Why did you choose your favourite coffee shop over the one next door? It might not be just about price. You probably weighed what you get — the taste, the atmosphere, the friendly barista — against what you give up. That mental calculation is customer perceived value, and it’s at the heart of every business relationship. In this chapter, we explore what value really means, what it’s made of, and how businesses turn it into a clear, compelling promise called a value proposition.