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: Perceived Value Definition
Business Marketing Essentials
Perceived Value
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Carol Kopp has 30+ years of experience as a producer, developer, writer, and editor for Internet news sites. Learn about our editorial policies
Carol M. Kopp
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Julius' business experience is dynamic and includes leading the finance and operations management teams of companies in multiple industries which include real estate, logistics, financial services, and non profit organizations. Article Reviewed on December 01, 2020
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Julius Mansa
Updated Dec 1, 2020
What Is Perceived Value? In marketing terminology, perceived value is the customers' evaluation of the merits of a product or service, and its ability to meet their needs and expectations, especially in comparison with its peers. Marketing professionals try to influence consumers' perceived value of a product by describing the attributes that make it superior to the competition. Key Takeaways
Perceived value is a customer's own perception of a product or service's merit or desirability to them, especially in comparison to a competitor's product. Perceived value is measured by the price the public is willing to pay for a good or service. The marketing of a product or service involves attempting to influence and increase its perceived value, which can emphasize qualities such as its aesthetic design, accessibility, or convenience. Understanding Perceived Value
Perceived value comes down to the price the public is willing to pay for a good or service. Even a snap decision made in a store aisle involves an analysis of a product's ability to fulfill a need and provide satisfaction compared to other products under different brand names.