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perceived value

 
Marketing Dictionary: perceived value

Benefit a consumer expects to gain from a product or service. Perceived value is derived from a combination of benefits that are tangible, like hunger abatement, and benefits that are psychosocial in nature, like status enhancement. The perceived value of a product has a direct effect on demand and should be one of the factors considered when establishing a price.

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Marketing Dictionary. Dictionary of Marketing Terms. Copyright © 2000 by Barron's Educational Series, Inc. All rights reserved.  Read more