Determinants of customer perceived value in the indian renewable energy market

Value analysis or Customer Perceived Value analysis means determining what the customer seeks in a seller-buyer relationship from a product or service. The concept is regarded as an essential factor for the firm's business success and is identified as an important source of competitive advantage in the firm's marketing strategy. This research paper identifies and proposes the factors determining the customer perceived value that govern business decisions such as supplier selection, allocation of business share and supplier retention for power electronics components such as wind turbine frequency converter, solar inverter and power conversion systems used in renewable energy systems. The findings are based on an exhaustive study of available literature on customer perceived value and renewable energy. Product Quality, Price, Innovation, Brand Reputation/Corporate Image, Service Quality, Delivery, and Ease of Doing Business/Personal Interaction emerged as key determinants of customer perceived value in the Indian renewable energy market.