Explain with as many details as possible the dynamics between “perceived quality”, ‘perceived value” and pricing issues. Provide marketing examples. 

Actual technical superiority, excellence of a product Product-specific Features Material used Reliability Durability Costs versus margins Objective Quality Intrinsic Attributes Objective Price Relationships between Perceived Price, Quality and Value for Brands Expensive Reasonable Cheap (versus competing brands) Non-product related. - Stylish Trendy Reputable Promoted Perceived Quality (versus competing brands) Perceived Monetary Price Perceived Nonmonetary Price Extrinsic Attributes Perceived benefits Price paid Perceived Value (versus competing brands) There is no objective value, it is only what consumers perceived Perceived Sacrifice - Energy spent - Effort Nice packaging (must be expensive) That store is a upscale mall I relate to people purchasing that brand Purchase Brand trust (choice over competing brands) Time invested