In recent years, as the concept of customer value has attracted raising attention among marketing researchers and practitioners, more enterprises start to take customer value strategies in order to increase profits and ensure sustainable development. Basically, the variety of customer value has been brought by the differences between customer expected value (CEV) and customer perceived value (CPV). This paper analyzes systematically the discrepancy between CEV and CPV in three aspects, including characteristics, structure and influence factors, combined with theories of customer satisfaction and customer behaviors, constructs a measurement framework on the differences between CEV and CPV, which are composed of differentiated model and impact factors model. These models are tested using data from a survey among 220 college students in mobile phone market. The findings of this article are directions for future research and managerial implications.