product value
service value
personnel value
image value
monitory cost
time cost
energy cost
psychic cost
VALUE/ COST/ SATISFACTION:
Decision for purchase made based on value/ cost satisfaction delivered by product/ offering.
Product fulfills/ satisfies Need/ Want.
Value is products capacity to satisfy needs/ wants as per consumer’s perception or estimation.
Each product would have a cost/ price elements attached to it.
Eg. – Travel from city A to city B.
Need – to reach B ( from A)
Method/ Products- Rail/ air/ road or train/ plane.
Satisfaction – Estimated in terms of time lead & travel comfort.
VALUE– Products capacity to satisfy.
COST– Price of each products.