The scale captures perceived value for money and price fairness of a product, a foundational measure in pricing and value-perception research.
7-point semantic differential
Full scale items shown. Always cite the original source when using this scale in research.
Yao, Oppewal, and Wang (2020) built this scale by drawing wording and concepts from Grewal, Marmorstein, and Sharma (1996), who themselves drew heavily on earlier measures of the construct; used with US MTurk participants. Reliability was good (α = .88). Validity wasn't discussed. This is a companion to another scale from the same paper already on this site, Product Price and Volume Simultaneous Changes (Typicality). This site also has a differently constructed 'Value of the Product' scale from Chu, Chang, and Lee (2021) — the two are distinct measures despite sharing a name.
Yao, Jun, Harmen Oppewal, and Di Wang (2020), "Cheaper and Smaller or More Expensive and Larger: How Consumers Respond to Unit Price Increase Tactics that Simultaneously Change Product Price and Package Size," Journal of the Academy of Marketing Science, 48 (6), 1075–1094.
Free access to 2500+ psychometric scales at PsychScales