The Product Price-Value Perception

 

Product-Price Value Perception is an important aspect of the market. An easier way to understand this is by applying it to your daily life and understanding it further. 

The first segment is of more benefits but more price. The one product that I have used in this segment is Bhima Gold. Though it's expensive, it always remains a savings and a part of my investment. And, it adds to the appeal of various outfits that I wear. It will always help when I have a rainy day in my life. 

The second segment is more benefits and the same price. Crompton fans are my favorite product to show in this segment. Although every other brand has a similar price range for this product, Crompton offers a wide range of high-quality ceiling fans, table fans, pedestal fans, wall fans, and so on. In my household, ever since I can remember, Crompton fans have been our go-to fans. We have not even thought about using another one.

The third one is of more benefits and lesser price. Here I have taken Himalaya Kajal. When we compare this with those of other brands, it has the same qualities, but at a lesser price. And it's so good.

Now, the fourth segment is the same benefit but at more price. I can relate this segment to shampoo and conditioner from L'Oreal. Every shampoo and conditioner has the same qualities. But this brand is expensive than others in the market

The fifth segment is the same benefit and the same price. The best example is Pepsi. All other soft drinks have comparatively the same price and everything has the same benefit too. It's not like drinking Coca Cola will be better than drinking Pepsi, because all pretty much the same thing.  

The next segment is the same benefit and less price. Pigeon Induction Cooker can be taken as an example. When compared to a gas stove, this has more benefits and is priced less as well.  As we know, it uses electricity and it requires less space than a gas stove. The advantage of cooking is the same as the task is easier in an induction cooker. 

The seventh segment is less benefit and more price. The product I have taken here is Wildcraft Rain Jacket. Every rain jacket is of one use and this one has more price than the others. But the use of this product remains the same and simple. So for these kinds of products, why should we spend more?

The eighth segment shows less benefit and the same price. Let's talk about John's Umbrella here. All umbrella brands have the almost same pricing. Even if they claim to have special models and qualities in their products, they are used for the same. So the benefit is less for different varieties and brands. 

And the last segment is less benefit and less price. I'm taking Electric Scooter as an example. When compared to other brands, it's more simple and not at all expensive. Travelling can be done smoothly. At the same time, it can't be used for long drives. And it has less lifespan too. So for a better drive, we should choose other brands. 

This was a simple explanation for the 9 segments of product-price value perception. Everyone can relate this with many other products which they usually use. And this is just mine.