Generally, people buy one product or service instead of another because they perceive it to be a better value. True or False?

The statement is true because consumer decision-making is heavily influenced by perceived value. When individuals are faced with multiple options, they tend to evaluate the benefits of each product or service against its cost. If one option is perceived to offer greater benefits—such as higher quality, better features, or additional services—at either a similar or reduced price, consumers are likely to choose that option over others. This behavior aligns with the basic principles of marketing and economics, where value is a key driver of purchasing decisions. Consumers are constantly seeking to maximize their satisfaction relative to their expenditures, which demonstrates the importance of perceived value in the marketplace.