disconfirmed and the customer is dissatisfied. Nevertheless, zero disconfirmation occurs when perceived performance is just equal to expectation and customers are likely to be satisfied (Olivier, 1981). Oliver (1980) also has claimed that disconfirmation alone is not sufficiently to explain satisfaction responses. He has proposed that satisfaction is also directly pre-choice expectations, independently of the effect of

This theory claims that three independent satisfaction factors influence customer satisfaction in different ways (Kano, 1984). First, basic factors (dissatisfiers) are minimum requirements for satisfaction. Failure to fulfill the minimum requirements causes dissatisfaction, whereas fulfilling or exceeding them does not necessarily lead to satisfaction. Next, excitement factors (satisfiers) increase customer satisfaction if delivered but do not cause dissatisfaction if not delivered (Matzler and Sauerwein, 2002). Moreover, performance factor (hybrids) lead to satisfaction if performance is high while it causes dissatisfaction if performance is low (Fuller & Matzler, 2008). This theory has been validated by empirical studies and could provide an additional perspective for understanding the effects of restaurant attributes on customer