Towards a model of the perceived value of innovation: The key role of perceived benefits ahead of the adoption process

Abstract

To better understand consumer behavior in the early stages of interaction with a new product, a theoretical model of perceived value formation for an innovation is proposed and tested. The quantitative study, conducted in the automobile sector on a sample of 828 consumers, demonstrates that the perceived value of a new product is influenced ahead of the adoption process by its perceived benefits but not by its perceived sacrifices. Similarly, individual variables do not directly influence the perceived value of the new product, but only its perceived attributes.