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The purpose of this paper is to test the consumer‐perceived value of non‐traditional media, and the moderating effects of brand reputation, appropriateness and expense.

The approach takes the form of an experimental study of six (real) campaigns, manipulating media type and brand reputation (with appropriateness and expense measured within subjects).

Non‐traditional media enhance consumer‐perceived value. The effects are greater for low‐ than for high‐reputation brands. High‐reputation brands are more sensitive to the appropriateness and expense of the marketing. Consumer‐perceived value leads to higher purchase and word‐of‐mouth intentions.

The analysis of the mediating effects of consumer‐perceived value is exploratory and requires follow‐up. Being a first test of the effects of non‐traditional media, no discrimination was made between different types. This requires further attention.

The paper shows that non‐traditional media enhance the consumer‐perceived value of marketing, and suggests that consumer‐perceived value is important in generating purchase and word‐of‐mouth intentions. The approach also gives advice with respect to brand reputation, budget (expense) and appropriateness of marketing.

The paper is a first academic test of non‐traditional media/guerrilla marketing; it argues that marketing must generate consumer‐perceived value in order to be successful and finds support for this; and employs previously neglected (but highly current) variables such as appropriateness and expense. The paper is valuable in its high action‐orientation.