Customer Perceived Value

Posted in Marketing and Strategy Terms, Total Reads: 11964

Definition: Customer Perceived Value

It is the value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer perception and the cost that he had to pay for that. The customer will buy the same product again only if he perceives to be getting some value out of the product. Hence delivering this value becomes the motto of marketers.

Perceived Value = Total Perceived Benefits – Total Perceived Costs

Please note that the benefits and costs also include the emotional benefits and costs.

For Example: While buying a car, the expected reactions from family and friends also become a part of benefits or gain.


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