Business GCSE
Value and willingness to pay
What Value and willingness to pay means in Business GCSE, as defined for AQA.
Definition of Value and willingness to pay
Check what you remember
Read the wording for your board, then hide it and explain Value and willingness to pay in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: AQA
Customers perceive greater value in higher quality and are willing to pay more for reliability, durability, performance or prestige.
Topics that use Value and willingness to pay
- The concept of quality (AQA GCSE)
Related terms
- Additional sales
- Business growth
- Business reputation
- Competitive positioning
- Continuous improvement
- Costs and benefits
- Customer loyalty and reputation
- Customer satisfaction and reputation
Using Value and willingness to pay in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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