Theory of consumption values in consumer behaviour research: A review and future research agenda

Current marketing philosophy is value‐oriented, whereas marketing theory explaining value from the consumer perspective is limited. The theory of consumption value (TCV) is a marketing theory that provides insight into the motivation for consumers' consumption behaviour through consumption values. Although it offers theoretical explanations about consumer behaviour on a large scale, there is no single article in the literature providing comprehensive and integrated knowledge of TCV and a future research agenda based on a systematic literature review. The main aims of this paper are to present integrated knowledge and provide propositions for future research. This review research covers peer‐reviewed journal articles that used this theory and were published between 1991 and 2020. The major findings in the review demonstrate that this theory has remained up to date in the consumer behaviour literature, has been dynamic and has been comprehensively used to explain choice behaviour. Thus, further understanding has been provided for consumer behaviour related to drivers of consumption, although some issues require further examination. Directions for future research are developed in more detail to encourage and advance the understanding of value through TCV.