Purpose
The paper aims to address the issue of how customer value is created in the context of novel food products and how customer value influences product evaluation.
Design/methodology/approach
The study proposes a model formed by a series of causal relations among value (i.e. functional, social, hedonic, altruistic values) and cost perceptions (i.e. price, effort, evaluation costs, performance and product safety), their trade-offs (i.e. overall customer value) and product evaluation outcomes (i.e. satisfaction, trust).
Findings
Despite doubts about certain search (information), credence (safety) and experience (taste) attributes, perceptions about product quality, likeability and ethical image predominantly formulate customer value, indicating novel products’ potential to be evaluated positively by consumers.
Research limitations/implications
The proposed model advances knowledge in the context of product innovation. Contrary to past research that focuses on consumer attitudes towards a manufacturing technology and individual technology-specific risks and benefits, the customer value approach refers to novel product-related consumer attitudes conceptualized as overall customer value; the latter results from product-related value-cost trade-offs, leading towards specific consumer–product evaluations.
Practical implications
The customer value approach refers to the value from the adoption of a new product that underlies a relevant set of product attributes (e.g. quality, image, sustainability, price, convenience, taste, safety, etc.) Focusing on product attributes that generate gain – loss perceptions impactful on consumer – product evaluations is highly relevant for product managers concerned with new product development.
Originality/value
The originality of this work lies in the successful contextualization and testing of an inclusive model that comprises both emotional and rational components, operational at the product level, to generate substantial insights on the widely unexplored interplay between consumer – perceived customer value and the generation of consumer – product evaluation outcomes.