“Discuss the concept of perceived value and its importance to consumer behaviour and marketing. Discuss the theory and then give practical examples of how customers perceive various brands and how this impacts on their behaviour”

Background

The perceived value is “the worth that a product of services has in the mind of the costumer. The costumer’s perceived value of a good or service affects the price that he or she willing to pay for it. For the most of the part, costumers are unaware of the true cost of production for the products they buy. Instead, they simply have an internal feeling for how much certain products are worth to them. This in order to obtain a higher price for their products, procurers may pursue marketing strategies to create a higher perceives value for their products. Perceived value is often used with perfumes, for example. Perfumes tend to be associated with a glamorous celebrity in order to create a mystique and perception of luxury. As a consequences of the social and economic development of modern societies, the study of consumer behaviour has undergone a strong development process, during the past years consumer behaviour acquiring its own status among sciences. However scientists concern with the study of consumer behaviour covers a time span of many decades. There have been several approaches related to consumer behaviour concertized In fundamental theories and models, such as Marshall “economic model”. And marketing is the management process through which goods and services move form concept to the costumer. Marketing activities and strategies result in making product available that satisfy costumer while making profits for the organisation that offer those services and product.
Body
Perceived value significantly influence satisfaction , trust and behavioural intentions , exploring tis dimensions can provide insights to