Why is Perceived Value Important in Entrepreneurship?
In the world of entrepreneurship, understanding and enhancing perceived value is crucial for several reasons:
Competitive Advantage: Entrepreneurs who can create a high perceived value for their products or services can differentiate themselves from competitors. Customer Loyalty: High perceived value can lead to greater customer satisfaction and loyalty, which are essential for long-term success. Pricing Power: When customers perceive high value, they are often willing to pay a premium price, which can improve profit margins.