Discussion and managerial implications
This study found that perceived product value has a
significantly positive influence on a customer’s willingness to
buy private label household cleaning products. Perceived
product quality and perceived relative price have significant
positive relationships with perceived product value, while
perceived risk has a significant (albeit weak) negative
relationship with perceived product value.
The study also identified further relationships between the
constructs which influence perceived product value. Perceived
relative price is positively related to the perceived product
quality, while perceived product quality is negatively related to
the perceived risk of private label household cleaning
products. In addition, it was found that perceived product
quality, perceived relative price and perceived risk all
influence a customer’s willingness to buy through the
mediation effect of perceived product value, and that
perceived relative price influences a customer’s perceived
product value through the mediation effect of perceived
product quality. Lastly, perceived product quality was found
to influence a customer’s perceived product value through
perceived risk of the product.
Hence, it was determined that our results correspond to
those documented by Sweeney et al. (1999).
This study highlights that customer perceived product value
is paramount in the decision process. Pricing, as a key