Concept Of Perceived Value Perception And Its Impact On Consumer Oriented

1528 Words May 7th, 2015 7 Pages
According to David Marcer marketing in general can be defined as a procedure that must be employed to understand, anticipate and satisfy the needs of the customer in a profitable way. The main purpose of marketing is to create a public awareness among the people about a product or service which will help a company to promote its product sales and reputation. (Mercer 1996). For this essay, I will be looking at the concept of perceived value and the importance to consumer behaviourism and how marketing plays a big role in this. I will also be discussing this theory and will link them with practical examples on how consumers perceive these various brands and how this will then impact their behaviour on purchasing.

Value perception and its impact on consumer behaviourism
A consumer’s perception on a service and/or product is an important aspect to any organisation and has an affect on the price that they are willing to pay for it. How an organisation present themselves, has this impact on their consumers. Consumer products are ranged in five different product categories, which are the basic product, expected product, augmented product, and the potential product. This different categories help identify the needs of each of these consumers and how the marketing team can segment their approach to idealistically capture their attention. How this then affects the influences of consumer behaviour is identified through these three factors; cultural, social and personal.…

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