Customer Satisfaction v. Customer Value

Are customer satisfaction and customer value interdependent  or mutually exclusive? Lets look at customer value first; which involves the relationship between benefits and the sacrifice necessary to obtain those benefits. In other words, how much a customer is willing to pay for a product or service. This payment is directly dependent on how much the customer values the benefits. Customer value is not a matter of high quality; rather customers tend to value goods and services that are of a quality they expect, and are available at prices that they are willing to pay. People will usually only buy something when they perceive it as a good value. They want to receive their money's worth, or else they will be left unsatisfied. This leads me to my point that customer value and customer satisfaction are interdependent. Customer satisfaction can be defined as the customer's evaluation of a good or service in terms of whether that good or service has met their needs and expectations. I view these needs and expectations as the same idea as the benefits of the product or service that the customer value concept refers to. When a customer is weighing the benefits of a possible purchase, I believe that they are also deciding on what their needs and expectations are. If these are not or cannot be met by the purchase, then the product or service has no value to the customer. The sacrifice to obtain the benefits of the product or service must lead to the satisfaction of the customer in order for it to be worth it.

Can satisfaction occur simultaneously with low customer value? If the customer value is low, then I don't see a real good chance at satisfaction. If you are making a purchase in which you do not value the benefits very highly then I do not see how the end result could leave you with a good feeling. I guess it could be possible if the benefits of the purchase end up surprising you with value that you had not expected, but you would have to be willing to take the chance with it first. For most people the amount of money given up for the small chance at satisfaction would be the determining factor.

Would you being willing to take a chance buying a product or service that has a small shot at exceeding your expectations greatly? What are the determining factors in this decision for you?