Which of the following statements is true about perceived value?

Question

Quizplus · Accepted Answer

Perceived value is always relative and subjective as it depends on individual customer preferences and past experiences. It can differ based on factors like brand name, product features, quality, and customer service. Therefore, there is no single perceived value in the marketplace, and it can vary among customers. Value pricing, on the other hand, involves setting a price that is lower than the perceived value to increase sales and market share. Similarly, perceived value is not standard across customers with similar purchasing power as they may have different expectations from a product based on their needs and preferences.

Which of the Following Statements Is True About Perceived Value