Value remains a prominently studied concept in marketing with the personal shopping value (PSV) scale by Babin et al., being one of the most applied tools to assess the value in any form. While the concept of perceived value continues to evolve, questions still prevail. This research note implements a meta-analytical approach to provide further insights into the interplay between utilitarian and hedonic value. Results confirm a positive effect between utilitarian and hedonic value, questioning the common assumption that the dimensions are at opposing ends of a value spectrum. Meta-regression results explore potential boundary conditions in an effort to explain heterogeneity. Survey-type emerges as a moderator with larger relationships for online surveys than for surveys taken through non-electronic surveys. Furthermore, findings support positive connections between utilitarian value as well as hedonic value and customer satisfaction. The findings also suggest significant substantial heterogeneity helping to further the motivation to continue research into perceived value in an effort to further normative guidelines for managerial application.
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