Mirror of English Wikipedia, the free encyclopedia

Value of a product within the context of marketing means the relationship between the consumer's expectations of product quality to the actual amount paid for it. It is often expressed as the equation  :

Value = Benefits / Price

or alternatively:

Value = Quality received / Expectations

There are parallels between cultural expectations and consumer expectations. Thus pizza in Japan might be topped with tuna rather than pepperoni, as pizza might be in the US; the value in the marketplace varies from place to place as well as from market to market.