Title: Value (marketing) - Wikipedia
Headings: Value (marketing)
Value (marketing)
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Content: Please help improve it by rewriting it in an encyclopedic style. (July 2010)
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Marketing
Marketing
Marketing management
Key concepts
Distribution
Pricing
Retail
Service
Activation
Brand licensing
Brand management
Co-creation
Dominance
Effectiveness
Ethics
Promotion
Segmentation
Strategy
Account-based marketing
Digital marketing
Product marketing
Social marketing
Influencer marketing
Attribution
Annoyance factor
Horizontal integration
Vertical integration
Promotional content
Advertising
Branding
Corporate anniversary
Direct marketing
Loyalty marketing
Mobile marketing
On-hold messaging
Personal selling
Premiums
Prizes
Product placement
Propaganda
Publicity
Sales promotion
Sex in advertising
Underwriting spot
Promotional media
Behavioral targeting
Brand ambassador
Display advertising
Drip marketing
In-game advertising
Mobile advertising
Native advertising
New media
Online advertising
Out-of-home advertising
Point of sale
Product demonstration
Promotional merchandise
Visual merchandising
Web banner
Word-of-mouth
Research
Market research
Marketing research
Mystery shopping
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Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. Value may also be expressed as a straightforward relationship between perceived benefits and perceived costs: Value = Benefits - Cost . The basic underlying concept of value in marketing is human needs. The basic human needs may include food, shelter, belonging, love, and self expression. Both culture and individual personality shape human needs in what is known as wants. When wants are backed by buying power, they become demands . With a consumers' wants and resources (financial ability), they demand products and services with benefits that add up to the most value and satisfaction. The four types of value include: