Title: Customer Perceived Value: Understanding What Appeals to the Consumer
Headings: Customer Perceived Value
: Understanding What Appeals to the Consumer

Customer Perceived Value: Understanding What Appeals to the Consumer
Customer perceived value defined
Terms explained
Customer perceived value approach: pricing
Ready to build better conversations?
10 for $10
The power of ‘9’
Removing signs of monetary value
Change the unit of measurement
Customer perceived value approach: Credibility
Trials
Testimonials
Partnerships
Customer perceived Value Approach: The Value of Time
Time is more valuable than money
Convenience
Customer perceived Value Approach: Emotion Connection
Conscious capitalism
Sense of community within the tech startup world
Locality

Content: Another study conducted by MIT and the University of Chicago found that women’s dresses were more likely to sell when prices at $39 than the lower price of $34. Removing signs of monetary value
According to 2009 Cornell University research, consumers are less likely to make purchases when menu options include monetary symbols, such as $ or €, or monetary value words, like dollars or pounds. Simply being there, as an additional word or symbol, for a consumer’s brain to process changes his/her perception. A way to combat this is to list a price with simply a number. Clearly, this is easier said than done when considering an SaaS company who conducts business in many countries and currencies around the world. In such a case, an SaaS might consider a pull down menu at the top of their site, where consumers can choose their desired currency, and subsequently displaying the prices with numbers alone. Change the unit of measurement
Another way to change a customer’s perceived value of a product through pricing is by changing the unit of measurement from money to other things that the same amount of money could buy. According to Dave Schneider, “people don’t derive direct value from money, they derive it from the things that money buys.” Dave cites a relevant example. Facebook purchased What’sApp back in 2014 for a dizzying $19 billion.