This article aims to investigating the effects of perceived quality, risk and relative price on the perceived value and purchase intentions of mobile phones. The population comprises 293 persons of Business Administration MA students from the Islamic Azad University of Zanjan.

The questionnaires were validated using face validity. In addition, the reliability was calculated using Cronbach Alpha, Split-half and Test- re-test. To analyze the data, with SPSS and LISREL software, Exploratory and Confirmatory Factor Analyses (to identify the effective factors) and Structural Equation Modeling (SEM) (to test the hypotheses) were calculated

The findings indicate that perceived value does not influence purchase intentions. Perceived quality, perceived relative price and perceived risk do not influence purchase intentions through perceived value. Perceived risk, perceived quality and relative price all influence perceived value. Relative price influences perceived product quality and the latter, in turn, affects perceived risk. The results of the study show that it is essential to develop an understanding of value in the purchasing process. Moreover, the risk should be reduced to a minimum.