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Difference Between Perceived Value & Real Value

Customer perceived value approach: pricing

❶This is especially true for SaaS companies. The sources of value are not equally important to all consumers.

Definition: Customer Perceived Value (CPV)

What is 'Perceived Value'
Actual Value
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I find that I want to eat only very small portions. The only thing that has been difficult is getting used to my new appetite. I've been throwing out a lot of my food because I physically feel like I cannot eat that much, and if I do eat too much then I don't feel so good. However, I'm learning to keep all my meals small and frequent (just like I should have been doing all along!).

Perceived Value

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To better understand customer perceived value, you need to know about value proposition. A value proposition is a comparison of the benefits offered by a company's products and services to the price it asks customers to pay. Companies can generally influence the value proposition in one of two ways.

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The customer perceived value stems from tangible, psychological and social advantages, and since it affects demand for a product, it needs to be taken into account when setting prices.

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Customer Perceived Value is the evaluated value that a customer perceives to obtain by buying a product. It is the difference between the total obtained benefits according to the customer perception and the cost that he had to pay for that. Perceived value is the worth or merits a customer ascribes to a product or service. Usually, customers are unaware of the factors involved in pricing a product .

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Customers will buy from the firm that they see as offering the highest perceived value. Customer perceived value (CPV) is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives. Total customer value is the perceived monetary value. 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.