FUNDAMENTALS OF COMPUTER

Detailed explanation-1: -Definition: Perceived value pricing is that value which customers are willing to pay for a particular product or service based on their perception about the product.

Detailed explanation-2: -Third, value is what a customer gets in exchange for the price it pays. We see a market offering as having two elemental characteristics: its value and its price.

Detailed explanation-3: -A marketing exchange is what happens any time two or more people trade goods or services. In marketing theory, every exchange is supposed to produce “utility, ” which means the value of what you trade is less than the value of what you receive from the trade.

Detailed explanation-4: -With a consumers’ wants and resources (financial ability), they demand products and services with benefits that add up to the most value and satisfaction. The four types of value include: functional value, monetary value, social value, and psychological value.

Detailed explanation-5: -Defining commerce Commerce is defined as the exchange of goods and services between two or more entities. It typically involves buying and selling things of value. Commerce can take place between businesses, between consumers, or between businesses and consumers.