What factors influence customer perception of value?

What factors influence customer perception of value?

Customer perception of value is influenced by quality, price, brand reputation, and customer service.

How does pricing affect this perception?

Pricing can significantly impact perception; higher prices may suggest better quality, while lower prices can attract budget-conscious customers.

What role does customer service play in this?

Excellent customer service enhances perceived value, as it builds trust and satisfaction, leading to repeat business.

Can brand reputation change customer perception over time?

Yes, a strong brand reputation can enhance perceived value, while negative experiences can diminish it.

How can businesses improve their perceived value?

Businesses can improve perceived value by enhancing product quality, offering excellent customer service, and building a strong brand.