Given the present dynamic consumption environment due to technological innovations as well as interlinked economic developments on the macro-, micro-, and societal-level, researchers and managers have been increasingly showing interest in the concept of customer perceived value. However, especially given its vast empirical application, surprisingly little effort has been paid to synthesize various perspectives on the dimensionality, abstraction, and model taxonomy of customer perceived value. Therefore, based on a comprehensive literature review, this article identifies the predominant conceptualization of customer perceived value, thus also providing a sound basis for future empirical assessments of this concept, and discusses avenues for future research. In addition to contributing to research, this study also contributes to practice by comprehensively positioning customer perceived value as a key source of competitive advantage in the context of relationship marketing, management, and business models.