Question

The essence of marketing worldwide is to surpass the competition in creating perceived value, which can be represented as:
1_Value Benefits / Price.
2_Benefits - Value Price.
3_Value Price / Benefits.
4_ Value = Benefits x Price.

Answer 1

The essence of marketing worldwide is to surpass the competition in creating perceived value,which can be represented as (1)value=Benefits/price.

• 1.Value=Benefits/price:This is the correct option which represents perceived value.Perceived value determines the satisfaction gained or advantages of goods.To attain this value,amount of benefits should be proportionated or correlated with price of good.If price of good is accelerated,then perceived value decreases and if price of good is decreased,then perceived value increases.When benefits are correlated with price of good,then perceived value can be ascertained easily.To create greater perceived value,marketing technqiues can be used to overcome the competition.Therefore,the option value=benefits/price represents perceived value.
• 2.Benefits-Value price:This is incorrect option as it represents amount of benefits.Calculation of benefits and price should be done to determine the value,but here in this option ,value is also included in calculation by which amount of perceived value cannot be ascertained.So,benefits-value price do not represent perceived value.
• 3.Value Price/benefits:Even this do not represent perceived value as when price is compared or correlated with benefits then fraction or decimal value is obtained.To attain perceived value,price be calculated from benefits,but here in this option,benefits are calculated from price.If,price and benefits are proportionated,then less perceived value will be obtained,which is not correct way of ascertaining the value.Therefore,this is incorrect option.
• Value= Benefits x price:This option does not represent perceived value.Multiplying benefits with price, do not depict perceived value.To know the perceived value,price should be proportionated and  calculated from benefits.But this option is representing the accumulation of benefits and price whihc is incorrect.Hence,this option is wrong as it is not representing the proportion of benefits and price.