The value drivers of high-tech consumer products

Abstract

This study investigates the influence of the customer-value hierarchy model and social network on the perceived economic value of high-tech consumer products. This quantitative empirical study was conducted among Finnish households in early 2008 using the form interview method. The non-probability quota sampling method was applied. The data consisted of 453 completed questionnaires. Hypothesis testing was conducted by linear multiple regression analysis. Goal-, consequence-, and attribute-level value perceptions were found to have a positive effect on the perceived economic value of high-tech consumer products. Attribute-level value had the strongest effect on the formation of perceived economic value. Although the network effect was found to contribute positively to perceived economic value, the opinions of others in the consumer's social network had a negative effect. Consumers seem to rationalise the buying decision with personal factors, while social factors have a background effect on value perceptions.