Year 12 IB Extended Essays 2018

3.3 Perceived preference and value for money

Below is a table outlining the results of a peer review survey conducted on fellow students. The survey

had 28 responses and thus is limited by response size as well as a limited demographic of teenage high

school students. The survey compares the products perceived by value for money against its popularity

with consumers compared to its competitors. Red Bull can be seen to have a high perceived value for

money along with popularity. An interesting result was the fact that Red Bull had a high perceived

value for money, however when comparing prices, it has the highest price compared to its competitors.

This leads to the conclusion that even though the product is more expensive, its brand image and

reputation make students believe that it is worth the extra costs compared to its competitors.

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