Ways Companies Increase Perceived Customer Value

Ways Companies Increase Perceived Customer Value
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Ways Companies Increase Perceived Customer Value
By definition, customer perceived value is an opinion of buyers towards a product or service. Customers develop perceptions about a brand based on the fulfillment of expectations through its features. Today, brands use different tactics to improve the perceived value among customers. The primary approach is the exhibition of a unique selling proposition (USP). Brands would communicate the features and benefits from a different perspective. Superior brands would create perception by promoting quality as unique or relevant to address the potential needs of the target audiences. The approach would make a strong brand perception among customers during the purchase lifecycle (Greenelsh, 2020).
Subsequently, prices are used as a benchmark to determine brand dominance in the marketplace. According to Hardisty, Allard, and Griffen (2020), customers would develop a healthy perception of a brand once unique features are synergized with higher prices. Brands must communicate the superiority of perceived value by differentiating price brackets from standard market rates. Prices would create a sublimi...