KOREASCHOLAR

To date, in various methodological and theoretical domains, consumer value has been investigated to provide a comprehensive analytical framework that encompasses the full range of consumption-related phenomena. Consumer value is regarded as an important marketing concept since it deals with an issue closely related to the product positioning and competitive advantages (Woodruff, 1997). In the current marketplace, brands have often collaborated with retailers to extend their products and gain a competitive advantage in positioning the products effectively in the targeted market. Therefore, it is important for brands to understand how consumers perceive extended products when they are sold in retail stores so that they can locate the perceived position closer to the ideal point of a target segment. Thus, this study aims to examine measurement invariance in measures of consumers’ perceived value and its effect on prediction to allow researchers to compare predictions across groups. Drawn from a theory of consumption values (Sheth, Newman, & Gross, 1991) and related literatures, this study considered perceived value as a multidimensional construct as well as the expected outcome of an evaluative judgment. Likert-type items with seven-points were used for measuring four latent factors including social value, monetary value, convenience value, and epistemic value. Using a total of 869 data from participants in the U.S., multigroup confirmatory factor analysis was performed to examine measurement invariance of consumers’ perceived value for two groups using different types of brand and retailer collaborations. The high-end brand and low-end retailer group had 444 participants, and the low-end brand and high-end retailer group had 425 participants. Based on the sequential testing procedure, the current study confirmed the consistent structure of the measurement instrument of consumers’ perceived value across groups. However, the factorial invariance of monetary value could not be established. The findings of this study contribute to providing insights on the methodological perspective by investigating whether or not the measurements of consumers’ perceived value yield measures of the same qualities in different shopping contexts.

• Hyo Jin Eom(Korea University, Republic of Korea)
• Laura (Zhenqiu) Lu(University of Georgia, USA)