Perceived Value

Giving value to customers is one of the biggest challenges for every business. What is that perceived value for the customer?

Functionality - What's the practical benefit of your product or service for your customer?

Sensory Impact - This addresses how your product looks, feels, sounds, tastes and smells

Unconscious associations - Most products have features that create some kind of?association or emotional response?for your customer.

Conscious associations - Fortunately, you don’t have to guess what your customers consciously value about your products: You can simply observe their historical buying habits or ask them directly

Price and value - How does your ideal customer?perceive the price of your product? And do they consider that your product or service is worth that price?

Access and convenience - It’d be easy to assume that all your customers want easy access to your products. Who wouldn’t?

Read the full article - Six Factors That Shape Your Product’s Perceived Value | EMyth