Perceived value creation process: focus on the company offer

In the competitive business environment, as the number of rational consumers faced with many choices increases, companies can achieve their dominance best by applying the business concepts oriented to consumers in order to deliver a value which is different and better than that of their competitors. Among the various products on the market, an educated consumer chooses the offer that provides the greatest value for him/her. Therefore, it is essential for each company to determine how consumers perceive the value of its offer, and which factors determine the high level of perceived value for current and potential consumers. An analysis of these factors provides guidance on how to improve the existing offer and what the offer to be delivered in the future should be like. That could increase the perceived value of the company offer and result in a positive impact on consumer satisfaction and on establishing a stronger, longterm relationship with consumers. The process of defining the perceived value of a particular market offer is affected by the factors of the respective company’s offer as well as by competition factors, consumer factors and buying process factors. The aim of this paper is to analyze the relevant knowledge about the process of creating the perceived value of the company’s market offer and the factors that influence this process. The paper presents a conceptual model of the perceived value creation process in consumers’ mind.