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 a rating used by customers in choosing a new restaurant in which to dine.
D) is what customers believe a menu item is worth.

Question

Quizplus · Accepted Answer

Perception of value refers to what customers believe a menu item is worth. This understanding helps managers determine the appropriate prices for menu items that align with the perceived value of customers.

Perception of Value