Consumer perceives value based on the evaluation of the utility of a product or service for price sacrificed (Zeithaml, 1988). Simply it is a trade-off between benefits acquired and perceived costs (Christopher et al., 2015). A consumer perceives value if perceived benefits are higher than the price sacrificed. Kuo, Wu and Deng (2009) have described consumer perceived value as consumer surplus which is resulted by subtracting highest price that consumers intended to pay by the actually paid amount for a product. According to means-end theory, consumer perceives value is dependent on two important dimensions quality and price of product/service (Monroe, 2003). (Dodds et al., 1991) also, suggest that value is an assessment regarding what consumers obtain at the cost of what they give up. Consumer perceived value is studied by (Grewal et al., 1998) into two dimensions: perceived acquisition value and perceived transaction value. Perceived acquisition value is related to perceived gains from the products/services, and perceived transaction value is related to psychological satisfaction or pleasure (Grewal et al., 1998). (Holbrook, 1999) has studied value based on three dimensions: self-oriented/other-oriented, active/reactive, and extrinsic/intrinsic. Petrick and Backman (2002) have proposed five dimensions scale which includes: non-monetary price, monetary price, emotional response, reputation, and quality.