value perception

Value perception refers to how a person interprets the worth or usefulness of a product, service, or experience. It’s influenced by factors like quality, price, brand reputation, and personal needs or preferences. Essentially, it’s about how much someone believes they are getting in return for what they pay or invest. If a product meets or exceeds expectations, the perceived value is high; if it falls short, the perceived value is low. Understanding value perception helps businesses tailor their offerings to better meet customer needs, fostering satisfaction and loyalty.