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ISSN : 1229-8778
The aim of this study is to develop and to validate the Consumer Value Consciousness(CVC) Scale. The CVC scale is designed to identify the individual differences in the degree of interests in both the acquisition utility and transaction utility. Using responses of 471 participants, a series of factor analyses is performed to examine the factor structure of the CVC scale. The results confirm that the CVC supports a 2-factor structure with 6 items. The subfactors are named value searching and value confirmation, respectively. The construct validity of the CVC scale is explored by correlational analyses with other scales related to consumer decision making behavior. The value consciousness is positively correlated with the maximizing tendency and the analytical decision making style. The value consciousness tendency, however, is not correlated with deal proneness and price consciousness as expected. Finally, a further scenario-based study showed that the value consciousness was related to vulnerability to sunk cost. In conclusion, this study provides an abundance of explanations for consumers who are highly consciousness of value. Further implications and limitations are discussed.
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