Definition
Value-in-use refers to the amount of money or goods that buyers would be willing to pay for a product (good or service).
Value-in-use is always greater than value-in exchange, the amount of money or goods actually paid for a product. [1]
Value-in-use pricing is a method of setting prices in which an attempt is made to capture a portion of what a customer would save by buying a firm’s product. [2]
See Also
Value added
Value analysis
Value pricing
References
- American Marketing Association, AMA Dictionary.
- Universal Marketing Dictionary Project, 2023.