BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Kotler and Kelly (2006) stated that Customer Perceived Value is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.

Detailed explanation-2: -What is the customer’s perceived value? CPV is a merit of what customers and prospects think of your product or service and how much they are willing to pay for it. In other words, to what extent your product meets the customer’s criteria compared to its costs = perceived benefit minus price paid.

Detailed explanation-3: -Customer-perceived value is thus based on the difference between benefits the customer gets and costs he or she assumes for different choices. The marketer can increase the value of the customer offering by raising economic, functional, or emotional benefits and/or reducing one or more costs.

Detailed explanation-4: -Customer-perceived value refers the customer’s evaluation of the difference between all the benefits and all the costs of market offering relative to those competing offers. Importantly, customers often do not judge values and costs “accurately” or “objectively”. They act on perceived value.

Detailed explanation-5: -Customer Value, also known as customer-perceived value shows the difference between customers’ perceived evaluations of the benefits versus the product cost.