Question
Recall the steps required in calculating the total economic value of a product. Choose a product and brand that you typically purchase. Provide a list
Recall the steps required in calculating the total economic value of a product. Choose a product and brand that you typically purchase. Provide a list of drivers for that product that matter for you. Include both monetary and psychological drivers in that list. Next, identify a reference brand and describe your points of differentiation for your chosen brand for each of the drivers you have mentioned before. Describe one reason why a consumers perceived value of the same brand/product may be different from the actual value. What advice would you provide the marketer of this brand to bring the perceived value closer to the actual value?
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