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Evaluate a product or service perceived value

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Reference no: EM133185738

When customers are ready to make a purchase, they typically evaluate a product or service's perceived value against the asking price on the tag. However, what consumers value can be challenging to pin down and psychologically complicated. Products and services deliver fundamental elements of value that typically address four kinds of needs: functional, emotional, life-changing, and social impact.

Which of the four needs best influences a decision when making a purchase, and why? What product would one align this need with? Which of the four is the least significant, and why?

Reference no: EM133185738

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