Most people stay at a hotel so that they can get a night’s sleep in a bed. So other than the bed, does anything else matter? The perceived value is different for different people.
Some people would like more than the bed. They may wish to have a private shower, toilet and washbasin too. Lots of people require a specific level of cleanliness also. Others still, need a large room and blackout blinds.
But all of this may be irrelevant if the customer does not get a good night’s sleep. There are so many factors that affect perceived value. There are too many to list out in this short blog. However, it does seem to prove the point that beauty or value is in the eye of the beholder.
Think of all the factors that go into selecting your milk from a shop. It might be brand, taste, price, size or position on the shelf. That is from a product that is quite basic too. Imagine if there were lots of other factors like when considering a degree course.
A course is quite personal to you. You need to like the brand, the teacher or instructor, the topic, the location and the timings, to name a few key elements. Some people will pay $10,000 for a course with a specific outcome from a specific teacher.
Others will attribute little or no perceived value.
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