BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Customer’s evaluation of the difference between all the benefits and all the costs of a marketing offer relative to those of competing offers refers to Customer perceived value.

Detailed explanation-2: -Real value refers to how much it cost to produce the product, how useful it is to the buyer and how much value its individual components have. Perceived value is a more abstract measurement that represents how much customers feel a product is worth.

Detailed explanation-3: -Posted on: September 1, 2022. Perceived value indicates how much a customer is prepared to pay for a product or service. This is determined by a product or service’s ability to meet the customer’s needs and inspire desire, especially in comparison with competitors.

Detailed explanation-4: -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-5: -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.