Value is simply an evaluation of price against quality.

Question

Quizplus · Accepted Answer

recognise that marketing involves a mutually beneficial exchange of value. The idea that value is a ratio between quality and price is a simple view of value to help you to understand the concept. Marketers know that the idea of value is more complicated. Value refers to the 'total offering'. This includes all aspects, from the reputation of the organisation to how the employees act, the features of the products, the after-sales service, quality and price.

Value Is Simply an Evaluation of Price Against Quality