Marketing scholars define perceived value as a "subjective perception''of the tradeoff between multiple benefits and sacrifices, relative to competition.

Question

Quizplus · Accepted Answer

Perceived value is indeed considered a subjective assessment by consumers, weighing the benefits they receive from a product or service against the sacrifices they make (such as cost), and this evaluation is often made in comparison to competing offerings.

Marketing Scholars Define Perceived Value as a "Subjective Perception''of the Tradeoff