Explain the difference between real and perceived value.

Business

1 answer:

VikaD [51]4 years ago

3 0

This is also a concept we discuss in marketing.

Real value is the actual worth of the item. For instance, a $20 bill is worth just that $20. This is usually referenced to the raw materials in the product itself. If a meal costs $10 to make, the real value is the sum of the value of the individual parts.

Perceived value is the non-quantifiable value added by a product or service. The same meal that costs $10 to make, has greater impact when prepared and has additional perceived value because a good meal provides an experience for the diner. It is the atmosphere, the ambiance, the service all make the "raw materials" worth more to the consumer.

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Bank to loan = $8,000

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Given:

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