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

Mutually beneficial relationship of marketing, How is marketing mutually cr...

How is marketing mutually created beneficial relationship? Mutually beneficial relationship of marketing: The customer is the focus onto whole marketing activities. But th

What is understand by extended marketing mix, Question 1: a) What is m...

Question 1: a) What is meant by Customer Relationship Management (CRM)? b) Nestlé's products include baby food, bottled water, breakfast cereals, coffee, confectionery, da

Briefly characterize factors influencing consumer behaviour, Question 1: ...

Question 1: (a). Define the term "marketing" and explain the five key tasks of marketing (b). Indicate the differences and similarities between the following terms: marke

Marketing, Read the journal article Lafferty, B. A., & Hult, G. T. M. (2001...

Read the journal article Lafferty, B. A., & Hult, G. T. M. (2001) ‘A synthesis of contemporary market orientation perspectives’, European Journal of Marketing, 35 (1/2), pp. 92–109

Caselets, 1.Considering the concept of product life cycle, where would you ...

1.Considering the concept of product life cycle, where would you put video games in their life cycle? 2. Should video game companies continue to alter their products to include oth

Agriculture marketing, Discuss the importance of strategy and good leadersh...

Discuss the importance of strategy and good leadership in marketing

Functions of headlines, Functions of Headlines:- To pull attention ...

Functions of Headlines:- To pull attention of audience To highlight major features of the product To give major message of the ad in brief To stimulate interest

TEST MARKETING, what is test marketing?explain the various approaches that ...

what is test marketing?explain the various approaches that are followed by FMCG companies in test marketing?

Test marketing, what is test marketing?explain the various approaches that ...

what is test marketing?explain the various approaches that are followed by FMCG companies in test marketing.

What is socio-cultural segmentation, What is Socio-Cultural Segmentation? ...

What is Socio-Cultural Segmentation? Socio-Cultural Segmentation: Consumer markets are subdivided within segments upon the origin of social-cultural variables as social c

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