Price sensitivity (also see price elasticity, willingness to pay)
- Value in use. The functional value of a product or service. Value of a product used when determining whether or not to purchase in a product category. “Will I?” value.
- Comparison value. The value of a product relative to the price of a similar product. The customer’s willingness to pay. The value used in Value Based Pricing or Value Based Buying. “Which one?” value.
- Reference value. The value of an acquisition. Typically the price relative to a reference price or the price the customer expected to pay.