Value refers to worth, importance, or utility.

Value- the sum of the tangible and intangible benefits and costs. Value, a central marketing concept, is primarily a combination of quality, service, and price (qsp), called the “customer value triad.” Value perceptions increase with quality and service but decrease with price.

Webster Dictionary Meaning

1. Value
- The property or aggregate properties of a thing by which it is rendered useful or desirable, or the degree of such property or sum of properties; worth; excellence; utility; importance.
- Worth estimated by any standard of purchasing power, especially by the market price, or the amount of money agreed upon as an equivalent to the utility and cost of anything.
- Precise signification; import; as, the value of a word; the value of a legal instrument
- Esteem; regard.
- The relative length or duration of a tone or note, answering to quantity in prosody; thus, a quarter note [/] has the value of two eighth notes [/].
- In an artistical composition, the character of any one part in its relation to other parts and to the whole; -- often used in the plural; as, the values are well given, or well maintained.
- Valor.
2. Value
- To estimate the value, or worth, of; to rate at a certain price; to appraise; to reckon with respect to number, power, importance, etc.
- To rate highly; to have in high esteem; to hold in respect and estimation; to appreciate; to prize; as, to value one for his works or his virtues.
- To raise to estimation; to cause to have value, either real or apparent; to enhance in value.
- To be worth; to be equal to in value.
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