Perceived value among Cluj-Napoca automobile owners

The concept of perceived value is considered an important strategic part used by companies to attract and retain consumers. In order to achieve profitability, any company should be aware of the manner in which perceived value influences the consumers' behavior. The purpose of this study is to create and test a conceptual model that includes the relationships between perceived value, satisfaction and loyalty. This model will be used to measure the relationships between the constructs included. The data were collected from 182 persons that are living in Cluj-Napoca and owning at least one automobile. The findings show that functional value and emotional value have a direct a positive influence on satisfaction, and social value has a direct and positive influence on loyalty. In addition, the influence of satisfaction on loyalty is positive and direct. Finally, satisfaction partially mediates the relationships between functional value and loyalty and emotional value and loyalty. This study contributes to the value literature by providing a framework of perceived value in the automobile industry, and this is one of the first studies regarding the concept of perceived value among automobile owners from Romania.