Perceived Value

This is a preview of a concept contained in The Personal MBA by Josh Kaufman, a book that will help you master the fundamentals of business, hone your business instincts, and save a fortune in tuition. The Personal MBA distills the most powerful principles of business and delivers them quickly and concisely. Order your copy now…

What is “Perceived Value”?

“People don’t trade money for things when they value their money more highly than they value the things.” — Roy H. Williams, <emThe Wizard of Ads_

Key Points:

• Perceived value determines how much your customers will be willing to pay for your offer.
• The less attractive the End Result, and the bigger the involvement it takes to the user to get the benefit, the lower the perceived value will be.
• Create forms of value with the least end-user effort and best End Result possible to have the highest perceived value.

Questions for Consideration:

• Which forms have the highest perceived value?
• How can you remove effort or frustration for your customers?
• How much would they be willing to pay for those additional benefits?

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