Title: Perceived Value Definition
Headings: Perceived Value
Perceived Value
What Is Perceived Value?
Key Takeaways
Understanding Perceived Value
Types of Perceived Utility Value
Special Considerations of Perceived Value

Content: The work of the marketing professional is to enhance the perceived value of the brand they are selling. The pricing of products takes perceived value into consideration. In some cases, the price of a product or service may have more to do with its emotional appeal than with the actual cost of production. Even a snap decision made in a store aisle involves an analysis of a product's perceived ability to fulfill a need and provide satisfaction. Types of Perceived Utility Value
Marketers who want to influence the perceived value of a product define its attributes in terms of its utility, or the extra benefits and values that the customer expects to get in using it. The perceived utility of many products and services may differ widely even among similar or virtually identical products. There are five types of utilities that companies aim to create through marketing campaigns for products: Form utility is the aesthetic appeal of the physical design of a product. Even a utilitarian product like a frying pan can increase in perceived value because of its appealing design. Task utility is the value attached to a service that saves the customer time, effort, or money.