3.3.1 Perceived Value

For this activity:

You will need to write down your answers in your Mahara e-portfolio.

We learned from this theme that providing value to consumers is a cornerstone of success in marketing. But value can mean different things to different people at different times.

For this activity identify how each of the following consumers perceives value. For example, value = low price, value = good service, and so on.

1. “I like going to McDonalds – it’s such great value – sure, the food isn’t that great, but you get a lot for your money.”

2. “I’m happy to pay $300-400 for a pair of shoes – because they last for years. I really can’t understand people who buy a $50 pair of shoes every six months.”

3. “I drive a BMW. Why? Because I always want the best, that’s important to me. I usually buy high quality products.”

Write notes on each of the above consumers and how they perceive value.