Customer Value Perception

Customer Value Perception refers to how customers evaluate the worth of a product or service based on what they receive compared to what they pay. It encompasses factors like quality, benefits, and personal experiences. For instance, if a customer feels a product offers more benefits or higher quality than its price suggests, they perceive high value. Conversely, if a product doesn’t meet expectations or seems overpriced, the perceived value drops. This perception influences their buying decisions and loyalty to a brand, making it crucial for businesses to understand and enhance the value they provide to customers.