1.

In a small group, discuss your perceptions of value and how much you are willing
to pay for the following products: automobiles, frozen dinners, jeans, and athletic
shoes. Are there differences among members of your group? Explain why those
differences exist. Discuss some examples of brands of these products that are
positioned to deliver different value to consumers. (AACSB: Communication;
Reflective Thinking)

Everyone's responses are different because perceptions of value vary among

consumers.

For example, in the case of cars, taking the example of the 2020 Kia Sportage with a
value of $28,990, some would not be willing to spend that money on that car but on a
cheaper car in the same brand, such as the Kia Rio at $16,800, who see the price of the
car as convenient only because of the utility of moving them from point A to point B,
while others agreed to pay for the Sportage because of its size and comfort.

Some see the sport shoes as shoes to wear when not wearing dress shoes or sandals
and will not pay more than $30 or $40 for a pair. skechers could be an example of a
brand that offers this level of value to consumers. However, some see value in shoes
that are designed for specific sports and are willing to pay more than $100 for a pair.
Nike, New Balance, Asics, Reebok or Under Armor might be brands that offer this
added value for specific needs such as exercise, walking, or simply daily wear. Others
may see the value of fashion in some sports shoes and clothing brands a little more
exclusive that can represent a high price in the market, where it represents more the
marketing and the name behind the brand than the product itself as for example the
Adidad yeezy which in its different versions can reach very significant and high prices.