Economic influences on perceived value, quality expectations and customer satisfaction

Björn Frank, Takao Enkawa

Research output: Contribution to journalArticlepeer-review

15 Citations (Scopus)


Consumer research has extensively analysed psychological determinants of customer satisfaction. As macro-level customer satisfaction data were not available until recently, researchers have only taken first steps towards analysing economic determinants of customer satisfaction. Based on a more complex conceptual framework and on data from Germany and Japan, this article examines how economic processes influence the perceived value of goods and services, quality expectations and customer satisfaction. Using principal component analysis, regression analysis and structural equation modelling, this study finds that perceived value is positively influenced by both economic growth and lagged economic expectations. Customer satisfaction is positively influenced by economic growth and negatively by current economic expectations, with half of the impact mediated by perceived value. Economic expectations positively influence expectations regarding the quality of goods and services. These results imply that consumer researchers should no longer ignore economic influences on consumer attitudes. Marketing managers are advised to be cautious not to misinterpret economic-induced variations in customer satisfaction as caused by corporate performance.

Original languageEnglish
Pages (from-to)72-82
Number of pages11
JournalInternational Journal of Consumer Studies
Issue number1
Publication statusPublished - 2009 Jan
Externally publishedYes


  • Customer satisfaction
  • Economic expectations
  • Economic growth
  • Perceived value
  • Quality expectations

ASJC Scopus subject areas

  • Applied Psychology
  • Economics and Econometrics
  • Public Health, Environmental and Occupational Health
  • Marketing


Dive into the research topics of 'Economic influences on perceived value, quality expectations and customer satisfaction'. Together they form a unique fingerprint.

Cite this