Question

Discuss whether the choice of retail outlets effects the perceived value of a product.

Answer 1

Answer:

Retail Outlet: Retail outlets are the shops which used to sell the products to the consumers. Consumers generally purchased their routine usage products from the retails shops, as they need the quantity of products in ones or two.

Perceived Value of Product: Perceived value is a very subjective topic and it does not have any direct measurement. It is the consumer’s general perception that how he make the image of the product or retail shop in his mind. The comfort level of consumer does impact the perception or perceived value for the retail shop / products.

Choice of retail outlets effects the perceived value of a product: The statement is sometime looks appropriate and sometime do not looks appropriate. It is mainly driven through the perception of the consumers on the product and the retail outlets.

• Perception of Retail Outlet: Many customers have a perception that the retail outlets are their choice for purchasing of desired products for their usage. They have very high perception of the retail outlet, may be due to they had a relation with the outlet, they got the discounted offer or they gets the good treatment at the retail outlet or the products purchase at the retail may delivers high quality

• Perception of consumer comfort: Many consumers have preferences for some of the retail outlets because more comfort at that retail outlet. The behavior or treatment they got at the retail outlet is liked by consumers and they feel that they are getting good treatment by the retail outlet.

• Quality product by Retail Outlets: Some of the consumers feel that the product they purchase from their preferred retail outlets are generally of good quality and they perform better. Thus the consumer have a perception that quality products are received from their preferred retail outlets.

• General mindset of consumers: It is the general mindset of people that some of the retail outlets are good and they get products or service support from their preferred retail outlets.

• Quality Service from Retail Outlets: Some of the retail outlets provide good quality service, that makes good impact on the consumers and they have preferences for such outlets.