Service quality: perceived value, expectations, shortfalls, and bonuses

Focuses on the perceived value of a service by a customer, the perceived quality and value of a service, and the role of expectations, shortfalls, and bonuses in the valuation process. Considers on the implications of key relationships in the marketing and delivery of services. Characterizes customer perception of the perceived value of a service and quality of service in multivariate space. This model yields a value vector that summarizes the perceived value of a service and service quality to a customer. The perceived value vector summarizes the aggregate effects of variables of influence on perceived value. Relates service delivery to customer expectations. In this context, illuminates important issues related to exante versus ex post expectations. Introduces the concept of expectations‐delivery variance (EDV). Examines the concept of delivery shortfalls as well as delivery excess, with excess leading to bonus fulfillment. Shortfalls and bonuses have residual effects. Asserts that shortfalls and bonus effects have asymmetric affects in terms of residual influence on future perceptions of customer expectations of service value.