The purpose of this study was to extend the examination of alternative conceptual models of perceived quality. The specific models examined were performance-based models and the Zone-of-Tolerance model. First, the authors specify the alternative models along with broadening the theoretical conceptualization of the Zone-of-Tolerance model and its diagnostic value under several theoretically possible scenarios. Second, empirical models comparison tests are conducted. The empirical tests indicate considerable support for the parsimonious performance-based models of perceived quality in predicting perceived value and purchase intentions. However, evidence was found that the performance standards components of the Zoneof- Tolerance model may increase the explanatory power of performance-based models in the prediction of consumer satisfaction. © 2004 Sage Publications, Inc.