1. Price, value, and perceived cost (P/V = PC):

You are a buyer, not the seller. Assume that you have the extra dollars to make a purchase.

Select three items in the same product or service category that have low, medium, and high price points (for example, Jeans:

$35/$75/$195).

A. Explain this equation in terms of the product or service at the lowest and highest price levels.

B. Identify specific value factors.

C. List other value-added factors that might motivate you to spend more on the product or service.