What is the perceived value and why is it important in Global Marketing?
Answer: Perceived value is the value created for customers by improving benefits or reducing price. Value proposition is when there is a perceived value to the customer and the firm's promise to customer.
(Value= Benefits/price [money,time,effort, etc.] )It is important in GM b/c one wants to stand out from its competitors such as improving the product, find new distribution channels, create better communications, cut monetary costs and prices.