Value is based on a customer's perception of quality, appearance, and price.

Question

Quizplus · Accepted Answer

Value is determined by the customer's perception of the product's quality, appearance, and price. This means that a product can have a high perceived value even if it is not the cheapest option, as long as the customer believes that it is worth the price. Conversely, a product can have a low perceived value if the customer feels that the quality or appearance is lacking, even if it is priced competitively.

Value Is Based on a Customer's Perception of Quality, Appearance