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How to Increase Product Value?

Product Value is the worth of a good or service. To a company, the price of a product depends on its production costs. To a target customer, the cost must be weighed against its perceived value. Value seems a simple concept. Yet it can be complicated. Why does a BMW cost more than a Toyota but less than a Bentley? While there are certainly differences in production costs, technology, marketing and more, the biggest difference is the perception of the product value. This is why cars depreciate so quickly. That perception quickly fades and equalizes over time.

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