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Posted by John Taylor on February 11, 2000 at 12:10:47:
In Reply to: Value for money posted by Liz on February 10, 2000 at 17:24:25:
In several surveys we have conducted, consumers have given essentially the same answers to "value for the money" ratings as they give for "price." These were studies of consumer products, mostly packaged foods. The results might be different for durables or services, where price ranges might be greater.
To explain my first statement: we did factor analysis of lots of statements (generally 15 to 22) used in the ratings. In all five cases that I can remember, the "value for the money" statement grouped with "price" statement(s).
So, "value" seems to have no meaning separate from price. Maybe this is simply confirming Sherman's view that consumers are game playing with us. Or, it might be a function of the inexpensive CPG categories we were working in.
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