Development of a Multi-Dimensional Scale for Measuring the Perceived Value of a Service

TLDR

The construct of perceived value is a key competitive advantage indicator and predicts repurchase intentions, with implications for recreation and tourism. The study aimed to develop a multidimensional scale to measure perceived value of a service. A 25‑item instrument was created to assess the construct and its dimensions. Five dimensions were identified, validated by experts, and the instrument demonstrated reliability, convergent, and discriminant validity.

Abstract

The construct of perceived value has been identified as one of the most important measures for gaining competitive edge (Parasuraman, 1997), and has been argued to be the most important indicator of repurchase intentions (Parasuraman & Grewal, 2000). Thus, the measurement of perceived value may have far reaching implications for the recreation and tourism fields. The purpose of the current study was to develop a multidimensional scale for the measurement of perceived value of a service. A 25-item instrument was developed to measure the construct and its dimensions. Five dimensions were identified, and were found to have content validity by a panel of experts. The instrument was further found to be reliable, and have convergent, and discriminant validity.