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What is Customer Perceived Value? Is it important? Why or why not? What are determinants of Customer Perceived Value? Explain them with example. Answer To the Question No Customer perceived value can be referred to as a process in which the customer judges the credit of the product and service according to the wants and needs of the consumer. In this, the customer also compares the product with its rival or competitor’sproduct. Example of perceived value marketing strategy:The best example is android versus iPhone, the android phone comes under the basic quality as well as in high quality but iPhone refers to a status symbol. Apple increases its price and the high price is referred to the premium quality of the product so the customer happily pays extra to feel superior similarly and automobiles the perceived value strategy works in the same manner. Perceived valueis important becauseit helps the product to stand out from the race between the product and its rivals. After all, there is high competition in the market for the