Value - Sales Glossary - Upnify
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Value


The buyer chooses the offerings that according to his perception deliver the most value, the sum of tangible and intangible benefits and costs. Value, a fundamental sales concept, is primarily a combination of quality, service and price called the customer value triad.


Consider the following:

  • Perceptions of value increase with quality and service but decrease with price.
  • Marketing should be thought of as the identification, creation, communication, delivery and monitoring of customer value.
  • Satisfaction reflects a person's judgment of a product's perceived performance relative to expectations.
  • If performance is less than expectations, the customer is disappointed. If it is equal to expectations, the customer is satisfied. If it exceeds them, the customer is delighted.