Step 1: Understand your firm’s value proposition. Before you serve the market or customer, you should have a good understanding of what you have to offer to the market.

Coca-Cola bottles both Dasani and Smartwater, but each brand has a different perceived brand value for customers. If you grow your brand value, you can increase revenue.

Perceived value is one of the key psychological factors influencing a consumer's purchase of finance and insurance products, Allstate Dealer Services said in a white paper it promoted this fall.