***Value and Satisfaction ***The offering will be successful ifit delivers value and satisfaction to the target buyer. The buyer chooses between different offerings based on
which she perceives to deliver the most value. Value reflects the sum of the perceived tangible and intangible benefits and costs to customers. It's primarily a combination of quality, service, and price("asp") called the"customer value triad." Value increases with quality and service and decreases with price, although other factors can also play an important role in our perceptions of value. Value is a central marketing concept. We can think of marketing as the identification, cre- ation, cominunication, delivery, and monitoring of customer value. Satisfaction reflects a person's judgments of a product's perceived performance(or outcome) in relationship to expectations. If the performance falls short of expectations, the customer is dissatisfied and disappointed. If it matches expectations, the customer is satisfied. If it exceeds them, the customer is delighted.