Perceived value

Perceived value is the value promised by the company's value proposition and perceived by the customer.

Definition

According to Marketing Management by Keller and Kotler (15th edition),

Perceived value. The value promised by the company's value proposition and perceived by the customer.

According to the Marketing Communications by Fill (5th edition),

Perceived value. A customer's estimate of the extent to which a product or service can satisfy their needs.