How Do Customers Perceive Value?

How Do Customers Perceive Value?

Customer value is the perception of what a product or service is worth to a customer versus the possible alternatives. Worth means whether the customer feels s/he or he got benefits and services over what s/he paid. The customer is someone who buys or makes the decision to buy.

For this task you need to identify how each of the following consumers perceive value, based on their statements listed below.

For each consumer statement, identify how each of the following consumers perceives value. (For example, value = competitive price, or value = outstanding services, or value = social status, and so on.)

Table uploaded below

Questions

1. What does each person define value?

2. What are the factors that influence the value perception of customers?

3. Please pick three statements from the table above and discuss how can markets provide the value to that customer using the marketing mix, which includes product, price, promotion, and price.CaseStudy6tableonly