Perceived Value

Posted in Marketing and Strategy Terms, Total Reads: 453

Definition: Perceived Value

All products have two types of value- one marketed by the company and the other accepted by the customers. The value taken up by the customers depending on the price, quality and value of the product in consumers’ mind is termed as Perceived Value. Perceived value can be more or less than the company marketed value depending upon the knowledge that the customer has about the product’s manufacturing.

Thus if companies employ marketing strategies if they want to increase the perceived value of their products.

Eg: Deodorants are sold on the concept of perceived value. All the brands try to differentiate by providing even very little changes in the product.



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