Consumers purchase goods or services when they perceive that the money that they are paying for is an appropriate amount for the value that they get from the goods or services. In some cases, the firm tries to identify the value that the customer puts on their products or services and charges the customers accordingly. For example, some customers might attribute a high value on staying at Hyatt Hotel because it provides high levels of service, and convenience. When Hyatt Hotel finds out that the customers are putting a high value on the services and products that they provide, Hyatt might charge them a reasonable price.
As I was looking on the choices I have for my winter break, the value-related readings of marketing course came to my mind. Checking the prices of hotels in Whistler and Cancun, I was left in a humungous dilemma. The prices that I had to pay for a night in those places exceeded what I was expecting, in other words, many individuals were placing a higher value on staying at those hotels located in Whistler and Cancun than what I did. Looking at those prices, I was surprised that all the contents that we learned in marketing course were valid and that “Marketing is everywhere”.
.