Consumer perceptions of value, Marketing Management

Assignment Help:

Consumer perceptions of value

Consumers are usually going for value. They feel that they have bought the right product to satisfy their requirements and paid a fair price for the quality of product they have bought.

The consumer perception of value is influenced by factors like:

  1. Claims in advertising media
  2. Clear track record or reputation of the product in the marketplace if product has been available for a long time
  3. Referrals and suggestions from family and friends who have used the  product
  4. Merchandisers are highly aware that value motivates consumers to purchase.

Thus, the product price point is one of the significant factors considered when exhibiting a product for sale. The wrong price point, either high or very low, can affect sales negatively.


Related Discussions:- Consumer perceptions of value

Importance of marketing - under developed/developing economy, Importance of...

Importance of the marketing in under developed or developing economy : Marketing has a special significance in under developed economics. A rapid development of the economy is p

Marketing, A. Identify the irritants, disappointments and annoyances of the...

A. Identify the irritants, disappointments and annoyances of the elderly when it comes to health care when they needed them.

Explain the impact of technology on globalisation, Question 1: a) Expl...

Question 1: a) Explain the impact of technology on Globalisation. b) What are the different strategies businesses follow to enter Foreign Market? Question 2: What

Marketing and customer value, MARKETING AND CUSTOMER VALUE Creating and...

MARKETING AND CUSTOMER VALUE Creating and delivering better customer value is the only route by which firms implement the marketing concept. Customer satisfaction is the centra

Describe the components of the promotion mix, Question 1: "Promotion p...

Question 1: "Promotion performs a significant and vital role in the marketing strategy of an organization." Using an organization of your choice, describe the component

Distinguishing features of an consumer, Q. Give the distinguishing features...

Q. Give the distinguishing features of an consumer?  Ans.: A Broad sketch of consumer can be drawn on the basis of following issue:-   Demographic that includes size of

Inerfa ce, What are sabmiller interfaces with loqgistics, marketing, distri...

What are sabmiller interfaces with loqgistics, marketing, distribution

What is introductory stage in marketing strategies, What is Introductory St...

What is Introductory Stage in marketing strategies? Introductory Stage: a. Rapid skimming strategy : New product launch at high rate and a high promotion level. High pri

Determine the level of service quality, Competitive tourism and hospitalit...

Competitive tourism and hospitality organisations strive to deliver a high level of service quality to their customers. As a Marketing Manager of one of these organisations, yo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd