Abstract

The paper introduced new multidimensional perceived value and its impacts. This study aimed to analyze direct/indirect effect of perceived value dimensions (functional and relational value) on attitudinal and behavioral components of loyalty: satisfaction and behavior intentions to use retail bank services. Factor analysis indicated that functional service value, functional service quality, relational value of trust and relational value of commitment are the multi dimensions of perceived value. Step wise regressions analysis further observed that functional service value and relational value of commitment predict behavior intention. The result of the study also indicated that satisfaction fully mediates the relationship between relational value of commitment and behavior intention. The limitations of this study were discussed and suggestions for future research were also put forward.

Key words: Customer perceived value, customer satisfaction, behavior intention, functional value, relational value, young consumers, banking services.