What is functional value?

Value in marketing, also known as customer-perceived value, is the difference between a prospective customer's evaluation of the benefits and costs of one product when compared with others. ... The four types of value include: functional value, monetary value, social value, and psychological value. read more

A product’s value proposition states the functional, emotional & self-expressive benefits delivered by the brand that provides value to the target customer. read more

The building value is a fraction of what it would cost to be replaced but the limit is sufficient to put up a building of the same square footage that would be functional. The insured suffered a partial wind damage loss. read more

Professor Mohanbir Sawhney in an article entitled “The Seven Fundamentals of Value” discusses how Value is multidimensional in that IT investment decisions, in particular, are made based on functional, economic and psychological value. read more