Which factor can affect the perceived value of products?

Adding premium price options or services plays a significant role in influencing the perceived value of products. When a retailer offers higher-priced variants of a product, it can create an impression of superior quality, exclusivity, or enhanced features, which can elevate the overall perception of the brand. Consumers often equate price with quality, and by providing premium options, the retailer fosters a perception of added value that can attract a segment of customers willing to pay more for perceived benefits.

In addition, offering premium services, such as extended warranties or personalized customer service, can further enhance the perceived value by giving customers a sense of security and care that they might not receive with standard options. This approach not only improves customer satisfaction but can also positively impact sales, as consumers often prefer to invest in products that they believe will provide them with more substantial returns in quality or experience.

While factors like competition in the market, speed of shipping, and choices in color and size can indeed have impacts on perceived value, they do so in different, often secondary ways compared to how premium pricing directly affects customer perception by establishing a qualitative benchmark for the products offered.