Marketing Management Customer perceived value is the term given to a customer's perceived valuation of a good, service or product offering including its benefits and costs relative to other alternatives. Essentially, this is the value that a customer thinks an offering is worth based on his or her own personal preferences, demand elasticity and analysis of other suitable alternatives. Total customer value refers to the monetary value a customer ascribes to an offering. Total customer value is based on functional and physiological benefits a customer expects to receive from acquiring and utilizing the offering. The total customer cost a consumer expects to incur in the full life cycle of using a product which includes evaluation, obtaining, using, and finally, disposing of a product or service. The perceived benefits of an offering measured against the cost of an offering shape how customers perceive...
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