The Consumer Value Model

Download or read book The Consumer Value Model written by Lanze Thompson and published by . This book was released on 2016-12-10 with total page 27 pages. Available in PDF, EPUB and Kindle. Book excerpt: 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.