Real value is how much it cost to produce the product. Perceived value is the cost the customers are made to believe the product is worth using extensive marketing techniques. Public opinion about the product and the brand producing it also affects the perceived value. The product may be sold for much more than what it cost to manufacture or less than what the actual value of the product is.

Perceived value of a brand is the margin the value of a product is set to alter if a particular brand is sponsoring it.