Customer perceived value

Value is the perceived worth, usefulness, or importance of a product or service to the customer

The consumer perceived value or simply as value in marketing is the difference between the costs of one product when compared to others and evaluation of the benefits of perspective customer. This value needs to be taken into account when setting prices.

The customer's evalution of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.

The customer's evalution of the difference between all the benefits and all the costs of a market offering relative to those of competing offers.