Perception of value:
A)is what the manager believes should be charged for menu items.
B)is used by managers in determining the type of production equipment to purchase.
C)is what customers believe a menu item is worth.
D)is a rating used by customers in choosing a new restaurant in which to dine.

Question

Quizplus · Accepted Answer

Perception of value is the worth or value that customers assign to a product or service. It is based on the customer's perception of the benefits they receive compared to the price they pay. Therefore, option C is the best choice. Options A, B, and D are incorrect because they don't accurately define perception of value.

Perception of Value