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The value in marketing is often understood as the consumer’s perceived value of the product (goods and services). Their perception of the product includes more than just the objective product – the product unrelated to them. So, the product they perceive has an extra subjective component. When the consumer subjectively perceives the value of the product, it can include a higher or lower value to them. In this course, we explore ways in which the producer can create or extend the value that the consumer perceives. In doing so, we will also explore the producer’s perception of value about the goods and services that they produce.

The crux of marketing theory and practice is about the exchange of value. This course explores the concept of value creation and management. On the journey, the students develop an appreciation for the objective and subjective dimensions of value, and explore factors influencing the production and management of value and its purpose in the exchange. At the conclusion of the course students should have an understanding of products presented to the market, and the value components used by the parties involved in a successful exchange, which are elements all business professionals, accountants, engineers, psychologist and communicators must have an appreciation for the value they develop and present to the market.