Foundations of Marketing 6th Edition by William Pride,Ferrell

Exercise 16

There are seemingly hundreds of different cell phones available on the market today. How do consumers choose? The answer is simple: consumer value. Compare the value of an Apple iPhone and a Samsung Galaxy smartphone. Begin by identifying the benefits and costs that you consider when evaluating cell phones- factors like ease of texting, overall look and feel, or purchasing price. Assign a weighting coefficient to each factor that reflects its importance to you. You could use 0 - 5 , for example, with 0 meaning no importance whatsoever and 5 meaning absolutely important. Using the equation value = benefits ? costs, calculate the value for the iPhone and the Samsung Galaxy. Do these results match actual cell phone sales for the two products?