Journal of Forest Economics > Vol 18 > Issue 2

Product quality and value from consumer perspective—An application to wooden products

Ritva Marketta Toivonen,
Suggested Citation
Ritva Marketta Toivonen (2012), "Product quality and value from consumer perspective—An application to wooden products", Journal of Forest Economics: Vol. 18: No. 2, pp 157-173.

Publication Date: 0/4/2012
© 0 2012 Ritva Marketta Toivonen
JEL Codes:M110 (Production Management)M140 (Corporate culture and Social responsibility)Q230 (Forestry)
Perceived product qualityQuality dimensionsPerceived product valueConsumersWooden furnitureWooden flooring and panelling products


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In this article:
Methods of analysis and data 


Product quality as perceived by consumers is studied with the use of empirical survey data on wooden flooring/panelling materials and on wooden furniture markets in Finland. The results indicate that consumers’ quality perceptions are consistent for the two product categories. Perceived product quality may be understood as a hierarchical structure, which consists of tangible and intangible dimensions, and is fairly consistent for different products. The most abstract dimensions are reflected in more specific sub-dimensions and product attributes. For consumers, the quality of the tangible product is more important than the quality of the product intangibles in the case of wooden products. Perceived product value is determined as customers’ judgement of the relationship between perceived product quality and price. It was also observed to be a two-dimensional structure with tangible and intangible dimensions. The observed dimensions of perceived product quality and value were logically linked.