Study on Perception of Consumer Deﬁne Value of Product

Author(s)	Mr. P. Sathya Narayanan, Dr. C. Kandasamy
Country	India
Abstract	Traditional pricing theory explains price determination through cost, utility, and supply–demand interactions, assuming rational consumer behavior. However, modern markets often contradict this view, as non-essential products with limited functional utility command high prices. Building on the water–diamond paradox, this study develops a conceptual framework linking consumer perception, perceived scarcity, and opportunity cost to price determination. Scarcity is shown to be largely perception-driven, while opportunity cost is redefined as a psychological sacrifice arising from delayed purchase rather than immediate monetary loss. This perceived sacrifice sustains future purchase intention even under high prices. The study conceptually identifies conditions for determining a maximum sustainable price, highlighting the importance of behavioral factors in modern pricing decisions.
Field	Business Administration
Published In	Volume 7, Issue 1, January-February 2026
Published On	2026-02-28

About AIJFR Fees & Payment Current Issue Publication Archive	Submit Research Paper Track Submission Status Publication Guidelines Publication Ethics Peer Review & Plagiarism	Join as a Reviewer Editors & Reviewers Reviewer Referral Program Get Reviewer Membership Certi.	Website/Journal Policies Usage Policy Content Policies Privacy Policy

Contact Us		+91-9898-79-39-59	editor@aijfr.com

Advanced International Journal for Research