The Consumer Value Model: Know The Perceived Value of Your Products & Services and Convert Inquiries Into Purchases

by Lanze Thompson

Price has historically been associated with cost, profit, and quality. Consumer value is often inferred from quality, but quality can exist independent of consumer value. Quality, in and of itself, is not a substitute, or a predictor of value.The key determinant of consumer value is a function of benefits (perceived and real) over total cost (price, time, travel, risk, etc.), analyzed in the context of competitive choices. My Consumer Value Model (V=B/C) provides for the measurement of total value for a selected group of a product or service offering and will indicate which brand delivers the greatest value to potential customers, thus increasing the probability of converting them into paying customers.

Kindle Edition

First published February 25, 2015