Early economists defined value in monetary terms. The value of anything was defined as whatever someone might pay for it. In business today there’s still a general presumption that the value of any product should be measured, understood, and expressed in terms of money. It’s further presumed that the value experienced by customers must be greater than the price they’ll pay, or they would look for alternative ways to fulfill their needs. But value is thought to equate to money.
KeywordsNeutral State Risk Mitigation Psychological Component Psychological Reality Competitive Research
Unable to display preview. Download preview PDF.